Competitive, Targeting and Landscapes...Oh My!

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Presented at TMKedu by Carolyn O'Leary on July 9, 2014.

This presentation tackles one of the very first questions we need to ask before developing a planning strategy, "who are we talking to?" It explores the best way to conduct a target analysis, from utilizing available research, to mining for insights, to identifying new audience opportunities. It also takes a look at the evolution of targeting in the digital age and how big data has changed the way we reach potential customers.

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Competitive, Targeting and Landscapes...Oh My!

  1. 1. July 9, 2014 COMPETITIVE, TARGET ANALYSIS & MEDIA LANDSCAPES Be Brave Be Inventive Defy Expectations
  2. 2. WHERE WE ARE IN THE PLANNING PROCESS 2 Kick off Meeting Brand Immersion Strategic Development Tech Infrastructure Development Develop Tactical Media PlansImplementation Measure, Analyze, and Optimize
  3. 3. PART ONE: COMPETITIVE What is competitive? Why is it important? Tools and Process Example 3
  4. 4. WHAT IS COMPETITIVE? 4
  5. 5. FROM A BRAND PERSPECTIVE A COMPETITIVE ANALYSIS IS AN HONEST ASSESSMENT OF WHEREWE STAND IN THE MARKETPLACE 5
  6. 6. WHY IS IT IMPORTANT? 6
  7. 7. PURPOSE BRANDS DO NOT OPERATE IN A VACUUM. A STRONG COMPETITIVE ANALYSIS PROVIDES KNOWLEDGE FOR PLANNING AND HELPS US (AND OUR CLIENTS) MAKE BETTER DECISIONS. 7
  8. 8. PURPOSE BECAUSEWE CAN’T ALWAYS BE THE BIGGEST...BUTWE CAN BE THE SMARTEST. 8
  9. 9. KNOWING THE COMPETITION CAN HELP BRANDS... IDENTIFY THEIR NICHE 9 ANTICIPATE THE MARKETPLACE STAY INNOVATIVE
  10. 10. OUR ROLE AT TMK OUR CLIENTS KNOW THEIR COMPETITORS. IT IS OUR JOB TO KNOW THE MEDIA MARKETPLACE. - WHAT IS OUR COMPETITION DOING? - WHAT DOES IT SAY ABOUT THEIR STRATEGY,TARGET AND APPROACH TO MEDIA? - HOW DOES IT COMPARE TO WHAT WE ARE DOING? - HOW CAN IT BETTER INFORM WHAT WE DO IN THE FUTURE? 10
  11. 11. TOOLS AND PROCESS 11
  12. 12. NAVIGATING THE LANDSCAPE THE MEDIA LANDSCAPE IS GROWING MORE COMPLEX BY THE DAY, SOWE NEED TO LOOK TO MULTIPLE SOURCES TO TRULY GET AN IDEA OFWHAT OUR COMPETITORS ARE DOING 12
  13. 13. TOOLS AND PROCESS 13
  14. 14. 14 STEP ONE: PREP WORK 22 FINALIZE COMPETITIVE SET • Enlist the client and make sure you are on the same page before pulling any data. • Identify core vs secondary competitors vs aspirational brands DETERMINE TIMING • Figure out how many years of data you need to view to identify trends • Calendar year vs recent data? • Is everything available in Kantar? OUTLINE THE KIND OF DATA THATWOULD BE USEFUL TO THE CLIENT • Level of Detail (basic spend data vs media properties) • Social Media • Search
  15. 15. 15 STEP TWO: PULL THE RAW DATA AND MAKE SURE IT IS RIGHT 22 STARTWITH KANTAR AND PULL ADDITIONAL DATA AS NECESSARY DO THE NUMBERS LOOK RIGHT? • Your own brand is a good starting point. • Don’t underestimate the power of common sense. • If you submitted numbers in the past, do they match what was pulled this time? • Troubleshoot if the data looks wrong. Are all the brands included? PROVIDE THE PROPER CONTEXT • % change YOY • SO$ and SOV • Determine any areas where data may be less accurate.
  16. 16. 16 STEP THREE: BUILD THE CHARTS 22 PRESENT THE DATA IN AN EASY TO FOLLOW WAY. OFTEN TIMES SIMPLE IS BEST. • Think about how you would explain the chart to the client. LOOKING GOOD IS HALF THE BATTLE • Pretty charts get client oohs and aahs. • Illustrate the data in a way that your client can grasp even without explanation. • Is everything properly labeled and sourced? • Are the chart components big enough that they are easily identified? CONSISTENCY IS BEST • Show data in similar charts for each brand or category • If share of media is a pie chart in one part of the deck, keep it consistent throughout. • Source, source, and source some more.
  17. 17. 17 STEP FOUR: ANALYZE THE DATA 22 MINING FOR INSIGHTS IS THE MOST IMPORTANT PART OF THE ANALYSIS. • Clients can read the numbers themselves. They rely on us to extract meaning and insights from the data. • If your left with questions about a brand’s activity, chances are your client will be too. Do a little more digging. START BROAD ANDWORKYOURWAY INTO MORE DETAILS • Category insights, trends and broad comparisons are a good way to start. • Individual detail by brand can come later. • Be sure to include a clear summary of insights at the end of the deck. ALWAYS TIE THE DATA BACK TOWHATWOULD BE MOST USEFUL TO THE CLIENTS (AND TOYOU IN PLANNING) • Constantly ask yourself what the data means and what kind of implications it could have for media decisions • Make sure the client understands how category trends affect what they are doing. Often times clients use this information as a tool for internal support.
  18. 18. 18 STEP FIVE: FILL IN THE BLANKS 22 THE TOOLS DON’T ALWAYS CAPTURE EVERYTHING • Kantar has limitations, especially in tracking heavy digital spend, events, content creation and bigger partnerships. • If the numbers really seem off, call in reinforcements • Try to identify gaps in the data and do additional research GOING THE EXTRA MILE • Do an audit of owned and social media assets (website, FB/Twitter/Instagram/YT/Pinterest) • Check the trades. Have your competitors done anything interesting lately that was picked up in the press? • Keep your eyes open, especially on media where you know the category frequents. • Rely on the sales community. Many have a strong grasp on what other brands in your category are doing.
  19. 19. EXAMPLE 19
  20. 20. COMPETITIVE LANDSCAPE REVIEW
  21. 21. 21 *Per Client Direction Plus Size Specific General Aspirational CONSIDERATION SET* ^ ^J Crew only looked at directionally ; not included in category spend analysis
  22. 22. 22 CONSTRAINTS TO CONSIDER Plus size specific product spending is not reported for general brands. Spend reflects all women’s specific and general spending for ASOS, H&M, Eileen Fisher, Nordstrom's, Macy’s, Kohl’s, Talbots, Chico’s, Forever21, and Old Navy Digital spending tends to be under represented - numbers should be taken directionally Social & mobile specific spending is not recorded in Kantar and therefore not reflected Desk Research & Industry News QUALITATIVE RESEARCH QUANTITATIVE RESEARCH METHODOLOGY
  23. 23. 23 • Lane Bryant falls in the middle of the category at $8.3M in spend, on par with non plus size specific brands such as Ann Taylor at $10.8M and Eileen Fisher at $6.9M • As a group, the 17 brands spent $392M in 2013 • The competitive spending landscape is dominated by Old Navy at $165M last year, making up 42% of category spend $165,906( $73,650( $42,440( $29,208( $23,204( $17,036( $13,837( $10,871( $8,308( $6,960( $3,649( $2,277( $1,069( $1,069( $637( $292( $92( $47( $0.00( $20,000.00( $40,000.00( $60,000.00( $80,000.00( $100,000.00( $120,000.00( $140,000.00( $160,000.00( $180,000.00( Old(Navy( M acys( Kohls( H&M (( Nordstrom ( W hite(House(Black(M arket( Chicos( Ann(Taylor(Lane(Bryant((Eileen(Fisher( Forever(21( Asos.com (( Catherine's(Talbots(Store( Avenue( Eloquii(( Torrid((Gw ynnie(Bee(( Dollars'(000)' Plus Size Brands General Brands FY 2013 TOTAL SPEND BY BRAND Source: Kantar
  24. 24. 24 •While nearly 50% of category spend falls into TV, 75% of this is driven by Old Navy •TV spend ranged from $139M for the highest spender (Old Navy) to $8-$9M for brands likes White House Black Market & Chico’s • Plus size specific brands showed no reported spend in TV • 96% of spending fell into Display, Search, or Magazine PLUS SIZE SPECIFIC VS GENERAL BRANDS: MEDIA MIX 48% 4% 1% 6% 19% 18% 4% Int Display Int Search Magazines Newspapers Outdoor Radio TV Media Mix - Category Overall Media Mix - Plus Size Brands Only 76% 11% 10% 1% 2% Magazines Outdoor 2% Radio 1% Int Display Int Search Source: Kantar
  25. 25. 25 • The 17 brands demonstrated similar trends across the board • Major spend spikes happen in March, September, and December, corresponding with Spring and Fall line launches, and Holiday pushes CATEGORY SEASONALITY $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Spring Fashion Fall Fashion Holiday Category Spend - Seasonality Source: Kantar
  26. 26. 26 Limited plus size focus For non plus size specific brands, promoting the plus size category offerings does not seem to be a focus in messaging/advertising. For plus size specific brands, spend is significantly lower than general brands. CATEGORY TRENDS TV for the big spenders While TV spend appears to make up a large bulk of the category spend, it doesn’t reflect the entire group- with primarily only the largest spenders investing in TV. Of the brands with less TV spend, we see an effort to align TV with other media and platforms, to engage users beyond the : 30s spot White House Black Market #wearwhatworks hashtag promoted on TV spots
  27. 27. 27 Shift to programmatic buying While digital spend is a smaller slice of the pie for many of the larger fashion brands, programmatic approaches are a common theme suggesting that display campaigns are a lower funnel tactic used to complement offline and social efforts Print in the forefront Despite the decreasing amount of time that consumers are spending with print, brands continue to prioritize print in their media mix CATEGORY TRENDS
  28. 28. 28 CATEGORY TREND: SOCIAL PLATFORMS ENGAGE Brands are engaging their users to sell a lifestyle rather than product as hero, utilizing social media for everything from branding to driving response. Programs run the gamut from blown out content creation platforms, to photo submission contests, to simply keeping a finger on the pulse of fashion trends through reblogs from other influencers. Asos Curve #Makemeacurvemodel: UK Model search on Instagram, 7,900 submissions Ann Taylor, “Smartest Thing She Ever Said”: Tumblr blog curated by artists & story editors; 25M impressions and almost 200K blog mentions
  29. 29. 29 Mobile experiences are not just for the younger demo. Many brands are expanding their mobile efforts beyond SMS to include beacon technology, integrated apps, user generated content, etc throughout the media plan. CATEGORY TRENDS: UNIVERSAL MOBILE Chico’s Mobile Programs using to beacon technology for personalized messages and engaging and personalized “Customer Closet” app Interactive digital signage also being introduced into retail stores, like Chico’s
  30. 30. 30 CATEGORY TRENDS: PROMOTIONAL Brands also feature promos, giveaways, discounts, or coupons to entice users to engage with the brand and take action both online and in store. Some brands are getting creative with how they deliver the promotions, using digital technology or blogger influence to reach their consumer. Eloquii Blogger Promotions: Promotional offers via Fashion bloggers Avenue SMS Program: Weekly promotional messages, 30% MOM growth in membership
  31. 31. 31 CATEGORY TRENDS: SHOPPABLE CONTENT Social content is no longer just for engagement; brands are using their social platforms to also push products via shoppable content. Video content, streamable fashion runway shows, and shoppable Pinterest boards are just some of the ways brands are letting their owned media work for them. Target has been experimenting with shoppable video series J. Crew launched a shoppable Pinterest board Burberry Spring shoppable runway show streamed live on Facebook Kate Spade Saturday e- shoppable store window
  32. 32. 32 Title Insertion Date: FP4C Cost: Circulation: MARKETPLACE LANDSCAPE SUMMARY • Category spend is dominated by larger, more general retail stores. General brands don’t show specific messaging for Plus Size offerings and plus size specific brands show limited spend • Only the top 6 spending brands are investing in TV, focusing on a mix of network and cable. The lowest TV spend of the competitive set is larger than Lane Bryant’s reported media spend in 2013 • Lane Bryant has the opportunity to be a leader in the Plus Size Market, but will need to choose media where we can make an impact in order to compete against the general women’s brands • Consider more targeted methods of TV buying (e.g. programmatic) that allow for a more focused and efficient TV presence, in order to break through the marketplace clutter • Magazines are still a category favorite, especially when looking at Plus Size specific brands- representing a large bulk of category spend • Lane Bryant has the opportunity to breakthrough by focusing on more efficient media where our target is spending the most time OBSERVATION IMPLICATION FOR LANE BRYANT
  33. 33. 33 Title Insertion Date: FP4C Cost: Circulation: • Despite the proportionately low digital spend for the category, owned and earned digital media programs are prevalent among the competitive set and appear to be the driving force for how brands are engaging with their consumers MARKETPLACE LANDSCAPE SUMMARY • Paid, owned and earned media must work cohesively to engage the Lane Bryant consumer and stand out from other women’s retailers. For the launch of Be Phenomenal, all media should work together to earn additional engagement • The category is not prioritizing digital- online spend only makes up 4% of total category spend • Lane Bryant can own the digital space and be a category leader in a space that’s less cluttered than other mediums OBSERVATION IMPLICATION FOR LANE BRYANT • Brands are using mobile as a stand alone tactic, but programs vary- ranging from traditional SMS programs to technologically advanced use of beacons for 1-to-1 messaging • Include mobile strategies as another consumer touchpoint for 360 engagement in the Spring
  34. 34. 34 Total Spend: $4.0M Top Spending Category: Magazines - $2.3M Peak Months: Feb-Apr, Aug-Oct # of Stores: 333 Key Takeaways: • In 2013 J.Crew spent most of their budget in print with titles such as Vogue, InStyle, Martha Stewart Weddings, and New York Times, hinting at a targeting strategy focused on sophisticated mid to upper class women with a focus on wedding planning. • In 2014 J.Crew is starting to shift their budgets to rely more heavily on digital and social spending, due to the insight that consumers who are engaged with the brand socially tend to spend twice as much. • J.Crew has a robust social strategy and utilizes various platforms to feature background stories about the collection, interviews with fashion influencers, event promotions, and product promotions. J. CREW FY 2013 SPEND Source: Kantar 1% 22% 57% 7% 13% Search Outdoor Newspapers Int Display Magazines
  35. 35. 35 Having found that their socially engaged customers spend 2x all others, as of 2014 J. Crew shifted to a heavy digital focus and utilizes eCommerce throughout social. Pinterest Catalogs J. Crew pins their entire catalogs onto Pinterest, linking directly to their product pages and inviting their Pinterest followers to call or email to have a personal stylist help them with their looks. #JCrewStyle The #JCrewOnFilm series posted on Youtube and their website strikes a balance between interesting content and product, which all linked out to the J. Crew product pages. Discovered The Discovered” page on jcrew.com is a curated collection of items inspired from pieces around the world. The page includes a summary of each item’s story with links to purchase directly. J. CREW - SHOPPABLE CONTENT
  36. 36. TARGETING & MEDIA LANDSCAPES 36
  37. 37. PART TWO:TARGETING AND MEDIA LANDSCAPES What is a target? Process Building and Discovering through Research Defining the Landscape Example 37
  38. 38. WHAT IS A TARGET? 38
  39. 39. WHAT DOES IT MEAN FOR MARKETERS? 39 The specific group of individuals to whom the advertising message is directed women women 18-34 current customer lookalikes new, younger, hipper, more fashion-forward women 18-34 who love dogs and have low credit scores dog lovers people who need an internet provider
  40. 40. STEPS TO UNDERSTANDING THE TARGET Gather available information from all relevant parties Outline key prospects based on brand research and identified brand attributes Create a target using psychographic statements & behaviors using qualitative and quantitative tools Deep dive into target datapoints to understand target and determine key media touchpoints from output data Refine and Test 1 2 3 4
  41. 41. START WITH THE CLIENT BRIEF 41 And ask lots of provocative questions during an immersion meeting... Do you know who is buying your product? Does it align with your idea of who should be buying your product? Is their untapped potential within you current audience? Have we captured all low hanging fruit? Are there other characteristics of your customers that present opportunities to expand the targeting pool? Does the brand/product appeal to any groups that aren’t currently aware? Do heavy users look different than light ones? Are some segments more important than others (to brand image? to revenue potential?) Are we missing opportunity because are target definition is too narrow? Qualitative Data: Focus Groups Trend Research Ethnographies Competitive Analysis Quantitative Data: Syndicated data Client Based Data Site Analytics Testing Audience Insights Pixel??!
  42. 42. NEXT BUILDYOUR TARGET... 42 When building your target, you should keep in mind a few factors: • Segmentation: Are there varying segments of consumers who could serve as a potential target? Do current customers look different than prospective? • Influencers: Who are the “alpha consumers” who will help spread the word or be most easily influenced by the advertising •Target Population: Is the population size of the target realistic given factors such as current sales and budget? • Demographic Qualifiers: Is it important to include an age, gender, or geographic qualifier? DEFINING A TARGET AUDIENCE Syndicated Studies (Quantitative) • Simmons • MRI •Monroe Mendelsohn (MMR) • Erdos & Morgan • ComScore/Fusion • Big Data
  43. 43. UNDERSTANDING THE DATA 43 1. Sample population size 2. Projected population size 3. Coverage (% reach of target audience) 4. Composition (how much of this audience is made up of our target) 5. Index (based off composition, comparison to general population) Regardless of the study, syndicated research output tends to have the same format and show the same data measurements Target audience Total population Tips: • Only use for directional purposes • Sort by index for quick data glance...but don’t forget to think about reach, especially when looking at media properties • If you forget what each line measures...remember, its all in the numbers!
  44. 44. BUILDING A TARGET ANALYSIS 44 One you have your target you can delve into the insights to better understand who your target audience is and how you should reach speak interact engage ...etc with them in your communications plan Media Deep Dives... to uncover what media channels and properties they consume to inform media landscapes & tactical planning Psychographics Deep Dive to get a deep 360degree perspective on who your target is, what the advertising y value, how they react to, to inform brand strategy Day in the Life combine media, demo, psychographic findings to understand target’s daily life and potential media touchpoints Basic Demo Overview to get a general synopsis of who your audience is and inform buying demos, geo-parameters, etc Target deep dives vary based on your starting point, objective of exercise and are not exclusive of each other
  45. 45. DON’T STOP WITH SIMMONS 45 Trending Tools (Qualitative) • Iconoculture • Mintel • eMarketer • Forrester Audience Insights Audience Insights can come from multiple sources beyond subscribed tools • Publisher target studies • VMM Insights • Google Trends
  46. 46. DEFININGYOUR LANDSCAPE 46 TV Video Mobile Social Newspaper OOH Content Digital Programmatic Video On Demand Radio Direct Mail
  47. 47. EXTRACTING MEDIA INSIGHTS 47 When looking to create a media landscape try to answer the following... TIME SPENT: Where is the target spending the most time? Which media is most relevant? How does that compare to the general population? ENGAGEMENT: How does she use each medium? What is her multitasking behavior? Are there certain times that she is more engaged? NEW MEDIA: How does social media come into play? Is she active on Facebook or just a passive user? How is she consuming content online? On her phone? PURCHASE BEHAVIOR: How does it all tie back to the purchase funnel? Where is she converting? Where is she making purchase decisions? Where is she getting information?
  48. 48. EXAMPLE 48
  49. 49. APPENDIX 49
  50. 50. KANTAR
  51. 51. COMSCORE
  52. 52. IMS
  53. 53. SYSOMOS
  54. 54. GOOGLE

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