Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Why being different still makes a difference - Magnetic Media

462 views

Published on

Magnetic released Why being different still makes a difference in May 2016, a new study which explores how advertisers can use brand equity to ensure sales success and future growth.

The work confirms that salience, or top-of-mind awareness, acts as a critical growth lever, but it also shows that there are risks involved for brands which only focus on salience. Ultimately it if all brands focus solely on salience, the marketing environment becomes akin to a busy bazaar where traders simply compete for attention by seeing who can shout the loudest. They may be able to get more attention in this way, but it ignores the opportunity to seduce the potential’s customer senses by having a meaningful conversation that helps the customer understand why a certain product meets their needs, what makes it more desirable than others and, of course, engage in a good old haggle over price.

Published in: Business
  • Login to see the comments

Why being different still makes a difference - Magnetic Media

  1. 1. Graham Page, EVP Head of Global Solutions
  2. 2. MULTIPLE AND CONFLICTING PERSPECTIVES ON WHAT THE MARKETING IMPERATIVE TO MAXIMISE GROWTH SHOULD BE
  3. 3. SALIENCE:top of mind awareness, the quality of standing out and grabbing attention
  4. 4. SALIENCE IS UNDENIABLY IMPORTANT
  5. 5. 0 100 200 Salience index of different brand types Source: Brandz Iconic Star Mainstream Generic Aspirational Limited Fighter Outsider Specialist
  6. 6. AUDIO VISUAL CHANNELS PLAY AN IMPORTANT PART IN DELIVERING SALIENCE TV OnlineVideo +2.41% +1.22% 0 %Upliftinmetricpostexposure +1.15% Magazines Source: Magnetic/Millward Brown 2015 Setting trends measure: Online video n=8, TV n=60, Mags n=16, Radio n=17, News n=17, Online Display n=54, OOH n=37, Cinema n=15. 88 UK studies.Impactper person reached.
  7. 7. THE POTENTIAL AND UNINTENDED CONSEQUENCE OF PURSUING SALIENCE ALONE
  8. 8. VALUABLE BRANDS HAVE FIVE KEY PROPERTIES Consumers feel an affinity for them Consumers feel they will performwell and meet theirneeds They are seen as different or unique in the category They are dynamicand set category trends They are top of mind to consumers Meaningful Difference Millward Brown Meaningfully Different Framework 2013 Salience
  9. 9. BEING MEANINGFULLY DIFFERENT MATTERS
  10. 10. 216 163 160165 123 153 Meaningful Difference Salience Brand perceptions among repeat & non repeat buyers Repeat buyer Non-repeater Brand buyers who go on to repeat purchase are more likely to perceive brands as meaningful and different, but salience makes little difference 1. CLOSER LINK BETWEEN MEANINGFUL DIFFERENCE AND REPEAT PURCHASE Source: Combined MB & Worldpanel study, actual purchase behaviour and attitudinal data
  11. 11. 2. SALIENCE FAILS TO PREDICT PRICE PREMIUM Source: PowerPurchase studies, 42 different brands
  12. 12. BUT MEANINGFUL DIFFERENCE DOES… 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 9.00 Low Meaningful Difference Medium Meaningful Difference High Meaningful Difference Brand-Driven Price-Driven AveragePricePaid Source: PowerPurchase studies, 42 different brands
  13. 13. 3. A ‘MEANINGLESS’ BRAND THAT INCREASES SALIENCY WILL GROW Source: 2012/3 compared to 2007/8 for 2,301 brands measured in BrandZ
  14. 14. BUT DRIVING SALIENCY FOR A MEANINGFULLY DIFFERENT BRAND WOULD DRIVE SALES EVEN MORE They have the foundation and competitive edge to maximise growth Source: 2012/3 compared to 2007/8 for 2,301 brands measured in BrandZ
  15. 15. DifferentMeaningful Salient Foundation Competitive edge Growth lever BRANDS NEED MEANINGFUL DIFFERENCE AS WELL AS SALIENCE
  16. 16. HOW DO WE HELP GUIDE BRANDS THROUGH THEIR MEDIA CHOICES?
  17. 17. MEANINGFUL:having a real importance or value to consumers that delivers against their functional and emotional needs
  18. 18. PERONI ACHIEVES AFFINITY BY DIALING UP HERITAGE 80 85 90 95 100 105 110 2008 2010 2012 2014 2015 Peroni - Affinity
  19. 19. BIG VISUAL IMPACT MEDIA ACHIEVE BRAND AFFINITY Cinema Magazines +3.62% +1.53% %Upliftinmetricpostexposure +1.89% OOH Source: Magnetic/Millward Brown 2015 Affinity Measure: OOH n=12, TV n=15, Newspapern=8, Online display=10, Radio n=8, Magazine n=3, Cinema n=9, Online video n=3
  20. 20. MANY HEALTHCARE & FINANCE BRANDS HAVE DRIVEN SUCCESS THROUGH FUNCTIONAL NEEDS 0 50 100 150 200 BUPA Nurofen Colgate Pampers Visa Meets Needs Index
  21. 21. INFORMATIVE MEDIA CONVEY THAT A PRODUCT OR SERVICE MEETS NEEDS Newspapers Magazines +1.32% +0.83% %Upliftinmetricpostexposure +1.08% TV Source: Magnetic/Millward Brown 2015 Setting trends measure: OOH n=13, TV n=19, Newspaper n=3, Online disp. n=19, Radio n=6, Magazine n=7, Cinema n=7, Online video n=4
  22. 22. DIFFERENTIATION: to achieve a level of separation from other brands in the category due to sense of uniqueness or dynamism
  23. 23. JAGERMEISTER STANDS OUT 0 50 100 150 200 Meaningful… Different… Salient… Jagermeister
  24. 24. TARGETED, PREMIUM CHANNELS CONTRIBUTE TO UNIQUENESS Cinema Radio +3.50% +0.71% %Upliftinmetricpostexposure +2.49% Magazines Magazine media has a diverse creative canvas that allows successful delivery of differentiation
  25. 25. AUDI STAND APART THROUGH LEADERSHIP CREDENTIALS 0 20 40 60 80 100 120 140 160 180 2014 2015 2016 Audi - Difference index
  26. 26. SPECIALIST CHANNELS ACHIEVE DYNAMISM Cinema Radio +2.86% +0.83% %Upliftinmetricpostexposure +1.45% Magazines Specialist knowledge of magazine editors and their trusted voice on new trends means they successfully deliver differentiation
  27. 27. Salient MAGAZINES UNIQUELY IMPACT CONSUMERS STRONGLY ACROSS ALL FIVE OF THE KEY MDF METRICS NewspapersMagazines TV Online Display Radio OOH Cinema Online Video Media ranking by metric (top 3 shown) Source: Magnetic/Millward Brown 2015 See additional slides for samples of individual metrics Meaningful Difference Salience Meets Needs Brand affinity Unique Sets Trends 123 3 2 1 3 2 1 2 3 1 1 2 3
  28. 28. A MEANINGFULLY DIFFERENT IMPACT affinity meet their needs unique dynamic top of mind WE CREATED A SINGLE METRIC WHICH AGGREGATES CHANNEL PERFORMANCE ACROSS ALL FIVE METRICS. WE REFER TO THIS AS MEANINGFULLY DIFFERENT IMPACT
  29. 29. MEANINGFULLY DIFFERENT IMPACT Magazines and Cinema excel at helping brands deliver a meaningfully different impact for consumers TV Cinema +1.77% +0.89% %Upliftinmetricpostexposure +1.59% Magazines Source: Magnetic/Millward Brown 2015 MDI Measure: Magazines n=22, TV = 83, Newspapersn=32, Online Display n=68, Radio n=29, OOH n=59, Cinema n=28, Online video n=9
  30. 30. COST PER 1% MDI CONTRIBUTION Magazines have the lowest overall cost to deliver 1% of MDI NewspapersMagazines TV Online Display Radio OOH Cinema £0.55m £1.62m £3.32m £2.64m £1.45m £3.98m £3.99m Source: Magnetic/Millward Brown 2015 MDI Measure: Magazines n=22, TV = 83, Newspapers n=32, Online Display n=68, Radio n=29, OOH n=59, Cinema n=28, Online video n=9 *Low base size
  31. 31. CONCLUSION > SALIENCE IS UNDENIABLY IMPORTANT AS A GROWTH LEVER > MAGAZINE MEDIA IS A CONSISTENT ALL ROUNDER IN DELIVERING BRAND EQUITY > MEANINGFUL DIFFERENCE IS A POWERFUL LONG-TERM BRAND DRIVER > MAGAZINES ARE THE MOST COST-EFFICIENT CHANNEL IN THE MIX, AND PARTICULARLY STRONG AT DRIVING DIFFERENTIATION FOR A BRAND

×