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Media Selection. How to Select Media?. The important criteria to consider when selecting media are: 1. Target Audience : The media must be able to reach the decided target audience.
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How to Select Media? The important criteria to consider when selecting media are: 1. Target Audience: The media must be able to reach the decided target audience. 2. Frequency: The plan must be able to reach the T.A, a certain number of times (frequency) in order to really get the message across. The frequency objective of a campaign often depends on the nature of the product being advertised.
2. Frequency For example: A housewife will go to the market at a specified time of the month, periodically to buy soap. There are hundreds of soap brands, each saying ‘buy me’ and the housewife would have two options – She could either stick to her current brand of soap or try a new brand. So soap advertisers keep reminding the consumers of its presence with high regularity to always stay on top of their mind.
2. Frequency • On the other hand, for floating populations, we do not require such high reach. A floating population is a kind of market where once they buy the product, they will not be in the market for a long period of time. For example, refrigerators. A refrigerator is a onetime buy, someone who buys a fridge today will not need another one tomorrow – thus they move or ‘float’ out of the market. With such floating population you need less frequency. Ads for them have to be more information centric. Anybody interested in buying a fridge will pay attention to the ad.
Frequency according to Target Audience ‘Ad-itude’ • Passive • Active • A study was conducted on audience’s reactions towards advertisements. This study was called ‘Ad-itudes’. • The study can be depicted in the corresponding matrix which categorizes audience into four types: The Seekers, Reactors, Rejectors and Ignorers.
Frequency according to Target Audience ‘Ad-itude’ • Seekers: Seekers in advertising are those who are actively trying to find information on a certain product. A seeker in one category may ignore others. • For example: A seeker for shaving creams would be a rejector for fairness creams. • If a brand has many seekers it is a sign of good health. You don’t need high frequency in the case of seekers as they are looking forward to the advertising.
Frequency according to Target Audience ‘Ad-itude’ • Reactors: Reactors are not specifically looking for advertising but if an ad is shown to them often enough they will begin to pay attention. Thus higher frequency is needed to appeal to Reactors. • Rejectors: Someone who notices the advertising but rejects it. Eg: A health freak may notice a coca cola ad but will reject it. • Ignorers: Someone who completely ignores the brand and does not even take notice of it.
3.Competition: • Very often the competition also dictates, what stand must be taken. For example: Coke will have to advertise as much as Pepsi.
4.Nature of the category: • Reach and Frequency also get influenced by the nature of a product. Eg: Mobile advertising doesn’t need high frequency as there are many seekers. So a high interest category will require low frequency. However, a low interest category , such as bulbs, will require high frequency.
5.Your ‘Great Big Idea’: • A strong idea has the power to override all media theories. If the quality of your idea is great, then frequency is not much needed.
How to fix media budget? • Setting a media budget is a very difficult proposition and should not be attempted until the media planner has achieved a certain level of experience in the field.
The most common methods of setting a budget are: 1. Continue the previous year’s budget: Most marketing directors don’t know how to set a budget. Thus a very common practice is the thought process that “If it worked last year, it should work this year too”. 2. Look at A:S ratio – The A:S ratio stands for the advertising to sales ratio. For example, a brand would take 8% of last year’s sales and use it in advertising. However, today the way business has been done is changed completely due to venture capitalists coming in to the market and thus, they set their own ad budgets that have nothing to do with sales.
Contd… 3. Look at similar case studies: Case studies of companies who are in a similar situation can also be taken. This can even be across product categories. For example: When Max New York Life Insurance wanted to increase their budget from Rs. 20 cr. to Rs. 130 Cr, case study of Bingo chips was seen as they too had been fighting in a low interest market.
4. Mathematical Formula: • The mathematical method used is called the Jones Plot.
Contd… • The Jones Plot (above) is plotted by measuring the difference between Share of Voice (SOV) and Share of Market (SOM) in which SOV is taken on the Y axis and the SOM on the X axis. • Share of voice is the percentage share of a certain media’s GRP over total GRP.
Example: • Thus in the above example, A’s SOV would be 7.5% (i.e 50/700 X 100).
Contd… • Thus by plotting these data on the two axis ,an advertising intensiveness curve is generated. Trend line of this curve is studied which can be done easily on excel, to get a straight trend line. • After getting the trend line, click on the line and choose ‘get equation’ and one can find a regression equation that goes something like this: y= ax+b • By substituting the market share, one wants to achieve in this equation and the budget required can be calculated.
5.Econometric Modelling • To measure a brand, most people take sales as a measure of brand health. However, there are many variations on what is defined as brand health. For example, Bacardi measures brand health on the basis of international image and Electrolux would measure brand health based on ‘Brand Familiarity’.
In actuality there are a complex web of influencers that build a brand. Some of them are positive and some are negative. Mapping has been done in the econometric modeling method i.e, what influences what; and how much one influences the other.
Contd… • After mapping out all the influencers, strongest link that has the maximum impact on the brand, the allocated budget accordingly is tried to be understood. • For example: In a case study trying to find the influencers that affect the footfalls in a mall, it was found that the single greatest influencer was Diwali. • Thus, through these methods a budget can be allocated. It is best to use 4 or 5 methods before deciding what the budget should be.
How to allocate your budget in different media? • The next step after fixing the budget is to allocate it into various media. This is a very hard process due to the fact that different media have different forms of measuring readers/viewers, while in the case of outdoors, one can’t even calculate reach. Also in the case of internet, which method to be used to calculate reach? Is it done on the basis of page views or click-through’s, etc. • The simplest method for allocating media is using the media selection matrix.
A list of all the available media is made through which one can advertise. Then the media is graded on a score of 10 on different criteria – Reach, Frequency and Cost effectiveness are the most important but use of alterative measurements like creative possibilities, clutter, etc while making decision are also equally essential. • Allocation should be done sensibly on this matrix. For example, after consulting this matrix it may seem that internet is the most beneficial media for the brand, however, that doesn’t mean to put a huge chunk of our money in media as it doesn’t require so much investment.
Sometimes, if the result on the matrix is not satisfactory, one can also give weightages according to the importance of criteria. For example if the reach and creative possibilities are the most important criteria then high weightage can be given to them and multiplied by the allocated grades.
Define the role of media • For example: The role of TV is usually to create awareness. • The role of print is to show usage or information. • In the case of magi cubes, the Tvc was used to just raise awareness among consumers that the product existed on the market. Then ads were launched in print media like cookery magazines where recipes are given to show how magi cube could be used in Indian cooking.
Media Math: • 1 +1 = 3 • ½ + ½ DOES NOT EQUAL 1 • This rule of media basically says that while using multiple media, if we use the first and second medium well, then it’s as good as using 3 media • However if we do not use BOTH media optimally, then it’s not even as good as using 1 full medium.
