One of the most famous (or, perhaps, notorious) quotes in the history of marketing is the assertion by Lord Leverhulme (founder of Unilever) that he knew that half of the money he spent on advertising was wasted – but that he didn’t know which half.
Perhaps, if Lord Leverhulme had had access to the most recent understanding of how our brains work, he might have been a little less puzzled.
Daniel Kahneman’s 2002 Nobel Prize-winning research showed that most decisions – including nearly all brand choice decisions – are made by our subconscious brains (he called this the brain’s ‘System 1’). Kahneman also showed how decisions are driven predominantly by emotional factors – not the rational, evaluatory processes that the business world often assumes its customers use.
“We can’t win the Le Mans 24-hour race because we don’t have the fastest car on the track.”
“We can’t recruit any more firefighters because we don’t have enough budget available.”
“We can’t sell our brand to younger consumers because it is perceived as old-fashioned.”
‘Can’t because’ is the death knell of creative thinking. It sucks all the oxygen out of the room. It saps energy and replaces optimism and hope with pessimism and light despair. This atmosphere of doom and gloom is only worsened when this negative turn of phrase is accompanied by equally negative body language.
In 1953, an unknown writer called William Golding wrote a novel.
He sent it to around twenty publishers, one after the other
And, one after the other it came back.
The rejection letters used phrases like “absurd, uninteresting” and “rubbish and dull”.
Eventually, a young editor at Faber & Faber read it.
Charles Monteith liked the book, he agreed to pay £60 for it, but it needed changes.
Golding agreed the suggestions improved the book.
But Monteith’s big problem was with the title.
The book was called: ‘Strangers from Within”.
Monteith thought this was dull, he asked Golding to think of a new title.
The story was about children on an island, so Golding wrote a list of possibilities:
In a crowded marketplace, which shows no sign of abating this year, people often ask me and the team what makes the Festival of Media different from all of the other events in the sector. It’s a fairly easy answer as we ensure brands and inclusion at our heart, but it’s one that requires some key storytelling and context.
So here goes…
Four years ago I embarked on a journey at Festival of Media and M&M Global with one mission – to reinvigorate its content offering. A quick look at the previous agendas and it was clear to see we had reached a plateau of middle-aged English speaking white men dominating the stages with content, which was either stuck in the past, or too far in the future to be relevant.
Provocative and insightful; David Wheldon, CMO Royal Bank of Scotland, shared his rich perspective on a broad range of subjects, powered by bolder marketing leadership as he was put Under The Spotlight - equally, everyone else in the room was encouraged to share their views.
Here are the highlights captured which stood out for me, at the end of almost two hours of spirited engagement (both on the couch and off it):
One of the earliest comments that had me hooked was a rather simple one - every business that ever started, across any category, was started around a brand idea.
While sometimes this idea may not have been overtly expressed, it is this idea that differentiates one brand from the other.
Of course, the brand that has a more powerful and compelling one, which wins amongst the sea of options.
A simple comment but one that I thought was immensely powerful.
Pride month is around the corner, a time for queer celebration, parades, solidarity, vigils and tributes to those who have been lost due to hate and intolerance. It’s exciting, often playful, sometimes sad, and incredibly important to the queer community., says Becks Collins.
In part one, we learned that communication that evokes an emotional response can help both its ease of processing and its memorability. However, this leaves a quandary that some emotional ads sell, whilst others do not, says Phil Barden.