Adwatch: Tesco understands compound interest

Tesco shows an enduring commitment to the effectiveness of creativity, says Matt Tanter, chief strategy officer at Grey London

At our strategy away day recently, Matt Gladstone (our brilliant head of all things effectiveness) gave the talk he gave at Cannes about Long Term Effectiveness. Matt G, himself a very clever man, quoted an even cleverer man, Einstein: 

"Compound interest is the eighth wonder of the world ... he who understands it earns it … he who doesn't … pays it."

What we have here, with Tesco, is both a brand and an agency - Bartle Bogle Hegarty - that understand it and are earning it. Compound interest is the notion of investment generating interest and reinvestment scaling and cumulating interest at a disproportionate rate. When you look at powerful enduring brand ideas the investment and commitment to them pays back in the same way, creating an ever-increasing yield.

‘Every Little Helps’ is just that. Each ad although seemingly simple delivers another inarguable and recognizable expression of a powerful enduring idea that has galvanized a business.

It's not easy to create such an idea and momentum, of course. The trough of disillusionment and the ‘let's make something new’ spirit can draw you away. The ‘it hasn't started shifting the needle after 3mins on air’ attitude can mean it never gets off the ground. But more than anything, the ever-increasing drive for efficiencies can mean it is not valued.  

But nothing compares to the value creation of powerful enduring creative thinking. The additive ability of a compelling brand idea to pour more money and good will into the top line than any cost cutting could shave off the bottom.

Belief and commitment to creativity and proving its worth is our collective responsibility. So in the face of the drive for efficiency, commit to effectiveness of creativity. Show how enduring powerful brand ideas, like ‘Every Little Helps’, can continue to transform the fortunes of our clients, our agencies and our industry. 

Tv ads launching 31st july - 27th august 2017 Recall (prompted advertising awareness)

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