For marketers, seeking the holy grail of effectiveness will often keep them, their leaders and company boards up at night. While data is undoubtedly a shiny new and powerful weapon to help achieve this goal, it’s also clear it’s not the only answer and we have a long way to go.
At the inaugural IPA Effectiveness Week Conference in the UK recently, key themes included trust, short termism, culture and the role of data in generating effectiveness for marketers.
Experts from around the world debated the hows and whys of what effectiveness is and how to achieve it. But the consensus is, there is no consensus and we have much still to do.
A lot was made around a trend in short-term measurement, or short termism, as led by the inveterate Peter Field and Les Binet. They presented an introduction to their forthcoming report, Media in the Digital Age. Post the GFC, there’s arguably been a much higher focus on marketing accountability, enabled by increasing access to data and metrics. They argued that this focus is ironically leading to a decrease in overall effectiveness. The panacea according to Field and Binet is to increase our investment in mass media and brand work.