Advertising Week Europe brought together industry leaders and innovators to share valuable insights and perspectives on the evolving landscape of marketing and advertising. Let’s delve into some of the key takeaways from the sessions:
1. You can’t solve the world’s problems one brand at a time Rory Sutherland:
Rory Sutherland emphasised the importance of creativity in marketing, stating that the industry thrives on open-ended questions. He challenged the notion that the world’s problems can be solved solely through individual brand efforts, highlighting the need for a broader, more collective approach.
Contrary to common belief, merely lowering the cost of sale doesn’t necessarily equate to increasing customer base. Instead, the focus should be on selling effectively rather than efficiently, as emphasised during one session. This mindset shift can lead to more impactful engagement and stronger connections with consumers.
2. Building highly engaged communities through Content:
Three broadcasters turned podcasters Fearne Cotton, Giovanna Fletcher and Jake Humphrey explained what brands and potential partners need to understand the format. Put the audience first and always think how the content can serve them – expect authenticity.
Jake Humphrey of High Performance says the world is more exciting than ever and says to brands “Are you being ambitious enough? No-one will remember what you are trying to sell but how you make them feel. What can we do together that is really groundbreaking over a long period of time with a partner? If you’re coming with a fully formed idea maybe you are missing a massive trick.”
Jake Humphrey challenged brands to be more ambitious in their endeavours, emphasising the significance of emotional connections over product sales. By creating groundbreaking experiences and fostering long-term partnerships, brands can leave a lasting impression on consumers.
3. TikTok’s Summer of Sport: Creating Culture, Community & Conversation in 2024:
The panel highlighted the enduring engagement surrounding major sporting events, extending far beyond the event itself. People actively participate in discussions, sharing opinions, viewpoints, and humour on platforms like TikTok, even months before and after the event. This shift underscores a broader cultural relevance in consuming sports content, transcending traditional TV viewing. Furthermore, there’s ample opportunity for brands beyond the sports industry to engage with these audiences, leveraging platforms like TikTok to reach new demographics, including those interested in gaming, fashion, and food & beverage.
4. Growing Role of Retail Media and DOOH in Today’s Omnichannel World:
The panel discussed the significant growth and impact of Retail Media and Digital Out-of-Home (DOOH) advertising in today’s omnichannel landscape. Retail Media has emerged as a £100bn business, with first-party data being a valuable asset for dynamically adjusting ads based on contextual factors like season, current events, and stock availability. DOOH has become a favourite among marketers due to its ability to capture attention effectively.
Marketers are increasingly diversifying their budgets into DOOH, with 83% considering it the most innovative advertising channel. OOH’s wide reach and ability to engage audiences throughout the sales funnel, from initial engagement to point of sale, make it a crucial component of omnichannel advertising strategies. Overall, Retail Media and DOOH represent significant growth areas in marketing, offering creative avenues for brand exposure and engagement across diverse channels.
5. Switching Channels: From TV to tracks with Lemar and Wes Nelson:
Lemar and Wes Nelson discussed the evolution of their personal brands and the importance of authenticity in connecting with diverse audiences. They emphasised the need for experimentation and allowing creators the freedom to express their unique voices to resonate with their respective audiences to truly achieve success in their influencer collaborations.
6. LinkedIn & WARC: Unlocking the multi-billion promise of B2B with Mimi Turner B2B Institute and Paul Stringer WARC:
B2B has a brand problem – it’s not investing in brand building long term. Part of the issue is that B2B C‑suite doesn’t understand the language of brand measurement. Marketers will have more success reframing ‘brand’ as ‘the customer promise’ in convincing C‑suite and getting customers.. B2B Institute has conducted more research into campaigns that contain a customer promise versus those that don’t – shows a 1.6X market share increase more likely in customer promise campaigns and a market penetration increase 1.2X more likely.
Example of a B2B customer promise is Procell’s Battery Charger Man campaign.
Mimi Turner: “The customer promise is free and it’s a creative strategy.” Paul Stringer WARC “The customer promise is useful for reframing the word’ brand’ and a synonym for market orientation.”
7. Want to connect with a next gen audience? Get into gaming:
Giulia Zecchini Commercial Partnerships Strategy Director at ESL Face It Group and Megan Cheong, Account Director at GEEIQ, highlighted the opportunities for brands to connect with next-gen audiences through esports and gaming. Authenticity and long-term strategies were underscored as essential for success in this space, along with a deep understanding of the gaming community’s preferences and expectations.
“With gaming, there’s so much brands can offer to their audience, useful utilities that they wouldn’t be able to offer in traditional mediums.” Megan Cheong
Advertising Week Europe Sessions provided a wealth of insights and strategies for navigating the ever-changing landscape of marketing and advertising. By embracing creativity, prioritising authenticity, and leveraging emerging channels, brands can forge meaningful connections with audiences and drive impactful outcomes in the digital age.