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Tips for Making the Most of Your Media Sales Meetings

Posted By Debbie Auger, Sean Tracey Associates, Sunday, September 15, 2013
Updated: Tuesday, November 19, 2013

Don’t Let Who Takes You to Lunch, Take You To the Cleaners:

Are you sometimes lured in by Über-friendly sales reps offering lunch meetings at your favorite spot? Like most you’re probably thinking, what’s the harm? You probably should go and listen to hear if what they’re offering makes sense for your bank or credit union. However, before the dessert list is presented, you’ve found yourself committing to a buy before you’ve had a chance to weigh it against your overall marketing goals or objectives. You may not realize it until it’s too late.

Most media sales reps are in the business for one reason – to get you to buy what they’re selling. They show you ratings, research and packages that validate why their station, magazine, etc. is the absolute best way to get your phone ringing off the hook. The bottom line is that their goal is not to sell your products and services, but to sell theirs to you.

The intricate collaborative partnership between client and media partners must begin with an articulated set of objectives and goals. Whether you plan your own media, or use an agency, offering insight and guidance is essential to making the most of your media dollars.

7 Important Things to Share with your Media Planner/Sales Reps:

  • Market Conditions-Why are you doing it? Research and evaluate insights about the designated market area, competition, sources of business, etc.
  • Target Audience-Who is the primary prospect you are speaking to? (by the way, Adults 18+ isn’t an answer)
  • Campaign Goals/Desired Response- What action do you want the consumer/prospect to take? What are realistic and measurable goals?
  • Key Benefits-What is the one incentive that will create your desired response? Consumers will always be thinking, ‘What’s in it for me?’
  • Support of Benefits -Prove it. What are ideas and facts that fulfill the incentives you have promised?
  • Creative Concept-Telling your story creatively will allow your media partners to properly place your messages where and when they will have the most impact.
  • Timeline-Identifying specific dates is critical to precision execution of strategy. Current events relevant to the designated market area, plays an important role in discovering the right media sources and staying within budget constraints. Political campaigns, wildly exciting sporting events, the holidays impact rates and inventory.

If you’re disorganized, or unable to clearly outline goals and budget then you’re more vulnerable to making poor media investments. After compiling and sharing this critical information, request that media partners do their own research: visit your client’s website, Facebook page, and even pop into a branch. Have them familiarize themselves with your financial institution’s mission statements, products and services and the what your organization is doing in the community. By getting to know the brand, they can make the best possible recommendations for media opportunities that are in alignment.

Leisurely lunches and free theater tickets are great perks, but shouldn’t be part of your media strategy. They may make you feel beholden to these media partners even if they don’t speak to your target audience.

So go ahead, take the lunch meetings, but if your rep shows up and doesn’t know how to pronounce the name of your bank or credit union, there’s a good chance that whatever their selling isn’t for you. It’s okay to lunch and learn, but remember- dine, don’t sign.

Tags:  media  media buying 

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5 Most Common Media Mistakes

Posted By Marilois Snowman, Managing Director, Mediastruction, Sunday, August 4, 2013
Updated: Tuesday, November 19, 2013

With so many choices in media today, evaluating advertising is increasingly challenging. Many years of experience and sophisticated tools, sometimes, cannot prevent marketers from making five common mistakes in media selection. I have outlined them below.

First mistake: Investing in the station/newspaper/website that you and your friends like.

With quite some regularity we hear comments like, "I listen to that station all the time.” Or "I’ve never even heard of that website.” Or "All of my friends watch that program.” And you know what? We admit that it does feel good to hear your brand’s spot on your favorite radio station. It is exciting when friends and family mention hearing it. But making media planning decisions based on a focus group of family and friends misses the point, which is: Is that where your customers live? Especially with today’s technological abilities to target audiences, rather than mediums, it’s more important than ever to understand your target audience and follow their media habits, rather than your own. Another important point here is that your favorite medium, even if it mirrors your customers, may not be the most financially efficient area. You want a qualitative analysis of a medium’s match to your clients, but also a quantitative analysis of reach, frequency and cost per impression to ensure the highest and best use of your ad dollars.

Second mistake:Underestimating the importance of good creative and content.

In today’s advertising world, the distinction between media and creative is becoming blurred. For example, is a Facebook promoted post an investment in media, creative or public relations? Further complicating matters, consumers are in control of media consumption. They can time shift, ad-skip and select an ad-free content model. Therefore, it’s more important than ever for advertisers to earn attention. A bad ad can actually harm your brand, wasting ad dollars. A great ad can go viral and exponentially increase your exposure and "earned” media. We’ve seen cases where a brand will allow the media outlet to create the ad, without expert direction. This sometimes creates "rookie” mistakes like:missed address/phone/contact information; bad stock photography; misspelled/mispronounced brand name; wrong font/color/announcer for product. Quality content can lower necessary media spends.

Third mistake:Get distracted with the shiny new toy.

Remember when we said the first mistake was selecting the media outlet against personal bias? Getting distracted by the shiny new toy is the opposite side of the same coin. Often marketers will read about an innovative new technology or ad model and want to participate without thinking through how it elevates their message. For example, remember in 2006 there was this cool new site called "Facebook”? Everyone who’s anyone HAD to be there. But was Facebook an appropriate advertisingtactic, considering advertising was limited to a few characters and one thumbnail image? Social media can absolutely drive sales, but does the nature of your brand’s product facilitate a social conversation? Do you have the internal resources to provide consistent, compelling content? Take another example: many marketers are infatuated with "big data,” with one example being the powerful analytics Google provides. But are you getting bogged down with data? Are you jumping to conclusions before a search or display campaign has had time to mature?

Fourth mistake: Underspending or overspending

Often marketers who buy media directly will purchase an "affordable” medium. They interpret affordability in actual costs. But, under quantitative analysis, the marketer has actually overspent, by investing in a medium whose cost per impression, against the marketer’s target audience, is much higher than more efficient, competing mediums. Or a marketer may purchase a number of spots in a broadcast medium, without regard to reach and frequency goals, and underhit the mark. In this case, the marketer has underspent and, had he invested properly, would have seen a positive return.

Fifth mistake:Inconsistency

Some marketers feel pressure to demonstrate an immediate return and look for results before a campaign has had time to "season.” This premature evaluation will lead to trying one tactic for a month, then skipping to another the next month, all in the hopes of finding the silver bullet. This is dangerous for two reasons: 1) the campaign may not have had enough time to allow the development of a relationship with the target audience 2) media success is more often a result of media mix modeling than one particular medium.

Like the fortune teller who didn’t recognize that her payment was counterfeit, it can be really, really difficult to craft a media plan with an outside perspective. A good agency will have the quantitative tools to provide the proper analysis, to map a media strategy to business goals and the experience and wisdom to add a creative flair.

Marilois Snowman is founder of Mediastruction, specializing in media planning, media strategy and media buying.

Tags:  media  media buying 

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