Effectiveness in marketing is simply the ability to prove that marketing has delivered on its stated objectives. Different brands respond differently to the same strategy or tactic, but there are some golden rules-of-thumb in marketing that are almost universal.
One: According to a study by Les Binet and Peter Field, for the IPA Effectiveness Awards, “Brand share of voice must exceed its share of the market if it is to grow.” Brands that invest in excess share of voice (ESOV), defined as SOV above the business’s market share, are likely to see long-term base sales growth. Therefore, invest sufficiently relative to your market share to see long-term sales growth and improved marketing effectiveness. [I] (more…)