New research from Les Binet and Dom Boyd reveals promotions are the largest single component of marketing spend, around twice the size of paid media advertising. Binet and Boyd join WARC's David Tiltman to discuss why 75% of marketers cannot estimate what proportion of their promotions are profitable, and how they can start breaking the promotion dependency spiral.
Guests: Les Binet; Founder, Binet Consulting and Visiting Professor of Marketing and Business Strategy, Ravensbourne University Dom Boyd, Chief Strategy Officer - Global Clients, Kantar David Tiltman, Chief Content Officer, WARC
Chapters: 00:00 — Intro: Why marketers rely on price promotions 02:32 — Why promotions matter now 04:25 — Promotions in the brand playbook 05:43 — The promotion addiction cycle 07:08 — Les Binet: Promotional spending as marketing’s “dark matter” 11:19 — Eight ways promotions can damage brands 16:25 — The consumer-goods marketer research 19:21 — Dom Boyd: The promotional blind spot 23:15 — Marketers’ influence—and the need for evidence 26:21 — Consumer expectations and the discounting cycle 30:48 — Dom Boyd: Principles for promotional detox 33:53 — Les Binet: When promotions can make sense
For 40 years, WARC has been providing the marketing industry with rigorous, unbiased evidence and expert effectiveness guidance. The WARC Podcast publishes a new episode every Tuesday and Thursday.
Podden och tillhörande omslagsbild på den här sidan tillhör
WARC. Innehållet i podden är skapat av WARC och inte av,
eller tillsammans med, Poddtoppen.
