The $2.82 trillion mistake, and how creative branding can stop you making it

By Woven Agency, Friday October 18, 2024

How many brands wend their way across your vision? While the oft-quoted number of 10,000 adverts a day has been largely discredited, most sources will tell you it’s in the hundreds, if not the thousands. Point is, ads and their brands are everywhere. 

And yet the majority of them are exercises in wasted time, effort and money. 

Research by Proxima shows that many companies are ineffectively spending between 40 and 60 percent of their digital budgets.

That’s a lot of wasted marketing moulah. And that’s why creative branding is more important than ever. Without it, businesses risk becoming just another faceless entity, an unseen wave in a sea of competition.

Playing it safe is risky business

According to a 2023 survey conducted by the CMO Council, companies are projected to spend $4.7 trillion on global marketing by 2025. If Proxima’s research stays true, then that’s up to $2.82 trillion set to be wasted in the coming year.

Why is this happening? The answer often lies in a lack of differentiation and risk-taking.

Too many companies stick to what they think is safe, resulting in marketing strategies that don’t move the needle.

This is understandable: marketing managers are entrusted with big budgets. But, as the stats prove, playing it safe is the riskiest strategy. Safe campaigns are forgettable, and when businesses fail to stand out, they waste their marketing budgets and miss out on growth.

As a CMO or brand manager, your job is to make your brand different, resonant, unforgettable.

Playing it safe won’t do that. But creative branding and advertising will.

Companies are set to spend $4.7 trillion on marketing in 2025. Research says 60% of that could be wasted, equating to $2.82 trillion going up in smoke.

Why creative branding is essential to your business

Whether it’s through unique storytelling, eye-catching visuals or an unexpected customer experiences, a brand’s ability to think outside the box and take creative risks is often the determining factor in its success.

Think of some of the most iconic brands in history — Nike, Apple, Coca-Cola. What do they all have in common? These companies don’t just sell products, they sell ideas, lifestyles, emotions. ‘Just do it’ is about much more than athletic wear. It’s about empowerment, determination, and the spirit of winning.

Apple’s ‘Think different’ slogan captured the essence of creativity and innovation and positioned the brand as the antithesis to stiff-shirted Windows PCs.

Creative branding works because it makes an emotional connection. And emotions, not logic, are what drive most purchase decisions. According to Harvard professor Gerald Zaltman, 95% of purchasing decisions are subconscious, driven by emotions rather than reason.

Which means creative branding isn’t just an exciting thing to do it, it’s the logical thing.

Creative is key to standing out

A study from Adobe found that 82% of companies believe that creative branding powers business success, yet many are still hesitant to step outside their comfort zones.

So why the hesitation? The fear of failure often holds companies back from embracing more adventurous branding strategies. But here’s the thing: Innovation and risk are inseparable. You can’t have one without the other. While not every bold campaign will succeed, those that do can yield incredible results.

In short, the more you invest in creativity, the higher the chance of success.

Consider the Old Spice ‘The Man Your Man Could Smell Like’ campaign. Before launching this creative — and funny — campaign, Old Spice was outdated and set for the scrapheap.

But by taking a risk, by creating something unique, they captured the attention of a younger audience and revived their image, leading to a 107% increase in sales within months of the campaign launch. It was a risk, yes, but much less risky than staying the same.

Brands that shy away from creative risks fall into the trap of mediocrity and then wonder why their marketing budgets didn’t work. While taking risks means that some campaigns might miss the mark, the rewards can far outweigh the potential downsides. If your brand can stand out, make people feel something and break through the clutter, you’ve already won half the battle.

Creative branding: The ultimate dividend

In a hyper-competitive market, businesses that embrace creative branding — and a creative culture — are the ones that capture attention, win new customers and succeed in the long term.

It’s not enough to simply show up in front of your audience, your brand needs to leave a lasting impression.

So, ask yourself: Is your brand standing out or blending into the background? The answer may determine whether your marketing budget is a game-changing investment — or just another wasted expense.

Our case studies in creative branding

We’ve been helping brands stand out for two decades. Through our unique ‘Brand Soul’ model, we uncover what makes you special and how you can better connect with your ‘soulmate’ audience. Then we craft a brand that looks, sounds and feels like your very best self — at every touchpoint.

Here’s what creative branding looks like to us, and if you like what you see, get in touch.