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.

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IPA Eff Fest: Phil Barden, Decode Marketing

  1. 1. There must be more! Leveraging Decision Science @philbarden Seite 1
  2. 2. 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
  3. 3. BT applied this approach • • Source: BT internal data DRTV +85% Press +76%
  4. 4. The question is: What Makes Them Buy?
  5. 5. The economic model; Value : cost relationship
  6. 6. The marketing model; Emotional vs Rational
  7. 7. 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
  8. 8. +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
  9. 9. Why did this campaign work so well in skincare .....but not in haircare?
  10. 10. Why did these ads perform so differently despite having the identical brief?
  11. 11. Liking is not wanting – different neural circuitry
  12. 12. 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
  13. 13. 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.
  14. 14. Autopilot drives attention and shapes perception
  15. 15. Source: decode marketing ltd internal data
  16. 16. Brand equity is an associative network Brand Value B Brand Value A Mental Concept Brand Value D Brand Value C
  17. 17. Behaviour is goal-directed Explicit Goals Implicit Goals
  18. 18. Consumers choose brands to have, do, be, become, experience… Zest for life
  19. 19. How does this help? Steering implementation Source: decode marketing ltd internal data
  20. 20. How does this help? Steering the implementation of brand equity Beauty transformation Naturalness relaxation
  21. 21. There IS more! Decision Science Phil Barden Seite 23

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