Marketing companies spending more on analytics
Price promo motions drive short term increase in sales
No ROI on TV / Print.
Correlate purchase intention in base sales
Move 1% of the “makes your skin soft” term which will give a dollar value from sales.
— Stewart Barrett (@stewface) March 15, 2016
NOTE: Please find my crude notes taken from Ad:tech Sydney March 2016. Please excuse any typos as this was written on the fly and with my life is now consumed with my beautiful 5 month old daughter and work @ROKT. As such this hasn’t been edited, typos and poor autocorrections from my iPad Pro will entail.
Understanding of marketing investment on short term sales and long terms sales and brand equity. What is it going to mean over the next 12 months
Print and TV drive the long term sales, print advertising drove the better overall impact. ($2 ROI from $1 spend)
Key actions –
Increase impact price promotions
Altered mix of in story excursion to generate bigger uplifts
Creative scores influence media investment
Identity the right to flighting strategy for optimism returns
Comms to focus on building key long term drivers
Looking for a 10% penetration when looking for a medium – what data us available
Beiersdorf Australia (NIVEA, NIVEA MEN, Elastoplast and Leuko) needed to better understand the effectiveness of their Marketing & Media (both traditional and digital) investment on Sales. We engaged our research partner, Millward Brown, to work on a measurement system that quantifies not just the immediate (short term) sales impact, but also considers the longer term ROI of different marketing activities.
The insights were used to generate recommendations for business planning spanning all types of media (TV, Print, OOH, Digital etc.) and non-media drivers like trade & price promotions to drive real strategic change. By analyzing both short and long term impact of marketing mix on sales, we are able to understand the full effectiveness and roles of different elements of the mix – rather than just focusing on price and promotion as key sales levers.
Paul Croci, Regional Consumer Research and Insights Manager (Far East & ANZ) at Beiersdorf Australia will be the main presenter alongside Millward Brown’s Head of Media and Digital, AMAP Region, Mark Henning.
1) Insights into the long term impact of media spend: Confirmed and quantified long held belief that various Marketing and Media activities have very different roles in driving short term sales and long term sales via brand equity impact.
2) How actionable insights can optimize brand strategy: A key takeaway was to re-look at our promotions strategy. An insight drawn from the analysis was to reduce the ‘depth’ of price promotions, whilst prioritizing off location promotions.
3) Why understanding cross channel ROI is so important: Media effectiveness varied given the roles of different channels. TV, on one hand, performed profitably only once we quantified the long term brand building impact.