As of the twentieth century, marketing has come into its own as a science.
We now know that the most profitable marketing campaigns achieve two goals: increase sales volumes and increase pricing power.
We know that emotional campaigns outperform rational campaigns in driving long-term profit.
We know that consumer promotions (freebies) are better at reducing price sensitivity than discounts.
And thanks to the stellar work of Les Binet and Peter Field, we now know that Fame campaigns achieve 11 times more market share growth compared to the average marketing campaign.
We know this from their landmark study titled Marketing in the Era of Accountability, a thorough analysis of 996 advertising case studies involving 700 brands across 83 categories, spanning over 30 years of IPA Effectiveness data.
Compared to average campaigns, Fame campaigns achieve share of voice more efficiently, and decrease price sensitivity.
According to the study, campaigns that were awarded for effectiveness in creativity outperformed non-awarded campaigns.
So what is a Fame campaign?
A campaign whose effects reach far beyond the confines of a media plan. A campaign that makes its way into pop culture. A campaign that moves not just products, but people.
It’s a familiar lineup: Avis, Amul, Dove, DeBeers, Mustang, Maggi, Volkswagen, Volvo. Legends, every one of them.
And while every brand has its own story, there’s one thing that makes them all common. Each one identified its truth, and stuck with it.
What’s your truth? What’s your identity? What’s the one thing your brand stands for, that will it withstand the test of time?
– Dominic Braganza