Challenging times have led businesses to be obsessed with chasing conversions… which can be at the expense of the brand. Just look at what happened in the recent chaos which saw many brand owners freezing their adspend on Google and Youtube, following the realisation that their ads are appearing alongside offensive content on these platforms.
This article is written by Hafizah Hazahal, analyst at SPH Magazines, and was published previously at sphmagazines.com. You can see the original post here.
Previously, we asked the question: Should advertisers regain control of their brand and go “back to basics”, building positive brand associations? In this blog we show why brands will stand to lose if they neglect to build their equity, especially in this digital age.
If you were to do a search on “sales funnel”, you will see that the fundamentals of the funnel have not changed even after decades. An example is the AIDA (Attention-Interest-Desire-Action) framework widely used in advertising. For any advertising campaign to be successful, the first thing marketers should do is to grab the attention of potential consumers, to increase the likelihood of conversions further down the road. This is commonly done through branding and awareness campaigns.
Looking at the framework as a pyramid, you will see that ‘Attention’ (or Awareness) forms the base or foundation of the purchase journey. A depleted base (i.e. weak branding) will cause the pyramid to be destabilised, thus limiting the chances of conversions.
A weak base or branding poses very real risks in this digital age where consumers are empowered much more than before. With the virality of social media, consumers can easily shaken the reputation of a brand by sharing negative stories associated with the brand. Having a ‘cache’ of positive brand associations which can come from branding activities will certainly help to minimise the impact of such events.
Consumers today are presented with an overwhelming array of choices at their convenience especially on the digital space, making it all the more important for brands to stand out from the clutter and grab their attention. Furthermore, brands are connecting with consumers on more touch points than before, and in varying formats. A strong branding will help to ensure a consolidated and consistent message to consumers across these touch points.
Procter and Gamble, the world’s largest advertiser, has been on a paradigm shift as it reawakened to the importance of branding. Marc Pritchard, its chief brand officer, stated that if previously the company was operating with the mindset that “the best way to cut through the clutter was to create more clutter [ads with marginal quality control]”, it is now placing an emphasis on “consistency in brand building”. He believes that only with a consistent compelling message can brands attract consumers’ attention amidst the noise.
Havas, a multinational advertising and public relations agency, revealed some staggering results from its global survey: consumers would not care if 74 per cent of brands disappeared. This is because “60 per cent of content created by brands is ‘just clutter’”. The study found that content, when done right, helps to build “meaningful brands” which drive better business results. The right content is one that goes beyond communicating product benefits, into impact on consumers’ lives. In order to do so, brands need to understand their audiences. This is where magazines excel.
A study by Magnetic and Millward Brown has found that magazine media score highly across five key metrics needed to drive brand growth – meets needs, brand affinity (brand love), uniqueness, dynamism (sets trends) and saliency (top-of-mind awareness). Specifically, magazine propels brands beyond the saliency or awareness stage into being “meaningfully different”, which drives repeat purchase and grow market share.
So what is it about magazines that drive meaningful brand differentiation? Find out in this other post.
More like this
With Facebook and Google predicted to take half of the World’s total digital ad-spend in 2017, it’s no surprise that other players in the industry have raised concerns. But by updating their own data offerings to better reflect advertisers needs, media owners can keep pace with changing digital trends.25th Aug 2017 Opinion
If I were to ask you to describe the Internet of Things (IoT), I expect many of you would start to talk about how new technology is revolutionising the internet, providing “anything connectivity” through advanced networks, sensors, electronics, and software. And you wouldn’t be wrong.24th Aug 2017 Opinion
In her previous blog post, SPH Magazines' Hafizah Hazahal shared how the Google/Youtube ‘brand safety’ chaos has led to the industry’s reawakening to the importance of branding, vis-à-vis the pursuit of conversions in this digital age. When it comes to branding, a study by Magnetic Media has proven that magazine media excels in building “meaningfully different” brands which drives repeat purchase and grow market share.11th Aug 2017 Opinion
Harvard Business Review last week launched their new bot on Facebook Messenger, building on their success with a similar bot on Slack. The aim is to increase the number people having regular, frequent interactions with HBR to ultimately have them subscribe and/or up loyalty.21st Sep 2017 Features
While the rise of digital has led many publishers to reduce their print offering, Dennis Publishing has continued to invest. Kerin O’Connor, chief executive of The Week at Dennis, explains how it’s found success with a print version of The Week for children – and what it can teach the industry about the future of print…18th Sep 2017 Features
As one of Europe’s leading publishing houses, Gruner + Jahr has been through a period of major transition. Julia Jäkel, CEO, sets out how the business has managed that, and outlines the path for the future…18th Sep 2017 Features
In his new role as group director of Haymarket Consumer Media, Alastair Lewis is ensuring that some of the UK’s most respected specialist magazine media brands are positioned to thrive in an international environment.25th Sep 2017 Features
Research by PwC indicates a strong trend towards money being spent on advertising aimed at kids under the age of 13 on all digital platforms. The kids digital advertising market could hit the $1.2 billion mark by 2019, then representing 28 per cent of all advertising directed at the youngest.18th Sep 2017 Insight News
Visit our Youtube channelFIND OUT MORE
FIPP newsletters allow you to keep up with industry trends, research, training and events across the worldFIND OUT MORE
Get global coverage of your launches, company news and innovationsFIND OUT MORE
What’s happening now, what’s coming next