London, 1st of March 2018
To launch Freedman International’s latest report on global marketing, we brought together an elite group of senior marketers for breakfast in central London. The objective was to facilitate the sharing of best practice in global marketing and to validate some of the challenges and opportunities that we had identified in the report.
Despite the snow, we were joined by senior marketers from brands such as Nissan, The BBC, Ralph Lauren, Trustpilot, Deutsche Bank, Eversheds, Blackline and Pluralsight.
The Global Marketing 2018 report identified 7 key trends that are both challenges and opportunities for marketers. Our marketers said their priorities were ‘Truth and Transparency’ and ‘Compact Creativity’, how brands can meet consumer’s expectations of ethical behaviour and decreasing attention spans, respectively.
We had a really good mix of brands in the room, from smaller tech businesses to global giants, from smaller industry sectors such as professional education, to global fashion and automotive. All brands agreed that customers now value trust more than ever before. Our marketers shared examples of when that trust has been eroded, and how they have been able to rebuild and regain trust. It was particularly interesting to hear from the highly regulated financial institutions, or professional service companies who live or die by their reputation. With Trustpilot in the room, we also heard first hand about how consumers are increasingly empowered by technology to review and hold brands to account.
We discussed the impact of shortened attention spans on the effectiveness of marketing. Whilst it varies from industry to industry, all agreed that top of the funnel messages need to be shorter, providing hooks to entice the potential customer further down the funnel. Longer content, particularly video, has an important role to play in the middle of the funnel to explain and educate potential customers about the products or services we offer. Of course once customers are engaged (at the bottom of the funnel), then they are willing to give much more of their time and attention to truly understanding the product and validating their decision to buy.
One further trend that emerged was that of ‘Working Together’, particularly the dynamic between the central HQ and the regional and local teams. A number of businesses described the tension between the need for central control and consistency, and the importance of local understanding, insight and effectiveness, together with local targets and needs. Definitely a theme we’ve touched upon before in this blog.
We’ll be holding more events for senior marketers to share insight, swap best practice and hear case studies over the next few months. Please do drop us a line if you’d like to find out more.