Just under half (49%) of Irish consumers say advertising is either important or very important in influencing their decision when choosing between similar products or services, according to new research carried out on behalf of the Institute of Advertising Practitioners in Ireland (IAPI).
The research, which was undertaken by Core, underlines the importance of good marketing communications in telling the brand story and making a connection with consumers to drive revenue growth and long-term, sustainable value creation. The research also found that two in five (41%) Irish consumers are encouraged to choose a brand with a clever or memorable advertising campaign
IAPI conducted the research ahead of its Putting Brand at the Heart of your Financial Strategy conference, in association with the Institute of Directors Ireland, which took place this week.
According to Charley Stoney CEO of IAPI: “The gap that has grown between the marketing and financial functions in Irish business is one that we at IAPI are eager to close. We are delighted to be hosting this event alongside the IoD.”
As the intangible asset of the brand is beginning to appear on balance sheets, delegates heard how leading brands have worked to align their business, financial and marketing strategy, which has considerably increased the value of their brands in the market. These brands have closed the gap between the financial and marketing functions, which had seen the brand value being eroded by short-term thinking and financial reporting.
Speakers at the conference included David Haigh, CEO of Brand Finance, Damian Devaney, Global VP of Marketing and Communications at Smurfit Kappa, Ken Bowles, Group CFO at Smurfit Kappa, Sharon Walsh, Global Cider Director with Heineken and Alan Cox, CEO of Core.