The consumer landscape has become very cynical about big brands and the once tried and true methods of leveraging traditional marketing channels to build brands are not as effective with consumers as they once were.
Brands are shifting their focus to ways they can talk directly to consumers in a credible voice and in moments that suit the occasion they are a part of.
Brands need to be able to generate more earned media to build that credibility and trust. So, with earned media holding more weight than ever with consumers, why is the measurement of it still stuck in the dark ages? We know that the measurement equation for PR is still the number of impressions and how much they are worth when valued against advertising rate cards.
That’s great, but how did it affect my brand equity? Or the commercial value that derives from consumer perception of my brand or a particular product? What was the sales outcome as a result of the earned media attention my brand generated?
What’s the lasting halo effect on my brand as a result of that earned media and positive sentiment?
Trying to attribute campaign success to the buckets of paid, owned, earned and shared is becoming harder and harder to crack.
The lines are blurred between which category is doing the heavy lifting for your brand. These are questions I think really need to be explored in more detail and answered to really unlock the power of earned media for brands.
A version of this article first appeared in The Annual 2016 as part of The PhotoEssay series. The theme this year, was broad. Simply: 'discuss'. AdNews editor Rosie Baker asked marketers to write about 'elephant in the room' topics. The taboo subjects that are a concern, and get talked around - but never fully addressed. What in their businesses are the friction points, the bones of contention - where do they see the industry going to hell in a hand basket.
The photoshoot aimed to capture the heated conversation and boisterous discussion of topics that only emerge in the aftermath of a dinner party. The equivalents of politics, religion and sex in marketing and advertising. These will be the topics that dominate the agenda in 2017. Download the digital version of the magazine for $4.49 to see the whole series.
By Troy Taylor, Lego GM of Hong Kong, Macau and Taiwan (formerly head of marketing, Australia and New Zealand)
For more see:
A Marketer's Lens: Print is a key force in our marketing mix, by Domain's top marketer Melina Cruickshank
A Marketer's Lens: Don't grumble over challenges, by Fox Sports head of marketing, brand & social, Chris Gross
A Marketer's Lens: We need a better way of nurturing and celebrating big ideas, by Diageo marketing and innovation director, Adam Ballesty
A Marketer's Lens: Short-termism is bad for our businesses, by ANZ general marketing manager, Louise Eyres | 2 February 2017 0 Com
Read more at http://www.adnews.com.au/opinion/a-marketer-s-lens-do-marketers-need-to-be-re-educated#OW08CqXC4SLB1UKc.99