Today Advertising Age named Ford Motor Company (NYSE: F) the 2010 Marketer of the Year. Citing its drive towards profitability in one of the worstÂ economicÂ crisis in current history, Ford certainly deserves the trophy.
Below are the highlights of Ford’s success:
- $4.7 billion profit first two quarters 2010
- 17% U.S. Auto & Light-Truck Market Share 2010 YTD
- U.S. yearly sales â†‘Â 17% through August (doubling industry-wide gain of 8.4%)
- 55% more likely to buy Ford due to refusal of TARP funds (Rasmussen Reports survey)
The appointment of the company’s first global leader of marketing, sales & service, Jim Farley, is certainly one reason for the company’s turnaround. Additional factors include:
- One Ford – internal & external focus on a single brand
- Marketing focused on the product – not Henry Ford
- An internal bottom-up creativity culture shift
- Merging the Advertising & PR departments
- The Train Model – tapping the best agency talent inside/outside WPP
It seems betting the company on the refusal of TARP funds in 2008 paid off for the auto giant with a onceÂ in a lifetime PR boost and an environment poised for a major cultural & marketing shift.
You can read more about the 2010 Marketer of the Year on AdAge.com.
Source: Advertising Age, 2010