THE IMPACT BALANCING ACT: HOW CAN MARKETERS DELIVER CULTURAL AND COMMERCIAL IMPACT?
Marketers exist to make an impact, but that impact is no longer solely about the bottom line. Today, stakeholders are equally focused on cultural impact—encompassing the environment, society, and employees—alongside traditional commercial metrics like revenue and profit. This shift was the centrepiece of a recent panel discussion hosted by Digitas and the Marketing Society, where industry leaders shared insights from a survey of 400 marketers across various sectors, revealing the complexities and opportunities of balancing these dual imperatives.
The panel featured:
- Sophie Devonshire - Chief Executive Officer, The Marketing Society
- Jennifer Berry - Chief Executive Officer, Digitas UK
- Kerttu Inkeroinen - Marketing & eCommerce Director, Lucky Saint
- Vicki Joshi - Chief Customer & Brand Officer, AXA
Here’s what was said:
Redefining Impact
Jennifer Berry , CEO of Digitas UK , kicked off the discussion by emphasising the duality of impact. "We think about impact as a duality, between commercial and cultural impact," she said, highlighting that while 86% of business leaders recognise this duality, 71% find cultural impact the harder goal to achieve. Berry pointed to examples from her own career, working with brands like CitiBank and Dove. "We were able to assess our impact in totality by connecting the value of cultural initiatives to brand sales for the first time ever, which won us Glass Lions for creativity and Effies for strategy. These experiences showed me the impact I really wanted to deliver as a marketer."
Sophie Devonshire, CEO of The Marketing Society , framed the conversation around the role of marketers as change leaders. Devonshire stressed that marketing should bridge commercial goals with societal values, illustrating the evolving role of marketers in making a meaningful difference. "There is a clear correlation between impact, purpose, and meaning. And this starts by understanding the role a business has in society - and connecting all the dots from the ground up through marketing."
Alignment and Application
Vicki Joshi, Chief Customer and Brand Officer at AXA, shared her perspective on making a difference in the insurance sector. "My job is to help us realise our purpose and connect with our customers," she said. Joshi emphasised the importance of understanding and communicating the broader impact of insurance beyond mere risk mitigation, reinforcing the need for internal alignment around the company's purpose. "Sometimes you need to take a step back to take two steps forwards," Joshi added. "Customers have expectations and we need to deliver social impact across markets - but we can only achieve this if we are aligned internally."
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Kerttu Inkeroinen, Marketing & eCommerce Director at Lucky Saint, highlighted learnings from her personal journey towards impact-driven business. Transitioning from a traditional marketing role at Unilever to a sustainability-focused start-up, she underscored the necessity of understanding industry-specific dynamics to drive meaningful change. "It’s not always simple to connect cultural impact with ROI," Kerttu noted. "But the connection exists whether you are measuring it or not. At Lucky Saint, we invest a lot in mental health as alcohol can be a negative influence. So we train our customers in mental health first aid. We can put a tangible commercial value on this training. It’s part of our brand story."
Inkeroinen's experience illustrated the practical challenges of integrating sustainability into business operations, particularly for smaller enterprises. "You need to understand the industry - and then also become an expert on packaging, supply chains, and ethical sourcing. It’s not easy when you are a small business to understand how you can package this all up in a way that makes sense to customers - all while delivering commercial value."
Technology and Partnerships
As the discussion shifted towards the future, the panellists explored the role of technology and partnerships in enhancing both cultural and commercial impact. Joshi described AXA's cautious but optimistic approach to AI, using it to improve efficiency while managing legacy systems. "I’m definitely getting presentations back quicker and with fewer spelling mistakes!"
Berry and Inkeroinen emphasised the importance of clear metrics and small-scale testing to build evidence for larger initiatives. "Don’t always go big. Do small tests. They can help you build evidence for your case. Remember that consumers experience retail, hospitality or insurance through the same lens. So always look for (and learn from) analogous experiences from beyond your sector."
Conclusion
The conversation concluded with actionable advice for businesses aiming to enhance their cultural impact. Inkeroinen recommended the B-Corp impact assessment as a tool for identifying areas for improvement. Joshi advised clarity in setting achievable goals, while Berry called for a renewed commitment to diversity, equity, and inclusion.
The panel underscored that while balancing cultural and commercial impact is challenging, it is increasingly vital for long-term success. By fostering internal culture, leveraging technology, and embracing partnerships, businesses can navigate this duality and make a meaningful impact in today's complex world.
Want to learn more about balancing marketing’s impact balancing act? Download our latest report, produced in association with the Marketing Society, below.?