Podcast Summary: Uncensored CMO – "How Not to Plan: What Matters Most in 2025" featuring Les Binet and Sarah Carter

Release Date: January 8, 2025

In this enlightening episode of the Uncensored CMO, host Jon Evans engages with renowned marketing experts Les Binet and Sarah Carter, authors of the insightful book How Not to Plan. The discussion delves deep into pivotal marketing strategies and insights that are shaping the landscape in 2025. From the significance of long-term brand consistency to the evolving role of purpose in marketing, Binet and Carter provide a comprehensive analysis backed by data and real-world examples.

1. Celebrating Marketing Excellence and Long-Term Consistency (00:50 - 02:20)

The episode commences with Les Binet and Sarah Carter receiving accolades for their work, notably the McCain campaign, which uniquely won both the Grand Prix and the Charles Channon Award at the IPA. Carter highlights key lessons from the McCain paper:

Sarah Carter [01:45]: "There's the value of long-term consistency... and the effect on price sensitivity and pricing power, which ultimately boosts margins and profit."

Binet adds that the longevity of marketing personnel, such as the McCain campaign’s marketing director who remained for a decade, underscores the importance of steadfast agency-client relationships:

Les Binet [02:20]: "Family-owned companies think in generations... They build cultures that people want to be part of long-term."

2. Understanding the Customer Beyond the Agency’s Demographics (05:35 - 10:02)

A critical insight presented is the notion that marketers often fail to consider the actual demographics of their target customers. Carter cites a poignant example:

Sarah Carter [08:43]: "The average new car buyer is about 60 years old, but advertising teams, often in their 20s, think about themselves instead."

This disconnect leads to ineffective marketing strategies that do not resonate with the intended audience. Binet and Carter emphasize the necessity for marketers to exit their personal bubbles and genuinely understand their customers' lifestyles and needs.

3. The Power of Pricing in Marketing Strategies (19:54 - 25:07)

Binet introduces pricing as the "unsung hero of the four Ps," arguing that it significantly impacts a brand's profitability and boardroom perception:

Les Binet [21:55]: "If you can sustain a premium, your impact on profit is enormous, and everyone can afford to spend on brand building."

Carter concurs, explaining how consistent emotional branding enhances pricing power:

Sarah Carter [21:11]: "We've known that advertising can affect pricing power for a long time, but it's gaining renewed attention."

The duo underscores that effective pricing strategies not only support profitability but also validate marketing's importance in the eyes of corporate leaders.

4. Embracing Emotional Diversity in Advertising (51:30 - 54:45)

Discussing the role of emotion in advertising, Carter clarifies that emotions are multifaceted and not merely about eliciting tears or joy:

Sarah Carter [53:28]: "Emotions and feelings are slightly different things... It's about creating associations and making the brand come to mind in relevant buying situations."

Binet adds that the intensity of emotions plays a crucial role in marketing effectiveness:

Les Binet [54:06]: "There's a close connection between the strength of the feeling and the short-term effects of a campaign."

5. Media Consumption and the Enduring Relevance of TV and Out-of-Home Advertising (42:04 - 68:09)

Contrary to the notion that TV is obsolete, Binet presents data showing TV's continued supremacy in reaching audiences:

Les Binet [43:28]: "TV remains number one in terms of share of attention, even among the under 35s, and it's the second cheapest media per million impressions."

Carter emphasizes the importance of sheer exposure, arguing that the volume of reach often outweighs media choice or creative execution:

Sarah Carter [48:07]: "The biggest factor that determines whether a campaign succeeds is how much you spend and how many people you reach."

The conversation transitions to Out-of-Home (OOH) advertising, highlighting its rising effectiveness and broad reach:

Les Binet [63:23]: "Outdoor advertising now overtakes TV as the medium with the broadest reach and highest number of exposures."

Both experts advocate for a balanced media strategy that prioritizes high-reach channels to maximize campaign impact.

6. Reevaluating the Role of Purpose in Marketing (54:45 - 58:40)

The discussion turns to the debated concept of purpose-driven marketing. Carter argues that while genuine purpose remains vital, its application as a strategy for profit can appear inauthentic:

Sarah Carter [56:02]: "Purpose is not a strategy for selling stuff. Genuine purpose is setting goals beyond profit, otherwise, it's purpose washing."

Binet adds that economic shifts, such as rising interest rates, have prompted companies to refocus on profitability over social initiatives:

Les Binet [57:35]: "Billions are flowing out of ESG market funds because people realize they're not more profitable."

This shift reflects a broader industry trend towards realistic and sustainable business practices.

7. Balancing Creativity with Consistency (25:07 - 33:29)

Binet and Carter explore the balance between creativity and consistency, debunking the myth that consistent branding equates to boring marketing efforts. They argue that creativity thrives within consistent frameworks, allowing brands to keep their core identity while refreshing their campaigns:

Les Binet [26:31]: "Consistency doesn't mean lacking creativity. It's about making the familiar fresh."

Carter illustrates with examples like Marmite and Spec Savers, demonstrating how maintaining certain brand elements while introducing subtle innovations can enhance memorability and effectiveness.

8. The Enduring Impact of Out-of-Home Advertising (63:46 - 68:09)

Wrapping up, Binet highlights the underestimated power of Out-of-Home (OOH) advertising through clever campaigns by brands like Spec Savers:

Les Binet [63:23]: "Spec Savers' 'Should Have Gone to Spec Savers' in Sydney airports was a brilliant example of simplicity and cleverness in OOH."

Carter reiterates the necessity of integrating OOH into marketing strategies due to its unparalleled reach, despite measurement challenges:

Sarah Carter [65:16]: "Outdoor is the only way you can reach everyone, and it should be scrutinized closely for its effectiveness."

The experts advocate for renewed focus and innovation in OOH to harness its full potential in contemporary marketing.

Conclusion

In this episode, Les Binet and Sarah Carter provide invaluable perspectives on the essence of effective marketing in 2025. Emphasizing long-term brand consistency, the strategic importance of pricing, the nuanced application of emotions, and the enduring power of traditional media like TV and Out-of-Home advertising, they offer a roadmap for marketers aiming to navigate the complexities of today's dynamic landscape. Moreover, their candid analysis of purpose-driven marketing urges brands to pursue authenticity over transient trends, reinforcing the foundation of sustainable business success.

For marketers seeking to refine their strategies and align with proven effectiveness principles, this episode serves as a compelling guide to what truly matters in the realm of marketing.