The Recipe For Return On Investment (ROI)

The Recipe For Return On Investment (ROI)
SHARE
THIS



Too much brand building and you risk losing sales. Too little brand building… and you still risk losing sales in the long term. 

Marketers know that when it comes to building out their campaigns, a perfect mix – across the media landscape –  is required to achieve the best ROI. 

But getting this mix right is no easy feat. In the latest episode of Rethink, a podcast by Think with Google, host Rachel Corbett explores the nuances of the perfect media mix, getting insights from two industry experts and a little help from Google.

Corbett is joined by Google’s Head of Consumer and Insights, Rachael Powell, who explains how marketers can rethink their approach to video content in order to achieve greater ROI.

She uses the example of Game of Thrones. While YouTube did not air actual episodes of the series, the video service saw almost 2 billion views on GoT content, whether it be interviews or reaction videos, during the month of the season eight premiere.

“It was our audiences really looking for kind of deeper and broader ways to engage with the content they saw on television,” Powell said.

“And if you think about it that way, you start to think: ‘how can I plan video more holistically, rather, in silos?’ 

“In turn, that impacts your ROI. So we’re seeing things like an increase in, on average, thirty five percent in your ROI When you start to plan for TV plus online video.”

Powell also dissects some common ‘myths’ when it comes to the marketing mix, such as the notion TV is the most powerful channel for brand building.

“It’s actually really not a channel argument or discussion. It’s a format one. In terms of long term brand building and sales, it’s moving pictures and sound. So any video content that is going to build those memory structures and drive long term brand building,” she says about this concept.

She is also asked whether search should be considered separate from marketing, as it does not have a place in the budget.

“Search has for many companies set off on its own with a separate team. But we’re increasingly seeing the need to drive media synergies and look at bringing different media plans together and breaking down some of those silos. 

“When you combine TV and search together, you get an incremental 25 percent in your return on investment. 

The competitive value of brand

Also joining the podcast is IAG CMO Brent Smart, who points to the competitive value a strong brand can carry.

Working with an insurance company, Smart is all too familiar with the importance of brand building.

“Insurance tends to skew a bit older, mainly because the older you are, the more stuff you’ve got to insure. But when we’re doing the brand building, we’re kind of going after everyone,  but then we get a little bit more targeted with different product lines,” Smart says. 

“Building a strong brand creates such an awesome competitive advantage for businesses. 

“It means you can charge more. It means that you can ride out some of these challenges we’re facing right now better than other brands, because people trust you more people give you the benefit of the doubt. They stick with you. And that is amazingly powerful.”

When it comes to brand building, for Smart and IAG, video has emerged as a valuable channel. However, rather than talking about television or digital, it’s all about screens.

He gives the example of First Saturday, a campaign which calls on the public to help first responders by making their homes safer.

“I think with emotional storytelling, you definitely need video,” he says. 

“We tend to think about a screen strategy so we don’t think about television and digital we just think about screens. 

“What’s an overall screen strategy that gets us in front of the right sort of people and the right sort of reach?

But the other great thing about First Saturday, it is an event to also plan our media around. So whilst we can do the emotional brand building and sort of priming of the audience sort of three weeks out, on the actual week of First Saturday, it’s more call to action type of communication saying: ‘here’s what you need to do this Saturday, get involved.’”

The channel mix

The notion of ‘channels’ in marketing has fundamentally changed. 

What was once a three or four channel choice is now an endless array of options for marketers to invest their media spend.

So how can they choose the right one?

According to Group M CEO Mark Lollback, it’s all about the three C’s.

“There’s channel planning, but out of that is then also context planning and then out of that is creative planning. And if you look at that, that’s the most exciting world you can live in when it comes to marketing,” he says.

“So it’s not really just about choosing the channel, but then who’s there? What time of day, what are they doing? What’s the environment? And therefore, what’s all the context that I need to worry about and where we can’t get lazy is following that through to the best creative solution we can possibly deliver in that moment.”

Lollback also explains why having a mix of channels for various messages is important.

“I think all of the data and all the research shows it’s almost like an orchestra. It’s the combination of the different messages across the different channels that really creates the magic.”

You can listen to the first episode of Rethink, by Think with Google on Google podcasts, on Google Podcasts, Apple Podcasts, Spotify, Stitcher, Podcast Addict or TuneIn.

This podcast was brought to you by Think with Google. Created by The Hallway & Eardrum- in partnership with Google.’

 

Please login with linkedin to comment

Google rethink

Latest News

Wild Turkey And Matthew McConaughey Recognise Aussie Local Legends
  • Media

Wild Turkey And Matthew McConaughey Recognise Aussie Local Legends

Wild Turkey and Creative Director Matthew McConaughey, in partnership with Eleven, unveil a new Wild Turkey With Thanks initiative. The integrated campaign is shining a light on Australian Local Legends who have stood with conviction supporting their environment and communities throughout the crises of 2020. Wild Turkey’s With Thanks is a global, annual platform, wherein […]

Australian Rules football on grass
  • Uncategorised

AIA Australia Partners With Yet Another AFL Team

AIA Australia has announced that it is now the official life, health and wellbeing partner to the AFL’s St Kilda Football Club. According to the company, the new partnership will provide club members with learnings, tools, and strategies that they can use to lead healthier lifestyles. Members will at the same time receive access to […]

Apple Ads Spark $16M Lawsuit
  • Technology

Apple Ads Spark $16M Lawsuit

Apple has been fined $16 million for misleading ads. Tim Cook pays it with loose change from behind the couch.

by B&T Magazine

B&T Magazine
AppsVillage Partners With TikTok To Allow SMBs To Advertise To TikTok’s Aussie Users
  • Technology

AppsVillage Partners With TikTok To Allow SMBs To Advertise To TikTok’s Aussie Users

Small to medium sized businesses will now be able to advertise on TikTok through SaaS solutions provider AppsVillage (ASX:APV). APV will allow SMBs to create and manage campaigns on TikTok in under three minutes using its AI software and advertising management platform JARVIS. The partnership makes the most of TikTok’s self-service advertising offering which launched […]

DOUBLESTAR CO Turns Technology Stunning With New Brand Livery For Australia’s Own Advanced Navigation
  • Advertising

DOUBLESTAR CO Turns Technology Stunning With New Brand Livery For Australia’s Own Advanced Navigation

To keep pace with their transformative technology, Advanced Navigation turned to DOUBLESTAR CO for art direction, 3D modelling and design help that would capture the value proposition and offering of Advanced Navigation: AIR, LAND, SEA & SUB-SEA for their upcoming campaign “Accurate positioning in the most demanding conditions”. Advanced Navigation’s Head of Marketing Romain Pare […]

Tom Pitney Promoted To Strategy Director At Junkee Studio
  • Media

Tom Pitney Promoted To Strategy Director At Junkee Studio

Junkee Studio, oOh!media’s creative and social agency division, is capitalising on another successful year by announcing the promotion of Tom Pitney to Strategy Director. Pitney will now drive the direction of Junkee’s in-house creative and strategy team, which produces bespoke content solutions for brands to help them tell and share their stories across their owned […]

Cricket Australia Boss Slams Seven For Talking “Our Wonderful Game Down”
  • Media

Cricket Australia Boss Slams Seven For Talking “Our Wonderful Game Down”

Cricket Australia’s (CA) interim CEO Nick Hockley (main photo) has slammed broadcaster Seven for talking “our wonderful game down”. In a blistering attack on its broadcast partner, Cricket Australia lashed Seven for its ongoing legal stoush as it attempted to exit its four-year deal with the sport. As reported on B&T today, Seven West Media […]

by B&T Magazine

B&T Magazine
TAC’s Christmas Campaign Via TABOO Urges Victorians To ‘Spend It Wisely’
  • Campaigns

TAC’s Christmas Campaign Via TABOO Urges Victorians To ‘Spend It Wisely’

Road safety meets a time-honoured Christmas tradition with the launch today of the Transport Accident Commission’s ‘Spend it Wisely’ advent calendar initiative, developed in close partnership with Melbourne-based creative agency TABOO. The digital advent calendar provides 25 days of road safety tips, plus offers and discounts to businesses throughout the holiday season, to help Victorians […]

Fort Wayne, Indiana - Circa April 2017: Pepsi and PepsiCo Vending Machines Awaiting Repair. Pepsi is one of the largest beverage producers in the world IV
  • Marketing

PepsiCo ANZ Appoints New CMO For Snacks & Beverages

PepsiCo Australia and New Zealand has announced the appointment of Vandita Pandey to the newly created role of Chief Marketing Officer for both snacks and beverages. Pandey comes from Frito-Lay (a PepsiCo company) in the United States where she has spent the last 11 years in roles that span across marketing, corporate strategy, insights and […]