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Expert Offers Advice For Improving Cost Efficiency of Advertising Media Buys toGrow Business During RecessionIt is well documented that companies who raise their “Share of Voice” during arecession are more likely to emerge from the recession with a higher Share ofMarket. Share of Voice can be increased by spending more ad dollars-- or byspending the existing ad budget more cost efficiently (lower ad rates). Since 2009is a media buyers' market, an opportunity exists for savvy advertisers to increasethe cost efficiency of their media buys by paying less for audiences reached. (seethumbnailmediaplanner.com for 2009 media costs.)Detroit, February 28, 2009 -- Buying media (advertising time & space) is a lotlike buying a car. If you are buying a car, many factors affect the ultimate priceyou pay: your negotiation skills, type of vehicle and brand, age, mileage,depreciation rates, dealer margins, and supply and demand for particular vehicles.The more dealers are hurting for sales, the better the price you should be able tonegotiate.If you are buying20media, you also have to negotiate the price with sellers. Theultimate price will be affected by your negotiation skills, the type of medium(e.g., daytime vs. prime time TV), size of ad, when or where the ad runs, how muchinventory is available, and supply and demand conditions for the type of media youwant to buy.However, there is also a key difference. While auto inventory can sit on the lotuntil sold, advertising time and space are perishable. Yesterday’s unsold spot orspace unit are gone forever. Yesterday’s unsold spot has NO value. The more themedia are hurting for sales, the better the price (measured by CPM or CPP) youshould be able to negotiate.Soft media sales in 2009 creates a major buying opportunity for smart marketerswho are able to capitalize on the strongest buyers’ market in memory. Buying mediaexposure at lower cost means that advertisers can maintain Share of Voice at lowercost-- or can increase Share of Voice at the same cost. Either way, it boils downto an opportunity to buy exposure in media with much greater cost efficiency whichwill increase the impact of the marketing plan.What should buyers expect to pay for media exposure in this economic climate?The 2009 Thumbnail Media Planner (www.thumbnailmediaplanner.com) providesprojections of the maximum prices buyers should expect to pay, based on forecastsfrom 2020:Marketing Communications LLC. The Thumbnail Media Planner provides acomparison of estimated 2009 media costs by type of medium (network, cable, andspot television, radio, newspapers, magazines, out of home, internet and many nontraditional media.According to Ron Geskey, publisher of the Thumbnail Media Planner, aside frombeing aware of opportunities presented by market conditions and having medianegotiation skills, there are several additional ways to improve media costefficiency and effectiveness, e.g.,1. Negotiate for the lowest possible price plus maximum media engagementpotential, e.g., optimize ad positioning for recall and communication2. Adjust your media mix to concentrate in the most efficient and engaging mediafor your company or brand3. Select the most cost efficient media vehicles by analyzing alternative
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