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
At UPM Communication Papers we have a long history of demonstrating responsibility for the environment. But few people know that our sustainability agenda extends to also include a commitment to taking care of people and society throughout the value chain whilst simultaneously creating value for our customers through delivering products with high sustainability credentials.26th Nov 2018 Opinion
Forty-four per cent of the world’s news consumers get their news primarily via the smartphone, Reuters Institute states in its 2018 Digital News Report. But although technology has changed the distribution of news dramatically, the stories are still told in the same way as they were 100 years ago.19th Nov 2018 Opinion
They say that being a CEO is one of the loneliest jobs in the world. It’s particularly difficult when their organisation is facing, or in the midst of, disruption – a word that’s overused, yes, but also one that fits the bill because it epitomises the intensity of confusion, panic, and distraction that comes with massive technical and social changes.19th Oct 2018 Opinion
Billionaires are not buying prestigious book publishers or TV channels. What is so special about magazines or newspaper periodicals?18th Oct 2018 Opinion
This year has seen a dramatic increase in the financial importance of native advertising. For the third year in a row, we’re proud to present the findings of our annual global study, in cooperation with the Native Advertising Institute covering native advertising trends in the magazine industry.5th Dec 2018 Insight News
The last decade has been a fascinating one for women's mainstream media. Established titles have undertaken the shift from print to digital and in some instances have pioneered new ways of engaging their audiences.10th Dec 2018 Features
Vogue’s third Fashion Festival in Paris was a showcase of how the title not only monetises from events but also boosts brand awareness.10th Dec 2018 Features
In the year since new CEO Dan Hickey helmed suburban Milwaukee-based Kalmbach Media, he has been focused on the rapid transformation of the company from a traditional print publisher into a provider of high-quality media and related services for modern enthusiast audiences.10th Dec 2018 Features
Magenta Media is set to launch an Italian edition of Lonely Planet Magazine under a licencing agreement with Lonely Planet, which will be available from spring 2019.10th Dec 2018 Launches
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
What’s happening now, what’s coming next