EMPOWER issue 4 'global society' Jan 2020
Founding Partner at Lucky Generals, Andy Nairn, says in the last ten years we've had a widening gap between rich and poor, ugly populism, the rise of...
Issue 4 - the road ahead
We're now in a new year and new decade and, inevitably, many of us want to know what might happen, particularly given these uncertain times in which we live. Handily, our network is a wise and knowledgeable one - this issue our writers explore co-operation and collaboration, cultural shifts to watch, innovations in technology that will shape society, purpose and principles and more.
Here's to a brave year, together.
Enjoy the issue.
Michael Piggott, Editor
CONTENTS
Select a story below to jump straight to the article. But first, to start the issue, read my note on Gemma Greavces stepping down and our hunt for a new CEO.
OPINION
Founding Partner at Lucky Generals, Andy Nairn, says in the last ten years we've had a widening gap between rich and poor, ugly populism, the rise of fake news and more. But this doesn't spell the end of marketing
(5 MINS)
INSIGHT
President, Americas at Canopy Insight, Victoria Gerstman, and the team share their take on five cultural areas poised to undergo seismic changes this year: entertainment, death and ageing, youth culture, health and wellness and technology
(7 MINS)
TRENDS
Innovation Lead Peter Gasston, with colleagues from VCCP, explores tech trends that influence industries and shape culture. Based on behaviours noticed over the last year, here are a few things they think will be big this year
(7 MINS)
ACTIVISM
Author, brand consultant and executive at The Value Engineers, Giles Lury, says we're in a period of growing activism not since seen the '60s and it's affecting the choices people make about products and brands
(5 MINS)
LEADERSHIP
Senior Director at Salesforce, Lara Martini, says leaders are no longer expected to be good at everything. But to stay ahead of the game they do need to have a vision, be authentic and grow talent from within
(5 MINS)
SCIENCE
What key trends can we expect from the sector in 2020 and beyond? Shazia Ginai, CEO of Neuro-Insight UK, offers her predictions, from unconventional methods to secrets to the power of context
(5 MINS)
The search is on for a new chief executive
...following the news that our very own Gemma Greaves is leaving the Society
THE SEARCH IS ON FOR A NEW CHIEF EXECUTIVE
...following the news that our very own Gemma Greaves is leaving the Society. The Marketing Society has gone global, Gemma has led the Brave agenda, pushing the industry forward discussing mental health, imposter syndrome, disability inclusion, diversity, neurodiversity, gender bias and more, and now it's time for a change of direction
Having joined The Marketing Society back in 2006 as its first ever membership manager, Gemma worked her way up to chief executive in 2017. During her tenure, Gemma transformed the business from a London-based network to the progressive global community it is today with seven thriving hubs worldwide in London (HQ), Scotland, New York, Dubai, India, Singapore and Hong Kong.
Gemma also introduced the ground-breaking brave agenda which focussed on the human side of marketing, shining a light on taboo topics not normally discussed openly such as mental health, diversity, age, race, imposter syndrome, gender stereotyping, sexual harassment and neurodiversity, creating safe spaces for members to have uncomfortable conversations.
Alongside this, championing the role of the CMO, the importance of marketing leadership in business and developing and nurturing emerging industry talent remained a constant focus.
Leading the search for Gemma’s replacement is Society Chairman Craig Inglis
with a little help from Gemma herself. President Syl Saller will be involved once candidates have been shortlisted along with another member of the board and we aim is to have a new CEO in place by June at the very latest. Gemma will stay in the business to ensure there is a smooth handover and transition period.
If you are interested in applying for the role or know someone who would be perfect for the job, please email any Gemma's EA Alanna.
The deadline for applications is 7 February.
How to be a braver leader, advice from Craig Inglis (chairman), Syl Saller (president) and Gemma Greaves (chief executive)
Commenting on her time at the Society, Gemma said,
'I can honestly say working for The Marketing Society has been the best part of my career. Being chief executive has been such an honour and I feel truly blessed. What a privilege it has been to lead such an influential network of the best and brightest in our industry.'
'There are so many things I’m proud of - creating the brave agenda and taking it global has been a real highlight. By creating spaces to talk about the things that matter we have started to make real change together and have a bigger impact.'
'I feel incredibly lucky to have met and worked with so many talented people especially my team, who are the unsung heroes in everything we do.'
'The time is now for a change and I’m ready to embark on my next adventure, continuing to grow my club Cabal and starting a new venture called Nurture, with my business partner Dan Cresta (formerly Naked Communications and the7stars), which will focus on our belief in the power of connections to build better businesses.'
'I know the Society will continue to flourish and we are looking for someone outstanding to take my place – the search is on.'
Gemma opens our London Bravest Conference 2019
Craig Inglis,
Customer Director at John Lewis and Chairman of the Marketing Society, added, 'I'm extremely sad to see Gemma leave, she's a force of nature and her relentless drive and positive energy have made her the lifeblood of the Marketing Society for many years. She is the reason why many of us became involved with the Society, she's been the driving force behind our expansion globally and the ground-breaking brave agenda that she masterminded will be her powerful legacy.'
While Syl Saller, Global CMO of Diageo and President of The Marketing Society said,
'I have loved working with Gemma. She is an iconic brave leader who has led a transformational agenda with heart and authenticity. She has led the Marketing Society to a new mission, which touches the lives of so many people. We should all be so proud of the clarity she and the team have brought to the mission, inspiring us all to be just that much braver'.
Here's to a decade of co-operation
Founding Partner at Lucky Generals, Andy Nairn, says in the last ten years we've had a widening gap between rich and poor, ugly populism, the rise of fake news and more. But this doesn't spell the end of marketing
HERE'S TO A DECADE OF
CO-OPERATION
Founding Partner at Lucky Generals, Andy Nairn, says in the last ten years we've had a widening gap between rich and poor, ugly populism, the rise of fake news and more. But this doesn't spell the end of marketing
Every January,
we try to predict what the following 12 months will be like. And when the New Year coincides with the start of a new decade this urge to prognosticate is, of course, even more marked. The natural tendency is to extrapolate in linear fashion, assuming that the dynamics which dominate the present will hold even greater sway in the future. But this is usually a mistake. More often than not, the trends of today are repelled by opposing forces: the conservatism of the ‘50s is replaced by the liberalism of the ‘60s; the anarchy of the ‘70s is overcome by the capitalism of the ‘80s; the waves of history shift by ebb and flow, rather than relentlessly onwards.
Personally speaking, I am glad that this is the case. Because as I review the last decade and look forward to the next, I find myself hoping for a cultural sea-change. In the last ten years, we’ve seen the rise of an ugly populism; the denigration of expertise and the advent of fake news; a widening gap between rich and poor; and a wilful ignorance of the plight of our planet. It’s been a decade of division, during which society has been atomised and individualism lionised at the expense of the collective good. If this were to continue unabated for the next ten years, I’d be pretty worried for our future. But, despite some obvious indicators otherwise, I think the tide is just about to change.
Consider the facts
(you know, those awkward voices of reason which have been silenced in recent times): in the next 10 years, earth’s population is due to increase by 1Bn to 8.5Bn; over the same period, our planet’s temperature is forecast to rise by at least 1.5 degrees Celsius (and only then if we take significant actions to limit it); according to virtually every reliable source, our current rate of consumption is unsustainable and without drastic changes to our way of life, we will be facing a climatic, economic, and cultural catastrophe. So what’s the alternative?
Well, I’m an optimist.
While I know that there are powerful, vested interests who would gladly accelerate the destruction of our planet and the demolition of society, in the pursuit of a quick buck, I think the movement against this is about to gain the upper hand. And importantly, I believe that marketing can play an active part in this epochal shift – rather than be a barrier to change. As long as we shift our collective mindset: from one of dog-eat-dog competitors to root-and-branch collaborators.
Creating opportunity through the sharing economy | Emily Castor | TEDxSacramentoSalon
Co-op | Food that helps fund local causes in your community #ItsWhatWeDo | Hereford Skate Park
I believe that this coming decade will see people, companies and countries coming together, like never before to solve the world’s problems – because we will have no choice. Sure we will compete, but not to the point of mutually assured destruction. We will fund each other; share cars, houses, clothes, tools and jobs; use technology to combat isolation, distribute power, spread learning and leverage group bargaining. Politicians from across the spectrum will embrace collective strategies – although of course, the solutions will differ wildly, from left to right. The philosophy of the East – where the notion of communal good has always been central – will gain ascendency and influence over the West. This shift will emphatically not mean the end of marketing. But it will sharpen our discipline, make it less wasteful and more socially useful. Brands will help us make better choices because it will be increasingly clear that we have no other choice. It’s time to put the years of division behind us. Here’s to a decade of co-operation.
Andy is a founding partner at Lucky Generals. Follow him on Twitter @andynairn
Cultural shifts to watch
President, Americas at Canopy Insight, Victoria Gerstman, and the team share their take on five cultural areas poised to undergo seismic changes this year: entertainment, death and ageing, youth culture, health and wellness and technology
CULTURAL SHIFTS TO WATCH IN 2020
President, Americas at Canopy Insight, Victoria Gerstman, and the team share their take on five cultural areas poised to undergo seismic changes this year
Understanding what’s set to change across entertainment, death & ageing, youth culture, health & wellness and tech.
ENTERTAINMENT
The entertainment landscape exploded in 2019, with new streaming services, platforms, interactive tech and increased access to varied types of content from a seemingly endless cache - all available from the comfort of the living room.
1. Binge backlash
In 2020 expect to see a backlash to endless content, with a movement away from binge-culture and toward responsible viewing. The entertainment industry is already beginning to acknowledge the negative consequences of non-stop content, encouraging viewers to pause and consider their mental health and overall well-being.
Example: During recent episodes of Britain’s Got Talent: The Champions, live shows were paused to encourage viewers at home to take a break from viewing and to open up to family members as part of ITV’s ‘Britain Get Talking’ initiative.
ITV's 'Britain get talking' initiative
2. Return of the live experience
The gradual mainstreaming of advanced in-home tech has brought cinema-like visuals, concert-quality audio and event-like atmosphere into the home. Along with the rise of binge-culture, this has engendered the opposite of FOMO – a desire to stay home and stream. In 2020, we expect to see a return to the pleasures of live entertainment.
Investors are putting funds toward new types of grand spectacle – creating bigger, better, more spectacular events – reviving the one-time-only experience.
Example: Madison Square Garden’s new Sphere (opening in Las Vegas and London in 2021) will feature 350-foot round domes covered by programmable, wraparound LED screens, with a 170,000 square foot display plane within the arena itself, a beam-forming acoustic system that customizes the sound to each individual in the audience, an “infrasound haptic” flooring system meaning guests can “feel” the experience, as well as taking the old concept of “Smell-a-vision” and filling the room with scents.
DEATH AND AGEING
2019 saw major shifts in attitudes toward getting older (embracing age versus fighting it), as well as shifting attitudes toward death (primarily in the movement toward ‘death positivity’). With aging populations on the rise around the world, we expect to see more and bigger cultural shifts around death and ageing in 2020
3. Old age individualism
Dominantly and historically, old age and post-retirement years have been catalysts for a loss of idiosyncratic individual identity, with all the things that make you *you* shed and stripped away as physical capabilities, personal autonomy and even the ability to live alone independently diminish. ‘Old people’ are commonly framed as invisible, part of a grey amorphous mass with few defining characteristics beyond their advanced age.
Emergently, though, older age is understood as a time for living more fully than ever before - for trying new things, experimenting with new pleasures, and becoming more fully yourself (or, if you want, becoming an entirely different you) than before. In 2020 we’ll see a rise in understandings of old age as a new phase of life – one in which the freedom from constraints of career or family mean living more fully, not less - and becoming more visible and more self-determined, not resigning yourself to fading into the background.
Example: Road Scholar is a Boston, MA-based travel company geared toward lifelong learners: “Students of the world, they are the guests you hope to sit next to at a dinner party. They've led interesting lives because they're interested in everything.” It’s one of many travel companies framing travel for the elderly as part of the adventure of later life.
Road Scholar: Boston: Birthplace of American Liberty
4. End of life fantasy
2019 saw a move toward embracing death via things like Living Funerals (allowing people to experience and enjoy their own funeral). 2020 will ask whether we really need to face death at all. Here we will see a move away from the idea that older (and sick) people need to engage realistically with their experiences of illness, weakness, dementia and death, to the idea that you can (and should) live out the end of life in fantasy land. A broader cultural movement toward play, alongside the mainstreaming of AR and VR will impact the way people experience their final, often difficult stage of life.
Example: Immerse Health is a VR company focused on using the latest virtual reality technologies to ease the suffering of dementia patients. The company offers packages specifically for nursing home residents, claiming that VR can help patients recall memories, as well as ease aggression toward caregivers.
Inspiring Elderly Residents with Real-World VR
12-year-old Mari Copeny
YOUTH CULTURE
In 2019, Canopy dug deep into the lives of Generation Alpha (kids under 10) – including working with Beano Studio’s on their Gen Alpha Whitepaper – and the lives of tweens. We’re optimistic about the impact young people will have on their world, and vice versa.
5. Alpha activism
Cultural framings of what it means to be young are undergoing a huge shift – with the consequence-free individualism and experimentation of youth giving way to collective responsibility. Alphas and tweens are taking on ever more socially-aware cultural roles, with young people framed as increasingly politically and culturally-literate, and purposeful in their thoughts, speech and actions. In 2020, expect to see Generation Alpha take centre stage, becoming even more aware of their power as a collective social body, and ready and able to contribute to the wider (global) collective.
Example: 12-year-old Mari Copeny (aka Little Miss Flint) has become a leading figure in the clean water movement after. Part of a growing group of pre-teen activists around the world, in September 2019 she launched #WednesdaysForWater with the aim to raise awareness of a different location in need of clean water every week.
6. Online positivity
In 2019, awareness about the perils young people face online reached an all-time, hysteric high. In 2020, we expect to see a reclaiming of the positive potentials of the online world. Here, we see a shift from digital worlds being fraught with worry, fear and anxiety to an emergent framing of online environments as places of opportunity and empowerment. Educational, digital and governmental systems are helping kids use their digital savvy to recreate a new, respectful and enriching culture online.
Example: Google’s Interland (below) is an online game that teaches children to be smart online. It is part of Google’s “Be Internet Legends” campaign, designed to help “children be safe and confident explorers of the online world”.
Google's Interland: Play your way to Internet Awesome
HEALTH AND WELLNESS
After years of strict advice and stricter gendered understandings of wellness, we’re expecting 2020 to be the year where the constraints of health and wellness loosen, making room for people to engage in wellness discourses in new ways.
7. Pleasure-centric wellness
In the world of health and wellness, achieving peak wellness has typically meant following strict diets, fitness routines and mental health practices that require hard work and sacrifice, in which the reward is the idea of wellness itself. In 2020, we expect to see new and varied paths to wellness opening up. A particularly exciting development is the rise in links between wellness and enjoyment, where to be well is to indulge in care-free, fun and pleasurable ventures.
Example: Barcelona-based sexual wellness app Emjoy aligns wellness with female sexual pleasure, stating: ‘Self-care for your body and mind goes beyond fancy body scrubs, smelly candles or evenings on the treadmill. ..What’s a natural pain killer, anti-ager, moisturiser and stress reliever? Orgasms, obviously!’
8. Male hormonal health
Recent years have seen various degrees of cultural shifts around what it means to be a man. In the coming decade expect to see notions of manliness evolving at a faster pace. In the UK, for example, movements in men’s health are slowly beginning to mirror hyper-specific, hyper-personal trends seen in women’s health, with access to new services focused on hormonal and sexual health.
This is part of a broader rebalancing of gendered responsibilities; where typically women would take responsibility over reproductive and hormonal health we are – at long last – starting to see the same roles taken up by men.
Example: Forth Life offers at-home biomarker testing designed to allow users to understand and optimize their biological health. Forth Life offers a Male Hormone Test package, “a comprehensive test of key male hormones which can affect libido, muscle strength, energy and much more”. In a field dominated by concern over female hormones, this suggests a move toward understanding uniquely-male biology to the same degree.
TECH
9. Active data sharing
In 2019 businesses focused on compliance when it came to consumer data, racing to be the first, best and most transparent in order to achieve a competitive edge within their industry. In 2020, we’ll see a move beyond compliance toward business and organizations actively lifting the lid on previously safeguarded data – freely offering information so that others can learn from it, fostering a new system of corporate openness and collective responsibility. Expect to see major impacts on various industries and especially in the world of healthcare.
Example: UK-based CarbonCulture is an open platform designed to help people and businesses use resources more efficiently. Their first group of participating organisations (including 10 Downing Street, Tate Modern, and University College London) have all chosen to publish their energy and carbon performance in real time, and “welcome ideas and feedback from their employees and the public about how to get better.”
10. Democratized, transparent banking
The rise of fintechs and Open Banking in 2019 gave users greater access and greater knowledge to options when it comes to money. In 2020, we expect to see a greater shift toward active engagement when it comes to finances. Instead of simply trusting banks or experts to handle and optimize money and finances, people will become even more actively engaged, taking advantage of multiple, simultaneous offerings and making the most of ever-increasing number of options for actively handling one’s own finances. In 2020, the most notable shift will be democratized access to bank accounts, loans and credit for the previously “unbanked”.
Example: Mexican fintech start-up Klar is a digital challenger bank that wants to “democratize bank services in Mexico by offering a 100% digital, transparent, free and secure alternative to traditional credit cards and debit services”
Victoria is President, Americas at innovation and insight agency Canopy Insight. Follow them @canopyinsight
Tech trends in 2020
Innovation Lead Peter Gasston, with colleagues from VCCP, explores tech trends that influence industries and shape culture. Based on behaviours noticed over the last year, here are a few things they think will be big this year
TECH TRENDS IN 2020
Innovation Lead Peter Gasston with colleagues from VCCP, explore technological trends that influence industries and shape culture. Based on behaviours that the agency team have noticed over the last year, here are just a few of the things they think will be big this year
Digital gets physical
Most people’s experience of augmented reality is looking at themselves through a lens on Snapchat or Instagram, or virtually trying on makeup from L’Oreal or MAC. But AR is increasingly being used to look outwards, driven in part by experiences that use the camera in the mobile browser, an excellent option for marketers as they don’t need to build, maintain, or download an app. Using AR to digitally enhance static media is moving into the mainstream: Google Lens brought the New York Times to life for Stranger Things, and Trainline turned posters into live timetables at Waterloo station. This will mean big things for digital and out of home advertising.
The next big tech platform will be a hyper-detailed layer of interactive information over the real world. Known as the AR Cloud, or ‘the mirrorworld’, the race to make this map involves everyone from tech giants to startups. The mirrorworld makes the physical world ‘clickable’. It enables new types of spatial experiences - you can see early examples in Google Maps’ Live View, Snapchat’s Landmarker Lenses, and AT&T’s Dallas Cowboys 5G experience.
Dallas Cowboys 5G experience
Google Lens and Stranger Things
Bye bye big social
If the decline in engagement and the #deletefacebook backlash are anything to go by then Big Social may have peaked. Almost two-thirds of under 24s say they’re taking a break from social media, with a third saying that break is permanent. Metrics are often blamed for feelings of envy and unhappiness, so Instagram is running a trial to promote more authentic and organic sharing experiences by removing public likes and view counts. If this is a success, other companies will soon follow.
The public newsfeed is giving way to online communities where people have a safe space to express themselves.
People want to connect with like-minded people who share their passions, whether it is knitting, technology, design, cosplay or music. This ‘social splintering’ can be seen in the rise of focused, smaller social networks like Ravelry and Peanut, and in Facebook’s shift of emphasis to Groups. Twitch is trialling Watch Parties, where creators invite audiences to watch Amazon Prime TV content with them, allowing for a shared viewing experience.
Social network for mothers, Peanut
Evolution of entertainment
The West is significantly behind the East when it comes to social music. Many Chinese music platforms, such as streaming service Kugou, integrate social interactions between consumers and artists. Kugou allows users to join artists’ live streams and send them virtual gifts that convert into real currency.
Facebook signed licensing deals with major labels in 2018 with the aim to fill the social void in Western music; the introduction of music stickers on Instagram was just the beginning.
From radio to on-demand streaming, audio media has traditionally been dominated by music. But speech-based audio entertainment, like podcasting, is on the rise. Spotify spent £310 million on acquiring podcasting companies in 2019, with this expected to continue into 2020. Podcast listenership is up 24% from last year, with 7.1 million people in the UK listening to podcasts every week, and audiobook listenership has grown 43% in the same period.
Gaming is a ‘sleeping giant’, largely ignored by the media and adland. Fortnite has become a household name due to its large player base and even larger audience who watch games on social video services like YouTube, Twitch, and Mixer. In 2020 cloud gaming services, like Google’s Stadia, will bring console-quality gaming to mobile devices, and make the social and playing audiences even more tightly integrated.
Retail revamp
Much of Fornite’s £1.8bn revenue in 2018 was generated from players buying character skins and emotes. Digital appearance matters and the fashion industry has taken note, as shown by Louis Vuitton’s collaboration with League of Legends to design in-game items. Digital clothing has the potential to expand well beyond gaming; blurring the line between the physical and the digital gives rise to companies like Genies and Bitmoji, which let you represent yourself online with a digital avatar that you can dress in official apparel from Gucci, Supreme, Forever21 and more.
Fortnite - every character skin, weapon and emote - season 1
Louis Vuitton's new skins for League Of Legends
Live-streamed video retail is big business in China. Trusted influencers make product recommendations (known in slang as ‘planting grass’) which lead to purchase conversion rates up to 5,400% higher than the e-Commerce average. Western companies are catching on to the trend; Amazon Live is an obvious example, but other video services like Instagram and YouTube are also scaling up their e-Commerce tools.
There’s so much more we didn’t have space to include, from Alexa-powered jewellery to the life-saving applications of machine learning. 2020 is set to be another interesting year for innovation, technology and culture.
Amazon showing off the Echo Loop smart ring
By Peter Gasston - follow him @stopsatgreen
With contributions from Jenn Crotty, Sophia Abdo, Fernando Costa, Dougal Gray, Nathaniel Hully, Camila Toro, and Jake Webster. With thanks to Sarath Koka.
A world of purpose and principles?
Author, brand consultant and executive at The Value Engineers, Giles Lury, says we're in a period of growing activism not since seen the '60s and it's affecting the choices people make about products and brands
A WORLD OF PURPOSE AND PRINCIPLES?
Author, brand consultant and executive at The Value Engineers, Giles Lury, says we're in a period of growing activism not since seen the '60s and it's affecting the choices people make about products and brands
It seems like the marketing world is on a mission to replace vision with purpose.
A secondary but linked debate has started around the adoption of principles rather than the use of values. If both these changes happen, then two of the traditional pillars of any brand positioning will have been replaced so it’s worth pausing and considering what is meant by each of the new terms, what are driving the changes and what it means for companies adopting them.
On purpose
As with most marketing terms, there are a variety of definitions of brand purpose, but most revolve around inspiration, aspiration and higher order benefits for society and the environment. Jim Stengel in his book Grow said a purpose was, “A business’s essential reason for being, the higher-order benefit it brings to the world” Roisin Donnelly, P&G Northern Europe Brand Director, highlighted the need for longevity and breadth saying, “Purpose isn’t about having one tactical campaign with a charity or an agency – it has to be big, inspiring, simple and memorable. It has to inspire every single person in your company, as well as shareholders, stakeholders and agencies.”
Analysis, we at The Value Engineers conducted, on the 100 most valuable brands (according to Interbrand) highlights some interesting findings. The purposes we saw on the whole reflected these definitions of purpose. They were more ‘big picture’ e.g. Allianz “to enable people to move on and up in life and business.” Some brands we reviewed aren’t planning on replacing their vison/mission with a purpose but rather using both terms. This is a reflection of the different perspectives they take.
Why?
There would appear to be three factors that are driving this change. The first is the increasing recognition that the world is facing some huge challenges, from global warming to continuing poverty; there are social injustices and political and social tensions. These are no longer matters that just concern scientists, academics and analysts, they are increasingly part of a growing global social conscience. Whether it is teenage influencers like Greta Thunberg, social movements like #metoo. We are in a period of growing activism and its already at a level not seen since the 1960s. It’s affecting the choices people make about products and brands whether that’s the amount of red meat they eat or the number of flights they take. It’s also starting to impact on their brand choice to a much greater degree than before. According to a 2017 study by Cone in the US, 87% of consumers say they would buy a product because a company advocated for an issue they care about
The second reason is that marketing is a young person’s profession and the new generation of marketers and indeed many of the older ones too, have the same concerns. Mark Ritson went as far as to say that “this current obsession with brand purpose stems, I believe, from marketers that are unhappy with the prospect of selling stuff.” He went on to say, “At some point in the last 10 years it became uncool to take professional pride in making splendid products, satisfying customers and generating significant profits.”
The third reason is that there is a body of evidence that suggests it pays to be good. In ‘Grow’ Stengel sets out evidence that “Brands build value, whether in consumer products or professional services. Evidence suggests that over a 10-year period, businesses with clearly defined and consistently executed brand purposes deliver on average 400% better returns to shareholders”
The era of higher ideals in business | Jim Stengel
Other studies have shown that employee stay longer in a company, customer retention is higher, and people are more likely to recommend brands that have a clearly defined purpose.
But…
All this might suggest that purpose is the way forward but like many new ideas it seems like adoption is slower than might be expected. Our study of the Top 100 most valuable brands showed that only 14 had purposes. This compares with 36 that had visions, 48 that had missions and 60 that had visions and/or missions. There was a tail of 33 that had none of them or chose not to publish one. The final challenge with regard to adopting a brand purpose goes back to Roisin Donnelly’s definition of purpose and the idea that a purpose isn’t just for a campaign but for life.
The problems here have been two-fold. The first is that there are numerous occasions when brands and the companies that own them have had to choose between their purpose and short-term profit and too often they have bent or broken their promises rather than fail to deliver the returns the city or stakeholders demand.
The other is that some of the campaigns used by brands to promote their purposes have come in for criticism and even backlash, the most famous, or infamous, of which was probably the Kendall Jenner Pepsi ad.
Why Kendall Jenner's Pepsi ad is so controversial - Washington Post
Principled
Our review of the brand positioning of the most valuable brands over the years has looked at not only their mission and visions but also their values. The conclusion from these studies is that a high percentage of brands all gravitate towards the same values. (see table 1 below - click image below to expand it)
While these values aren’t ‘wrong’, the chosen values tend to be motherhood and apple pie statement, ones that no-one will disagree with and which boards can agree to agree on. I amongst others have therefore been arguing that values have become devalued and that they don’t play one of the key roles required in a good brand positioning. They don’t provide meaningful distinctiveness from one brand to another.
The alternative is for a brand to define their beliefs, their principles and/or their ‘philosophy’. A good principle should define a non-negotiable stance that a brand takes, something it might campaign for, something that helps employees know how they should act. It is generally a longer description of the idea rather than the 1 or 2 words used for a value and allows for a brand’s personality to shine through more. This helps further differentiate brands. The strength, but also the difficulty with them though, is that a true principle isn’t a principle until it costs you money.
So as with the adoption of purposes, while there has been an increase in the number of brands who cite principles, values remain more prevalent. Out of the top 100 most valuable brands 56 cited Values, while 9 talked to Principles, 7 to Philosophy with 15 having Principles and Philosophy. 35 do not formally mention any values. On average brands mentioning values have 4.8 of them, while those mentioning principles have 5.
So, what does the future hold?
The world isn’t going to stop changing. The problems it is facing won’t disappear overnight. Societal pressure on brands is going to increase. The need for brands to express their true purposes and their philosophies is only likely to grow but with that will come with pressure to ensure they deliver on them. Purposes will need to be clear, but not necessarily lofty. Philosophies will need to be based on truly distinctive principles worth fighting for and backing, not just comfortable platitudes.
It will be an interesting time to be a marketer.
Giles Lury is a Director at brand consultancy The Value Engineers and author of ‘The Marketing Complex: Why Modern Marketers Need to Manage Multiplicity’
This is a generic brand video, by Dissolve
Staying relevant
Senior Director at Salesforce, Lara Martini, says leaders are no longer expected to be good at everything. But to stay ahead of the game they do need to have a vision, be authentic and grow talent from within
STAYING RELEVANT AS A LEADER
Senior Director at Salesforce, Lara Martini, says, these days, leaders are no longer expected to be good at everything. They need to have a vision, stay authentic and grow talent from within to truly stay ahead of the game
It’s been a few centuries since scholars were last able to be experts in every field of human knowledge – in fact, even remaining an expert within one’s own domain is increasingly challenging. And as we grow into management and leadership positions, the pressure gets higher. How can you stay up to date when conversations range from technology to social fads? What if the new intern understands the online influencer landscape better than anyone else, and can create a visual data report in minutes?
It’s sometimes hard to admit it – one way or another, almost everyone seems to have deeper knowledge than their management. The good news is, the old world when leaders were expected to know more than their team is gone. You’ve heard the headlines: hire complementary skills, develop talent, and choose better professionals than you are. But what if you don’t feel comfortable not being able to back your team up? How do you keep your edge and credibility? And how can you retain that sought-over precious talent in your group?
Here are a few things I think can help today’s marketing leaders:
Avoid details, have a vision
The first thing is, breathe. No-one is asking for a micro-manager watching over their shoulder. Instead, take the time to shape a clear vision, and get your team well aligned. Sometimes it’s actually beneficial for a leader not to be in the details.
For example, it’s almost easier for non-technical leaders with a strong business understanding to manage a software development team, than for technical start-up founders to get along with their first sales’ director, where the temptation to control the commercial strategy is highest. Your job as a leader is to set the direction, choose the best talent and remove barriers. That’s where your time is best spent.
Coach and question
But how do you still get involved and add value? It’s a great idea to practice strong coaching skills. Your team will still know you have their back, are checking for blind spots and support their success. It’s amazing how effective the right questions are, asked at the right time.
A good reference point here comes from non-executive Boards. While non-executives are expected to do their due diligence both within the organization and in the market, they’re often outsiders to the company and even the industry. And while they will approve large investments and give the go/no-go for significant decisions, they’re not there in the day-to-day and are not expected to answer their own questions.
Hire well and stay authentic
All right, I hear you. As an executive manager and leader you need to deliver results, and you don’t think you can get there through coaching and mentoring alone. First of all, make sure you have the right people – hiring is a decision you can’t delegate. In my opinion, being genuine is the other thing that makes the difference. Many of us are a notch uncomfortable admitting we’re not able to design that campaign as well as the young new hire in the corner. And yet, admitting as much and recognising others can be a true game-changer. Like the emperor’s new clothes, most people will be relieved to have a chance to learn together if you create the opportunity. Stay brave, and champion others’ ideas when they’re good; even better, make it a team learning exercise.
Grow from within
By the way, developing talent is the best way to retain it*. You can bet your new hire wants to learn – and so, hopefully, does everyone else on your team, including you. So yes, we all need to be a bit more technically savvy and close to the customer than we used to be. But leadership doesn’t require knowing everything upfront – skills will keep evolving anyway - it demands a willingness to be role models in learning and sharing, and enjoying that journey.
The best way of staying relevant is by having a vision, hiring the best talent to get there, being a coach, celebrating your team’s successes, and creating opportunities to learn – for your team, and for yourself.
Reference: Forbes - developing your employees
Neuromarketing 101
What key trends can we expect from the sector in 2020 and beyond? Shazia Ginai, CEO of Neuro-Insight UK, offers her predictions, from unconventional methods to secrets and the power of context
NEUROMARKETING 101
What key trends can we expect in 2020 and beyond? CEO of Neuro-Insight UK, Shazia Ginai, offers her predictions, from unconventional measurement to secrets to the power of context
While neuroscience has long been used in the medical field, its only in recent years that it’s been used in the market research sector. But despite being in its relative infancy, the neuromarketing industry is growing at immense pace, with a report by Global Neuromarketing Technology Market forecasting that it will register at a compound annual growth rate of 12% between 2019-2026.
Neuromarketing allows us to look right into people’s brains to see how they’re responding to advertising and why – which, in an era obsessed with factors like transparency and ROI, is a huge asset. So it’s not surprising to see this industry gaining traction and popularity. But what specific trends can we expect to see driving its growth in 2020 and beyond?
A growing appetite for unconventional measurement methods
The latest Grit report highlighted a growing dissatisfaction from marketers with traditional techniques like Click-Through-Rates and impacts to measure advertising effectiveness – and this rising appetite for methods ‘outside of convention’ will act as a powerful driving force for the neuromarketing industry’s continued expansion next year.
On the surface, it seems easier and cheaper to rely on these methods. But the problem is, in an industry so convoluted, they are no longer supplying the answers we need. They provide data but not enough insight about the underlying motivations of consumers which ultimately leaves a gap in understanding of the right levers to grow brands in this tough climate. There’s been growing dissatisfaction with these traditional methods for some time, but 2020 will be the year advertisers show they have skin in the game by investing in more robust, reliable and actionable measurement techniques like Neuromarketing.
Desire to move away from short-terminism
Underpinning this eagerness to get results, in part, is the growing desire to move away from short termism and towards prioritising long-term advertising effectiveness. The poor economy has fueled a drive toward treating advertising effectiveness as a tick box exercise, but there’s a creeping realisation that this isn’t a valuable, or even accurate way to measure true advertising effectiveness, which is often built over time. And while this narrative has been talked about before, we’re now hearing more and more that brands are filtering agencies according to whether they can deliver the long-term effectiveness they’re seeking. So being able to understand and more importantly, prove, how advertising campaigns are driving value for the long-term, is becoming increasingly vital – something neuromarketing is more than qualified to do.
People are getting more comfortable with behavioural economics
At the same time, as people get more comfortable with behavioural economics, this is creating a positive knock-on effect on the neuromarketing industry by leading them to want to learn about the psychology behind advertising in its totality. Aiding this is the fact that technology in this space is advancing and becoming more accessible. Biometric techniques used to be very expensive, and equipment was bulky, but with more players entering the space, the prices are reducing, which, along with technological advances, makes non-conscious methods more research friendly. As it becomes more common, the risk-factor associated with these more unusual or less ‘tried and tested’ methods will also reduce, and marketers will feel more confident using neuroscience as a marketing tool.
BBC's time lapse Dracula billboard
Renewed focus on the power of context
Ten years ago, you might have seen a movie advert on a billboard, and then again on the TV a few days later. But now we’re likely to see several versions of the same campaign across a much wider selection of devices, platforms and environments – both physical and editorial. These factors all play a role in modifying how we respond to advertising campaigns. But what many people don’t realise is that most of those modifications take place implicitly. As such, we’re still caught in a crossfire between wanting to be able to target people in a highly specific way – via radio, or Out-of-Home media, for instance - and not really understanding how all these other factors are impacting how we process that advertising subconsciously. As pressure builds on advertisers to prove the value of their investments, we can expect to see renewed focus on trying to understand, and harness, the power of context. But with so many factors to consider, it’s pretty much impossible to measure this with traditional measurement techniques so it’s likely that neuromarketing will find itself at the helm of this trend.
No room for secrets
We know consumers want more personal, customised brand experiences. But the complex nature of the human brain, means it’s possible for consumers to conceal — even subconsciously — their true preferences and opinions. But neuromarketing leaves no room for secrets. This makes it a powerful tool for both driving, and measuring, truly powerful advertising.
As the industry matures In 2020 and beyond, the priority for advertisers should be on educating themselves on the value neuromarketing could bring to their business and seeking out quality partners that can guide them in this space.
Can advertisers manipulate your brain through neuromarketing?
Shazia is CEO of Neuro-Insight UK. Follow them on Twitter @neuro_insight
Upcoming events
Recommended dates for your diary at our hubs around the world
DATES FOR YOUR DIARY
Here's our pick of Marketing Society events happening around the world that we recommend as ones not to be missed. You can see also see all the upcoming events on our website
22 JANUARY, LONDON
Join us for an intimate lunch with Severn Trent's CEO, one of the UK's top female bosses
27 JANUARY, DUBAI
Discussing how leaders can help make the UAE more inclusive for business
23 JANUARY, EDINBURGH
Hear from fantastic Gold-winning campaigns when preparing your entries this year
28 JANUARY, NEW YORK
NYC chair Margaret Molloy will host, with four of the city's top marketers
