To stay in the loop with the latest features, news and interviews from the creative community around licensing, sign up to our weekly newsletter here
Jack Day, Commercial Director at KidsKnowBest, looks at how can the owners of childrens’ brands can better measure the effectiveness of their marketing spend.
“Will my net sales exceed my annual marketing spend?”. This is the age-old question and one that I’m asked on a daily basis in my role at creative agency KidsKnowBest.
Marketing has long been debated as either an investment, or cost to almost all businesses, agnostic of industry. However, we’re increasingly seeing proof it’s the former.
From a company bio, product design, or partnership with an influencer, everything that communicates with your consumer is a marketing decision that impacts a brand’s future. Growth can be seen as stagnant if businesses are not laser-focused on long-term consumer acquisition in order to drive sales. That can be through memorable delivery, outstanding creative or customer insights, which is what we do at KidsKnowBest to ensure we put kids’ voices and opinions at the centre of all the work. Doing this ensures that the marketing activity we do for our clients align with their aims and objectives.
So, how can organisations better measure the effectiveness of their marketing spend? We like to let the data do the talking. Our most successful projects are ones where we’re able to apply a subtle blend of both instinct and data that informs our intuition, whilst validating our assumptions. It’s more about fostering a culture that inspires less of the ‘we think’ and more of ‘the data tells us’.
We’re in a world of constant innovation and exploration and by not sticking to our ethos of giving kids a voice, brands run the risk of falling out of favour – or worse yet, not reaching their consumers at all. Listening is not only critical to learning, but the thoughts and opinions of kids – and equally their parents – enables us to responsibly navigate our partners through an ever-changing and fragmented digital landscape, in both an entertaining and educational capacity.
I believe the truest measure of effective marketing is when the conversations and impact made is felt outside of the marketing sphere. The ‘marketing mix’ is not defined, nor should it be, and we take pride in no project we undertake ‘repeating the wheel’.
Keeping constant tabs on how kids view the world around us, in an ever-changing and challenging environment is imperative. The recent uncontrolled growth of digital engagement proves both a prosperous, yet apprehensive challenge for brands operating in the kid’s media industry. However, one thing is certain – businesses should never lose sight of the importance of listening to their core audience. The kids.
Enter your details to receive Brands Untapped updates & news.