Getting the most out of your advertising budget is more important than ever right now and as with any dilemma, the answer as to how is often hotly contested.
Whether you sit on the side of ‘Camp Creative’ which hails artistic execution as supreme, or you argue that media planning is the groundwork that ultimately drives profits, the question is usually divisive.
Kantar’s recent study tries to find us some closure. Not only do they rank various factors in order of importance to best maximise ROI, but they also compare results against the general opinion of the marketing community.
Which comes out on top? Communications and planning? Brand size? Creativity? It turns out the latter two are largely underestimated, but that’s not the key takeaway. What’s important is that they all matter, and crucially, they matter in equal proportions.
As with any recipe for success, finding the perfect balance of ingredients is key. Think of advertising profitability as pancakes. While your nan might claim it’s her magic touch, you’re unlikely to argue that one single ingredient is what makes them so tasty.
To fulfill that ultimate aim of an irresistible stack of maple-syrup deliciousness (or a maximised total ROI) you have to find the perfect combination, the sweet spot. The importance of understanding the nuances of a successful marketing approach is precisely what is so revealing in Kantar’s report.
Without really knowing your audience or how they interact with different channels, even the most gifted of creatives will miss the mark. The key is coalescence and consistency. By optimising a diverse media mix and treating it as a test-learn-evolve process, the creative aspect will be more focussed and brand-building can be sustained. (Plus, your pancakes will be irresistible).