Brands should be 'deliberately inefficient' to drive innovation, says Sky finance chief

Andrew Griffith, the chief financial officer and managing director of commercial businesses at BSkyB, believes companies should "force in inefficiency" to help drive innovation.

Speaking at a 'Mad Men vs Math Men' talk at the Advertising Association's Lead conference, Griffith advised companies to "segregate a pool of money to be deliberately inefficient because that is where serendipity happens".

Griffith pointed out brands can create an atmosphere conducive to innovation by setting aside a proportion of employees' time or setting up a project that has no key performance indicators or expectations of a return on investment.

Ronan Dunne, chief executive at Telefonica UK, added that he believes a key contributor to success is putting faith in the brand by placing the marketing director on the board and allowing them to "own" the P&L (profit and loss statement).

He said: "Before you can sell a brand concept effectively to customers you have to sell it in the board room and there are not many representatives of the marketing industry who are actually sitting in the board room."

Building up the "integrity" of the brand in the board room is possible by ensuring CEOs can have confidence in the metrics driving the business relate to brand, argues Dunne.

Griffith believes media owners such as Sky should shoulder some responsibility for providing marketers with the ammunition they need.

He said: "It is up to us as media owners to be equipping you with all the tools to make that case in the boardroom.

"Something like AdSmart is hugely measureable and transforms the debate about reconciling inputs and outputs."

Marketers should be in another job if they do not have a "super clear granular view" of customers, according to Griffith.

He said: "It has to be super granular otherwise it is no longer insight because there is someone out there who can have more granularity than you have.

"I think the reason Sky is successful and marketing is at the heart of our business is because we have a one-on-one customer relationship. That is the way the world is going with people who have grown up with digital technologies."

Discussion

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Brand Republic Jobs

subscribe now

Latest

Virgin, Baileys and Camelot join the line-up at Media360
MasterCard renews Rugby World Cup sponsorship to push cashless message
Lynx unleashes £9m 'Peace invasion' campaign
Social Brands 100 Youth: Pizza Hut most social youth brand in UK
Cheryl Cole is wild and arresting in new L'Oreal work
Morrisons told not to show alcohol ads during YouTube nursery rhymes
O2 head of brand Shadi Halliwell departs after 23 years at company in restructure
Tesco hit by further sales decline as it turns to digital Clubcard and social network
Branding guru Wally Olins dies aged 83
Duracell short film captures epic Transatlantic voyage
Ash runs Tinder experiment to show smokers are less desirable to opposite sex
British Airways teams up with Gerry Cottle Jnr for summer of rooftop film screenings
Arklu says 'girls can be superheroes too' with doll design competition
Coke enters squash market with Oasis Mighty Drops
Virgin Galactic signs up Land Rover as space flight sponsor
Motorola marketer Andrew Morley departs as Google gears up for sale to Lenovo
US Airways apologises after tweeting obscene image at a customer
Mumsnet admits users' emails and passwords accessed via Heartbleed bug
Thetrainline.com backs 'rubbish' mobile app with TV ad
Powerade launches global World Cup campaign
Subway considers taking fast food to fast lane with F1 sponsorship
Burberry's flagship Shanghai store facade responds to weather changes
Ikea splurges 'grey' Belgium with colour
Grim outlook for Tesco boss Philip Clarke ahead of expected profits fall
Thomson to create first crowd-sourced wedding decided by Facebook fans
Currency wars meets origami in Alpari FX trading ad campaign
Amazon rumoured to launch 3D smartphone in September
Facebook to allow European users to store and transfer money on site, claims report
Unilever pilots multi-brand advertising with YouTube beauty channel
Lego, Coca-Cola, Net-a-Porter, Bitcoin and AOL: the digitally creative brands