SBP 068: The Barber's Brief - April 25, 2024

Welcome back to another episode of The Barber’s Brief. A segment where we cover news that caught our eye, a marketing moment where we highlight a case study, and our ad of the week. We hope you enjoy the show! Our Hosts: Follow our updates here: ⁠⁠https://www.linkedin.com/company/sleeping-barber/⁠⁠ Get in touch with our hosts: Marc Binkley: ⁠⁠https://www.linkedin.com/in/marcbinkley/ Vassilis Douros: ⁠⁠https://www.linkedin.com/in/vassilisdouros/⁠ In the News Marketing Week: Bloom & Wild - an online florist is “chasing profitability” by cutting marketing budget and focusing on customer retention. https://www.marketingweek.com/bloom-wild-focuses-on-customer-retention-over-acquisition-as-it-chases-profitability/  Business Insider: Tesla lays off its new marketing team months after launching it. https://www.businessinsider.com/tesla-new-marketing-team-advertising-cut-layoffs-2024-4  Media Leader: Forbes 7-year scheme to dupe advertisers https://the-media-leader.com/forbes-seven-year-mfa-scheme-shows-how-deep-the-rot-runs-in-online-advertising/ https://adalytics.io/blog/ads-observed-on-www3-forbes-subdomain Social Media Today: Meta Brings Advanced AI Chatbot to All of its Apps. https://www.socialmediatoday.com/news/meta-ai-chatbot-facebook-instagram-whatsapp-messenger/713662/ Marketing Moment: Baileys - The Pleasure Dividend WARC Case Study This strategy won Silver from the IPA Effectiveness Awards Baileys Irish cream launched in 1974 By 2008 (34 years later) it was in 147 markets Always has a role as a dinner liqueur, mainly at Christmas In 2009, sales were declining and by 2014, they were 16% below the 2008 peak increased pricing to try and compensate for volume losses  Tried a bunch of different campaigns but nothing was working Diageo (parent company also owns Guinness, Johnny Walker) establishes a best practice - brand success is about being good at and committing to one big thing The Campaign  The big insight - baileys is part cake, part booze and pure pleasure The Strategy People love the product but they need reminders of when it might be relevant (CEPs) You can have it after dinner at Christmas or 52 weeks a year when … Poured over ice cream In coffee In cake At brunch  On the weekend With Milkshakes On French toast In Chocolate Anytime you want a treat The Results 23% growth between 2015 - 2019  250M pounds gross profit over 5 years Increase in male share of purchases Gains not due to price increases, discounting or increased distribution in big markets Compared to previous campaigns, they get an extra $1 in profit for every $1 spent in media ($2.5 v. $1.5) Have AI Break, Have A KitKat - KitKat Canada Link: https://youtu.be/U33RTQsa7Bo?si=g47535UTjKrnWJHh