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Dear Reader,
At this stage of media development we are "narrowcasting."
The first step was "broadcasting" or airing the
commercial targeting the broadest possible audience and
resulting (in this case) in a successful response or 20,000
customers. In the second step or narrowcasting phase, we are
trying to locate the best possible LOCAL markets which house
the greatest numbers of our potential customers.
We achieved this objective by seperating out which markets/zipcodes
customers ordered the product from AND created a list of
markets plus amount of customers per each market. It turned
out that there were six local markets such as Phoenix,
Orlando, etc. and four national cables such as Lifetime,
History, etc. that proved to be the BEST NEXT PHASE of markets
to test.
| in
this issue |
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| How
The Numbers Work From The Top Down |
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BROADCASTING
is the first phase of the test. In this phase we are
reaching the broadest possible audience. We are
looking for a response rate of 1 customer per 100,000
viewers.
NARROWCASTING is the second phase and here we use
customer results in order to refine which past airings
were successful, and to build a model of where more of
those customers can be located. Here we are looking
for a response rate of 1 customer in 10,000 viewers.
NICHECASTING represents a third phase. In this
phase, we confirm that all or part of the media model
we were building is profitable, and we learn more
about our customers. Who they are as well as where
they live. In this phase we study reliable customer
results in the form of demographic and psychographic
information. On this level we are looking for 1
customer in 1000 prospects.
MICROCASTING is targeted media and falls out of the
electronic area-print, direct mail, magazines,
catalogues, are distribution points to consider. Here
we are looking for 1 customer in 100 prospects.
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| NANOCASTING:The
Final and Precise Frontier |
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Here
is where the "rubber meets the road" because
we are targeting 1 customer out of 10 prospects. When
we reach this level of marketing we aren't building
models anymore about who we believe the customer is,
and where to reach him. We know.
This is targeted email, newsletter, direct mail,
and perhaps "permission based"
telemarketing. Allot of this business maybe transacted
on a website and/or through "live" inbound
telephone operators.
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| Excellent
Motivation Once the Customer Is Identified |
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Next
week we will explore the HOW TO's involved in
identifying and reaching one customer in 1000
prospects. The art and science of NICHECASTING. |
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| From
Broadcasting To Nanocasting |
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combine the local markets (Best markets that house the
greatest numbers of our potential customers) and
national cables (where the customers ordered
from)-This produces a media plan which targets
nationally known networks BUT in LOCAL MARKETS only.
So, we will buy media on Lifetime Network in Phoenix
only. This is how we "narrowcast" our media
choices based on the past broadcast test.
Along with this process we also will purchase
national cable networks that were successful in the
broadcast test. It is important to continue airing on
those networks that proved to be successful-this
produces profits and national exposure of the product.
To date we have focused on four national cables and
six local markets in phase two of the testing process.
Last
Weeks Issue: Issue 25 Part 2 Media Bungie Jumping
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