Noah Brier The Cost of Creativity: How (and Why) Marketers are Spending in 2017
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Noah Brier
The Cost of Creativity: How (and Why) Marketers are Spending in 2017
Who are we?A single platform for managing your social and content marketing.
It’s a good time to do what we do
Channels Markets People
Brands have more channels, markets, and people available
20001980 199019701960 2010—
?
Channels Markets People Content
They’re creating more content than ever to reach them
20001980 199019701960 2010—
?
Channels Markets People Content
Resources aren’t growing at nearly the same rate
20001980 199019701960 2010—
?
Resources
Where are those limited resources going?
Great content takes investment and brands are doing it
Marketing content creation costs as a % of entire marketing budget
2016
2017
Marketing content creation costs as % of marketing budget 0 4 8 12 16 20 24 28 32 36 40
Source: Percolate
69% of brands expect need to invest more in social contentWhat do you expect the trend in social content costs will be?
27%
4%
22%
47%
Will increaseWill increase significantly Will decrease significantlyWill stay the same
10%of the average
marketing budget is invested in creating
social content
Source: Percolate
#1In fact, marketing leaders cite “content and creative workflows” as their #1 investment priority this year
#1 Content and creative workflows
Source: Percolate
3% How much more high performing brands spend on content relative to their peers, as a % of total marketing budget
On average, high-performing brands invest even more in content and great creative than peers
Source: Percolate
No channel lives in isolation: Brands are investing across both social and non-socialPercent of marketing budget spent by channel
Source: Percolate
10%
10%
9%
13%
10% 9%
11%
29% Traditional media advertising (TV, print, OOH) Search advertising Programmatic Social Website and e-commerce Brand publishing and other content marketingDigital video Influencer marketing and sponsorship costs
To be successful, you must be truly multi-channel
Percent of marketing budget spent by channel
Source: Percolate
10%
10%
9%
13%
10% 9%
11%
29% Traditional media advertising (TV, print, OOH) Search advertising Programmatic Social Website and e-commerce Brand publishing and other content marketingDigital video Influencer marketing and sponsorship costs
And global
Content localizationIs a Top #5 operating cost contributor and priority for
marketing leaders
This is also reshaping the brand-agency dynamic
Internal Brand Hub
Agency
Agency
Agency
Agency
28%
29%
43%AdvertisingOther MarketingTechnology
Source: Percolate
Marketers are responding with more techHigh Performers’ budget breakdown (excluding headcount)
But is it the right tech?
Distribute
Listening
Advertising
Social CRM
Analytics
ApprovePlan CreateCollaborate
90% of Marketer Investment
Tech investment is focused on the end of the process
Distribute
Listening
Advertising
Social CRM
Analytics
ApprovePlan CreateCollaborate
90% of Marketer Investment
But is that solving the right problem?
90% of Marketer Impact
No amount of tech, targeting or optimization can change the laws of marketing.
— Mark Pritchard, CMO of P&G
“We targeted too much, and we went too narrow.”
No amount of tech, targeting or optimization can change the laws of marketing. So what are those laws?
#1 - Brands need to reach many people
#1 - Brands need to reach many people
15% Credit Card Transactions
85% Cash Transactions
Choosing the right audience > Targeting
Treat targeting as a strategy challenge, not a tech challengeJust because you can target narrow, doesn’t mean you should
#2 - Creative must capture consumer attention
“Creatively awarded campaigns are 11 times more effective at generating long-term sales and business growth”
Creativity = Novelty + Constraints
Ensure constraints cut both waysCreativity can only flourish if both sides agree on the rules beforehand
#3 - Marketing must reinforce the brand
Don’t make marketing for your competitor
Invest in brand governance and content quality controls
AaTargets Prospects Customers Advocates
Awareness
Consideration
Purchase
At the scale of social there’s no other way to ensure all content connects back to the brand
Let’s recap
Laws Implications
Brands need to reach many people
Treat targeting as a strategy challenge, not a tech challenge
Ensure constraints cut both ways
Creative must capture consumer attention
Marketing must reinforce the brand
Invest in brand governance and content quality controls
Thank you
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