The Art of Media Planning, Buying & Strategy
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Transcript of The Art of Media Planning, Buying & Strategy
How to Develop a How to Develop a Marketing Strategy Marketing Strategy
Danielle GoodrichDanielle Goodrich
Define Marketing Define Marketing
Marketing: is the Marketing: is the entire process by entire process by which a market is which a market is identified, developed identified, developed and served.and served.
StrategyStrategy
Strategy works on the target consumerStrategy works on the target consumer’’s mind s mind associating the product with benefits of value to associating the product with benefits of value to the target consumer. the target consumer. It is often confused with tactics. Strategy It is often confused with tactics. Strategy answers the question answers the question ““Why buy?Why buy?”” Tactics Tactics answer the question answer the question ““Why buy now?Why buy now?””A tactic enhances the strategy and uses a A tactic enhances the strategy and uses a limited duration event, offer or incentive to limited duration event, offer or incentive to inspire a consumer to act now.inspire a consumer to act now.
Strategy is long term. Tactics are short term. Strategy is long term. Tactics are short term.
Essential Building Blocks Essential Building Blocks
Define the marketing objectives by understanding Define the marketing objectives by understanding the business and business goals.the business and business goals.TargetingTargetingGeographyGeographyTarget Audience Media UsageTarget Audience Media UsageSeasonality-TimingSeasonality-TimingBenefits SoughtBenefits SoughtCompetitive Perception Competitive Perception PositioningPositioningMeasure-Baseline StudyMeasure-Baseline Study
TargetingTargeting
Identify theTargetIdentify theTarget
Audience/DemographicAudience/Demographic
Who spends the most or generates the Who spends the most or generates the most profit?most profit?
How would you describe this person?How would you describe this person?
Who are the heavy users and how can you Who are the heavy users and how can you find more people like that? find more people like that?
Define Market SegmentsDefine Market Segments
Almost every brand has multiple consumer Almost every brand has multiple consumer segments they wish to targetsegments they wish to target
Nike-could target every one who has feetNike-could target every one who has feet
That is too broad for marketing purposesThat is too broad for marketing purposes
Nike has to identify specific market Nike has to identify specific market segmentssegments
Such as professional athletes, weekend Such as professional athletes, weekend walkers, teenagers walkers, teenagers
Pareto PriciplePareto Priciple
80/20 Rule80/20 Rule
In every company a In every company a minority of their minority of their customers represent customers represent a majority of their a majority of their revenuerevenue
20-25% of your 20-25% of your customers account for customers account for 70-80% of your total 70-80% of your total revenuerevenue
Targeting Targeting
Demographics (Qualitative): Age, Gender, Demographics (Qualitative): Age, Gender, HHI, EducationHHI, Education
Psychographics (Quantitative): Attitudes, Psychographics (Quantitative): Attitudes, Values, Preferences, Behaviors, LifestylesValues, Preferences, Behaviors, Lifestyles
Generation Segments: Baby Boomers, Generation Segments: Baby Boomers, Generation Jones, Generation X, Generation Jones, Generation X, Generation Y/Gen Next/MillenialsGeneration Y/Gen Next/Millenials
ResearchResearch
The answers to these questions come The answers to these questions come from market research which could be as from market research which could be as simple as asking the client, going online simple as asking the client, going online and googling, asking a dozen shoppers or and googling, asking a dozen shoppers or as complex as a thousand telephone as complex as a thousand telephone interviewsinterviews
Scarborough, MRI, NRS Media, Scarborough, MRI, NRS Media, Quantcast, Citydata, U.S. Census Quantcast, Citydata, U.S. Census
Charlotte Motor Speedway ex.Charlotte Motor Speedway ex.
Not All MarketNot All Market’’s Are Created Equals Are Created Equal
Demographics within target markets may Demographics within target markets may vary vary
Therefore if this data is available in all of Therefore if this data is available in all of your markets, make sure they are your markets, make sure they are consistentconsistent
Or make different target audiences for Or make different target audiences for each marketeach market
How to select the How to select the
marketing geography andmarketing geography and
identify target marketsidentify target markets
Target MarketsTarget Markets
Market Potential AnalysisMarket Potential Analysis
Determine Which Markets/Regions will generate Determine Which Markets/Regions will generate the most profit at the lowest costthe most profit at the lowest cost
Use Traditional Media CPP (SQAD) against sales Use Traditional Media CPP (SQAD) against sales in each market to determine whether a traditional in each market to determine whether a traditional media spend is cost effectivemedia spend is cost effective
Determine Growth Market PotentialDetermine Growth Market Potential
Distributing Budget Distributing Budget
Primary, Secondary, Tertiary MarketsPrimary, Secondary, Tertiary Markets
Budget Distributed AccordinglyBudget Distributed Accordingly
Determining the BudgetDetermining the Budget
Client provides, or agency Client provides, or agency recommendationrecommendation
10-20% of potential profit/sales10-20% of potential profit/sales
Target Audience Media UsageTarget Audience Media Usage
Consumer Purchase FunnelConsumer Purchase Funnel
44% 40% 35% 34% 30%22%
19%17%
12% 11%11%
12%
6%7%
4% 3%3%
6%3%
4%4%
3%
6%
5%3%
4%
19%26%
41% 45% 49%59%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Awareness Interest Consider Purchase Want to Purchase Visit Store/ Website Make Purchase
Television Internet Newspaper Magazine Radio Email Outdoor Other No Media Influence
Media Usage ResourcesMedia Usage Resources
Nielsen, Arbitron, MRI, Radiolocator, Nielsen, Arbitron, MRI, Radiolocator, SRDS, OAAA, TVB, IAB, Quantcast, SRDS, OAAA, TVB, IAB, Quantcast, Mediacenteronline.com, Adage, Mediacenteronline.com, Adage, Mediaweek, American Advertising Mediaweek, American Advertising FederationFederation
Timing/SeasonalityTiming/Seasonality
Branding Branding
vs. vs.
Promotions/EventsPromotions/Events
Brand Equity
0
50100
150
200
250300
350
0 3 6 9 12 15 18
Months
Cu
sto
mer
s
Customers
Promotions
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2040
60
80
100120
140
0 3 6 9 12 15 18
Months
To
day
Cu
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sCustomers
Ticket or Sales AnalysisTicket or Sales Analysis
Sometimes Budget Effects TimingSometimes Budget Effects Timing
For a brand strategy if a client can not For a brand strategy if a client can not afford to be on annually, determine flight afford to be on annually, determine flight weeks and dark periodsweeks and dark periods
Look at slower periods of salesLook at slower periods of sales
A spike is easier to inflate than a valleyA spike is easier to inflate than a valley
FlowchartFlowchartTOTAL TOTAL
8/3/09 8/10/09 8/17/09 8/24/09 8/31/09 9/7/09 9/14/09 9/21/09 9/28/09 10/5/09 10/12/09 GRP's COSTLOCAL CAMPAIGN
ONLINE (Charlotte.com, WSOCTV.com, WBTV.com) $30,000.00
GEO-TARGETED CAMPAIGN
ONLINE (Facebook, Nascar Scene, Jayski, Media General, Nascar.com, thatsracin.com) $40,000.00Social Media/Alternative Media/Guerilla $25,000.00
REGIONAL ADVERTISINGOUTDOOR: Charlotte $80,000.00Radio: John Boy & Billy $20,000.00TV: Regional Cable Sports Networks $7,500.00SPEED Channel TRADE $3,750.00National Spots via NASCARPRINT ADVERTISINGNewspaper (TBD based on Speedway Charlotte Observer ageement) $25,000.00College Papers $7,500.00
Direct Mail$72,000.00
LOCAL MEDIA FOCUSTIER 1 - Primary Market: Highest Market PotentialTV INDEX CPPTimeWarner-Cable $25,000.00TimeWarner-TRADE $1,500.00Charlotte 37 $137.00 50 50 50 100 100 100 100 50 600 $82,200.00
RADIOCharlotte 22 $78.00 50 50 50 100 100 100 100 50 600 $46,800.00
TIER 2 - Secondary Market: High Market PotentialTVTimeWarner-Cable $10,035.67Greensboro-High Point-Winston Salem, NC 44 $60.00 50 50 50 100 100 100 100 50 600 $36,000.00
RADIOGreensboro-High Point-Winston Salem, NC 42 $55.00 50 50 50 75 75 75 75 50 500 $27,500.00
TIER 3 - Tertiary Market: Average Market PotentialTVCharter-Cable $10,625.00Greenville-Spartanburg-Asheville 110 $55.00 50 50 50 75 75 75 75 50 500 $27,500.00TimeWarner-Cable $10,785.56Raleigh-Durham, NC 117 $150.00 $9,916.66
RADIOGreenville-Spartanburg 62 $45.00 50 50 50 50 50 50 50 50 400 $18,000.00Asheville 50 $29.00 50 50 50 50 50 50 50 50 400 $11,600.00Raleigh-Durham, NC 83 $101.00 50 50 50 50 50 50 50 50 400 $40,400.00
TOTAL COST $668,612.89
Media Buying 101Media Buying 101
Terms to knowTerms to know
CPM (Cost Per Thousand) – cost to reach 1,000 peopleCPM (Cost Per Thousand) – cost to reach 1,000 people
Formula: cost of 1 ad x 1000/circulationFormula: cost of 1 ad x 1000/circulation
CPP (Cost Per Point) – the cost to reach 1% of the HH in a given marketCPP (Cost Per Point) – the cost to reach 1% of the HH in a given market
DMA (Designated Marketing Area) – Nielsen termDMA (Designated Marketing Area) – Nielsen term
Rating (estimate of audience expressed as 1%)Rating (estimate of audience expressed as 1%)
GRP -the sum of rating points in a plan (reach x frequency = GRP)GRP -the sum of rating points in a plan (reach x frequency = GRP)
Reach – the unduplicated percent of an audience exposed to a messageReach – the unduplicated percent of an audience exposed to a message
Frequency- the number of times each audience member was exposed to Frequency- the number of times each audience member was exposed to a messagea message
ROI – return on investment (net profit – cost of advertising) x 100ROI – return on investment (net profit – cost of advertising) x 100
Impression – number of times an ad was displayed Impression – number of times an ad was displayed
http://blueonionmedia.com/glossary.phphttp://blueonionmedia.com/glossary.php
Mediabuyerplanner.comMediabuyerplanner.com
News about interactive, TV, radio, ooh, News about interactive, TV, radio, ooh, printprintthe growth in online video ad spending will surge past TV growth through the growth in online video ad spending will surge past TV growth through 2016. It will surge by 54.7% this year, and slow to 18.9% in 2016; but that 2016. It will surge by 54.7% this year, and slow to 18.9% in 2016; but that will far exceed TV’s 6.8% growth this year and 4.5% in 2016. But as it will far exceed TV’s 6.8% growth this year and 4.5% in 2016. But as it predicted in January, TV will still exceed the online ad spend in 2016 (albeit predicted in January, TV will still exceed the online ad spend in 2016 (albeit by a narrowing gap).by a narrowing gap).
TV and online video views will be counted togetherTV and online video views will be counted together
Forty-five percent change the channel during political news coverage.Forty-five percent change the channel during political news coverage.
Thirty-nine percent change the channel as soon as they see a political Thirty-nine percent change the channel as soon as they see a political advertisement.advertisement.
Twenty percent are more likely to watch programs online, and 19% are Twenty percent are more likely to watch programs online, and 19% are more likely to record programs they want to watch to avoid commercials.more likely to record programs they want to watch to avoid commercials.
Social Media NewsSocial Media News
The past 4 years was about social listening. The The past 4 years was about social listening. The past two were about social presence, next is past two were about social presence, next is social advertising and later social commerce.social advertising and later social commerce.
What are men interested in soccer talking What are men interested in soccer talking about? Social posts and ads. about? Social posts and ads.
Pinterests contests. Pinterest shoppers are 10x Pinterests contests. Pinterest shoppers are 10x more likely to make a purchase than visitors more likely to make a purchase than visitors referred to from other networks.referred to from other networks.
Check out AMC Theatre, British Midland Check out AMC Theatre, British Midland International and HuHot International and HuHot
Partnerships, Promotions & Partnerships, Promotions & Social MediaSocial Media
Look to partner with Look to partner with CVB, tourist CVB, tourist attractions, hotels & attractions, hotels & restaurantsrestaurants
PRT, Behavioral, PRT, Behavioral, Keyword online Keyword online advertisingadvertising
Align with a good Align with a good causecause
Develop creative Develop creative outside the box outside the box promotions promotions
Have a person Have a person dedicated to social dedicated to social mediamedia
Interact via surveys Interact via surveys and open ended and open ended questionsquestions
Q&AQ&A
Thank you for your time! I hope you learned Thank you for your time! I hope you learned something. If you have any questions I am something. If you have any questions I am on Facebook and linkedin, or you can on Facebook and linkedin, or you can email me at:email me at:
http://www.youtube.com/watch?v=g1zwMMBL4Do