Preference: The Secret to a Profitable Marketing Mix
In this week’s episode, we sat down with Kristian Melå, Co-founder and Head of Brand Partnership Advisory at Cure Media to sort out what essential role preference plays in when it comes to building a profitable marketing mix. Many legacy brands invest heavily in creating awareness, but they neglect the middle stage of the funnel, resulting in the need to overspend in the performance stage to make up for the lack of brand preference. The marketing landscape continues to evolve rapidly, and approaches that may have worked a few years ago no longer suffice. Marketers must consistently assess their strategies to ensure they remain relevant and in tune with current consumer behaviour. We’ll cover: The preference glitch and the leaking funnel Benefits of peer-to-peer and influencer marketing for building preference The relationship between high preference and profitability