In the context of the current economic climate, in South Africa and the rest of the world, brands and marketers are feeling the squeeze and are stretched to deliver a marked return on their marketing investment.
In turn, their advertising agencies have to deliver the results, measurable results, that demonstrate a return for every rand spent.
The marketing impact has to move beyond brand recognition and into volume, after all, that’s the bottom line - sell more stuff. But, there’s a twist to this, short-term sales at the expense of long-term brand recognition, is where the challenge lies.
This is what separates good agencies from great agencies. Where a strategic intent drives the creative application and there is an understanding of delivering measurable results that not only answer to sales, but also delivers on brand building. Will agencies stand by an obligation to deliver? Are they brave enough to back their solutions based on their strategy and creative? At the end of the day, brands are spending a lot of money with agencies to get the job done.
Imagine a risk model where agencies commit to cutting their fees if they don't hit a critical brand objective. Now that would separate the boys from the men. And marketers will trust that agencies have their best intentions in mind because there is too much risk not to, and agencies wont be able to hide behind the shelves of awards.
It is refreshing to note that awards that celebrate measurable returns have seen a resurgence in recent years, with The Loeries even adding measurability to its stable of categories.
For an agency, and more importantly, for brands, that is award-winning work. It celebrates great creative solutions that deliver, not to an agency's ego, but to clients’ bottom line.
