Modern Media Planning for Modern Advertisers
Media planning is something of an art. Though the practice has evolved along with the multitude of media types, a solid strategy is always at the core of a great media plan. Starting with well-defined objectives, planners delve into the tenets of their trade with their own formulas around reach and frequency and the right media mix, working to achieve an ever-more-optimal media buy. Measure, analyze, optimize, repeat. These are the makings of modern media success.
If you're a planner, you already know this. You have your way, your processes and templates. Here at Pinsight we just want to remind you to always balance your buys, because media consumption is ever-changing. Consumption should help determine how you allocate media budget for any campaign. Read on to learn why at least 25 percent of your buy should be based in mobile media.
When you buy mobile from Pinsight, we work with you to define your best audience.
Serving ads only to that Fluid Audience™ means you can achieve more efficient and effective ad buys. A well-targeted ad looks and feels less like advertising and more like a convenient service. John Wanamaker, a department store owner in the last 1800s, said, "Half the money I spend on advertising is wasted; the trouble is, I don't know which half." Thankfully, our analytics solve that problem at Pinsight!
We average nearly 3 hours a day (not talking) on our smartphones.
According to eMarketer, 2015 saw non-voice usage of smartphones reach 2 hours and 54 minutes per day, on average. How does Pinsight get to know these consumers so we can target them? We check our phones 150 times per day on average, making purchases, using apps, getting directions, making reservations, even reloading spending cards. Each of these activities is a glimpse into the personal life of each consumer. At Pinsight, our relationship with the customer begins in the store when they buy their phone and it extends into every aspect of their mobile usage. We don't track individuals, but instead we obfuscate user data from activity and group customers by what they do, what they love and what they buy. We call these Fluid Audiences™ because they are ever-changing. We have the ability to optimize them on the fly to suit your brand and campaign goals.
171.5 million Americans own a smartphone.
Statistics from Nielsen and Pew Research estimate that anywhere from 67-71 percent of Americans own a smartphone and they are using it to consume just as much content as they do on desktop devices, with one key difference: mobile is much more personal than any other channel. For many Americans, the smartphone now is their primary computer.
We use our phones in two primarily personal ways: the first is obvious - mobile is a two-way channel that allows you to tailor your content. You literally only see the content you go looking for by way of a browser or app. It's the most personal media channel available. The second personal way we use our phones is the implied privacy of using a device screen that is exclusive to you. Your search history won't show up on a conference room screen while you're presenting. And think about buying holiday gifts - maybe even as you're standing in store - or to occasionally read that link your friend sent that's definitely NSFW. Additionally, wherever your phone is, it's sending a signal that identifies your location - a valuable piece of information that can lead to even more targeted ads as well as closing the loop on attribution.
How do you harness the power of this two-way channel? To start, balance your buy by including a line item for mobile media of at least 25 percent, because that is the share of consumption for the majority of consumers (and actually, most of the desired consumers are now spending more time with mobile than with TV). Media buyers are now quite adept at seeking out the very best time and place to advertise: "moments." Brands want to be able to locate and identify THEIR customers – the ones who are primed to buy from them right now. Modern media planning requires a focus on behavioral targeting. We're not talking about zip code segments, we're talking first-party data and actual observed customer behavior. Get beyond GRPs! Your brand's need is personal.
5 steps to a kick*** media plan:
- A quarter of your campaign should be mobile media. Reduce your budget in areas that are declining in consumption, including TV and radio. Oh yes - and desktop web.
- State a goal and work towards achieving it, whether it's getting customers to redeem a coupon, complete a shopping cart purchase, or like you on Facebook. You can't succeed if you don't have a way to measure success, which means you should make sure your goal can be measured.
- Target a unique Fluid Audience™. Right message + right place + right time = advertising that doesn't feel like advertising. The more specific you can be, the more each impression will count. The CPM for a targeted campaign will be higher than one that's non-targeted, but you'll also buy fewer ads and see better returns, which means a more efficient buy. At Pinsight we can create a custom audience on request.
- Get as close to the data source as possible. Our customer data is first-party, meaning that it's been verified by a real person in a retail store. Better than just demographics, we have the ability to observe actual customer behavior on-device, which allows us to accurately place them in a Fluid Audience.
- Learn from post-campaign analytics. ROI and attribution? You won't get those when you're buying television and radio. Ask about advanced campaign insights. Pinsight has as much, if not more analytics to share than the other media channels you've been spending in. It's an easy win for your next campaign: shift your dollars to mobile media.