Nine years ago, I attended my first Cannes Lions International Festival of Creativity.
Some things have changed. Others, not so much.
Here’s what I am seeing this year:
1. Brands aren’t staying in their own lanes.
Brands and production companies are coming together to create the next iteration of branded content. We already saw Starbucks launching Starbucks Studios to produce original entertainment that amplifies its narrative and weaves it into culture. Rolex is backing the new Roger Federer documentary, "Federer: Twelve Final Days," and Mattel co-produced last year's movie blockbuster "Barbie. This is way more than strategic product placement, it's about subtly lacing a corporate narrative into high-quality entertainment — and underwriting the TV and film business in the process.
Would love to see more b2b companies do this but then we all know b2b buyers don’t like to be entertained. (Right? RIGHT?!)
2. Influencers are the new celebs.
Nine years ago, when I brought up influencer marketing in discussions with brands, they looked at me cross-eyed.
At that time, one of the few influencers present was a young kid named Logan Paul. Fast forward to today, there are now more influencers and creators at Cannes than traditional celebrities.
3. Buzzwords everywhere. AI, purpose-driven marketing, generative AI.
However, I firmly believe that none of these concepts matter unless you truly comprehend the shifting nature of your market and the evolving purchasing habits of your customers. None of these shiny-things will make your brand RELEVANT.
4. Ad-fraud remains stupefyingly high, with 23% of advertising budgets effectively wasted.
Cannes primarily celebrates advertising. Advertising IS a type of marketing but marketing is not simply advertising
Yet, brands continue to invest in advertising, often driven by misaligned incentives. We need to choose the meaningful over the merely measurable.
5. B2B is still SO behind B2C when it comes to marketing. There is a lot of navel gazing.
I feel like a Taylor Swift song when it comes to attribution in marketing not being the holy grail and we need to be more creative. “Everybody agrees…everybody agrees…”
But, it’s a lot of b2b marketers talking to each other and nodding. Then, they go back to their offices to function as on-demand collateral centers for sales.
Most companies persist in focusing on generating "leads" to fuel their sales teams. Meanwhile, the sales teams often report that these leads aren't converting.
Yet, buyer behavior is evolving! The rise of dark social means buyers want to talk to sales LAST and marketing has to hold much more sway.
I will say, the opportunity for brands and marketers that “get it” is going to be immense. Just make sure you are in an environment where you can actually practice your craft.
Enabling digital trust - we are hiring!
1yFrederique Barendse Randall Husken Kathleen Cools