Whilst this adagium might have been acceptable in the sixties or seventies, I find it totally unacceptable today. Budgets are too high and times are too insecure to continue wasting money.
So I was happy to come across and article in WARC by Frank Harrison, who is Strategic Resources Director Worldwide, ZenithOptimedia, with as title 'Unravelling the Gordian know of brand contact'
In this article he explains how Zenith Optimedia have been using MCA to help marketers maximise the effectiveness of their marketing mix.
I skip the details, which was published in the Quarter 4 2009 issue of Market Leader and jump immediately to the last paragraph which talks about 'Universal Brand Contact Insights'.
Gut feel and facts tell me that there is much truth in what Frank is saying:
- don't underestimate the power of WOM
- don't underestimate the power of sampling
- TV is very effective, but beware, don't over spend in TV
- Radio and newspaper, and I add outdoor to that, are great tactical media but you quickly reach diminishing returns
At the same time, also according to Frank, what is true for one target group or product category, might not be for another. Question therefore is: How are you making sure you are not wasting 50% of your company's budget?
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