What is shaping your agenda?

The marketer's agenda

4 themes will influence future growth and should be on the agenda of commercial leaders

What is shaping your agenda? This article presents key questions to ask yourself when planning marketing activities. In addition, specific action steps are introduced, enabling marketers to achieve future growth.

The marketer's agenda 2014

Retail

1. Understanding growth drivers

How are consumers making decisions about which brand to buy in your category? How are you positioned to influence their decision-making?

Why is it on the agenda?

  • Science has revolutionised every discipline it has touched. Now it is marketing’s turn
  • New science and empirical evidence of how brands grow are pointing marketing in a new direction
  • During the last few years, leading global marketing organisations have started to change their approach to marketing and brand management to improve the effectiveness of their marketing strategies

New perspectives

  • Behavioural science indicates that people to a large extent make unthinking, automated decisions based on habit. Hence, being salient and part of repertoire is key to brand growth
  • Neuroscience indicates that without emotion, we would not feel compelled to do anything. Hence, brands need to connect with consumers’ needs and engage emotionally with them in order to influence brand attitude and buying behaviour

Action steps

  1. Truly understand consumer decision-making within your category, with particular focus on level of involvement
  2. Strengthen your marketing approach by focusing on making your brand salient and becoming part of the repertoire of your target audience
  3. Explore your consumers’ need drivers, and identify a value proposition that has the potential of engaging the target audience emotionally and changing their brand attitude and buying behaviour

2. Reach out for growth

How can you improve the mental and physical availability of your brand? Are you realising the growth potential of your brand by reaching broad enough?

Why is it on the agenda?

  • Growth is an imperative for any business as shareholders want to get a return on the value of their investment
  • However, very few brands are able to deliver consistent growth for more than 3-year periods
  • An underlying driver is the lack of understanding of how growth actually occurs

New perspectives

  • Empirical evidence suggests that large brands have more buyers, who are slightly more loyal than smaller brands
  • Most shoppers buy their brands infrequently, and the biggest sales volume come from low-frequent buyers
  • Brands need to reach broad for growth and establish strong mental and physical availability

Action steps

  1. Assess buying behaviour within your category to identify key drivers of volume and value growth, frequency group distribution and the degree of behavioural loyalty
  2. Strengthen your marketing activities by broadening the reach
  3. Make sure that your marketing activities build mental availability: Brand recall is correlated with market share
  4. Make sure that both marketing and sales plans focus on building physical availability: Most consumers will not go the extra mile to get your brand
Charlotte Wandorf
Charlotte Wandorf
+45 4074 5727
Harald Ihlen Møyner
Harald Ihlen Møyner
+47 409 00 829
Joachim Lupnaav Johnsen
Joachim Lupnaav Johnsen
+47 926 48 336

3. Value creation and brand asset management

Are you set to shape the future of your category and your brand? Will your current plans be able to change consumer behaviour and attitude– or are you in effect planning for status quo?

Why is it on the agenda?

  • CMOs find themselves challenged on the return on capital employed, as CEOs increasingly find their marketers too disconnected from the financial realities of the company
  • Marketers are at the heart of the company’s value creation – impacting brand, product and innovation strategies and tactics – and need to act the part

New perspectives

  • Outgrowing competition by actively shaping the future of the category and your brand, i.e. take a consumer value and category growth approach to marketing plans – and make sure that activities change consumer behaviour and/or attitude
  • In order to influence low-frequency buyers and automated decision-making, marketers should focus on building distinctive brand assets and exploring positively perceived peripheral cues

Action steps

  1. Identify key growth levers within the category and explore how to create added value to consumers throughout the extended shopper journey
  2. Identify current behaviour, attitude and brand experience of your consumers. Define desired changes and identify the most effective activities to achieve changes in attitude and behaviour
  3. Develop distinctive brand assets that will improve speed of recognition and recall of your brand
  4. Explore peripheral cues to convey brand message

4. Consumer experience orchestration

How does current brand experience influence future buying behavior? How could you optimise consumer experience across touch points before, during and after sales?

Why is it on the agenda?

  • Research shows that 70% of consumers would be willing to increase spending by 10% or more given an improved purchase experience
  • Dissatisfied consumers are six times more likely to churn in the next twelve months than satisfied ones
  • Internet and emerging technologies are changing everything – as experiences are shared globally

New perspectives

  • There is a need for a systematic approach for delivering a holistic consumer experience in all critical touchpoints before, during and after sales
  • The consumer experience must be anchored in the overall business strategy and goals – and cascaded to all levels of the organisation

Example of consumer value chain

Consumer value chain

Action steps

  1. Truly understand your consumers’ journey before, during and after sales, including how they rate your brand versus competing brands
  2. Strengthen your consumer experience approach by focusing on critical touchpoints and designing the ideal consumer experience – and how to handle deviations from ideal state
  3. Explore ways to utilise new technology and big data to deliver individually tailored experience and help amplify positive experiences