Published on February 25th, 2014 | by Paul Morris0
MSc in Digital Marketing Week 5
Note: these notes are aimed as a memory mnemonic for my MSc in Digital Marketing
Gone in 30 seconds (in reference to TV ads)
How to not waste your media budget by John Scriven talk (ex Ehrenberg-Bass Research Institute; who refer to themselves as old fashioned scientists who search for predictable patterns in data and their implications)
Why media should matter to marketers = because approximately 75% of marketing expenditure!
Good Coke study on buying behaviour.
Advertising is vital to reach consumers and refresh memory structures for brands. i.e. creating mental availability for brands. You have to remind your buyers, particularly light buyers, that they do buy your brand (occasionally often)!
In a battle for attention your key weapons are engaging creative, good branding (who is the commercial messaging coming from?! i.e. brand recall) and effective placement and scheduling.
There is a systematic relationship between spend and market share. But this relationship is not linear. Larger brands spend more, but not proportionately so. The bigger the brand is the less its share of voice needs to be compared to its share of market. i.e. ad intensiveness curve.
3+ frequency (exposures) = general rule of thumb on showing ads to target audience. Essentially though John disagrees. John believes that to win the advertising war you should Plan for Reach i.e. get on TV. Once you buy a big reach media, you often don’t need the small targeted one.
My comment: All well and good if you are a BIG FMCG company but not for most companies with limited advertising budgets / budgets that do not go in to the £10’s millions.
How to measure / what really matters: Reach and cost per point of reach.
Branding is important to get the best response from ads that are seen. Media spend is wasted if the audience doesn’t know who is advertising.