Three out of four companies that invest in creativity achieve financial success
While many companies have chosen to cut marketing and advertising budgets to cope with losses caused by the Covid-19 pandemic, others have relied on creativity to offer consumers added value during these difficult times.
According to a study by Scopen International, a leading consulting firm that specialises in the communications industry with a deep research foundation, companies that invest in creativity get better results, have more market share, have more effective leadership and are more attractive to work with. Despite this, only 61% of companies worldwide consider themselves creative.
However, creativity, more than ever, says Mayte Ruiz de Velasco, business transformation manager at Scopen, cannot be left to chance. “It is key to drive creativity from within the company, starting with management, changing the way they work and deal with problems. Investing in creativity has been proven to provide a return on tangible benefits such as higher income, greater competitiveness and productivity.”
Such is the influence of creativity in most businesses that 78% of companies that invest in creativity obtain better productivity from their employees and 76% have a much more motivated team. Similarly, 83% of businesses that decide to support creativity are more innovative, 80% have more satisfied customers, and 73% of businesses achieve financial success.
While many companies cut their advertising investment in recent months, others sharpened their wit even further. Here are six examples, says De Velasco, that have been particularly impressive:
- Personalised backgrounds by IKEA: The Swedish company took advantage of their social networks, and more specifically of their Facebook profile, to help those who were teleworking, by designing a filter to be used in video conferences, showing different houses. This was a way to offer different home settings for fun - or simply to hide the mess of confinement.
- Facebook and Netflix ads: Some companies took advantage of the pandemic and a less cluttered advertising environment to create awareness campaigns, including Facebook, which honoured professionals who had to continue with their work during this difficult time, and Netflix, which argued for the importance of staying at home.
- Burger King's birthday parties: Burger King France created “Unhappy Birthday”, a campaign to offer 500 parties once the lockdown is over, to children who celebrated their birthdays during quarantine.
- The Heinz Red Puzzle: Puzzle sales have grown exponentially in recent months. Heinz created 57 limited puzzles that were given as gifts to consumers who commented on their Facebook, Instagram or Twitter posts with the name of the person with whom they would most like to finish the puzzle.
- Dove and the consequences of the lack of hairdressing salons functioning in confinement: Dove created a tribute campaign to celebrate the courageous women who cut their own hair during lockdown and dared to share the results on their social profiles.
- Face masks designed by fashion brands: a number of fashion brands included face masks in their latest catalogues, some of them with authentic designer garments, including Benjamin Bertram, Yvan Andreu, Agatha Ruiz de la Prada and Jean Paul Gaultier.
The big take-out:
Creativity must be driven from within the company, starting with management, changing the way they work and deal with problems
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