While budgetary firepower still rolls, brands with limited resources and budget, now have a better chance to foment their revolution.
New and more significant marketplaces like Amazon, have widespread availability of micro and signals based targeting. The rise of social media with the shift to an experience-led economy has created enormous opportunities for members of the £500,000 marketing campaign club.
The size of the budget does not determine the success of any campaign. On the contrary, the more ambitious and radical brands are now c subverting the prevailing norms. Technology is enabling businesses to marshal scarce resources, maximizing return on every dollar spent.
Whatever the budget or resources are, actionable and concise steps are needed to create differentiation and out-think competition.
The rapidly changing business dynamics of markets today provides infinite opportunities and challenges. Marketers and advertisers need to zero in on one key focus for the campaign that they seek to achieve. An in-depth analysis is required to determine the cultural cycle or the category. It is essential to simplify strategies to one key metric, to frame the outcome in a way that crystallizes the desired change.
Marketers should still a concise point-of-view for drafting a great brief, ensuring a campaign’s success. It is essential to boil things down to three primary components – defining what needs to change, the preparedness to change, and the most likely trigger for change. Every market is dominated by a complex mix of behaviors and attitudes. This makes it critical for marketers to be aware of the factors that stand between the marketing plan and success. Finally, this knowledge could be what could empower marketers to achieve their marketing targets.
Big-budget players rely on reinforcing ideas that create bold creative, to achieve marketing goals. However, for smaller brands who cannot afford that, the only option is to strive for the truly unique and original content and ideas. The creative ideas need to be rooted in brand equities that one wants to reinforce. Creatives should bring something new to the table that triggers brand recall and action. As markets and consumers evolve, the brand must too. The boldest and most innovative ideas aid companies to re-organize and re-focus. Creatives encourage the brands to think and act differently in a way that better aligns with the audience’s emerging needs and wants.
The purpose of marketing content must be clear and precise, clarifying the brand’s role in society and culture, with a compelling way of asserting it. Businesses should also smartly choose the platform with concentrated firepower to advertise. It’s safer and smarter to invest where the audience is most actively engaged and most receptive. Marketers need to think laterally, balancing the ‘art’ of creativity with the ‘science’ of media. It’s always recommended to focus on a limited number of channels as over-fragmentation can disappear into penny pockets of invisibility.
Marketing experts across industries advocate that there’s strong wisdom in appointing a single agency to extract the most out of smaller budgets. Today, there are plenty of opportunities on multiple platforms for firms to lead successful mass campaigns, even with limited budgets. Employing smart and innovative marketing strategies is the only way to out-think the opposition and win the race.