Hear Here…or Not

26DT_Blog_Twitter_Hear-Here

by Chris Beck

CBS’s announcement to “pursue strategic alternatives for its radio division” is not a surprise to anyone in media. This ironically follows on the heels of Pandora’s announcement that they have employed Morgan Stanley to sell their company, proving this is not a “traditional media” versus “new media” cause and effect. Rather, anyone in the consumer consumption vertical has to balance profitability with consumer consumption habits, advertiser value, demand and available inventory with a constant eye on the future.

There are valuable lessons that can be learned across the entire media landscape. Radio, newspaper, broadcast TV, streaming audio, e-commerce sites, apps, and search engines fail or fall from popularity because of the inability to balance the triangle of consumer usage, financial demand, and ultimately profitability. The consumer is smack dab in the middle of that triangle, evolving at a rate of technology consumption and adoption more rapidly than at any other time in history.

Consumers are fairly predictable across the media landscape and will generally balance using three similar forms of media in a specific order. First Preference media generates the majority of their usage, Second Preference generates about half that, and then Third Preference half of that. This media usage pattern is as applicable to radio as it is to video streaming and social. Radio is easy to understand in terms of First, Second and Third Preference usage: you have a favorite radio station, a second favorite one when they’re playing commercials, and then a third choice. Social media is similar in that there is often one social network (Twitter, Facebook, Instagram, Pinterest, etc.) that’s checked consistently, whereas two or so other social platforms are engaged with less frequently.

The simple question is, “Are there simply too many radio stations available based on how the consumer is interacting with the medium today to provide a quality, unique and local experience?” The answer is a resounding “Yes!!!” For radio (or any player in the media landscape,) less is typically more.

iHeart Radio is and has been in a debt mess for years. Their debt of $21 billion is about three times the total annual revenues, which is in the $6 billion range. Cumulus is a hot mess, losing a half a billion dollars last year, which is the equivalent of a little over $2 per share on shares trading in the 40 cents (YES, cents) range.

The unfortunate pivot in the radio industry will result in maybe two or three excellent or unique radio stations in a market, with the rest being used for syndication, “network” programing and voice tracks. This will ultimately play out across the entire media landscape, proving again there is value in understanding history or else you will be destined to repeat it.

 

Chris Beck is the Founder and Chief Vision Officer of 26 Dot Two.  A popular speaker and partner strategist for Brands. https://www.linkedin.com/in/cbeck

 

The Power of Impact Impressions Versus Impressions

26DT_Blog_Twitter_Impact-Imps

By Chris Beck

While viewability, ad blockers, bots, and programmatic delivery are all hot topics for marketers, you can radically pivot your approach and generate more impact by focusing on Impact Impressions (iImps) versus Raw Impressions. Focusing on iImps dramatically increases the impact of your campaigns while dramatically reducing waste.

While it should be common knowledge that Impressions comprise of Reach multiplied by Frequency, this is generally lost in the commoditized equation of planning and reporting. Rather, the focus is too heavily placed upon Total Impressions versus how the Reach and Frequency generate real impact with the consumer. All impressions are not created equally, and as such should have different weight and measurements applied to them.

Programmatic Impressions that are served without concern for Frequency (much less Cross Device Frequency) across an unvetted network (which may include blogs that have not been updated for years,) that serve multiple impressions on a single page or during a single site visit may mean very little in ultimate impact and a high percentage of waste.

A $2MM national campaign that scales a 1.2 Frequency (not counting Viewability) will struggle with any measure of real impact. However, if you build your strategy with a careful eye on a framework of effective Frequency, including daily, weekly, and campaign capping, along with a negative targeting pool, you can generate far greater real impact with the same budget. By capping Frequency, you serve your sequential messaging to more successfully follow and drive the consumer down the path of discovery, awareness, interest and action.

Impressions are not created equal. When you disrupt your standard approach, and consider benchmarking impression value, you will end up with a greater, more effective plan.

 

Indexing Impression Effective values

  • Raw Impression / stand alone siloed impression: -0.65
  • Impression that can be measured and scaled across device sequentially:  +1.25
  • Impression that can create a dynamic customized experience tin which engagement can be remarketed: +1.5
  • Retargeted impression with customized sequential messaging: +1.75

 

Chris Beck is the Founder and Chief Vision Officer of 26 Dot Two.  A popular speaker and partner strategist for brands.

https://www.linkedin.com/in/cbeck

No Impression Left Behind

26DT_Blog_Twitter_No-Impression-Left-Behind

By Chris Beck

One of our manifestos at 26 Dot Two is “No Impression Left Behind.”

This manifesto was engineered in our ultimate quest for creating as logical, dynamic and customized an experience as we can for consumers, while also dramatically increasing the value of our clients’ investments.

We strive to avoid “siloed impressions” that are “spray, place and pray.” Rather, each impression should be engineered as a touchpoint, which can be leveraged for ongoing value down-stream and through the funnel.

No Impression Left Behind requires a significantly different approach in strategy, which we call, “Reverse Engineering.” This strategy carefully maps the consumer journey to best identify time, place and opportunity touchpoints that are unique to different personas, allowing us to develop messaging that is logical, customized, sequential and timely. It’s critical for the strategy to work with creative, content, and vendors, and involves a significant amount of hyper optimization and synchronicity with emerging attribution technologies (many of which are in Beta.)

But is all this effort truly worth it? Campaigns we have engineered using this approach have created performance in the top 95% of campaigns measured by Nielson for Brand Awareness and Purchase Intent, and significantly exceeded performance for e-commerce conversions. The numbers don’t lie.

Engineering campaigns with a manifesto of No impression Left Behind moves the discussion and impact from the under 1% (CTRs) to creating real value with the other 99%.

Chris Beck is the Founder and Chief Vision Officer of 26 Dot Two.  A popular speaker and partner strategist for Brands. https://www.linkedin.com/in/cbeck

Contact Us