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in
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Dear
Reader,
Once your results begin to flow in from the media test there are
numerous elements to consider and take action on. First, and the most
basic is to maximize your successes. In the case of the media study we
are reviewing here, this client has done their homework far in advance
of airing the first media test airdate.
There were past airings than yielded successful results, and a
database of customers that the client studied in order to understand the
demographic and behavioral patterns of his customer base. A very clear
picture emerged in those studies that gave not only a crystal clear
understanding of his customers, but also where they were located in
television markets across the country.
Putting It All to the Test 
Now (in the media test) we have put to the test the knowledge gained
from these studies. We choose the stations, markets, time of day, almost
all of the test factors were based on these studies. The results are
yielding a successful return on investment, and the assumptions that the
study pointed too are proving to be profitable. We are reaching the
people who have the inclination to buy the product, and the offers plus
selling hooks are working to create callers buying the product.
In this case the markets and stations are already known far in
advance of testing the product and offer. Since the media test is
proving to be successful, we can continue to test new stations, times,
and markets based on the knowledge and the road-map laid out through our
studies. This is a tremendous advantage for the client and media buyer.
This is foreknowledge, and the most efficient way to use the hundreds of
thousands of dollars which comprise the total media buy.
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Issue
26 Part 1: Crossing The Customer's Great Black Hole
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Past
Results Leads to Future Placements |
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The classic way to roll-out a media campaign (lacks customer
studies and market foreknowledge) is one media buy at a time. In
other words, when the test results begin to come in and the
media buyer sees success on particular media placements-then it
is the job of the media buyer to continue to purchase that media
time. Depending on the revenue generated from the past airing,
then the buyer will have a good idea how much more media to buy
for future airings. Generally, if your sales revenue is two
times your media cost, then buy the time twice more for
infomercials. If you are airing spots, then double the frequency
of your spots if the revenue is producing double your media cost
in a particular daypart (for instance 9am to 3pm).
Issue20:Media
Purchasing-Window To Your Marketing Soul »
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Hitting
the target Over and Over Again |
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Further, if a station in a market is doing well and particular
dayparts on that station are also doing well- then it makes
sense to buy other stations in that market, or in the case of
national cable other like- national cables. The media buyer
wants to replicate the success of what is working RIGHT NOW, and
the simplest way to do that is to choose other like- stations,
dayparts, and markets that are like the one that is producing
success. If those choices prove to be successful, then the same
process continues over and over again-finding like markets,
stations, and times of the day that produce profits.
Issue
21:Managing Your Most Precious Asset »
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Test,
test, and more testing |
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The next step is to experiment. Eventually the media buyer will
not be able to reproduce the same results- because the
like-stations, markets and times are limited. So the next
logical step to take is to experiment with different stations in
a successful market, or different national cables. In the case
of stations in a market, the buyer will buy time at least within
a market that has proven to to be successful. So now you are
experimenting with times and new/different types of stations. In
the case of national cable the risk is greater, because you are
now trying a new programming format, however it makes sense to
at least buy time of day that works on other successful cables.
Issue
29: Why Guess And Throw Your Money Away? Predict The Markets
That Have The Greatest Number of Your Potential Customers »
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Media
Proving Grounds Leads to Powerful Blast |
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We have found proven areas of success based on the original
$15,000 to $20,000 test. Depending on the power of the product
sales-the original test may yield many stations, markets, and
times that create profits. Or the test may be moderately
successful in its scope. Whatever the initial results the first
stage of the roll- out are, and the dollars that represents-it
will rest upon how well the media choices were and the sales
power of the product. The entire first stage of this process may
lead to $50,000 or $150,000 dollars spent on media every week.
Also, the lead up to this increased media expenditure is based
upon one simple process-buying or placing media one airdate or
daypart at a time.
Last
Weeks Issue: Issue 58: Three Primary Anchors That Drive the
Money Train »
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