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.

Economist - Final

525 views

Published on

  • Be the first to comment

  • Be the first to like this

Economist - Final

  1. 1. Created by you, for you.
  2. 2. Alessia Arcuri Bartlomiej Birgiel Lina Adade Niccolo Campa Shandia Vythilingum W1512214 W1486165 W1499410 W1496029 W1478506 Digital & Direct Marketing | BMKT607 30/11/16
  3. 3. Index 1 | Client Overview 2 | Competitors 3 | Our Challenge 4 | Target Audience 5 | Creative Idea 6 | Social Media Campaign 7 | Testing, Time and Budget 8 | Metrics 9 | Database 10| Mandatories
  4. 4. Client Overview Brand’s Values 1843 2016 “We provide our readers (student, corporate and academicians) with short and straightforward articles to smart up their information consumption” (Garber, 2011). Journalistic Freedom Global Perspective Quality Information
  5. 5. Competitors Newsweek The Time The Wall Street JournalThe Financial Times
  6. 6. Marketing & Database Objectives Acquisition: To raise the percentage of subscribers from 29% to 40% by the end of 2017. Retention: To retain 40% of existing subscribers by December 2017. Database: To retain 40% of existing male subscribers by December 2017 To increase the rate of female loyal subscribers by 40% by December 2017 To increase the rate of customer lifetime value by 10% by December 2017
  7. 7. The Current Situation More Male Oriented: 13% of readers are women (Nieman Lab, 2016) Businessmen & Well educated average age - 47 (WSJ, 2009) Associated perceptions Serious’ (WSJ, 2009), ‘Moderate, quirky and unconventional’ (Time Dorks, 2016). 69% of young people in 2014 had no feelings towards the Economist (Statista, 2016)
  8. 8. Businessmen, Average age - 47 (WSJ, 2009) Characteristics Wealthy (WSJ, 2009) Well educated Sophisticated and affluent Tech-savvy ‘Globally curious’ (IDM, 2016) Ethical (IDM, 2016) Professionally minded Most likely reads ‘Global, political, social, economic and business news’ (Time Dorks, 2016) Issues that influence and shape our world (IDM, 2016) Banter, debates, expertise, risk, crisis and economy (IDM, 2016) The Current Target Audience
  9. 9. Females: The Wanted Target Audience Women aged 21-29 Characteristics University students Financial aid - Student Finance Graduate jobs with a steady income Tech-savvy (The Guardian, 2015) Keen to learn new things Most likely reads Human topics (IDM, 2016) Narrative hooks (IDM, 2016) Advertisements (INMA, 2013) Business, family, social development, research, seeking connections and ensuring intimacy (IDM, 2016)
  10. 10. The Economist is currently perceived as more men oriented Aim of our communication strategy - | Redirect The Economist towards business women; - | Increase female readership; - | Attract more readers amongst the younger generation aged 21-29; - | Build more loyal relationships; - | Create strong CLTV; - | Integration and implementation of unisex topics . Why Now?
  11. 11. Slogan
  12. 12. Creative Idea Stands Pop-Up Store Social Media Content
  13. 13. University Stands
  14. 14. Subscription Form & Email Template
  15. 15. Pop-Up Shop Partnerships
  16. 16. Personalised Gadgets
  17. 17. Advert
  18. 18. Advert on Social Media “ Created by you for you. Personalise your news Today. Subscribe Now! ”
  19. 19. Social Media Campaign
  20. 20. Online Subscription Form
  21. 21. Social Media Campaign Demographic Age 20 - 29 Gender Females - Males Education Level Degree, Master, PHD Occupation Students, Academicians, Economics, Finance, Management, HR, Marketing Geographic Country The UK City London Psychographic / Interests Pages The Economist, The Telegraph, The New York Times, Forbes, Business Insider, BBC News, Bloomberg, Financial Times, Tech Insider, Entrepreneur, Goldman Sachs, HSBC, Morgan Stanley, Deutsche Bank Celebrities Richard Branson, Robert Kiyosaki, Peter Sage, Tai Lopez, Keith Weed, T Harv Eker Books The Little Prince, The Fountainhead, Atlas Shrugged, The Secret, The Art of War, Rich Dad Poor Dad, The Black Swan Targeting
  22. 22. Customer Journey 1 | Exposure Geolocation (London,UK) and exposure to Billboards. Digital Exposure. 2 | Awareness 3 | Engagement University Stand & Pop-Up Store (Direct ) Advertisement, Social Media and Forum. (Digital )
  23. 23. Customer Journey 4 | Incentives 5 | Evaluation 6 | Subscriptions Gadgets & Customised Content Existing & New Subscribers will be invited to share on The Economist’s forum feedback and suggestions. £12 for 12 Weeks: Print, Audio + Digital Version. 7 | Advocating a Bond Positive WOM & Loyal Relationships.
  24. 24. +40% Database DEMOGRAPHIC BEHAVIOURALPSYCHOGRAPHICTRANSACTIONAL Age & Gender Type of Subscription Interest Occupation To identify our new target audience To customise offers and topic available New Customers +29%Existing Customers
  25. 25. Testing, Time & Budget Jan 2017Dec 2016 Focus Group, Message Testing Campaign Preparation, Stands at University Digital Campaign Launch 4 Weeks: Every Monday 1 Year: Jan 2017 – Dec 2017 Feb 17 Mar 17 Apr 17 May 17 Jun 17 Jul 17 Aug 17 Sept 17 Oct 17 Nov17 Dec 17 Pop-Up-Store, 5 Weeks : Each Monday. Time Lapse Advert Direct & Digital Campaign
  26. 26. Testing, Time & Budget Message Testing: One Focus Group £3000 (Nielsen, 1998) University Stands: £1400 per stand 4 weeks = £5600 Pop Up Store: Per day - £125 5 stations = £625 Billboard and Time Lapse: Billboard - £500 to £1,500 per month. Day Shoot - £350 (Construct Films, 2016) Instagram: CPM - $6.58 / CPC - $0.44 Facebook: CPM - $5.21 / CPC - $0.25 (Rodriguez et al., 2016) Direct Campaign Digital Campaign (Popup Stands UK, 2016) (Christie, 2014)
  27. 27. Forecasting Acquire 11% more subscribers by the end of 2017 Shift attitudes 21-29 year olds have of The Economist from neutral to positive Raise awareness of the benefits of subscribing: cheaper for students, personalisation Integrated topics, professionalism
  28. 28. Forecasting Forecast 1 Target Age Group: 21-29 Email Response Female Male Total Quantity mailed Total clicks 24000 21500 13500 11500 37500 33000 Response Rate 89% 85% 87% Forecasted Subscription 29-40% 29-40% 40% Actual Subscription 36% 32% 68% Year 2 and 3 ● Gathering and analyzing data collected from the campaign run in year 1 ● Using this to suggest further improvements to The Economist’s content ● Launch same campaign throughout the whole of the UK ● Maintaining our focus on attracting more women
  29. 29. KPI’s Retention Rate Customer Acquisition Rate CLTVClick Through Rate (Total clicks / Sent Emails) * 100 Insight into how many customers engage with content. Number of customers retained to the number at risk. Track the change in ability of firm to retain customers. Total Acquisition expense / total of new customers. CLTV = ARPA*% Gross Margin / % MRR Churn Rate To track the cost incurred by acquiring new customers. To assess the financial value of each customer. Return on Investment Predicted subscribers x 12 - budget / 500,000 To measure the success of our campaign i.e. did our marketing expenditure translate into sales?
  30. 30. Mandatories You cannot change or affect the editorial content in any way and this should not be considered as part of your response. However, you do have the exibility to package together existing content and tailor / recommend content for specific audiences. To be clear, this isn’t about turning The Economist into The Economist - we do not want a campaign that is patronising or demeaning to women in any way. The Economist also doesn’t want to compromise the integrity of our Editor, Zanny Minton Beddoes, so do not use her as a figurehead in your creative recommendations; This brief is for a UK pilot only, running from Jan 2017 to Dec 2017.
  31. 31. Thank you ! Any Questions?Alessia Arcuri, Bartlomiej Birgiel, Lina Adade, Niccolo Campa, Shandia Vythilingum.
  32. 32. List of References 1. CDN (no date) [online] Available from: <https://cdn.shopify.com/s/files/1/0535/3509/t/14/assets/megaNav-2-A.jpg?10217693323207643085> [Accessed 21 November 2016] 2. Christie, S. (2014) ‘We made £2, 000 in a month by selling our clothes in a pop-up store’. [online] Available at: <http://www.telegraph.co.uk/finance/personalfinance/11180264/We-made-2000-in-a-month-by-selling-our-clothes-in-a-pop-up-store.html> [Accessed: 24 November 2016] 3. Construct Films (2016) Pricing. [online] Available at: <http://www.constructfilms.co.uk/timelapse-pricing> [Accessed 24 November 2016] 4. Curtis, J. (2016). Newsweek's Print Edition Collapses, Publication to Focus on Digital. [online] The Content Standard by Skyword. Available at: <http://www.skyword.com/contentstandard/marketing/newsweeks-print-edition-collapses-publication-to-focus-on-digital> [Accessed 23 November 2016] 5. Financial Times (2016). Financial Times launches new brand positioning ‘Make the right connections’. [online] Available at: <http://aboutus.ft.com/2016/04/13/financial-times- launches-new-brand-positioning-make-the-right-connections/#axzz4Qqqd76MI> [Accessed 23 November 2016] 6. Garber (2011). “The personal(ized) brand: Yet another reason The Economist is trouncing competitors”. [online] Available at: <http://www.niemanlab.org/2011/11/the- personalized-brand-yet-another-reason-the-economist-is-trouncing-competitors> [Accessed 15 November 2016] 7. Good, (2011) [online] Available from: <https://www.good.is/articles/why-should-women-read-the-economist> [Accessed 21 October 2016] 8. IDM (2016). The IDM Brief 2016: The Economist. [online] Available from: <https://learning.westminster.ac.uk/bbcswebdav/pid-1634534-dt-content-rid- 4420816_1/courses/BMKT607.1.2016/Final%20Competition%20Brief%20Economist.pdf> [Accessed 26 October 2016] 9. INMA, (2013) Women more likely to read, act on newspaper advertising [online] Available from: <http://www.inma.org/blogs/earl/post.cfm/women-more-likely-to-read-act-on- newspaper-advertising> [Accessed 01 November 2016] 10. Marketing Mine Field (2016) Billboard advertising buying process and expected costs. Available at: http://www.marketingminefield.co.uk/billboard-advertising-costs/ (Accessed: 30 November 2016). 11. Mediatel, (2016) 1843: Economist targets affluent readers with new magazine brand [online] Available from: <http://mediatel.co.uk/newsline/2016/03/03/1843-economist- targets-affluent-readers-with-new-magazine-brand/> [Accessed 21 October 2016] 12. Nieman Lab (2016). Only 13% of The Economist’s readers are female. [online] Available from: <http://www.niemanlab.org/reading/only-13-of-the-economists-readers-are- female> [Accessed 01 November 2016] 13. Nielsen, J. (1998) Cost of running a focus group: Article by Jakob Nielsen. Available at: https://www.nngroup.com/articles/focus-group-cost/ (Accessed: 30 November 2016). 14. Nrs.co.uk. (2016). Magazines | National Readership Survey. [online] Available at: <http://www.nrs.co.uk/latest-results/facts-and-figures/magazines-factsfigs> [Accessed 23 November 2016] 15. Online Magazines, (2016) [online] Available from: <http://onlinemagazines.org/the-economist-4-june-2016/> [Accessed 21 November 2016] 16. Popup Stands UK (2016). Popup exhibition & Tradeshow display stands with integrated TV & Flatscreen monitors. [online] Available at: <https://www.popup-stands- uk.co.uk/store/pop-up-stands-tv-monitor-stand> [Accessed 24 November 2016]
  33. 33. List of References 15. Pandey, R. et al., (2016). Wall Street Journal’s new content strategy and what brands can learn from it. [online] Marketing Interactive. Available at: <http://www.marketing- interactive.com/wall-street-journals-new-content-strategy-brands-can-learn> [Accessed 23 November 2016] 16. Rodriguez, G. et al., (2016). Home. [online] Available at: <http://fitsmallbusiness.com/how-much-does-facebook-advertising-cost> [Accessed 24 November 2016] 17. Statista, (2016). Media brands rated by young people in the United Kingdom (UK) 2014. [online] Available from: <https://www-statista- com.ezproxy.westminster.ac.uk/statistics/314466/favorite-media-brands-of-young-people-uk> [Accessed 01 November 2016] 18. TBN, (2015) Opportunity for business media with women readers [online] Available from: <http://talkingbiznews.com/1/opportunity-for-business-media-with-women- readers/> [Accessed 29 November 2016] 19. TechTarget, 2016 [online] Available from: <http://searchcio.techtarget.com/definition/C-level> [Accessed 25 November 2016] 20. The Economist (2016). “The Economist Group”. [online] Available at: <http://www.economistgroup.com/what_we_do/our_brands/the_economist_brand_family/the_economist.html> [Accessed 15 November 2016] 21. The Economist (2015) Annual report 2015. [online] Available at: <http://www.economistgroup.com/pdfs/Annual_Report_2015_FINAL.pdf> [Accessed 8 November 2016] 22. The New York Times (2010) The Economist Tends Its Sophisticate Garden [online] Available from: <http://www.nytimes.com/2010/08/09/business/media/09economist.html?_r=0> [Accessed 21 October 2016] 23. Time Dorks (2016). Why I ignore the daily news and read The Economist instead (and how you can too). [online] Available from: <https://medium.com/time-dorks/why-i- ignore-the-daily-news-and-read-the-economist-instead-and-how-you-can-too-53f4d255efa6#.evk2paihq> [Accessed 1 November 2016] 24. Twitter (2016) [onlone] Available from: <https://twitter.com/theeconomist> [Accessed 21 November 2016] 25. WSJ (2009). The Economist Targets U.K. Readers. [online] Available from: <http://www.wsj.com/articles/SB124648859021982843> [Accessed 21 November 2016]

×