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IPA Eff Fest: Phil Barden, Decode Marketing
 

IPA Eff Fest: Phil Barden, Decode Marketing

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Presentation given by Phil Barden of Decode Marketing at the IPA's Eff Festival - a one day conference challenging conventional thinking on the value of creativity.

Presentation given by Phil Barden of Decode Marketing at the IPA's Eff Festival - a one day conference challenging conventional thinking on the value of creativity.

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    IPA Eff Fest: Phil Barden, Decode Marketing IPA Eff Fest: Phil Barden, Decode Marketing Presentation Transcript

    • There must be more! Leveraging Decision Science @philbarden Seite 1
    • T-Mobile applied this approach • • • • • • Source: T-Mobile internal data, IPA paper Sales +49% Share +6% ARPU +11% vs market Brand consideration tripled Acquisition cost halved ROI 146% 38m youtube views
    • BT applied this approach • • Source: BT internal data DRTV +85% Press +76%
    • The question is: What Makes Them Buy?
    • The economic model; Value : cost relationship
    • The marketing model; Emotional vs Rational
    • Source: Elder, R.S. and Krishna, A (2011). The ‘visual depiction effect’ in advertising:facilitating embodied mental simulation through product orientation. Journal of Consumer Research, 38, 1-17
    • +25% Coulter, K. and Coulter, R. Size Does Matter: The Effects of Magnitude Representation Congruency on Price Perceptions and Purchase Likelihood. Journal of Consumer Psychology. Volume 15, Issue 1, 2005, 64–76
    • Why did this campaign work so well in skincare .....but not in haircare?
    • Why did these ads perform so differently despite having the identical brief?
    • Liking is not wanting – different neural circuitry
    • Liking is not wanting – different neural circuitry Pre-tax profit Revenue 120 100 80 60 40 20 0 2008 2009 2010 2011 -20 Go Compare’s revenue and pre-tax profit. Source: company accounts
    • Reward Pain Decision Godiva Chocolate Godiva Chocolate Price 7 $ Godiva Chocolate Price 7 $ Yes 4 sec. 4 sec. Knutson, B., Rick, S., Wimmer, E., Prelec, D. and Loewenstein, G. (2007) Neural predictors of purchases. Neuron, 53, 147-156 No 4 sec.
    • Autopilot drives attention and shapes perception
    • Source: decode marketing ltd internal data
    • Brand equity is an associative network Brand Value B Brand Value A Mental Concept Brand Value D Brand Value C
    • Behaviour is goal-directed Explicit Goals Implicit Goals
    • Consumers choose brands to have, do, be, become, experience… Zest for life
    • How does this help? Steering implementation Source: decode marketing ltd internal data
    • How does this help? Steering the implementation of brand equity Beauty transformation Naturalness relaxation
    • There IS more! Decision Science Phil Barden Seite 23