Creativity. It’s more valuable than you think.
While we’re well beyond the question of whether advertising works (it does), a more intriguing question is whether or not creativity makes a difference. Does a more creative campaign generate better returns? And if so, by how much?
We recently uncovered a Harvard Business Review research study that confirms creativity really does matter: ‘Overall, more creative advertising campaigns are more effective – and considerably so.’ Interestingly, the study also found that, ‘in most cases, companies are underinvesting in creativity and that the conservative approaches utilized in many product categories are leaving money on the table.’
The study also revealed that increased investment in creativity typically pays for itself, and more effective, creative ads also allow other parts of the ad budget to be significantly reduced. In fact, researchers claim that, ‘A euro invested in a highly creative ad campaign had, on average, nearly double the sales impact of a euro spent on a non-creative campaign. The impact of creativity was initially relatively small, but typically gathered momentum as the campaign rolled out.’
So if you can spend less while earning more, why do some companies continue to take what may be perceived as the ‘safe’ route and produce less creative advertising that garners a smaller degree of sales and results? Could it be that taking a chance on something more creative might be perceived as risky? Or if previous campaigns were at least marginally successful, a company may be willing to live with those marginal results versus stepping up and making a bold statement with a campaign that truly differentiates its products or services?
We don’t know why a company would take the ‘safe’ or marginally successful approach either. For more than two decades, Macy + Associates has always espoused developing creative that generates superior and tangible results for Clients. Give the team at Macy + Associates a call if you’re ready to invest in creativity that delivers positive bottom-line results.
Harvard Business ReviewResearch Study; Published June, 2013