How to Develop aMarketing Strategy           Danielle Goodrich
Define MarketingMarketing: is theentire process bywhich a market isidentified, developedand served.
Strategy  Strategy works on the target consumer’s mind  associating the product with benefits of value to  the target cons...
Essential Building BlocksDefine the marketing objectives by understanding the business and business goals. Targeting Geogr...
TargetingIdentify theTargetAudience/DemographicWho spends the most or generates themost profit?How would you describe this...
Define Market SegmentsAlmost every brand has multipleconsumer segments they wish to targetNike-could target every one who ...
Pareto Priciple80/20 RuleIn every company aminority of theircustomers representa majority of theirrevenue20-25% of yourcus...
TargetingDemographics (Qualitative): Age, Gender,HHI, EducationPsychographics (Quantitative): Attitudes,Values, Preference...
ResearchThe answers to these questions comefrom market research which could be assimple as asking the client, going online...
Charlotte Motor Speedway ex.
Not All Market’s Are Created Equal Demographics within target markets may vary Therefore if this data is available in all ...
How to select themarketing geography and identify target markets
Target MarketsMarket Potential AnalysisDetermine Which Markets/Regions will generatethe most profit at the lowest costUse ...
Distributing BudgetPrimary, Secondary, Tertiary MarketsBudget Distributed AccordinglyDetermining the BudgetClient provides...
Target Audience Media Usage
Consumer Purchase Funnel 100%    90%               19%                                         26%    80%                 ...
Media Usage ResourcesNielsen, Arbitron, MRI, Radiolocator,SRDS, OAAA, TVB, IAB, Quantcast,Mediacenteronline.com, Adage,Med...
Timing/SeasonalityBranding                              350                                                               ...
Ticket or Sales Analysis
Sometimes Budget Effects TimingFor a brand strategy if a client can notafford to be on annually, determine flightweeks and...
Flowchart                                                                                                      TOTAL      ...
Media Buying 101
Terms to know   CPM (Cost Per Thousand) – cost to reach 1,000 peopleFormula: cost of 1 ad x 1000/circulation   CPP (Cost P...
Mediabuyerplanner.comNews about interactive, TV, radio, ooh,printthe growth in online video ad spending will surge past TV...
Social Media NewsThe past 4 years was about social listening. Thepast two were about social presence, next issocial advert...
Partnerships, Promotions &        Social MediaLook to partner with    Develop creativeCVB, tourist            outside the ...
Q&AThank you for your time! I hope you learned something. If you have any questions I am on Facebook and linkedin, or you ...
The Art of Media Planning, Buying & Strategy
The Art of Media Planning, Buying & Strategy
The Art of Media Planning, Buying & Strategy
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The Art of Media Planning, Buying & Strategy

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There are a lot of creative shops and agencies that market themselves as able to buy and plan media schedules for their clients. However, very few are actually trained and aware of all the intricacies and tactics required for the implementation and tracking of a successful media plan. In the current media landscape, there are hundreds of options of how to spend you or your clients advertising dollars. This presentation will discuss ways to compare media cross platforms using strategic methods that will enable you to recommend the best solution to your clients.

About the presenter:
Danielle Goodrich is a passionate and strategic minded marketing person who has held positions as Director of Marketing at Barter Theatre, Media Buyer at The Tombras Group and an account manager at Bonten Media. She is a 40 Under 40 recipient and an ADDY and Pinnacle award winning director.

Published in: Business

The Art of Media Planning, Buying & Strategy

  1. 1. How to Develop aMarketing Strategy Danielle Goodrich
  2. 2. Define MarketingMarketing: is theentire process bywhich a market isidentified, developedand served.
  3. 3. Strategy Strategy works on the target consumer’s mind associating the product with benefits of value to the target consumer. It is often confused with tactics. Strategy answers the question “Why buy?” Tactics answer the question “Why buy now?” A tactic enhances the strategy and uses a limited duration event, offer or incentive to inspire a consumer to act now.Strategy is long term. Tactics are short term.
  4. 4. Essential Building BlocksDefine the marketing objectives by understanding the business and business goals. Targeting Geography Target Audience Media Usage Seasonality-Timing Benefits Sought Competitive Perception Positioning Measure-Baseline Study
  5. 5. TargetingIdentify theTargetAudience/DemographicWho spends the most or generates themost profit?How would you describe this person?Who are the heavy users and how canyou find more people like that?
  6. 6. Define Market SegmentsAlmost every brand has multipleconsumer segments they wish to targetNike-could target every one who has feetThat is too broad for marketing purposesNike has to identify specific marketsegmentsSuch as professional athletes, weekendwalkers, teenagers
  7. 7. Pareto Priciple80/20 RuleIn every company aminority of theircustomers representa majority of theirrevenue20-25% of yourcustomers account for70-80% of your totalrevenue
  8. 8. TargetingDemographics (Qualitative): Age, Gender,HHI, EducationPsychographics (Quantitative): Attitudes,Values, Preferences, Behaviors, LifestylesGeneration Segments: Baby Boomers,Generation Jones, Generation X,Generation Y/Gen Next/Millenials
  9. 9. ResearchThe answers to these questions comefrom market research which could be assimple as asking the client, going onlineand googling, asking a dozen shoppers oras complex as a thousand telephoneinterviewsScarborough, MRI, NRS Media,Quantcast, Citydata, U.S. Census
  10. 10. Charlotte Motor Speedway ex.
  11. 11. Not All Market’s Are Created Equal Demographics within target markets may vary Therefore if this data is available in all of your markets, make sure they are consistent Or make different target audiences for each market
  12. 12. How to select themarketing geography and identify target markets
  13. 13. Target MarketsMarket Potential AnalysisDetermine Which Markets/Regions will generatethe most profit at the lowest costUse Traditional Media CPP (SQAD) against salesin each market to determine whether a traditionalmedia spend is cost effectiveDetermine Growth Market Potential
  14. 14. Distributing BudgetPrimary, Secondary, Tertiary MarketsBudget Distributed AccordinglyDetermining the BudgetClient provides, or agencyrecommendation10-20% of potential profit/sales
  15. 15. Target Audience Media Usage
  16. 16. Consumer Purchase Funnel 100% 90% 19% 26% 80% 6% 41% 45% 49% 6% 59% 70% 3% 6% 7% 60% 5% 19% 4% 3% 50% 17% 4% 4% 3% 3% 40% 12% 11% 4% 11% 3% 30% 12% 20% 44% 40% 35% 34% 30% 10% 22% 0% Awar eness I nt er est Consider Pur chase Want t o Pur chase Visit St or e/ Websit e Mak e Pur chaseTel ev i si on I nt er net New spaper Magazi ne Radi o Emai l Out door Ot her No Medi a I nf l uence
  17. 17. Media Usage ResourcesNielsen, Arbitron, MRI, Radiolocator,SRDS, OAAA, TVB, IAB, Quantcast,Mediacenteronline.com, Adage,Mediaweek, American AdvertisingFederation
  18. 18. Timing/SeasonalityBranding 350 Brand Equity 300 250 Customers 200 Customers 150 100 50 0vs. 0 3 6 9 Months 12 15 18 Promotions 140 Today Customers 120 100Promotions/Events 80 60 Customers 40 20 0 0 3 6 9 12 15 18 Months
  19. 19. Ticket or Sales Analysis
  20. 20. Sometimes Budget Effects TimingFor a brand strategy if a client can notafford to be on annually, determine flightweeks and dark periodsLook at slower periods of salesA spike is easier to inflate than a valley
  21. 21. Flowchart TOTAL TOTAL 8/3/09 8/10/09 8/17/09 8/24/09 8/31/09 9/7/09 9/14/09 9/21/09 9/28/09 10/5/09 10/12/09 GRPs COSTLOCAL CAMPAIGNONLINE (Charlotte.com, WSOCTV.com, WBTV.com) $30,000.00GEO-TARGETED CAMPAIGNONLINE (Facebook, Nascar Scene, Jayski, Media General, Nascar.com, thatsracin.com) $40,000.00Social Media/Alternative Media/Guerilla $25,000.00REGIONAL ADVERTISINGOUTDOOR: Charlotte $80,000.00Radio: John Boy & Billy $20,000.00TV: Regional Cable Sports Networks $7,500.00SPEED Channel TRADE $3,750.00National Spots via NASCARPRINT ADVERTISINGNewspaper (TBD based on Speedway Charlotte Observer ageement) $25,000.00College Papers $7,500.00Direct Mail $72,000.00LOCAL MEDIA FOCUSTIER 1 - Primary Market: Highest Market PotentialTV INDEX CPPTimeWarner-Cable $25,000.00TimeWarner-TRADE $1,500.00Charlotte 37 $137.00 50 50 50 100 100 100 100 50 600 $82,200.00RADIOCharlotte 22 $78.00 50 50 50 100 100 100 100 50 600 $46,800.00TIER 2 - Secondary Market: High Market PotentialTVTimeWarner-Cable $10,035.67Greensboro-High Point-Winston Salem, NC 44 $60.00 50 50 50 100 100 100 100 50 600 $36,000.00RADIOGreensboro-High Point-Winston Salem, NC 42 $55.00 50 50 50 75 75 75 75 50 500 $27,500.00TIER 3 - Tertiary Market: Average Market PotentialTVCharter-Cable $10,625.00Greenville-Spartanburg-Asheville 110 $55.00 50 50 50 75 75 75 75 50 500 $27,500.00TimeWarner-Cable $10,785.56Raleigh-Durham, NC 117 $150.00 $9,916.66RADIOGreenville-Spartanburg 62 $45.00 50 50 50 50 50 50 50 50 400 $18,000.00Asheville 50 $29.00 50 50 50 50 50 50 50 50 400 $11,600.00Raleigh-Durham, NC 83 $101.00 50 50 50 50 50 50 50 50 400 $40,400.00 TOTAL COST $668,612.89
  22. 22. Media Buying 101
  23. 23. Terms to know CPM (Cost Per Thousand) – cost to reach 1,000 peopleFormula: cost of 1 ad x 1000/circulation CPP (Cost Per Point) – the cost to reach 1% of the HH in a given market DMA (Designated Marketing Area) – Nielsen term Rating (estimate of audience expressed as 1%) GRP -the sum of rating points in a plan (reach x frequency = GRP) Reach – the unduplicated percent of an audience exposed to a message Frequency- the number of times each audience member was exposed to a message ROI – return on investment (net profit – cost of advertising) x 100 Impression – number of times an ad was displayed http://blueonionmedia.com/glossary.php
  24. 24. Mediabuyerplanner.comNews about interactive, TV, radio, ooh,printthe growth in online video ad spending will surge past TV growth through2016. It will surge by 54.7% this year, and slow to 18.9% in 2016; but thatwill far exceed TV’s 6.8% growth this year and 4.5% in 2016. But as itpredicted in January, TV will still exceed the online ad spend in 2016 (albeitby a narrowing gap).TV and online video views will be counted togetherForty-five percent change the channel during political news coverage.Thirty-nine percent change the channel as soon as they see a politicaladvertisement.Twenty percent are more likely to watch programs online, and 19% aremore likely to record programs they want to watch to avoid commercials.
  25. 25. Social Media NewsThe past 4 years was about social listening. Thepast two were about social presence, next issocial advertising and later social commerce.What are men interested in soccer talkingabout? Social posts and ads.Pinterests contests. Pinterest shoppers are 10xmore likely to make a purchase than visitorsreferred to from other networks. Check out AMC Theatre, British MidlandInternational and HuHot
  26. 26. Partnerships, Promotions & Social MediaLook to partner with Develop creativeCVB, tourist outside the boxattractions, hotels & promotionsrestaurants Have a personPRT, Behavioral, dedicated to socialKeyword online mediaadvertising Interact via surveysAlign with a good and open endedcause questions
  27. 27. Q&AThank you for your time! I hope you learned something. If you have any questions I am on Facebook and linkedin, or you can email me at:daniellegoodrich75@yahoo.comhttp://www.youtube.com/watch?v=g1zwMMBL4D
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