This newsletter comes from the hosts of The Marketing Architects, a research-first show answering your biggest marketing questions. Find us on Apple Podcasts or wherever you listen to podcasts!
This week, we’re discussing marketing science with research professor and Director of the Ehrenberg-Bass Institute Byron Sharp. Keep reading to learn why evidence-based marketing matters, what marketing research gets wrong, and much more.
—Elena
Brands with less market share attract fewer (and less loyal) buyers.
That’s according to the Double Jeopardy Law as explained in How Brands Grow. It’s a reminder that increasing market share is an absolute must for business growth.
The science behind effective marketing.
Sharp emphasizes that relying on scientific principles, rather than gut feeling, is crucial for success. Especially in the long term. He encourages marketers to stack what they think they know against what the data says is true.
Because that’s how you achieve truly effective marketing. Start by:
Challenging assumptions. Many marketing "truths" aren't supported by evidence. Plus, not all "evidence" is equal. Learn to interpret data correctly and avoid misattributing causation.
Understanding your category. Instead of making assumptions about your target audience, actually research who buys in your category. The results might surprise you and should form the foundation for all marketing decisions moving forward.
Rethinking loyalty. Remember when everyone was obsessed with loyalty programs? Turns out they might not be the golden ticket to growth. Focus on attracting new customers rather than relying on loyalty.
Embracing broad reach. Mental availability is crucial. Advertise to everyone in your category, not just those likely to buy soon. This builds long-term brand strength and ensures your top-of-mind when someone is in-market.
“How Brands Grow: What Marketers Don’t Know”
This seminal book from Byron Sharp and the Ehrenberg-Bass Institute challenges conventional marketing wisdom with evidence-based insights. It's a must-read for marketers seeking to ground their strategies in scientific principles.
Mental availability matters.
"So the maintenance of mental availability depends on the quality of branding and advertising. Distinctive, consistent icons and imagery build memory associations that allow a brand to be noticed and recalled in a range of buying situations."
— Byron Sharp