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Les Binet
United Kingdom
Приєднався 30 лип 2020
This channel is about marketing and advertising - how they work, how to know whether they're working properly, and how to make them work better. If you're interested in the theory and practice of marketing effectiveness and evaluation, then you may find some useful stuff here. If you're looking for cat videos, try elsewhere.
Maximising advertising effectiveness
A short video on how to make your advertising budgets work harder when times are tough.
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Відео
Marketing in tough times: how to reduce risk
Переглядів 1,8 тис.2 місяці тому
Good research makes marketing a much safer investment. Here's how.
Why advertising ROI goes up during recession
Переглядів 5562 місяці тому
Recessions are often a good time to advertise. This short video explains why.
Pricing, promotions and profits - marketing in inflationary times
Переглядів 1,5 тис.2 місяці тому
Inflation is still stubbornly high. How should marketers respond?
Marketing in a recession: how will your sector be affected?
Переглядів 1 тис.2 місяці тому
When the economy takes a downturn, some sectors do better than others. Watch this short video and find out whether you will be one of the winners.
What makes a great beer ad?
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In this short video, advertising expert Les Binet identifies the 4 key ingredients for effective beer advertising.
How advertising REALLY works
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A lot of common assumptions about how advertising works are wrong. This video puts the record straight.
The World Turned Upside Down - Understanding the Current Economic Crisis
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Inflation is surging, interest rates are rising and the economy stands on the brink of recession. How did we get here, and what happens next? Marketing effectiveness expert Les Binet explains "The Economic Whiplash", and what it means for marketers.
Marketing planning in turbulent times
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These are turbulent times. Shoppers face rising prices. Businesses face labour shortages and disruptions to supply. And interest rates are only just beginning to bite. Don't panic. This video shows how to tweak your marketing plans for the tough times ahead.
Three ingredients for effective marketing: 3) Physical Availability
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People are lazy and impatient. They may like your product, but if you don't make it easy to find and easy to buy, they'll go elsewhere. Les Binet talks to Hilary Gaines about the importance of physical and digital availability, and how marketing communications can help ease the path to purchase.
Three ingredients for effective marketing: 2) Mental Availability
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It's not enough for people to like your brand - it has to be top-of-mind when they need it. Les Binet talks to Hilary Gaines about the importance of mental availability for consumer brands.
Three ingredients for effective marketing: 1) Emotional Resonance
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Selling is an art as a well as a science. Having a great proposition is not enough. In the first of three videos, Les Binet talks to Hilary Gaines about the importance of emotions, feelings and associations for creating effective marketing communications.
Binet & Field YouTube interview, Summer 2020 (full version).
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"Nothing sells like emotion, and nothing creates emotion like video." Les Binet and Peter Field talk to Google's Mark Howe about how to build brands in today's digital world.
Building brands & winning customers
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Les Binet talks to Hilary Gaines from MetrixLab about how to build brands and win customers in today's marketplace. Topics covered include the tension between acquiring new customers and strengthening loyalty amongst existing customers, the role of targeting and segmentation, the importance of mental and physical availability, and the role of emotion in consumer choice.
Share of search as an advertising metric
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Part Two of my deep-dive into share of search as a marketing metric. In this video, I look at how to use share of search to track advertising.
Share of Search - a new way to track brands & advertising
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Share of Search - a new way to track brands & advertising
Brilliant value! Can you please do the same for marketing? Interesting to learn about your prospective, how does marketing really work? 🙌
So what happened to OOH Les? Turned invisible as the graph suggests?
Can you link all research meta, d2d, etc.. referenced in video?
Could you share a link to the Meta 2022 research shown at 2m45s? Thanks!
"Promo sm" 😚
We've had evidence of the terrible value for money of Price promotions for at least 30 years - I remember presenting it in 1998 for TNS Superpanel - but the reason why it is still done is the Retailer relationship. So how can we transfer the power of advertising into retail that will replace this benefit? Could be retail media, but I suspect the main way would be to also increase the margin given to the retailer.
Thank you Les for clearly explanation of Mental availability concept and its great role in marketing. I would appreciate if you make more videos about MA.
xxxx
Cool, i needed this for a paper. tku
Hi there, U need a professional UA-cam thumbnail designer? Let me know please? Thanks
Excellent video Les - the link between brand and reducing price sensitivity is something I'd also like to evaluate in B2B markets, very important.
@lesbinet7977 On the slide about efficiency at approximately 30 minutes in, on the right bar graph, does media mean the channels that were used? and does variant mean different creative executions? Happy to review the source if you or anyone has a link
Thanks again for another one of these videos; I'm enjoying the quick lessons. To me, the takeaway from this video is how much advertising needs to go hand in hand with the beer company-distribution, pricing-in order to make the right impression. It's nothing new, I know. But nowadays, people expect magic from ads without doing the other part of the four Ps
Thanks, great thoughts!
A classic, and always good to hear these lessons again
Promo-SM
Thank you.
You're welcome!
Please clarify what do you mean by "Relevant buying situations"? Is that a situation when the NEED occurs and also occur the potential customer's associations connected to brand assets? Or is that SHELF oriented situation at the moment when potential customer decides what brand to buy to fullfil the need? Or is it both? Or is it something else? Thank you and to Peter and to Byron and of course to Ritson ))))
Situations when buying the product is a relevant option for fulfilling the customer’s needs.
Brilliant explanation thank you Les, is it the same for B2B ?
Broadly, yes.
What is the difference between efficiency and effectiveness?
Effectiveness is about the size of your achievement, e.g. net profit generated. Efficiency is the ratio of effectiveness to effort, e.g. Return on Investment (ROI). So, suppose you have two campaigns, A & B. Campaign A had a budget of £1m, and generated a net profit of £2m after campaign costs are deducted, achieving an ROI of 2:1. Campaign B had a budget of £2m, generating a net profit of £3m, with an ROI of 1.5:1. Campaign B was more effective, because it generated a larger profit. Campaign A was more efficient because, although it was less profitable, it achieved that smaller profit on half the budget. This illustrates the danger of focusing too much on ROI efficiency. If you want to maximise efficiency in this case, you will opt for Campaign A, and so reduce your profits.
*PromoSM*
Excellent lecture!
Lovely typo at 00:34 😊
"Innovation distinguishes between a leader and a follower." ---Steve Jobs
Could keyword planer help with excluding negative keyword? For example, enter Volkswagen with broad match and keyword planner will return all the possible keyword related to Volkswagen with search volume then we use that data and exclude the negative pr keyword.
Possibly, yes.
How would you measure share of voice? Great video.
Share of adspend, eg via Nielsen. Not perfect, by any means!
Thanks for your sharing!
Been implementing this 76/24 split (the 60/40) since 2016 and it’s been an interesting learning journey across industries in the Nordic’s. The research always needs perspectives from the people implementing it and not only the data from the research.
My favorite speaker, hands down. We missed you a lot, Les. It's so good to see you are back and in full force. Big hug from a big fan
Thanks so much. Things have been tough the last couple of years, but I’m pretty much back to full health now.
Welcome back Les. Great hear you,as always!
Thanks Rodney!
I build it with the Google AdWords keyword planner. Its easier to have multiple brands monitored and I believe a bit more accurate as Google trends shows acural the monthly searches not indexed as google trends does it. What I found a bit harder is to find a proper tool for the share of voice measurement. Some social listening tools offer such a section but so far it was not convincing. Any recommendation for a tool? Simple tool I found as it's also free as a trial is brand24.
Dear Mr. Les Binet, Thanks for this video, very clear & appreciated. I would like to validate the understanding of your theory on the equilibrium level of SOV vs SOS (24:18 min). Can we say that the brands are permanently out of balance, and that the equilibrium line is only a concept towards which the marks tend but are never actually there? Furthermore, if a brand is out of equilibrium, above or below the straight line, will it converge towards the straight line in a perpendicular manner? the most direct way to reach the straight line. Many thanks in advance if could share you thoughts on this.
How can we measure mental availability?
www.researchgate.net/publication/344275308_Measuring_advertising's_effect_on_mental_availability
This article from Ehrenberg Bass should help. And Metrixlab have a product based on this.
Hi, I have a question: when launching a new product, what should come first? Putting all the effort in creating physical availability or putting significant effort in creating mental availability? Thank you for your time and the great content.
You want both, but if you have to choose, usually sort physical availability first. There’s usually little point in stoking up demand if people can’t find and buy your product.
Hi, I have a question: what is the difference between penetration and physical availability? If your product has a vast physical availability, does that mean you have an equally vast penetration? Thank you for your time and the great contents!
Physical availability means how easy is it to buy your product, eg how many shops stock it, how easy is it to find and buy online. Penetration means how many people DO buy your product. They are obviously correlated, but they are not the same.
Dear Mr. @@lesbinet7977 thank you so much for the reply! It’s much appreciated. I’ve read many of your books: Effectiveness in context, obviously The Long and Short of It, How not to plan and listened to many of yours and Mr. Field conferences on UA-cam. Thank you for your work. I am an entrepreneur in West Africa trying to launch a new product in a category that is not common here. So my challenge is both creating my brand and building the product category. The marketing knowledge I’ve gained from your books and talks these last few months are invaluable and I’m looking forward in testing them in the market. Here in West Africa, the only type of wipes that are known and common are baby wipes, I’m trying to introduce and popularized very affordable and pocket size disinfectant wipes that people can use as a substitute to something that is already very popular which are pocket size tissue paper. My disinfectant wipes are almost the same size as the local tissue paper and my price is not that far from the tissue paper price also but my product is both disinfectant (surfing on a new awareness of hygiene driving by COVID), higher material quality and as, if not more convenient than both tissue paper or sanitizer gel. It’s just that that type of product is currently basically non existent, so I barely have any direct competitors but also using pocket size disinfectant wipes as an alternative to pocket size tissue paper or gel is not something that is yet in most people’s habits. I have sold small quantities for more than a year now and the product has been appreciated by many and my goal now is to import a container and really launch the product and build the category. So I’ve been reading a lot on marketing including work from the Ehrenberg-Bass Institute. I’m still putting the financing in place for the whole project but when that is confirmed, if you ever find it in your heart to give some marketing advice (please be aware that I do not abuse of people’s time) to a young entrepreneur taking a big bet, I would love it if you allow me to contact you again for a quick chat. Best regards.
@@BSPoK Hi Didi, find me on LinkedIn and remind me of this conversation. Les
Take care of the long because the short will leave you short!
so say for the automobile category do we simply check searched index on google trends for brand search term; say ford, Mercedes, BMW, etc. or do we also look at brand plus product category say ford sedan cars, mercedes sedan cars, etc.
My analysis was based on brands. But who’s to say I’m right?
@@lesbinet7977 so as per your analysis you picked you brand search terms like ford, mercedes, etc. and then the entire analysis and modelling around it. Right?
@@ImranAnsari-ue2vj yes
Thanks a lot for prompt reply. We are trying to learn and implement from your study. Hopefully, if serves us well too.
Hey Les, I was wondering how to calculate a share of market category with more than 5 competitors, given Google trends only allows 5 inputs at one time? I assume this is an export to excel and then standardising the index’s against each other, but I have no idea how to do this. Can you release a video on how? Even if it’s simple?
Find the biggest search term in the category, which is what everything will be indexed on. Download the data in batches of 5, always keeping that term in. Hey presto, all the data is consistent!
@@lesbinet7977 got it, that’s way more simple than I expected, and possibly a worrying simple question from your perspective! Thanks very much - I’ve already found for the business I’m working on, share of search has an almost exact correlation with top line revenue, so I’m using it as a reference point of what we did in the past that worked and what competitors are doing now. It’s a genuine tool of magic.
@@sampaxinos that’s great to hear!
This is bloody amazing. I’m working with a retail brand that has a competitive set that is mostly privately held, so there’s no publicly available spend / data on advertising. Plus, they have never tracked performance. This is so so good to retrospectively view brand activity / mental availability. Thanks heaps Les. Amazing.
How is the emotional spoken of here different or the same to brand loyalty?
The term brand loyalty, as used by marketers, usually refers to some pattern of behaviour - eg repeatedly buying the same brand rather than rival brands, or buying that brand a lot, or paying a high price for it, or recommending it to others. Emotions on the other hand are private, mental phenomena that influence behaviour. Positive feelings towards a brand might inspire loyal behaviour towards that brand, but the feelings and the behaviour are separate. And actually the effects of emotion on brand loyalty tend to be weak. The main effect of positive brand feelings is to increase penetration more than loyalty.
Thank you very much for the insighful video. If I understood correctly, brands should aim to increase their marketing spend and the effect can be seen in increased sos. So would it be enough to measure the increase in a sos of a specific brand compared to previous time periods? Why is the comparison to other brands necessary?
Just looking at levels of search for one brand in isolation could be misleading, because searches might increase due to some market-wide factor, like seasonality, market growth, economic factors, Covid, etc. Better to compare vs rival brands (share of search), in the same way that market share is a better performance indicator than raw sales.
Hey Les, this is excellent thank you. I’ve always found the emotional response piece was the one missing from Ehrenberg / Sharps texts. I’ve been thinking a lot lately about the emotional impact sponsorship has on a brand, either in a cultural sense (film, social media, sporting) or a ‘rational’ sense (eg. conferences). Do you think the role of sponsorship is to exclusively drive mental availability? or is sponsorship one piece of the brand communications puzzle in driving long term positive feelings / associations?
I’d say it’s a bit of both. The main effect is simply to remind people of the brand. But by sponsoring something people enjoy, such as sport or music, a brand can get a little bit of goodwill by association.
@@lesbinet7977 thanks Les, I think that’s a fair assessment, things like this can be either and not or
So thankful to have this public. How was search data identified as "driven by advertising" vs not? And how was the data labeled as long term vs short term searches in the chart at 10:00?
Very interesting. What would be the book you talk about around minute 3?
“The Decisive Moment” by Jonah Lehrer
@@lesbinet7977 Thank you very much for the reply. I'm quoting your work in my thesis. Btw: This video should have way more clicks.
Hello Mr. Binet, great three part series! Very informative. Thank you 🙃.. I wanted to know if you remember the name of that book you’ve read about how people make decisions and if not if, besides your books and Prof. Sharp’s books, if there’s any good book about that subject that you would recommend. Thank you.
The book I referred to was “The Decisive Moment” by Jonah Lehrer.
@@lesbinet7977 Thank you very much.
"A brand without trust is a product, and products can be replicated". (Not sure I captured that 100% accurately...but damn...that's awesome)
Sounds lovely, but is it generally true? Facebook is growing for years despite having the lowest trust ratings
@@johnkeith4000 FB is a unicorn, in some ways. Brands like Facebook, Apple, or Harley Davidson are rare beasts. A pinnacle most companies never achieve. I’m usually reluctant to use them as marketing examples for that reason. But to your point, it seems FB could definitely be exposed to a flanking move by an upstart.
British wizards of ads!
@@bradparker1488 We have mad respect for Les & Peter at WOA.
Find out more about MetrixLab's approach to market research at www.metrixlab.com
Very interesting, very useful. Thank you!!
Hi, is this US based data?
No, UK
Hi, where can I watch part 1?
On my UA-cam channel
I see it now, thanks!