Marketing Briefing: Agencies see more RFPs for brand building amid ‘recalibration’ of marketers’ priorities
By Kristina Monllos • January 30, 2024 • 6 min read •
Ivy Liu
This Advertising and marketing Briefing covers the latest in marketing and marketing for Digiday+ members and is dispensed over electronic mail every Tuesday at 10 a.m. ET. More from the sequence →
In present years, marketers had been hanging extra emphasis on efficiency marketing and marketing, proving efficiencies of ad budgets and retooling inventive to tout tag amid financial uncertainty. More no longer too long previously though, marketers beget shifted point of curiosity support to designate building and in order that they’re having a look for support with things love designate affinity, designate strategy, designate identity and designate refreshes and redesigns as they opinion to take a position extra in designate channels, basically basically based fully on company executives and search consultants, who whine they’ve viewed extra requests for proposals seeking partners for designate building over the old few months and even the supreme year.
That’s no longer to recount that marketers are less drawn to efficiency marketing and marketing — they, obviously, peaceable desire these wins — on the opposite hand it’s extra that they’re drawn to a extra holistic strategy now. The market has shifted. The industrial uncertainty of present years isn’t as hectic for some, which permits these producers to inaugurate the aperture and beget in mind designate wants alongside with efficiency marketing and marketing. On the identical time, the an increasing selection of fragmented digital panorama makes it extra refined for marketers to fetch online now with entirely efficiency tactics, in order that they’re eager on how they’re going to support their producers stand out.
“There would possibly be no doubt a recalibration occurring, in particular in what we’re seeing in North The United States for unique alternate alternatives,” said JJ Schmuckler, global chief enhance officer at VML, who added that in old years there used to be extra of an emphasis on riding efficiency. Whereas he said efficiency marketing and marketing is no longer “negated in any strategy, shape or fabricate” there is an “impetus of consumer asks starting alongside the lines of support us refresh, reinvent, rep original programs.”
Marketers’ asks vary, but total there’s a technique from company execs and search consultants that marketers are seeing the tag of name as a instrument extra so now and having a look to put money into branding to help them in this present day’s market.
“It’s an intangible asset on the steadiness sheet,” Ken Robinson, partner at search consultancy Ark Advisors, said of name efforts, in conjunction with that his company has viewed extra RFPs centered on designate in the supreme 18 months than in the supreme 18 years of his career.
No longer your entire RFPs prioritizing designate — no matter which manner for the marketer in the help of it — are browsing for ad companies to help them, though. Plenty of of the emblem-centered searches Ark Advisors has urge had been seeking designate consultancy partners.
The verbalize of standing out available in the market is seemingly a foremost part in the recalibration that marketers are making now when it involves designate, defined Trevor Guthrie, co-founding father of Extensive Spoon, who additionally notorious that his shop has viewed four RFPs no longer too long previously centered on designate.
For pitch consultancy AAR Companions, when it involves the huge majority of evaluations conducted all the draw through 2023, “all we ever heard used to be now we beget to manufacture designate affinity or designate advocacy or designate love,” notorious Lisa Colantuono, president at AAR Companions. This year, “I imagine it’s gonna be a mixture of name and predict the attach the terminate of the funnel and the bottom of the funnel are gonna give draw in the center,” Colantuono added.
How that shakes out will rely on the marketer. The recognition of the importance of name now is apparent.
“CMOs are realizing the importance of additional long-term taking into consideration and are seeking partners for this,” said Greg Paull, partner at search consultancy R3. “Whereas there used to be a continuous upward push of specialist companies in social, files and e-commerce, discovering a partner who can support delineate the soul of a designate has never been extra major.”
3 Questions with Nate Schlimme, CMO of insist-to-consumer drink designate Moss
What’s the strategy in the help of launching a brand original designate in a crowded DTC market?
We wished to introduce ourselves and learn, at the delivery. The exercise of sea moss as an present put together has been round for an awfully very long time. So as we launched ourselves with a brand original trek on it, we went to those present, tag-aligned communities to in actuality manufacture that viewers at a grassroots level. The first step used to be introducing ourselves and discovering out, after which going out and getting strategies, and listening and attempting out products. From there, it’s who’re the tag-aligned communities that we want to partner with. We wished to manufacture that belief and grow our viewers from grassroots movement to the global stage.
DTCs beget notoriously been reliant on Google and Meta. How are you managing a quickly-to-be cookie-less atmosphere?
From a main marketing and marketing standpoint, these are two platforms that obviously we’re going to rep the most of, but they’re no longer the most helpful strategy that we’re getting the word out. There’s a stable retail strategy. There are platforms love TikTok, there is Pinterest, there’s YouTube. What we’ve been doing this previous summer season and topple is truly talking to other folks and discovering out from them, and being in a situation to chat about the rather a pair of exercise cases of the product and so forth.
Moss’s co-founder is actor, producer and director Michael B. Jordan. How does having a large celeb name support with marketing and marketing efforts?
Mike has been eager with the corporate from day one. He had the opinion that for the corporate. On the terminate of the day, he needs to exercise his platform to expand voices, whether or no longer it be neighborhood groups, creators, craftspeople. He has an fantastic platform, an awfully stable viewers. — Kimeko McCoy
By the numbers
TikTok has been the social media golden diminutive one, giving Meta a urge for its money when it involves the creator financial system and particular person attention. By strategy of ad employ, on the opposite hand, TikTok is raking up factual a little allotment in comparability to its competitor Meta. The brief-fabricate video app would perhaps perhaps perhaps stand to usurp extra by catching the eye of little- and mid-dimension companies — extra than half of of which said they’ve chanced on certain return on funding on TikTok, surpassing Instagram and Fb, basically basically based fully on a knowing from gadget company Capterra. Key findings from the anecdote below:
- 77% of little- and medium-sized alternate (SMBs) on TikTok said sales attributable to the platform beget increased in the previous year, with 23% reporting a prime expand.
- Amongst SMBs that market on TikTok and on the least 1 Meta platform, 96% said they catch the most engagement on TikTok.
- 71% of little companies, in conjunction with retailers and restaurants, will expand their TikTok marketing and marketing employ subsequent year — up from 52% supreme year. Amongst SMBs who’ve executed ROI, they receive it in an moderate of factual five months (up from six months in 2023). — Kimeko McCoy
Quote of the week
“There are a colossal selection of places the attach it’s becoming, in particular on this digital panorama, the attach it will also honest also be very, very, very laborious to really catch any individual to seek. One other strategy of hanging it is, it’s more straightforward to persuade them of something love [direct mail] now than it would had been two years previously or three years previously.”
— Ned Brown, chief inventive officer at Bader Rutter company, on why some producers are reconsidering unsolicited mail as a channel now.
What we’ve coated
- How IAB Tech Lab targets to unruffled considerations round Google’s Privacy Sandbox
- Pitch deck: How Amazon is selling ads on High Video to advertisers
- Is 2024 TikTok’s most hectic year yet?
https://digiday.com/?p=533186
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