The Analytics Power Hour #264: When the Analyst's Toolbox Includes Assessing the Zeitgeist with Erika Olson
Feb 4, 2025
In this engaging discussion, Erika Olson, co-founder of fwd., shares her expertise on brand strategy, drawing insights from her work with major brands like Nike and L'Oréal. She highlights the challenges of quantifying brand effectiveness when data is lacking and emphasizes the importance of intuitive judgment and cultural context. The conversation touches on the shift towards 'quiet luxury' in branding, the necessity of authentic brand strategies, and the evolving consumer narratives that influence marketing decisions. Erika's real-world examples illuminate these complex topics beautifully.
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Episode notes
Actionable Metrics
- Tracking broad metrics like "trust" over long periods offers little actionable insight for marketers.
- Sales data and current performance provide more relevant indicators of a successful strategy.
Resource Allocation
- Brand awareness and consideration dictate resource allocation.
- High consideration and low awareness signals to prioritize top-of-funnel marketing like performance campaigns.
Justifying Brand Investment
- Justifying brand investment to CFOs can be difficult using dollar values.
- Highlight the risks of not investing, like losing market share or appearing inferior, to secure budget.