We Must Understand the Reasoning In Marketing and Media

With newtobrand buyers that had been category buyers the ROIs were better as the CLV paid the investments back almost all the timeamp160 Of course many of these had been brand buyers at some earlier point prior to the year lookbackamp160 In fact I39ve seen lots of data consistent with the notion that previous brand experience is the strongest predictor of future brand experience stronger than any professional marketing stimuliThis is where I got the Heavy Swing Purchasers idea Heavy Category and Brand Lightamp160 They were light but they had previous brand experience Many thought I was talking about switchersamp160 I wasn39tamp160 Switchers buy mostly on dealSoamp160you see we must get under the catchphrases and engage the complete words of the sages or even my words and yours until we embody themTake Erwin Ephronamp160for exampleamp160 To many the sum of what Erwin said was quotfrequency is crabgrassquot amp160Later in his life he changed that mantra considerably when it became quotrecencyquot amp160Recency is not the enemy of frequencyamp160nor was Erwinamp160 What he meant was don39t do anything to encourage frequency you39ll get enough of it if you ignore itamp160amp160His strong stance on continuity at the end of his career was he told me the one thing he had not seen through to the endamp160ie broad adoptionamp160which had been his intentionNow of course continuity costs money and as always we see the center of gravity of the industry opting in favor of lowering pricecost at all costs Underspending in marketing in general because it appears so fluffy today a persistent outdated illusion and especially not spending enough when a brand is doing well when a campaign is clickingamp160 We don39t seem to have the reaction time any moreGetting back to recency and frequencyamp160 They are relatedamp160 The argument for recency is that we don39t know when the consumer will shop and yet we want to reach them right before they do soamp160 How do we maximize recency thereforeamp160 Continuity was Erwin39s answerErwin liked when I mentioned the idea of fast reach being related to recencyamp160 Later Dave Poltrack Leslie Wood and I proved at an ARF conference that it was trueamp160 The faster you could build reach the more recency you achievedamp160 In other ARF work with Dave Morgan we showed how fast reach was also tied to ROI naturallyamp160 The net takeaway is to maximize average daily reach against the Heavy Swing Purchaser target campaignamp160 amp160Continuity achieves maximum ROI because it achieves maximum recency overcoming the forgetting curveamp160 Most of the recency as always comes from frequency ie reaching someone already reached proving that frequency is not the bad guy in advertising effectivenessSo the thought is to get below the catchphrases and actually understand and carry out what they have been sayingamp160 We know it alreadyamp160 We just aren39t using it in advertising planningToday we have the ability to outthink recencyamp160 We can target with knowledge of what days that home is likely to shop increasing recency by an order of magnitudeamp160 Joel Rubinson proved this point in his study with Viant amp160As an example RMT Inc the company I cofounded with Bill McKenna and other industry geniuses has partnered with IRI Viant and StatSocial to make DriverTagsTM available to ROIROASfocused advertisers agencies and media owners for use in context and creative optimization and targeting Your Psychological Next New Customeramp160Today39s tools despite the complex challenges enable far more impressive media plans than the industry has been seeing and doingamp160 Let39s see plans which follow the accumulated wisdom and do not defy itamp160 As always there are those among us to whom these critical words do not apply and you know who you areamp160 Let39s all get therePhoto credit Carlos Muza UnsplashClick the social buttons above or below to share this story with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writers

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We Must Understand the Reasoning In Marketing and Media

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Bill Harvey

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