I’ve published quotes to the W5 Blog before, but we’re going to try to institute a new series pulling relevant or thought-provoking statements and linking you through to the sources. We may not add commentary for these quotes, but each will have some connection to what we do and the other topics we post about on the blog. Like our “Infographic of the Week” posts, we’ll publish these as they come up, rather than on a set schedule. To kick things off, here’s a swipe with two good quotes on the need to combine hard science and marketing, especially in this economic climate:
Do you think the push toward testing and metrics in advertising will get stronger?
Steve Cuno, author of Prove It Before You Promote It: How to Take the Guesswork Out of Marketing: Ads have to earn their keep. I can’t peer into the future, but I can tell you one thing. When a company is fat and has money to burn and just loves an ad campaign, sometimes they’ll keep it as an expression of the ego and as a personal indulgence. If you’re not fat and don’t have money to burn, the fact that you love the campaign is irrelevant. You simply want to know if it is producing.
Some CEOs are saying their companies cannot afford to market as they have in the past because of the recession. Should companies cut their marketing budget during tight economic times?
Cuno: It’s very telling when companies cut marketing budgets. The idea of marketing is to sell stuff and raise profits. If you cut your budget because things are tight, it’s an admission that deep down inside you suspect your marketing isn’t selling. Why else would you cut marketing? When things are tight and you know your marketing is working, you will increase it. Cutting effective marketing when sales are down is like cutting insulin because someone’s diabetes got worse.