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comment                                                                                                                 COMMENT

                                  AND THE                                                    WHAT VALUE
                                  WINNER IS…….?                                              MARKETING?

                                                               Tony Thomas                                                Adam Joseph
                                                               Managing director                                          Insights manager
                                                               The Population                                             Herald Sun




                                  This business deserves an award for the sheer              The annual national conference of the Australian
                                  number of backslapping nights we have celebrating          Marketing Institute is coming up this month, with the
                                  successful marketing campaigns. You only need to           theme “Value Creation Through Marketing”.
                                  walk into any agency’s reception to realise how much           Roger James, the AMI chairman, sees the biggest
                                  it means to them. The gongs take centre stage –            challenge facing Australian marketers today to be
                                  particularly if the word Cannes or the initials D&AD is    demonstrating to colleagues that marketing is the
                                  involved.                                                  source of value creation in business. “Where do sales
                                      But it does beg a question when it comes to            come from? What is it that makes for loyal
                                  campaigns: Who can rightfully take the credit for          customers? How is it that brands are the biggest
                                  awards? Now, I understand a successful marketing           asset most companies own? The answer is marketing.”
                                  campaign is a collaborative effort across all                  It’s just that marketers haven’t been recognised
                                  disciplines and everyone involved wants a slice – but      for this role because they have not talked about what
                                  who should be holding their head highest come              they do in the language of the board room. To this end,
                                  awards night?                                              the AMI is launching its new Marketing Metrics
                                      Trying to decipher and rework a badly written brief    project at the conference, encouraging marketers
                                  from the client and turn it into a strategy which          to become fluent in the language of finance.
                                  smokes out the elusive consumer is no mean feat.               However, I firmly believe our most powerful
                                  So yes, the strategic planners play an important role.     lexicon is the language of the consumer rather than
                                  I mean, there are so many wacky interweb things for        the language of finance. And one of the most valuable
                                  consumers to hide behind now that finding the right        words we own in our marketing dictionary is insight.
                                  strategy to reach them is pretty damn tough.                   Every marketing journey should start and end with
                                      Then, of course, the media buyers have to turn this    the consumer. And it is through market research that
                                  crazy strategy stuff into something that’s actually        we facilitate this search for actionable insights about
                                  execute-able – always a struggle with an ever-             the customer which ultimately guide our marketing
                                  reducing budget and CPM targets which seem                 strategies. Insight is where marketing adds the most
                                  impossible to achieve.                                     value to an organisation. Good marketers keep the
                                      But the razzle-dazzle starts when the creative         finance guys – and indeed the business – honest. And
                                  agency takes over. All the thinking is suddenly            yes, I know that’s not a word usually associated with
                                  visualised as something the client can show their          the profession.
                                  boss. The anticipation is often quickly diminished             Marketers remind the calculator punchers that the
                                  though, when the first offline is seen and you realise     customer is the one calling the shots these days. And
                                  what the production budget couldn’t buy.                   consumers don’t for a second view their existence as
                                      And let’s not forget about the PR agency. It’s a       being about keeping corporations in the manner they
                                  discipline that contributes a lot; as long as they’ve      are accustomed to.
                                  been given something good to work with.                        It’s the responsibility of the marketer to ensure
                                      Then, of course, there’s the marketer – reluctantly    management decision making remains consumer-
                                  invited to the awards night by the agency despite          centric, and the challenge of the marketer is to ensure
                                  delivering a badly written brief, wanting too much         the consumer’s voice comes across in the boardroom.
                                  branding, or having a product that tasted like crap. But       As an example, marketers might advise the
                                  surely marketers deserve the award. They are there         business against tinkering with the price of a product
                                  from the start to the end, slugging away at every          or service until the business has a pretty good idea
                                  stage along the way. The marketer’s role is to pull the    what consumers will make of the change. How would
                                  campaign together into something that resembles            a price change alter the value proposition? Finance
                                  ‘integration’, herding the agencies like cats, all the     can’t – and shouldn’t – answer that question.
                                  while convincing their internal stakeholders that it’s         Marketing creates value for the business on a
                                  worth spending the money rather than dropping it to        number of different levels, but only some of these can
    TO MAKE A                     the bottom line.                                           be measured by standard marketing metrics.
                                      It’s tough. So next time you’re at an awards night,        When it comes to consumer insight, there is no
    COMMENT EMAIL                 look at the marketer and know that, when all the           marketing metric that does justice to the value of
    EDITORIAL@BANDT.              hangovers wear off, they are the ones that have to         being connected to your customers.
                                  check the sales report the following day.                      I’ll report back from the AMI annual conference
    COM.AU                            And before you say it, yes, I am a marketer.           in my next column.



                                                       OCTOBER 10 2008 BANDT.COM.AU 19

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What Value Marketing B&T Oct 2008

  • 1. BTOCT10_19.pdf Page 19 3/10/08, 10:18 AM comment COMMENT AND THE WHAT VALUE WINNER IS…….? MARKETING? Tony Thomas Adam Joseph Managing director Insights manager The Population Herald Sun This business deserves an award for the sheer The annual national conference of the Australian number of backslapping nights we have celebrating Marketing Institute is coming up this month, with the successful marketing campaigns. You only need to theme “Value Creation Through Marketing”. walk into any agency’s reception to realise how much Roger James, the AMI chairman, sees the biggest it means to them. The gongs take centre stage – challenge facing Australian marketers today to be particularly if the word Cannes or the initials D&AD is demonstrating to colleagues that marketing is the involved. source of value creation in business. “Where do sales But it does beg a question when it comes to come from? What is it that makes for loyal campaigns: Who can rightfully take the credit for customers? How is it that brands are the biggest awards? Now, I understand a successful marketing asset most companies own? The answer is marketing.” campaign is a collaborative effort across all It’s just that marketers haven’t been recognised disciplines and everyone involved wants a slice – but for this role because they have not talked about what who should be holding their head highest come they do in the language of the board room. To this end, awards night? the AMI is launching its new Marketing Metrics Trying to decipher and rework a badly written brief project at the conference, encouraging marketers from the client and turn it into a strategy which to become fluent in the language of finance. smokes out the elusive consumer is no mean feat. However, I firmly believe our most powerful So yes, the strategic planners play an important role. lexicon is the language of the consumer rather than I mean, there are so many wacky interweb things for the language of finance. And one of the most valuable consumers to hide behind now that finding the right words we own in our marketing dictionary is insight. strategy to reach them is pretty damn tough. Every marketing journey should start and end with Then, of course, the media buyers have to turn this the consumer. And it is through market research that crazy strategy stuff into something that’s actually we facilitate this search for actionable insights about execute-able – always a struggle with an ever- the customer which ultimately guide our marketing reducing budget and CPM targets which seem strategies. Insight is where marketing adds the most impossible to achieve. value to an organisation. Good marketers keep the But the razzle-dazzle starts when the creative finance guys – and indeed the business – honest. And agency takes over. All the thinking is suddenly yes, I know that’s not a word usually associated with visualised as something the client can show their the profession. boss. The anticipation is often quickly diminished Marketers remind the calculator punchers that the though, when the first offline is seen and you realise customer is the one calling the shots these days. And what the production budget couldn’t buy. consumers don’t for a second view their existence as And let’s not forget about the PR agency. It’s a being about keeping corporations in the manner they discipline that contributes a lot; as long as they’ve are accustomed to. been given something good to work with. It’s the responsibility of the marketer to ensure Then, of course, there’s the marketer – reluctantly management decision making remains consumer- invited to the awards night by the agency despite centric, and the challenge of the marketer is to ensure delivering a badly written brief, wanting too much the consumer’s voice comes across in the boardroom. branding, or having a product that tasted like crap. But As an example, marketers might advise the surely marketers deserve the award. They are there business against tinkering with the price of a product from the start to the end, slugging away at every or service until the business has a pretty good idea stage along the way. The marketer’s role is to pull the what consumers will make of the change. How would campaign together into something that resembles a price change alter the value proposition? Finance ‘integration’, herding the agencies like cats, all the can’t – and shouldn’t – answer that question. while convincing their internal stakeholders that it’s Marketing creates value for the business on a worth spending the money rather than dropping it to number of different levels, but only some of these can TO MAKE A the bottom line. be measured by standard marketing metrics. It’s tough. So next time you’re at an awards night, When it comes to consumer insight, there is no COMMENT EMAIL look at the marketer and know that, when all the marketing metric that does justice to the value of EDITORIAL@BANDT. hangovers wear off, they are the ones that have to being connected to your customers. check the sales report the following day. I’ll report back from the AMI annual conference COM.AU And before you say it, yes, I am a marketer. in my next column. OCTOBER 10 2008 BANDT.COM.AU 19