Branding as the New Growth Lane — Jeff Greenfield // Provalytics

Quotes

• "In today's digital world, there's been an avalanche of changes. We've had all this privacy regulation going on, the iOS changes that don't allow apps to track across. We've got the cookie apocalypse, which is coming up; third-party cookies will be gone from Chrome. And then also on top of all this, we've got all the walled garden. In the earlier days of the internet, everything was interconnected, and you could track people across things. And now, with these walled gardens, you can't." - Jeff Greenfield

• "We have to go back to how things were before digital marketing because, before digital marketing, huge brands were able to build massive companies. And the way they did, it is not because they knew this caused this. Still, they used a Marketing Mix modeling technique that allows you to look at the correlation between impressions or GRPs in the market and your sales." - Jeff Greenfield

• "Provalytics uses non-user level data, takes data out of Facebook out of Google, and uses AI and machine learning to get the same type of results we can get with multi-touch attribution." - Jeff Greenfield

• "You have to think about the emotional aspects of things. That's where all these ideas come from, is it you have to get, break down and understand who the people are, that you're trying to market to, and understand their real needs." - Jeff Greenfield

• "Everyone today is trying to act the same way that TikTok does. I was very disappointed with many Superbowl ads this past year because they were fast-moving. And they're just trying to trigger the brain and make you want more. Whereas it's been proven that when you start to deal with things on an emotional level and start to impact people, the job of advertising and these campaigns is not necessarily to move the needle immediately in. The job is to fill the funnel and build awareness." - Jeff Greenfield

• "We have more tools now than we ever had in moving someone from awareness down the funnel." - Jeff Greenfield

• "What ends up happening to your brand when you take money, where you're used to building awareness, and put it down to the lower funnel? Your reach is much less when your funnel is much shorter and smaller. And as a result, advertising has to work twice as hard, sometimes three times as hard." - Jeff Greenfield

• "More brands are spending less and less on branding and more on performance marketing. And what ends up happening is advertising effectiveness goes down. But luckily, there are stories like Airbnb, which stopped all their performance marketing during the pandemic. They ran ads and said, Hey, we're here for you. We're here with you. And that built an emotional connection with people. And now their brand has taken off, and they no longer do performance marketing." - Jeff Greenfield

• "Branding is the new growth lane. Because a whole generation of marketers has never done branding, it's like they're trying to figure out how do you do this. And how do you prove it works? And that's what measurement demonstrates that what you're doing fills the funnel and leads to sales." - Jeff Greenfield, CEO and Co-founder of Provalytics.