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Misty Locke

Global Chief Marketing Officer

About this Author

Misty Locke is the Global CMO for iProspect.

SOCIETAL RESPONSIBILITY IS THE BRAND KINGMAKER IN 2021

Climate crisis, social justice, privacy rights… as people’s expectations change and consumer scrutiny increases, companies must adapt to societal evolutions if they are to remain relevant and grow. Being the closest ones to consumers and the ones responsible for driving brand response, marketers have a critical role in promoting a societal agenda within the organisation – uncovering new growth opportunities at the intersection of marketing and society. The new reality for brands People are increasingly questioning their own consumption decisions, not only asking themselves, “What is best for my wallet?” but also, “What is fair for all parties involved?” There is an increasing public consciousness about the power people can have on brands, and about the ability of brands to effect positive change through their marketing dollars. In light of these societal changes, some brands have doubled down towards social consciousness, some have ‘dipped their toes’ in using their media budgets as ways of influence, and others have so far kept a distance to avoid becoming embroiled in an increasingly polarized conversation. But this later stance is quickly becoming untenable, as scrutiny increases from consumers and employees who do not hesitate to publicly call out internal communications that contradict their own beliefs. The practical guide to societal responsibility There is no secret recipe for brands to become socially irreproachable overnight. However, there are some key considerations to drastically improve their societal impact. Bring it to the top of your agenda. Too often, we see societal priorities wrongfully depicted as a thorn in the side of business conduct, whereas they are generators of economic value. Drive change from the inside out. Consumers and employees are two sides of the same coin. If you want to be relevant to diverse audiences, you need to see this diversity in your organisation, and empower these multiple voices. Use empathy as your guiding principle. Real change requires true self-awareness and empathy. It’s okay to not get everything right if you are genuine in your intent. It is a beneficial journey that brands need to take as they become more responsible. Be both ambitious and meticulous. The path to responsibility requires an ambitious strategy, yet one broken down into concrete steps that enable incremental changes all along the journey. A clear framework to measure progress is critical. Communicate with openness and authenticity. Document your journey and how you measure your efforts in a very genuine and transparent fashion – including the shortcomings you face. It is an excellent way to build consumer trust. The critical role of media There is clear added value in using simple and accessible communications to help overwhelmed consumers sort through the apparent complexity of societal topics. For instance, combining convenience and transparency is a great way to empower people to shop sustainably, as illustrated by the Farmer Connect app that helps consumers easily trace the origin of their coffee.[i] From a content perspective, brands can provide an open platform to connect with users and influencers on topics such as inclusivity by sharing stories, inspiration and experiences. It’s not only about showing what the brand does well, but about recognising that good ideas can come from anywhere by giving them a voice. The good news for brands is that they are not alone on this path toward becoming more responsible selves. For instance, dentsu, iProspect’s parent company, pilots DIMPACT, a pioneering tool to manage the media industry’s digital carbon footprint. The DIMPACT web-based tool, created in collaboration with the University of Bristol, calculates the greenhouse gas emissions associated with serving media content, and can therefore be used to help advertisers select lower carbon alternatives as part of their digital media strategy. - Marketing has always been about understanding people to deliver the most valuable product and service to them. In an age where people’s rising expectations around inclusivity, privacy, sustainability and transparency intersect with their consumption choices, embedding societal considerations in the company’s strategy is not a distraction to business conduct. It is the essence of marketing – the most powerful growth vector for organisations, today and tomorrow. [i] Farmer Connect website, as accessed on Feb 26, 2020 - link 0 4 min read

Future Focus 2019: Searching for Trust

In Future Focus 2019, we examine how brands that are built on credibility, relevance, and reliability will see trust as the very foundation for their success in the digital economy. The digital economy has brought new opportunity for development and innovation in every business sector. While the majority is “good innovation”, we continue to see a significant gap at a societal level, driven by a continued disparity in access to technology based on socio-economic factors. In today’s hyper-sensitive media landscape, how should brands and publishers navigate the notion of truth and authenticity? We interviewed more than 300 global marketers and leaders across a broad spectrum of brands, including FTSE 100 and Fortune 500 companies, and used the real-time responses to outline key insights and priorities necessary for businesses to thrive in our fast moving, high expectation digital economy. Feedback shows that trust is at the forefront globally with 88% of marketers making trust in their brand a priority in 2019. Marketers see gaining consumer trust as vital to business growth with 76% stating that trust is important to keep consumers buying their brand. Digital will play a clear role in this with 60% believing that the rise of AI will increase consumer trust as it allows for more relevant and personal experiences. 83% don’t believe brands will dominate over convenient experiences in the future 62% don’t have a proactive role in approaching online reviews, although they think reviews represent the greatest risk to consumer trust 62% say the quality of their purchase experience and after-sales service will be a priority for 2019 69% think the rise of digital assistants represents an opportunity to become closer and develop stronger relationships with consumers The report also includes exclusive interviews with global leaders from businesses, such as The New York Times Company, IBM, Microsoft, Hilton, The Economist, Rachel Zoe, Inc., IKEA, and AccorHotels. Chapter One: Credibility in the Age of Doubt Outlines the role of purpose in the digital economy and how immediate benefits for brands will be bestowed to those who can use digital to build and reinforce their credibility in the eyes of consumers. By protecting the integrity of their brand online, communicating their values, and leveraging the power of technology, brands will see a steady increase in trust of their brand. Includes exclusive interviews with: Mark Thompson, CEO and President, The New York Times Company, on leading the battle against misinformation and fake news. Armin Molavi, Interim VP Media, Hilton, on trust in the travel industry, social responsibility and the new place for data. Mark Cripps, Chief Marketing Officer, The Economist, outlines opportunities in the new value exchange and the notion of being data-responsible. Chapter Two: Relevance in the Age of Noise Explores the rise of shrinking consumer attention and an increasingly fragmented consumer landscape. Successful brands will be those who focus on relevant experiences, outplay the influx on digital content, and make the most of the Assistance revolution. Includes exclusive interviews with: Vanja Mlaco, Digital Growth Strategist, Transavia, on the importance of putting the consumer ahead of conversion, and using technology as a goal, not a means to an end. Carrie Seifer, Vice President and Chief Revenue Office, IBM Watson and Weather, on the unstoppable rise of AI and how trust and transparency must underpin all action. Laurent Tiersen, Country Marketing Manager, IKEA UK & Ireland, on the constant focus on staying relevant to their customers. Jonathan Foster, Principal Experiences Manager, Microsoft, on how he builds Cortana, using personality goes a long way to building trust, and using art to show humanity to humans. Chapter Three: Reliability in the Age of Convenience Focuses on the rise of convenience as it intersects with the more traditional power of brand, and highlights the subtle balance between building brands and designing highly convenient solutions. Successful companies will dominate by focusing on the convenience of their digital properties, media assets, and presence on third-party reseller platforms. Includes exclusive interviews with: Antoine Dubois, SVP Marketing Global Strategy, AccorHotels, on the convenience, artificial intelligence and the war for talent. Rachel Zoe, CEO, Rachel Zoe Inc., on navigating the rise and influence of digital in the fashion and luxury landscape, and why adaptability is key. DOWNLOAD THE FULL REPORT 0 4 min read

5 Considerations for Marketers in 2019

Every year, we survey our clients to understand their views, priorities and concerns for the coming year. In 2018, we interviewed more than 300 global marketers and leaders across a broad spectrum of brands, including FTSE 100 and Fortune 500 companies, and a large geographical footprint. From the results, we isolated 5 key considerations for marketers in 2019. 1. Creating personalised experiences is the #1 priority for marketers for 2019 According to our survey, 83% of marketers don’t believe brands will dominate over convenient experiences in the future. Consequently, it is no surprise that using data to create personalised consumer experiences is at the top of their 2019 marketing strategy. Interestingly, ‘maximising visibility and sales within online marketplaces’ and ‘developing a strategy for voice search and digital assistants’ see the strongest progression since last year. 2.Internal structure and managing high volumes of data are the most difficult challenges for 2019 According to our survey, 45% of marketers declare the lack of agility to quickly evolve their proposition based on consumer response is the biggest challenge for increasing trust. This lack of agility can be explained by the difficulties reported by marketers to collaborate efficiently inside their organisations and to properly manage high volumes of data. 3. Search, Social, Mobile and Content Marketing are key priority channels for 2019 Like last year, Search, Social, Mobile and Content Marketing top the rankings as the key priority channels for our respondents. 4. Google, Facebook and Amazon are the three critical partners for 2019 Google, Facebook and Amazon continue to make the top 3 as the companies impacting the most brands’ target audiences. Amazon is the platform with the greatest increase compared to last year, which shows that marketers are recognizing the increasing influence of “the everything store” in consumers’ lives: today, 41% of Amazon shoppers check prices on the platform, 27% shop less at retail stores and only 20% declare their shopping behaviour is not influenced at all by shopping on Amazon. 5. Voice search and bots are the two priority emerging channels for 2019 In our survey, 69% of marketers consider the rise of digital assistants as an opportunity for their brand to develop an even closer relationship with their consumers. It is thus logical that voice search and bots, two essential enablers of digital assistants, top marketers’ emerging channels ranking, way ahead of visual search, AR and VR. In the iProspect 2018 Global Client Survey, we particularly focused on the contribution of trust to business growth. To access more stats, key insights and success stories on navigating truth and authenticity this year, download Future Focus 2019: Searching for Trust. The report includes exclusive interviews with global business and thought leaders including Mark Thompson (CEO and President, The New York Times Company), Armin Molavi (Interim VP Media, Hilton), Mark Cripps (Chief Marketing Officer, The Economist), Vanja Mlaco (Digital Growth Strategist, Transavia), Carrie Seifer (Vice President and Chief Revenue Officer, IBM Watson and Weather), Laurent Tiersen (Country Marketing Manager, IKEA UK & Ireland), Jonathan Foster (Principal Experiences Manager, Microsoft), Antoine Dubois (SVP Marketing Global Strategy, AccorHotels), Rachel Zoe (CEO, Rachel Zoe Inc.). SOURCES: [1]PWC, ‘Global Consumer Insights Survey 2018: New business models in the ecommerce era’, Sep 2017 0 3 min read

Misty Locke

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