Wednesday September 19, 2012
Brands need to have a purpose
SINGAPORE: A fifth P purpose should be added to the traditional 4Ps of marketing, said McCann Worldgroup chief executive officer Nick Brien.
“If brands don't think about how to work with a (social) purpose in the world, they will get beaten and overtaken because there are many new brands, many new manufacturers and many new products that have a far greater sensibility to making the world a better place,” he said during a seminar at the Spikes Asia Festival of Creativity on Monday.
Speaking at a session titled “The Truth About Marketing 3.0” on the second day of the three-day creative advertising and communications festival, Brien said there was power in having a purpose, citing some survey findings.
Among others, Brien said, 90% of Generation Y would make a point reporting unjust behaviours from a brand, and 74% of global consumers would choose a brand when they believed what it stood for.
“The sensibility towards sustainability, shared values and fairness in the world is on the rise,” he said, adding that businesses could not afford to ignore this.
Brien cited having a purpose was one of the five “truths” that brands and businesses needed to succeed in the current “era of participation,” which, according to him, started in 2007 when Facebook started to become mainstream.
The other “truths” that he listed were:
● Brands should create value;
● Brands should create magnetic content;
● Brands should leverage data; and
● Brands should be opportunistic.
On creating magnetic content, Brien said: “If content is king, listening (to consumers) is also king.”
He said 2.6 billion people used Internet daily and they were also creating content, so marketers ultimately had the opportunity to work their brands into that context.
Brien said the customers also knew the marketers had their personal data, “so it makes no sense if we're not using this data to do what a promise of marketing should always be about, which is to create more engagement and ultimately effective marketing communications of the brands.”
● The Star is the official and exclusive Spikes Asia representative for Malaysia.