Research via McKinsey, the ANA and Cannes Lions
Companies that successfully manage to integrate creativity and data enjoy a “two times difference in revenue growth”, according to research by McKinsey. Brian Gregg, a senior partner at the consulting group, discussed this subject during a session at the 2018 Cannes Lions International Festival of Creativity.
“The difference between those [companies] who have learned to integrate data and creativity versus those who have not is a two times difference in revenue growth,” he said. “It’s the difference between growing 10% and 5% – a massive difference,” said Gregg.
This finding was based on a study conducted by McKinsey in partnership with the Cannes Lions and the Association of National Advertisers (ANA). More specifically, this research ultimately covered over 200 enterprises, and involved qualitative interviews conducted with 40 marketing leaders.
Drawing on these inputs, McKinsey identified various traits that were shared by businesses that are effectively combining data and creativity. “What we found is they actually had found ways to integrate these two talent pools up and down the value chain in marketing,” said Gregg.
Elsewhere, this group of firms proved 56% more likely to be leveraging analytics, and even artificial intelligence, in consumer-insights teams, showing that they were committed to technological innovation as well as heightened creativity.
Achieving such outcomes, however, relies on building multi-functional, agile teams with capabilities ranging from brand managers and content creators to media experts, analytics practitioners and information-technology staff.
Fusing Data and Creativity Boosts Revenue. (2018, July 30) WARC.