[Video]: Utilizing Data to Gain Efficiencies and Uncover Opportunities
We believe the daily pressure on CMOs to move their business forward is real, intense and not going away. Join our media practitioners as we discuss the HOW behind supporting client growth through media strategy.
In this episode of Fast-Forward the Conversation, Kimberly Lockett, Planning Director, shares a unique perspective on work we’ve done for a franchise client in the home improvement category with influence across 200 markets.
Catch the Highlights
- The client’s current media plan was spread a little thin in terms of broadcast and digital campaigns, with a somewhat laissez-faire approach in terms of management.
- We started with a media audit to assess what had been done in the past in order to determine where we should aim for the future. We discovered previous efforts had been focused more on brand awareness with broad-scale buys in print and broadcast rather than concisely-targeted buys concentrated on specific zip codes within the client’s service areas.
- Although television viewership has changed, especially in light of COVID, the client had been running the same schedule for a few years.
- We scratched their whole daypart mix in favor of a more efficient way to reach the target audience of 25-54-year-olds. Our market research and the ratings showed that both the 25-54 and the 55+ buying demos were watching the same programming. Adjusting the purchase to the slightly older demographic allowed us to lower pricing enough to shift 15-20 percent of the budget into the coveted prime-time slot.
- The client was also overspending in search. Fully-optimized search campaigns require active management on a weekly or even daily basis, but the client was simply letting the campaign run on its own.
- Our search and broadcast team members worked in tandem to re-piece the media mix puzzle together without increasing the overall budget.
- Once broad media was covered efficiently with tremendous reach, we utilized data partners to provide better visibility into the true opportunity areas in the marketplace for a digital plus-up.
- We started by leveraging Simmons data to better understand the target audience. Learning about the behavior, lifestyle and attitudes that impact the purchasing decisions of the target audience helped us determine where to find and target them.
- Then, we looked at zip codes within the service area and layered on homes that were 20+ years old, since homeowners typically start thinking about home improvement activities when a home reaches 15-20+ years of age. This helped us identify more narrowly defined areas with the most potential for leads and conversions.
- Reporting from the client’s previous agency consisted of thousands and thousands of lines of data in Excel with no real insights into what it all means. Our goal for the future is to create more valuable reporting that combines sales data with campaign performance to provide a full picture of what’s happening on a day-to-day basis in order to be able to pivot quickly if a tactic is underperforming.
- Our dynamic reporting creates a much more intimate relationship with the data, making our client’s life easier by providing an immediate connection to KPIs and business intelligence to enable informed decisions.
See the next episode, Influencing the Customer Journey.
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