A recent Forrester report suggested that Chief marketing officers (CMOs) are in a creative rut that is hurting the value of their brands as they offer digital customer experiences that all look and feel the same.
The firm recommended that brands shift USD$19 billion earmarked for some technologies — such as mobile, social media and ad tech — to more creative efforts in order to see $10 billion more in ROI over the next six years.
Marketing Magazine recently sat down with Nicky Lim, Group CEO of Dentsu Aegis Network Malaysia, for his thoughts on the topic.
He believes that while technology is part of the process, ideation is still the core, ideas are still king, and in his opinion, its all about ideas at the end of the day.
“You need to take it to across multiple touchpoints, in the digital world, its all about creating a customized experience for customers in this day and age,” he said.
Lim feels that the big idea is very important, and the idea survives to the very end of the branding odyssey and its all about the agency and client working together to make sure this happens on a grand scale.
“For me, the long term branding is very important to build up brand equity…brand building frequency is key, longevity is very important , but also in the 12 to 18 months of a brand journey, tactical campaigns are also needed,” he explained.
These days, Lim says the the funnel approach makes sure the ideation is carried right to the end of the conversion process and that requires agencies to step up to the mark.
“Clients and agencies need to understand its two way street…in Malaysia, a lot of clients need to understand that digital transformation needs to come from the top,” he added.
Lim is aware that every digital transformation is different, and its not just about marketing, it’s about the overall culture in these companies and how that impacts everything they do.
He feels that clients and marketers need to understand that collecting data and using it seamlessly is also very important.
“Companies need a data culture, and while data scientists can play a role in this regard, brands also need to understand that data can be a real source of change,” he said.
Ultimately, clients, marketers and agencies have a major role to play in this regard to be part of the branding journey.
“At Dentsu, we have always believed in providing business solutions that are augmented to our advertising campaigns for maximum effectiveness,” Lim concluded.