The fastest motor racing sport in the world, Formula 1 is a world championship of 21 Grand Prix across 21 different countries. It features some of the best drivers in the world, racing for teams with a rich heritage in motor racing like Ferrari. Although synonymous with glamour, big name sponsors and manufacturers, the sport is highly regulated in terms of car technology and TV broadcasting rights. Under the ownership of Bernie Eccelestone, the reach of what goes on behind the scenes of racing was highly restricted. Fans and followers were limited to watching live broadcasts of the race weekends on TV and following news through international publications. With the advent of social media, access to behind the scenes content was still highly regulated, limiting the growth in audience across the globe. However, this changed when Liberty Media took over Formula 1 in 2017. Championing social media as the primary tool to grow its audience numbers, the company allowed teams, drivers and partner TV broadcasters to release behind the scenes content over all social media hubs like YouTube, Instagram and Twitter. Fans and followers had access to more than just watching the race weekends, they could now follow the glamorous lifestyle associated with the sport, gaining more interest.
With more curated content related to behind the scenes, press conferences, podcasts and special events, Formula 1 started gaining a lot of traction across social media platforms. According to a recent Autosport article, Formula 1 has seen a 53% YoY growth across Facebook, Instagram, Twitter and YouTube, with a strong fan following of 18.5 million people across the globe. The top performing markets for Formula I in 2018 were Brazil, China and United States, with India and Europe close behind. Through this extended access and curated content over social media platforms, Formula 1’s fanbase had an average age of 40 that was inline with most major sports and leagues like NFL, EPL, NBA and so on.
Liberty Media took the right steps and used the right platform to make Formula 1 the fastest growing sport on social media. With the recent launch of Formula 1’s digital subscription offering called F1 TV, the sport has seen a further growth in audience and fan following, taking the overall numbers to 506 million across the world. With new initiatives lined up for the 2019 season, Liberty Media is looking to take Formula 1 to the top spot and further build on the growth it saw in 2018.
There is an abundance of choices out there for consumers to gain access to different companies. That being said, it is important to maintain a presence in more than one channel to reach said audience. Companies need to be where their consumers are, and therefore, they should be investing in a multichannel marketing strategy, as opposed to single channel marketing.
According to the study conducted by Forrester research, 97% of marketing decision makers said they had experienced an increase in revenue due to their multichannel marketing efforts.
What is the difference?
Single channel marketing is exactly what it sounds like; when a companies uses one channel as their way of communicating their message to consumers. All of their marketing efforts are invested in this one approach. Multichannel, or integrated, marketing is when more than one channel is used. A single marketing plan is used through many channels, distributing the same message across them all.
The biggest pull of this style of marketing is that it is presumed to be the most cost efficient way to market. It is also seen as more focused since efforts are going in one direction through one platform. However, in this day and age, one channel will simply not keep up with current technology. Certain organizations rely on quick response rates, therefore some channels are not as speedy as others, and if that is your sole channel then one can really hurt his or her business.
There are a few things to keep in mind when trying to implement a multichannel marketing approach. Firstly, each company’s leadership should identify their main goals. Then, they can determine which channels will help achieve these goals, without wasting money on unnecessary channels. They should aim for the most relevant channels that work best for their brand. Secondly, the company must be proactive about making sure their message is consistent across all the channels they use. The biggest feature of multichannel is the ability to reach significantly more consumers easily. There is an increased chance of gaining more of a following if your message is given in different ways to different people. Also, you are reaching your customers through their preferred channel, making it easy for them to receive your information. The simplicity of it all should contribute to an increase in activity. Multichannel marketing will also provide companies with more overall data, which can be beneficial to the operations and management side. Other specific benefits may include better tracking of the companies own performance, less of a cost in the long run and faster marketing campaign execution.
According to multiple online sources, experts highly recommend the key to a successful multichannel approach is consistency across all channels. Additionally, this approach allows for the marriage between older marketing strategies and new marketing strategies created by advances in technology. This combinations allows for the opportunity to engage a variety of consumers, no matter their channel preference. A last key takeaway is to ensure your company is implementing a multichannel marketing strategy, as opposed to simply marketing through multiple mediums. It is important to use these channels in order to benefit the company in the most efficient manner.
The video below can help explain these two strategies with some examples:
A first-rate promotional strategy is integral first step to any successful industry focused marketing campaign. Knowing what is the right what, when, and where to present and expose a product is a vital skill. Vital to this business model is the concept known as the “Marketing Mix”. The “Marketing Mix” describes the multifaceted processes which a business goes through in order to bring a product to the market, and in turn, promote said product. This process has been condensed and simplified to make up the “4 P’s of Marketing”. These 4 P’s include: Product, Place, Price, and Promotion.
During the 2012 London Olympics,
sports clothing company, Adidas, promoted their brand through a “Take the
Stage” marketing campaign. Adidas’s simple but striking promotional campaign
featured inspirational photographic portraits of young British athletes. By
focusing on the relevance of young Olympic athletes, who are just starting
their athletic careers, Adidas was able to differentiate themselves from other
Olympic sponsors, who have predominantly focused on older more established
athletes. This campaign targeted an audience of young people, in the 13 to
19-year-old group, who had begun lost interest in the Olympics as an
a whole Adidas’ “Take the Stage” marketing campaign was a success, its first TV
spot received a total of 62,000 views on YouTube (Tomorrow Awards). The
campaign’s hashtag, #TakeTheStage, was mentioned 57,816 times for a total of
187 million prints (Tomorrow Awards). The marketing campaign significantly
boosted Adidas’ public profile, especially for the young generation of
Another important part of the
marketing mix for sport is sponsorship, which refers to the act of associate a
person, organization, or activity with their own organization by supporting
them with money, encouragement, or other aid. An example of an effective use of
sponsorship would include the United Nations program, Unicef, sponsorship of
the soccer team, FC Barcelona, during the early 2000s.
is an equally beneficial mutual program for both entities, as Unicef’s
humanitarian efforts are given wider global awareness as their logo is on FC Barcelona’s
jerseys. While on the other hand, FC Barcelona’s “nice guy” brand is further
developed by their association to a global humanitarian and developmental
program, such as Unicef.
Going back to Adidas, the
product image of a specific product can be just as important as the image for
the brand as a whole. We see this with Adidas chose of Brand
Ambassador for their Superstar tennis
shoes, which was a new take on the vintage Adidas trainers of the 1970s. Adidas
were down to two potential Brand Ambassadors Kanye West or Pharrell Williams.
While Kanye West obviously represents the “over the top” personal brand, Pharrell Williams sports a more down to earth and simple personal brand. Adidas ended up using the personal brand of Pharrell to market their more subdued and nondescript shoe from the 70s, the Superstar, to great effect and profit. Adidas’ sales of its vintage shoes increased more than 46 percent in the quarter after its release.
Pricing is a challenging process even for well-known brands. Because firms are not competing in a stable environment, they need to respond to rapid changes and change their pricing strategy. Information technology has helped firms to implement their strategies and increase their revenue and customer satisfaction. In this blog, we would see how different companies changed their strategies by proper use of information technology.
Challenge: Product pricing in the right way and forecasting market changes
The pricing and distribution system of the company was an old system that could not be responsive to the fast-paced retail market with the increasing competition. On the other hand, pricing usually requires an expert human, and it was difficult to predict market changes in these conditions.
Solution: Using Business Intelligence Decision Systems. To solve this challenge, GIANT FOOD has used the DemandTec system. This system is able to predict customer demand by analyzing a huge amount of competitive data and sales terminals. It also eliminates the need for an expert human for pricing with a comprehensive codification of pricing rules, the pricing process is done automatically. The GIANT FOOD system also enables to predict the effects of price changes and other improvements and changes ahead before the supply of the product to the market. It adopts a decision commensurate with the exact information provided by these predictions and chooses the proper strategy. By using this decision maker, the company has doubled its returns.
Challenge: Losing the market share of customers due to the rapid entry and growth of competitors.
The company is one of the top telecom companies in New Zealand, which holds about 50% of the market share. The entry of rivals and their rapid growth in the company’s market has threatened to cut the recruitment rate of new customers as well as the loss of old customers.
SOLUTION: The company, with the benefit of the data warehouse system from EDW, has been able to integrate data from different parts of the company into segments and provide an integrated view of the company’s entire data. The use of data warehouse led the company to the analytical marketing and led to the provision of analytical queries for different parts of the company, and could be used by suitable customers and marketing tools for each one. The company formed the Department of Customer Knowledge Analysis for market research, which, using data warehouse and data analysis, has survived in the competitive environment of the market and remains one of the top companies in the field. Utilizing the data warehouse, in addition to data integration, has streamlined marketing processes as well as better use of the company’s human resources, eliminating the need for several specialists to manage data.
Challenge: Huge volume and growing transactional data
The company is a satellite television service provider. With around thirteen thousand employees across the United States and Latin America, the company attracted around fifty million subscribers in 2008. With this volume of activities and subscribers, the company faces a large amount of data. On the other hand, company executives needed real-time reports from various sectors such as marketing and sales, customer services, and the technology sector for business decision-making.
SOLUTION: Despite the company’s use of the data warehouse system, due to fact that the system was out of date, and the provision of information and reporting on a daily basis, the managers’ need for quick reporting was not satisfactory. By using the new data warehouse system, data updates were reduced to fifteen minutes. This has led to significant changes in the company. For example, in a sales unit, a sales staff employee can immediately recapture the client by taking into account the proper strategy and offering appropriate proposals (higher quality, discount, etc.) by immediately observing the customer’s report. Utilizing this system will increase the company’s competitive advantage and decrease costs.
Challenge: Need to analyze non-structured data
It provides services, solutions, products, and technologies globally for individuals, large, and small organizations. The company’s most prominent products include personal and business computers, pocket computers, printers, and more. A large number of customers are contacted through email with the company. These emails contain important information such as customer feedback, their evaluation of service and product quality, and the type of customers that they are affiliated with. There is a large amount of this kind of unclaimed data, without analytical use, in different companies. Data mining can extract this vast amount of valuable data.
SOLUTION: HP has been able to extract valuable information from emails and customer comments by utilizing its tools. With a precision of 80% in extracting information from texts, this highly acclaimed system is now used by various parts of the company for targeted marketing and a better understanding of customer needs.
Challenge: The need for accurate and up to date information to support decision-making, and implementation of proper strategies in competitive conditions.
This international company is a global manufacturer of printed products with over 50 sales representatives in more than 160 countries. Given the competitive conditions of the market and the need for up to date and accurate business decisions, company managers needed quick and accurate information, which was not possible with the company’s old information systems. For this company, access to sale information, inventory levels, and information exchange with sales representatives are critical.
SOLUTION: The company was able to efficiently face this challenge by purchasing software for retail business intelligence that is compatible with stores and retailers. By providing the ability to analyze sales data and inventory of different departments, this system made it possible to access accurate information for employees throughout the company. Using this system, managers were able to accurately respond to queries such as the top store last week, in terms of sales, bestsellers, inventory levels per product, and more. Using this system has led executives to make better strategic decisions by better understanding their business processes, facilitating identification of new opportunities to attract customers, and choosing strategies to increase customer loyalty.
Challenge: poor performance in satisfying customers, high costs
Toyota Motor Company in the USA is a subsidiary of Toyota’s massive car dealership. In the late 1990s, the company was faced with problems in its supply chain. On the other hand, the inability to deliver the car to the dealerships on time was a matter of discontent with them, and the purchase from rival companies such as Honda was followed. The management of the transportation sector required close follow-up and accurate management of the supply chain, requiring accurate information and reporting to conduct this follow-up and effective management. The fact that the process was done manually or in some places using the old information systems caused the overlap of reports, inaccuracy in the provided information, and the slow process of data transfer.
The solution: The company set up data warehousing as an essential need for the company’s management. In 2000, with the upgrade of the data warehouse and Oracle data warehouse system as well as the Hyperion business platform, which had management dashboards, the company reached its goals. They increased 40% in the capacity of the car delivery with only a 3% increase in the cost and a 5% reduction in the time of transportation, as a result. The benefits of using the system in this section of the company encouraged Toyota executives to use the system in other sectors as well. The results showed that using Toyota’s business intelligence has led to a return on investment of 506 percent.
Challenge: The need for customer information for effective marketing
Egg is one of the world’s largest online banks servicing over 3.6 million online banking customers. Appropriate storage and customer data analysis is required to provide access to customer information and to prevent delays in the provision of services.
SOLUTION: By using the Customer Data Warehouse (CDW) the company was able to collect customer information in a comprehensive way, and with the use of these data, data mining tools were used to generate valuable reports and analyzes. Using this system Creating marketing campaigns using real-time data and customer segmentation was effectively implemented to implement strategies for each customer segment.
Challenge: The need to reduce costs, increase customer loyalty and encourage customers to come back.
This online business, which began as a florist, went on to become an online retailer and became one of the top brands in the field. This e-commerce business, like other customer-oriented businesses, needed to attract and keep customers, and as a result, needed customer information for real-time decision-making. To increase customer loyalty and attract new customers.
Solution: Using the SAS data mining tool, the company has been able to discover customer purchasing patterns and use this knowledge in its business practices. The use of a recommender system for old customers and the proposal to buy items based on customer purchasing history has increased customer loyalty to this online retailer. Additionally, by using the knowledge generated by the marketing process data mining process more efficiently, and taking into account potential customers, the company gained enormous profit while competitors were trying to stay on the market.
Source: E. Turban, R. Sharda, J. E. Aronson, and D. King, Business intelligence: A managerial approach. Prentice Hall, 2008
The impact of religious, family, educational and
social systems on oneself and on people that is the way they live and the
choices they make. Marketing exists in an environment that is shaped by
culture. Domestic or International Marketing both needs culture to thrive.
There are many organisations that intend to market their products in different
countries, must be sensitive to the cultural factors at work in their target
markets. Cultural differences between different countries or different regions
in the same country seem to be very small, marketers who ignore them, faces failure
risk when they implement their programs.
Culture is very complex in nature and it takes significant time, effort and expertise to conquer the market. Different features of culture can create illusion of similitude, but marketers need to dig deep to make sure that they truly understand the people and environments in which they work. Even a common language does not guarantee similitude of interpretation. For example, in the U.S. people purchase “cans” of various grocery products, but in Britain it’s “tins.” In India, where English is officially recognized language after national language Hindi, “matrimonial” is used instead of dating website in conversation, referring to personal advertisements in newspapers seeking marriage partners.
Several dimensions of culture that
require particular attention from global marketers are listed below.
As we have seen above, the importance of language differences cannot be under rated, and there are nearly three thousand languages in the world. Language differences can be a challenge for marketers while designing campaigns, product labels, brand and product names, tag lines, and so on. One single brand name can work universally in terms of meaning but it has its own challenge. Correct and proper grammatical usage in marketing communication is essential for a product, brand, or company to be viewed as credible, trustworthy, and of high-quality.
Language is more complex when a country has more than one official language. To illustrate, in India and China, more than two hundred different dialects are spoken. India has more than twenty officially recognized languages. Mainland China’s official spoken language is Chinese. Meanwhile in Hong Kong and Macau, Cantonese Chinese, English, and Portuguese are the official languages. Hence, language can become a very complicated issue for marketers.
Finally, global marketers should be atpar to what they communicate when they choose which languages to use–or not to use. Products that carry label may suffer accordingly.
Customs and Taboos
Every culture has its own sets of customs and
taboos. It is important for marketers to learn about these customs and taboos
so that they will know what is acceptable and unacceptable for their marketing campaigns.
For example, in China, the number eight is considered lucky and green colour
which is colour of infidelity is avoided in many functions and celebrations. In
Middle Eastern countries where Islamic law is strictly observed, images displaying
the uncovered arms or legs of the female body are considered offensive.
Meanwhile in Egypt, where many women wear the headscarf or hijab in public, an increasing number of younger
women are in work and educational settings where gender segregation does not
exist. Marketers struggle with whether to portray women with or without
the hijab, knowing that they risk offending some of their
target audience with either choice. Marketers should seek guidance from local
experts familiar with local culture and customers. Marketing research can also
help marketers understand these complex issues.
The role of values in society is important where it
is followed and it dictates what is acceptable or unacceptable. Values are part
of the culture, and they can also be expressed individually, arising from
the influence of family, education, moral, and religious beliefs. Values are
also learned through experiences. Values can also influence consumer
perceptions and purchasing behaviour. For example, consumers in some countries,
such as the United States, tend to be individualistic and make many purchasing
decisions based on their own personal preferences. In other countries, such as China,
India etc. the well-being of the group is more highly valued, and buying
decisions are more influenced by the well-being of the group, such as the
family. Based on these differences in values, it is not surprising that commercials
featuring individuals tend to do better in countries where individualism is an
important value, and commercials featuring groups do better in countries where
the group’s well-being is a higher value.
Time and Punctuality
Different cultures have different attitude towards punctuality.
In some countries, being slightly late to a meeting is acceptable, whereas in
other countries it is very insulting. For cultures that highly value
punctuality, being on time is a sign of good planning, organization, and
respect. In cultures where precise punctuality is less important, there is
often a greater emphasis on relationships. The fact that a meeting happens
is more important than when it happens.
While there are cultural stereotypes about time
management, the best rule of thumb in business is to be punctual and meet
deadlines as promised. Also, it is wise not to apply popular stereotypes to
individual people for whom the cultural stereotype may or may not be true.
Business norms vary from one
country to another and may present challenges to international marketers who
are not used to operate according to the particular norms of the host
country. In business meetings in most parts of Asia, for example, it is
expected that the most senior person representing an organization will lead the
discussion, and more junior-level colleagues may not speak at all. The role of
alcohol in business meetings varies widely by culture: in Middle Eastern
cultures where alcohol is forbidden, it may be insulting to serve or even offer
an alcoholic beverage. In China, many rounds of toasts are customary as part of
formal dinner meetings.
Similarly, business norms around greetings and
physical contact also vary. American-style handshakes have become accepted
as a business norm in many cultures, but this custom is not universal. In Asian
cultures, a respectful bow is the traditional business greeting, although the
handshake is becoming more common. In Islamic cultures, contact between men and
women is a sensitive issue, even in business settings. In those regions and
cultures, it is best to shake hands with a woman only if she extends her hand
first. In India, the namaste (a
slight bow with hands brought together on the chest) remains a respectful, if
traditional business greeting particularly when interacting with women and
Religious Beliefs and Celebrations
As discussed earlier, religious set of beliefs and
practices can have strong influence on what consumers buy (or don’t buy), when
they shop, and how they conduct business. It is important for marketers
to understand the influence of religion on consumer culture in the markets
where they operate, so that their marketing activities can be appropriate.
Failing to respect religious beliefs or cultures can seriously undermine the reputation
of a company or brand. At the same time, marketers who well verse about the
impact of religion on local culture can find great advantage in aligning
marketing messages and promotional opportunities to religious practice.
For example, all the major world religions observe
holidays. These festival seasons tend to be prime shopping seasons as well,
such as the Christmas season in Western cultures, or Ramadan in Muslim
cultures. Religious beliefs lead to sensitiveness about certain products:
in the Hindu religion, cows are considered sacred and people refrain from
eating beef. Jews and Muslims consider pork unclean, and they consume only
kosher or halal meats, respectively. Many religions eschew alcohol: for
example, devout Sikhs, Muslims, Mormons, Buddhists etc. all refrain from
Religious beliefs may cause sensitive issues around
revealing images or sexually suggestive material. Religious beliefs associated
with different colours may create either preferences for or rejection of
certain products and marketing materials. The link between religious practice
and gender roles may affect the purchasing decisions. Even if a woman, for
example, is not the primary buyer, she may exercise strong influence of many
In other areas of cultural impact, it is crucial
for marketers to educate themselves about the people and their culture, that they
are targeting for marketing and doing business in order to use cultural
knowledge as an added plus.
At this point, we are masters at understanding what global branding truly means; but do we know how to master global branding for our businesses? In order to gain a competitive advantage by differentiating yourself from your competitors, bolster your reputation and retain customers; it is vital to have a strong, clear brand identity. This is especially true when taking your business global. Master these 5 Steps in order to build this brand identity:
Train to Maintain Brand Consistency
Consistency is key, especially when going beyond your country’s borders. Regardless of your business’s location, all marketing materials, brand guidelines, online platforms and office interiors should all be identical. This consistency should also be found beyond just the brand of your company, such as in customer experience and messaging; but should do so while also keeping in mind any cultural differences, standard regulations and customer expectations based on region.
Develop Customizable Campaigns
Going global requires having to learn as much as possible about the new market and country you will be expanding into. After some research, you must then customize your business to the region, language and culture of your potential customers. This is where the challenge comes in. You must keep your brand consistent, while also customizing it to fulfill customer expectations of each separate market.
Vet All Brand Representatives
In order to secure your brand identity, it is important to hire the right people that can not only portray this identity, while also understanding the local customs of where they are located to tackle potential business problems. For this reason, it would be wise to consider hiring locally as they are already familiar with local culture, norms and laws. By including your senior leadership team in the hiring process, you will also be able to stay true to your brand and corporate values.
Address Issues Immediately
By ignoring any issues that arise, you can expect to see your business face some serious critiques all over social media. With the majority of the population being on social media it is important to address and issue and provide solutions immediately. This requires equipping your teams with the necessary tools and skills to handle complaints that meet your company global standards.
Get to Know the Competition
This goes back to gaining a competitive advantage. Understanding the competitive market within each region will not only give you an upper hand, but might also help you discover some unlikely allies. Consumer preferences are constantly changing, so being prepared to work with competing companies would be a smart proactive move to ensure the future growth of your business.
It is important to find that balance between consistency and customization, while maintaining control over all aspects of your business as it goes global. Follow these steps and your business stands a chance of having a strong brand identity.
In the Unites States, it is a question every independent filmmaker asks himself. Should I go into foreign markets with my movie? Honestly, the answer is most of the time made for them.
Here is what I mean. Depending on what genre, actors or director chosen, and budget of the production will determine which distributors will be interested. Different distributors will have different areas they can serve (ie home sales such as DVD, Bluray, digital distrobution, theatrical distribution etc). They will look at these factors above and determine how much they believe a project may make in revenue. They will determine if there is profit to be made and offer some figures.
Basically they will use so much money to market and ditribute it in foreign markets. Then, when the box office figures start to roll in they will start calculating the percentage agreed upon to pay you from the gross, but then deduct the fees and costs. So, even if you do get a deal, that doesn’t mean you will make money from that deal to go foreign. And even if the film makes money in the foreign market, it doesn’t mean you as the Producers or the investers will make money from it either.
Knowing who the film will play well to, the market and demographics will help the Producers decide if finding foreign distribution is worth it. Some movies just focus on the domestic market and know that is where it will play best. Take a movie like “Unplanned”. It is an independent film made for around $6 million (not including promotion). Because of the genre and story it isn’t going to try and even worry about a foreign market. It knows it strengths are within the US. That it needs to focus its efforts here in order to be successful.
It has grossed $12 million at the box office over its first ten days. It hasn’t started to make money yet. It does look like it may make some money for the producers and investors depending on the way they structured the distribution deals and how much they get for theatrical (usually somewhere between 40 and 50%) and non-theatrical distribution. They still have a bit more to go for a profit though, unless they managed to get a good deal from television sales at a network that this story plays well for, which is possible.
Large budget movies are more likely to go for a foreign market simply because studios make movies that will have more of a broad appeal and that can find legs in foreign markets as well in order to maximize profits. So you are much much more likely to see a large budget film go foreign.
Mercedes-Benz is known for being capable of constantly delivering durable and luxurious vehicles to consumers and other businesses. The top quality provided by the company is often accompanied by high prices, and it has become a problem for the Mercedes-Benz vans.
Mercedes-Benz vans are usually purchased by other companies that want to provide a luxurious experience to their clients. These vans are often very durable and efficient. However, a basic model can start around $33,000. The price can go up to almost $100,000 sometimes depending on the added features that a company wants. Some companies couldn’t help but wonder if they were spending their money wisely
In order to address this problem, Mercedes-Benz Vans briefed its agency Storycatchers to change the conversation from up-front cost to lifetime value. It started a new marketing campaign to help the company work around this problem and reach its sales objectives.
The solution was a campaign called “Keeping Business Moving”. It served as both a mission statement and a promise to customers. It focused on why some businesses, such as catering and delivery companies, choose Mercedes-Benz vans over other vehicles to add values to their services and reduce costs at the same time.
The campaign was initiated in 2017 and quickly spread out across all media platforms. It shifted the focus from the vans themselves onto what the brand can do for its customers. The campaign included Mercedes-Benz’s first ever TV ad in the UK, seeking to use emotions to drive actions.
The campaign achieved phenomenal success. While its competitors were experiencing a fall, Mercedes-Benz was able to break the annual sales barrier of 40,000 vehicles in the UK for the first time. The sales number beat the objective goal of that year and represented a 12% increase year-on-year increase in sales. At the same time, less money was spent on marketing. In fact, about 400,000 pounds less was spent in media than in the previous financial year. The dramatic increase in engagement rate throughout all media platforms indicates that the new brand approach was closely matching its customers’ interests. The campaign went on to win Marketing Week’s Masters award in 2018 in the B2B category.
Even though Mercedes-Benz is usually strongly correlated to luxury and expensiveness inside a consumer’s mind, Mercedes showed that with the right marketing methods, a company can change how the market and the consumers perceive its brand.