The panel posed the question, 'Is your brand brave enough?' and presented new research on how consumers view brands that take stands.
The comments were made by panelists to a room of more than 100 marketers at the Cannes Lions International Festival of Creativity 2023, hosted by Insider.
The survey also showed that consumers respond to advertising that surrounds first-person storytelling, which the data shows results in a 20% higher purchase consideration. The speakers talked through examples of bold initiatives from their own brand work, including Diageo's 2022for J&B that ran in Spain, featuring a grandfather who learned how to put on makeup to support his transgender granddaughter.
Goodby spoke about how important it is to understand the brand"context" when creating these kinds of campaigns."Every brand has a context ... and the context of your brand has to be taken into account," he said.
Insider Intelligence's Enberg said,"One of the most important things to remember as a brand, as you're thinking about taking a stand, when you're thinking about being brave, is that when you do your voice is going to be amplified. You will probably also be put under a microscope."
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