- 9 years, 7 months ago
Q&A with Nick Fletcher, Director of Service Strategy at Rakuten Marketing
In this Q&A, Nick Fletcher, Director of Service Strategy shares his thoughts on Rakuten Marketing's 'The Fast Track to Global Success Through Affiliate Marketing ' project, nominated in the Luxury category at The Masters 2015. See the full list of nominees here.
What do you think made this project really stand out?
It’s a wonderful success story of a simple idea that is very difficult to execute: enormous revenue growth on a CPA-only model in the luxury fashion space. This was all coordinated seamlessly with a dedicated team on the ground in London, Sydney, Tokyo, and New York.
How do you build the perfect team?
First and foremost, you need the perfect client; we have that in Farfetch. As a company they are extremely agile and open to new ideas. Without that, none of the success we’ve achieved would be possible. I’d like to thank Farfetch’s Natasha Lawley in particular for her tireless commitment to growing this channel.
When it comes to building the team itself, you need a combination of strategic vision and a great work ethic, fuelled by belief in what you’re doing and a genuine passion for the brand. It’s also crucial not to underestimate the importance of team dynamics: every individual has their strengths and weaknesses, and understanding these for every individual on the team can make the difference between success and failure.
Which campaigns have you seen recently that are defining the marketing landscape?
It would be remiss of me if I didn’t give a nod to the excellent work that our display arm has produced with Papa John’s; which deployed hyper-local targeting and cross-device tracking to deliver a ROI of 22:1! Naturally, it’s shortlisted in the Mobile Marketing category for The Masters!
What types of company do you see excelling at marketing at the moment?
Data is becoming increasingly valuable for marketers, but bad or misused data can lead to bad decisions. Companies that can offer high-quality and scalable 1st and 2nd party data have a bright future.
Marketing is becoming more and more data and technology-driven, how can marketers ensure the right balance between creative thinking and scientific marketing?
We’re all familiar with the term “analysis paralysis”, and there’s clearly a danger of becoming so stuck in the data that we’re no longer able to grab consumers’ attention. Good data may make your marketing spend go further, but creative thinking still rules when it comes to how a brand captures peoples’ emotions: both need to be near-perfect in order to deliver truly exceptional marketing campaigns.
What do you see as being the biggest trends of 2015, and do you see examples of companies capitalising on these as part of their marketing campaigns and programmes?
Programmatic certainly isn’t a new concept, but the spread of programmatic to TV, through the likes of Sky’s Ad Smart and Channel 4/Freewheel, is a genuinely exciting development and one to watch (excuse the pun) closely over the next 6-12 months.
How should companies be defining and measuring marketing excellence?
As consumer behaviour becomes more and more complex, it’s increasingly difficult to accurately measure the impact of specific marketing campaigns. With multi-million pound budgets being allocated based on the ROI they deliver, companies should turn to dedicated measurement experts that can agnostically analyse multi-channel performance. It’s worth spending money on measurement, not just channels.
What are the core elements of inspiration to be found within marketing?
Consumer behaviour ultimately dictates everything that we do as marketers, and whether it’s fulfilling a want or a need, finding new and creative ways to capture their interest ultimately drives us to innovate and create exceptional marketing campaigns. Those campaigns which aren’t rooted in creativity and innovation are doomed to fail.
What inspired you to enter The Masters this year? What would winning an award mean to you?
We wanted to enter The Masters this year to reward Farfetch and their global affiliate team for the outstanding work they’re doing, which has recently led to a 91% lift in affiliate revenue. Winning this award would be a true honour, and living proof that affiliate marketing can be hugely successful for luxury retailers.