An Overview of Mass Market Advertising

Transcription

1 An Overview of Mass Market Advertising Presented by T. Graham Morris Vice President Newcomer, Morris & Young, Inc.

2 A rack of letterpress tiles.

3 Invaluable Lessons Strive for Accuracy Know Your Employer s Business & Expectations

4 Invaluable Lessons Strive for Accuracy Know Your Employer s Business & Expectations Translates to: Know Your Client s Business & Expectations!

5 I want to Advertise!

6 What is Advertising?

7 What is Advertising? Sending a Message Through a Medium or Various Media.

8

9 TV Broadcast, Cable, Streaming Newspaper & Magazine Print, Digital Signs Billboards: Static, Tri-Vision, Digital, Transit (Mobile & Stationary) Radio AM/FM, Satellite Direct Mail Mass Market, Household, Custom/Name Internet Online Banners, Rich Media, Apps, Social (PC, SmartPhone, Tablet)

10 Why & How Do I Want To Advertise?

11 Step 1: Determine Objective(s)

12 Step 1: Determine Objective(s) Introduce New Service/Product Create Awareness Build Traffic/Direct Response Procure or Maintain Market Share Increase Sales

13 Step 2: Define Target Audience

14 Step 2: Define Target Audience Core Demographics: Gender, Age, HHI, Lifestyle (Buyer & Buying Influencer) Geographic: Local, Regional, State, Country, Global

15 Step 2: Define Target Audience Core Demographics: Gender, Age, HHI, Lifestyle (Buyer & Buying Influencer) Geographic: Local, Regional, State, Country, Global Quik-Bullet: The greater potential in new sales will actually stem from your existing customer base.

16 Step 3: Create Message

17 Step 3: Create Message Does it fulfill objective? Is it directed to the Target Audience?

18 Step 4: Select Media Options

19 Step 4: Select Media Options Does it reach Target Audience?

20 Step 4: Select Media Options Does it reach Target Audience? Example: TV Audience influenced by Networks, Programming, Dayparts, Delivery Mode

21 Media Trends 54% of American Consumers are on more than one content platform (desktop, smartphone, tablet) up 10% from 2012 to 2013 In September, 2013, Google stopped providing data on search queries to website owners. Gone are the days of mediocre content & competitive keywords. SEO (Search Engine Optimization) is now less about technicalities and more about good content.

22 Media Trends For Content Marketing, Business-to-Consumer (B2C) Marketers Rely On: Social Media 88% Articles on Website 78% enewsletters 76% Blogs 72% Videos 72% In-Person Events 65% Articles on Other Sites 61% Mobile Content 46% Microsites 43%

23 Step 5: Evaluate Timing

24 Step 5: Evaluate Timing Acknowledge Consumer Behavior Trends

25 Step 5: Evaluate Timing Acknowledge Consumer Behavior Trends Example: Deposit Account Openings for a Bank

26 Step 5: Evaluate Timing Acknowledge Consumer Behavior Trends Example: Deposit Account Openings for a Bank

27 Quik-Bullet: Remember that your target audience has to be effectively reached a minimum of 3.6 times with your message within a one- to twoweek period

28 Quik-Bullet: Remember that your target audience has to be effectively reached a minimum of 3.6 times with your message within a one- to twoweek period Following one exposure of an ad message, top-of-mind awareness fades after first half-day. After four exposures within two weeks, awareness falls to lowest plateau within 7 days.

29 Quik-Bullet: Remember that your target audience has to be effectively reached a minimum of 3.6 times with your message within a one- to twoweek period Following one exposure of an ad message, top-of-mind awareness fades after first half-day. After four exposures within two weeks, awareness falls to lowest plateau within 7 days. Research shows that pulsing media flights build top-of-mind awareness over time more effectively than steady or erratic exposure.

30 U.S. Consumer Trends 97% of Americans watch TV with 72% of those watching via cable and 33% watching other devices. Almost half (47%) of U.S. consumers spend up to two hours each week looking for coupons & deals. QR Code users are 70% Male, 30% Female, and 75% of users are above age 25.

31 Consumer Trends Facebook Teenage members have declined by 25% in past 3 years. Adults have increased 33%, yr-olds increased by 41%, and adults 55+ increased 80%. Meanwhile, teens have gravitated to Snapchat, Twitter & Instagram (acquired by Facebook). (USA Today) 75% of engagement on a Facebook post occurs within the first five hours. It takes only 30 minutes for a post to reach 50% of its global reach, and 75% of your post s audience sees your post in less than 2 hours. (wisemetrics.com)

32 U.S. Consumer Trends Media Advertising Trust Newspaper & Magazine Ads 63% & 62% TV Ads 61% Radio Ads 58% Billboards 55% (mashable.com)

33 U.S. Consumer Trends Media Advertising Trust Internet Search Ads 44% Online Video 44% Social 39% Mobile 35% Banner 33% (mashable.com)

34 U.S. Consumer Trends Media Decision Driver At the top, 64% of respondents identify TV as the primary action driver of awareness, and 39% of purchase. In the Auto category, TV led at 70% with awareness, 43% for purchase. (mediapost.com, Futures Co.) Those under age 30 are increasingly becoming more difficult to reach on TV; hence, increased digital efforts.

35 U.S. Consumer Trends Favored Medium 42% of Americans say that the Internet is the most essential medium, followed by TV at 37%. Age Eliminate TV Eliminate Internet % 27% % 36% % 43% % 56% % 60% % 75% (Arbitron & Edison Research)

36 Step 6: Establish Budget

37 Step 6: Establish Budget Typical Level = 2% to 4% of Gross Annual Revenue (Can be higher for start-up business based on projected gross sales) For Retailers, Based on GMP (Gross Margin of Profit) 20% GMP = 1.4% to 50% GMP = 7%

38 Enhancing Your Exposure Exponentially by Extending Your Budget

39 Budget Extensions: Shared Advertising for Common Purpose Manufacturers or Group Co-op Funding Event Marketing

40 Event Marketing Title Sponsorship Is Most Valuable for Broader Audience Primary Sponsorship for Activity within Event Can Target Narrower Audience

41 Event Marketing Evaluate All Aspects Can it meet one or more of my advertising objectives? Will it target the core demo of my audience (or will my core be included)?

42 Event Marketing Evaluate All Aspects Can it meet one or more of my advertising objectives? Will it target the core demo of my audience (or will my core be included)? Does the event align with my business s perceived image?

43 Event Marketing Evaluate All Aspects Can it meet one or more of my advertising objectives? Will it target the core demo of my audience (or will my core be included)? Does the event align with my business s perceived image? Is the timing of the event advantageous for me? Will the cost be in line with my budget for that period of time?

44 Event Marketing Following Positive Evaluations You become a sponsor. Now is not the time to sit back and put the event advertising on auto-pilot.

45 Event Marketing Enhance promotion with your own efforts: Social Media, Customer eblasts, Specialty/Souvenir Products, Point-of-Purchase (POP) Displays, Dual-Branding in your own ads, even a mini-event within the main event.

46 Step 7: Strategy Know Where You Are Assess Market Share Leader, Major Player, Minor Player, Startup

47 Step 7: Strategy Know Where You Are Assess Market Share Leader, Major Player, Minor Player, Startup Evaluate Competition Strengths & Weaknesses Recognize Your Strengths & Weaknesses

48 Step 7: Strategy Know Where You Are Assess Market Share Leader, Major Player, Minor Player, Startup Evaluate Competition Strengths & Weaknesses Recognize Your Strengths & Weaknesses Be Aware of Consumer Behavior Trends

49 Strategy Involves Positioning Rise Above the Clutter

50 Strategy Involves Positioning Rise Above the Clutter Must Touch Base with Reality Reality = Perception in Prospect s Mind Perceived needs can be different from actual needs.

51 Positioning is not what you do to a product or service. Positioning is what you do to the mind of the prospect.

52 Positioning Ladder = Coping Mechanism for Consumers Easiest way is to be first, occupying first rung on the ladder. Find Your Niche

53 Positioning Smaller may be better. Look for a smaller target that you can own exclusively, rather than trying to battle against a stronger position. Go around, under, or over but not head-to-head.

54 Positioning First brand into the brain, on average, gets twice the long-term market share of the no. 2 brand, and twice again as much as the no. 3 brand. Don t know your niche? ask your customers!

55 Positioning Climbing the ladder for your posi5oning = reposi5oning of the compe5tors

56 Advertising Moral: Out of mind, out of business!