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Determining the Right Media Mix for Newbies

Posted by Jenna Bruce on Mon, Feb 20, 2017 @ 01:53 PM

 

Small business owners share one common goal: to employ highly-effective advertising that works within a limited (read: shoe-string) budget. The best way to achieve this goal is to get the right offer in front of the right audience at the right time. And the right way to do this is to use an optimum media mix.

But when it comes to determining the right mix of media, confusion generally abounds. How exactly do you integrate multiple channels to generate new sales and sustain customer value over time?

By following some specific guidelines.

  1. Understand Your Product or Service Value Proposition

Before you can determine what marketing mix is best you’ve got to understand the value proposition of your specific offer. Ask yourself a few questions:

  • What problem are you solving?
  • How do you solve it?
  • What other solutions are currently in the marketplace that you must differentiate yourself from?
  1. Use Discretion When Allocating Your Marketing Budget

Many business owners spend most their time focusing on what channels to use. While mixing channels cohesively is a big part of a successful integrated campaign, you’ve got to think about budget allocation as well.

Use any historical benchmarks you may have collected to plan your budget. Analyze this data to determine whether or not certain channels helped you reach your campaign goals. This will help you plan your budget accordingly.

  1. Know Your Audience

You’ll never pick the right marketing mix if you don’t know who it is you’re trying to reach. Who is your target market? What kinds of media do they consume? How do they like to be reached? How do they NOT like to be reached? Are you a B2B or B2C company?

It’s important to create a generic profile of your ideal customer. Jot down the different personas you wish to reach, then research which channels will most effectively get the job done.

  1. Mix it Up

They don’t call it a marketing mix for nothing. Get out of your comfort zone and get creative when it comes time to choose your channels. Take a look at the research you did on your target market. Where is the best place to reach them? Online? At trade shows? In the newspaper? Via flyers or direct mailers?

The list of marketing tools you can use today is almost endless, so don’t just pick one method or channel. Think bigger and combine print ads with social media, flyers and coupons with TV ads. And finally, be certain your brand is cohesive across all channels so that your audience instantly recognizes you.

  1. Set Realistic and Measurable Goals

In order to determine if your integrated campaign has been successful, you’ve got to be able to set realistic and measurable goals. Don’t assume that after the first run of a print ad you’re going to have 30,000 prospects calling your store. That’s not realistic. But having 100 new prospects call after the third run and using a customized 1-800 number will do the trick.

SMART-goals-1.png

In today’s global landscape, where brands must fight for consumer attention, marketers must be savvy and strategic in order to get their message heard. Using the right media mix will go a long, long way to reaching your marketing objectives in the coming year and beyond.

 

Download the CMO's Guide to Integrating Print and Digital MediaDownload our guide to hiring a media provider

 

Topics: newspaper, target audience, print media, marketing, Media Mix, marketing goals

50 is the New 30: Why Your Bullseye should be on the Boomers

Posted by Molly Carnicom on Thu, Sep 06, 2012 @ 12:00 PM

describe the imageConstantly targeting the ever so popular 18 to 49 age group with your advertisements? Ever thought about those with a little more experience? Never! Oh, but you should.  People within the 18 to 49 age group eventually grow out of it, right? So wouldn’t it make sense to target them after they turn 49? Ding, ding, ding! Just because they turned 50 does not mean they spend less money. Surprisingly, they actually spend more.

Nielsen recently released a report, the “Most Valuable Generation,” , where they outline the reasons advertisers need to be including the 50+ market in their target audience. MediaPost also provided a research brief outlining additional stats on reaching this key audience. Here’s the dish:

  • Within five years, 50% of the U.S. population will be 50+ and  control 70% of the disposable income
  • The 50+ audience consists of nearly 100 million consumers
  • 50+ audience is expected to grow 34% and the 18 to 19 audience 12% by 2030
  • Boomers account for nearly $230 billion in sales for consumer packaged goods
    • Which is 49% of total sales
    • 63% of Boomers still have at least one person within their household working full time
    • Boomers make up 44% of the U.S. adult population
    • Boomers brand loyalty levels are the same as other age groups
    • 53% of Boomers have an account on Facebook
    • Boomers make up 33% of all online users; 33% of all social media and Twitter; and 33% of Boomers are heavy Internet users

Now, would you reconsider who you are targeting? While you can build brand loyalty with the 18 to 49 age group, what are you going to do with it once you have it? If you aren’t including the 50+ how can you be sure their loyalty will remain? If you want your brand to see growth and continued success, you need to include the 50+ age group in your target audience. They spend the most money, are loyal to their brands and make up a large percentage of the U.S. population. You would truly be missing out on a gold mine, literally, a gold mine, if you decide not to include this integral group in your marketing.

So get out your Beach Boys vinyl, your itsy bitsy teeny weeny yellow polka dot bikini, jump in your yellow submarine and start hitting an audience that can accelerate your brand and your business. Curious how you can attract affluent consumers? Download our white paper, ‘Proven Methods for Reaching Affluent and Educated Consumers.’

Download Proven Methods for Reaching Affluent and Educated Consumers

Topics: Baby Boomers, Boomers, target audience