Momentum

This year, I attended the Money 20/20 conference in Las Vegas. This conference gave “Money Revolutionaries” the opportunity to meet and discuss many challenges, including the following.

Momentum
Creating Momentum

The major insight I extracted is how difficult it is to communicate brand appeal in the financial Industry because let’s face it, mortgages, loans and account services apps aren’t as enticing as the material presented in the entertainment or travel industries. Additionally,the industry uses very specific lingo that may not be easy to understand for the common customer. Because of these two obstacles, the concepts involved aren’t typically appealing throughout the digital/social media ecosystem.

But what’s the solution to this? TV advertising, of course! And we have three very clear reasons to believe it.

First and foremost,these “Money Revolutionaries” need to face their traditional competitors within their branding realm with a big brand-awareness push, getting the message out to the massive audience and there’s no other medium that could offer such speed and scale than digital and of course TV.

Secondly, we know that the synergy between DRTV campaigns and download rates is strong without high ad spend.  Based upon the likeliness of the target market being a multi-screen user, the call to action response is more viable when the TV ad airs while having a mobile device in hand. These results are also more measurable. Having DRTV and Mobile within the marketing mix is simply a no-brainer.

Third, consumers have been losing the trust in the banking and financial sector throughout the years, and TV has been the king of media in relation to trust, giving these digital products/services the sense of reality.These new technology service providers offer new ways to manage finances, meeting the consumer’s needs and desires and moving away from the tarnished reputations of the “bad banks.” This evolution, or shall we call it FinTech Revolution, should be massively televised to build up trust!

Finally, the “cherry on top” for the FinTech data-rich and data driven industry, is that DRTV campaigns can be measured, analyzed and optimized as the “digital revolution” has brought to the marketing/advertising basics.

So for those Financial brands looking to create momentum, don’t wait anymore and contact us now! We will get your product/service where the high street banks are.

Sandra Valencia – Managing Director

sandra@modusdirect.com

Does your creative pass the Mute Test?

A lot of time is spent behind the scenes coming up with great ideas for TV spots: internal brainstorming meetings, long calls and presentations with clients, focus groups, scripting, various rounds of revisions…. the list goes on and on.  Don’t get me wrong, it is a fun process, even one of the main reasons I originally got into advertising. And, it is a vital process to make sure companies are putting the best product in the market to lure consumers into buying/interacting with their brand.

Unfortunately, many times, creative teams (and clients) get too caught up in the stories and aesthetics of the spots that they forget one simple element: Does the spot pass the Mute Test?

The mute test

The mute test you ask? That’s right! At the end of the day, your TV spot and/or video must pass the test! Why?  Because after all that effort, time, and money spent producing the spots, you need to make sure that, even with the volume down, viewers understand who you are (brand), what the story is about, and what you offer. Remember, viewers may be at home with their TV muted during the commercials, watching it on Social Media with their volume muted (default for most platforms), or at a bar or restaurant watching sports where, in most cases, only one game has the volume playing, and/or the crowd is so loud viewers may not hear the spot anyway.

Furthermore, it is crucial that your spots pass the test because you are paying for the media placements and impressions.  So instead of “wasting” those media dollars with spots that may not get your message across, make the necessary adjustments to deliver the best spot the first time.

Here is the test:

  1. Ask a person to watch your video for the first time
  2. Mute your volume
  3. Play them your video
  4. Ask them:
    1. What was the spot about?
    2. What was the brand?
    3. What product or service was offered?
  5. Publish or revise as necessary

 

An easy fix? Supers. Good ’ol supers that help tell the story; supers that highlight the main points of your message, and that are designed within your brand guidelines.

Then, put it to the test one more time.  Passed?

Want to learn more? Let’s talk! Contact us at letstalk@modusdirect.com.

 

 

Photo by rawpixel on Unsplash

How to Reach the Wealthiest Demographic: Television

Silent Generation

We see it and hear it every day, how do we reach Millennials? They consume media differently than other generations. But as you research how to target this generation, you may be missing out on what the Federal Reserve’s Survey of Consumer Finance states is wealthiest demographic with 23x the net worth of Millennials and 1.3x as Boomers. This wealthy group are the 75+ age bracket largely made up of the Silent Generation.

And this demographic is spending their money. A recent TD Ameritrade survey reported that grandparents spend an average of $2383 annually on their grandchildren and according to the Kenan Institute, Americans age 65+ are now more than twice as likely to be caring for a non-elderly family member.

So how do you reach the wealthiest demographic spending money? Linear Television. Adults 65+ continue to spend more time on linear platforms than digital. According to Nielsen’s 1st Q 2018 Audience report, 7:24 hours is spent per day watching Live-Time Shifted TV compared to only 2:28 hours on digital platforms (this includes TV-Connected devices such as DVD, Internet Connected Device and Game Consoles).

If you still are thinking you don’t need to target the wealthiest demographic, there are recent key findings on why television is vital for all demographics:

  • People are 44% more receptive to television advertising compared to 27% – 24% on digital advertising (online display, online search and video) according to Kantar Millward Brown August – November 2017 survey
  • Television is more effective than online banner ads in driving consumers to search, 57% versus 36%, according to a 2018 Nielsen report
  • 37% of the 11:06 hours of the daily average time spent per adult 18+ to connected media is being consumed on Live TV based on 1st quarter 2018 Nielsen data

Television continues to be a vital part of building brands, just ask the online retailers Purple Mattress, Adore Me, Uber and Stitch Fix who are now household names.

Want to learn more? Email us at LetsTalk@modusdirect.com and let’s connect!

 

Photo by Marisa Howenstine

Are you missing out on the Hispanic Market?

With the fast growth of the Hispanic market in the United States,  it has become more important for brands to market to that demographic. With overall population growth, higher HHI and a strong purchasing power, brands can no longer ignore that market if they want to grow their ROI.

However, it is not as simple as using traditional “techniques” used to market to the Anglo market. Latinx consumers behave different and it is the responsibility of the marketer (and their agency) to understand the Hispanic audiences first.

Hispanic Advertising

A little bit about this demographic: 

Hispanics are the second-fastest growing demographic group in the United States * and it’s a young population as for over 50% of them are age 30 years old and younger *. This specific fact should be accounted for in how brands talk and reach out to this massive younger generation of Hispanics, since the majority of this audience, although being of Hispanic background, is born in the US and exhibits bi-cultural behaviors.  With that being said, the greatest opportunity lies on a wider spectrum for creativity.  Since this demo tends to be bilingual, Creative Directors get the chance to develop messaging in “three languages”, English, Spanish and “Spanglish”. In addition to the message, it is important to tailor messages specific to the platforms where Hispanics consume media. Brands have the chance to engage them where they are “hanging out”. For instance 74.5% of the Hispanic population consume media through TV Cable and/or ADS and Hispanics are the most avid radio listeners *.

Brands are always looking for loyalty and repurchasing tendencies in their consumers and according to the Experian Simmons National Hispanic Consumer Study, about 56% of Spanish-dominant Hispanics agree that, “When I hear a company advertise in Spanish, it makes me feel like they respect my heritage and want my business.”

So, let me assure you that for the next two decades, brands that ignore the Hispanic Market won’t survive. They have to understand that this market has great growth potential; nevertheless, it remains an underserved demographic, and there’s where the GREATEST opportunity lands. It’s always a good idea to be the FIRST in doing anything. So, don’t wait and contact us; Modus Direct can become your partner in helping your business grow as never before, with our many years of experience and understanding of this Demographic Group, we will take your brand/product/service to the next level.

Sandra Valencia – Managing Director

sandra@modusdirect.com

 

*http://www.pewresearch.org/fact-tank/2017/09/18/how-the-u-s-hispanic-population-is-changing/

http://www.pewhispanic.org/2016/04/20/the-nations-latino-population-is-defined-by-its-youth/

http://fliphtml5.com/ifva/rjjy/basic

Photo by Omar Lopez on Unsplash

Why Ask Why?

Do not stop to think about the reasons for what you are doing, about why you are questioning.  The important thing is not to stop questioning.  Curiosity has its own reason for existence. One cannot help but be in awe when he contemplates the mysteries of eternity, of life, of the marvelous structure of reality.  It is enough if one tries merely to comprehend a little of this mystery each day. Never lose a holy curiosity. Try not to become a man of success but rather try to become a man of value. He is considered successful in our day who gets more out of life than he puts in. But a man of value will give more than he receives.”  ~Albert Einstein

Why ask why?

Had Albert Einstein and many others not asked all the question he did, where would we be today? We are not rocket scientists or philosophers in advertising, but it is equally important for us to ask questions to truly be the best partners that we can be.  Agencies need to be asking clients questions, clients need to be asking agencies questions and agencies need to be asking their vendors questions.  One of my mentors instilled in me to always ask at least one question in every meeting you’re a participant in.

Clients to Agencies

Clients should be encouraged to ask questions!  Here at Modus we love an open dialog and enjoy educating our clients because as both client and agency become more educated results get better.  Clients ask how media works if you don’t know!  We love to help our client feel more comfortable and confident with how your marketing budgets get spent. Asking questions strengthen the relationship and eliminates any confusion between client and agency.  If you don’t know how that Local Break works, ask! We will gladly impress our knowledge on to you.  Ask your agency if who will be working on your account and what their credentials are.  Ask about the strategy behind the creative execution?  It is going to be effective or will it just earn that agency another creative award. Ask what type of reporting you will receive and on what frequency.  You should ask what types of clients the agency likes to work with, what makes a good client?  What is the agency’s culture, and would that mesh with yours so the relationship can be effective and enjoyable?

Agencies to Clients

Agencies should be asking clients TONS of questions especially in the beginning of the relations, but if the questions don’t continue the progress and growth will stall.  Asking questions keeps the line of communication open and you know that the agency is engaged in your business.  Agencies ask for as much data as we can possibly can.  This isn’t because we are nosey, it is because the more information we have you’re your business the better decisions we can make.  We will ask you for ALL of your marketing spending even on tactics that we don’t control, the reason why is that we can create predictive models, so we are able to see how our efforts effect the overall business because in today’s marketing world it is more difficult to convince someone to pick up the phone. Here at modus we will ask if your call center can handle Spanish speaking calls, we will ask about particular markets and how each of them are individually performing.   We will ask what your goals are, what data you already have on your consumer base, what have you tried before, what your successes and failures have been?   And yes, I said failures, because without some failure there is no growth.  If you have any type of testing strategy, then you would have experienced success and failure.

I could continue to list questions that should be asked, but then you will be sitting there asking yourself why am I spending this much time reading this blog!  There is always something that can be done better, collectively agencies with clients grow business in an active partnership. If you have questions, call us, (941) 552 6770!  We will gladly answer your questions.

4 Reasons Why Your Company Should Do a Media Audit

You may be thinking, I don’t have time to read this blog let alone request an independent media audit, I know my media is airing exactly what I approved. Or you may be thinking, I know my media isn’t perfect but is anything perfect? I will tell you in four words why you need an independent media audit– Trust, Financial, Goals and Competition.

1. Trust –
Trust isn’t just in the people who are buying your media whether internal or with an agency, but also with the numbers they are providing to you and ultimately you are providing to your C-Suite.
Ask yourself these questions:
• Are you confident these numbers are accurate?
• How transparent is the media you are purchasing?
You may receive affidavits, but do you have the time and resources to review each one individually to confirm your media was correct and aired correctly? Was a national break reported when instead it was a national break covered up by 80% of the country?
Trust is also about trusting your media buyers to keep current with your competition. Allowing you to cut through the clutter and gain market share on the competition. You may find your competition isn’t even airing on your most successful network and now is the time to dominate the network, before they do.

 

2. Financial –
Media expenditures are expensive! How can you justify this type of expenditure without an audit? Think of your media audit as important as your company’s financial audit. An audit puts doubt to rest, doubt for you, doubt for your superiors and doubt for the C-Suite. The audit may find some waste but also opportunities to reallocate the waste. Ultimately this will make you look like the hero for finding areas to better use your media dollars

3. Goals –
We understand goals can vary by subsidiary but also by different products or divisions. And with all these variables is your media reaching the correct target(s)? Have you thought about if your media is diverse enough to reach all the demographics needed to achieve not only your media goals but your corporate goals? Do you need to reach not only Millennials but multicultural Millennials? Are you airing on the optimal networks, dayparts and days of the week? After reviewing a media audit, you may find niche demographics you are not yet reaching, and those demographics could exceed your company’s financial goals.

4. Competition –
Your competition is also reading this blog. Don’t you want to schedule your media audit before they do and take away market share from you?

The Modus Direct Free Competitive Television Media Audit includes a 2-year review of your top two competitors. Modus Direct needs your email address, your phone number, your company’s name and your top two competitors and within 5-10 business days we will review our findings with you on a pre-scheduled call. For more information or to sign up for your free report please visit: https://modusdirect.com/competitive-review or contact Jean Rebel at jean@modusdirect.com or 941-552-6770 x104 for more information.

TV is More Alive than Ever!

TV is More Alive than Ever!TV is more alive than ever!

People say “TV is dying”, however, in truth, TV is more alive than ever. It continues to be the biggest mass media channel and the “go-to” for brands that desire to make an impact in the marketplace and spread their message to as many people as possible at once.  Before you say “nah..”, have you seen the Facebook Ad apologizing for their latest botch with Cambridge Analytica? I am sure you did.  How about the re-branding of Wells Fargo claiming “Established 1852, Re-established 2018”? No?  Oh wait, how about the new Nike ad with Colin Kaepernick?

Are you still thinking that “TV is dying”?  I bet not.  Millions of dollars have been spent on TV advertising for each one of these campaigns. Why? Because even the most sophisticated online brands like Facebook realize TV still reaches the masses in a cost-efficient way.  They acknowledge the power of TV in their media mix as one of the most (if not the most) impactful of the media channels in terms of reach and social impact.  In addition, TV is entrenched in our day to day lives, including our water cooler conversations, our shared social media posts, etc.… I know I’ve heard my share of talks around Walking Dead, Shameless or America’s Got Talent. Have you?

So, whether you are consuming TV programming via linear TV or via OTT options like Hulu,  Roku, Sling or Video-On-Demand among others; trust me, TV is more alive than what we give it credit for.

Is TV in your media mix? If it is, are you maximizing it? And if it is not, I invite you to reconsider AND we should definitely talk.

Email us at LetsTalk@modusdirect.com or call us at 941-552-6770 today!

Don’t get caught up in the big data hype. It could be costly.

Don’t get caught up in the big data hype. It could be costly.

Since 1994 I have been reviewing the performance of client advertising campaigns – mostly direct response.  In 1994 campaigns utilizing direct response principles were typically direct mail, television (with a TFN only), print and radio. In those days, tracking performance was relatively easy, and WOM (word of mouth) attribution was simply part of the formula. Analyzing business growth, and the contributions to that growth, over distinct periods of time was simply part of the formula. Today, with web, text, social, search, phone, WOM to name a handful, it has made tracking the effectiveness of distinct media channels even more cumbersome.  What I always come back to, however, is the foundation of my direct response upbringing. The foundation is developing a method, agreeing on it with your client, and then executing a model built on baselines and collaboration. This is all regardless of the response mechanisms in which you are tracking. This is all just about the math.

There are many companies that are charging clients hundreds of thousands of dollars to provide insights into the impact television has on their business, but it just isn’t necessary. The findings that direct response professionals have been providing for decades continues to hold true, and the good television experts don’t charge extra for it.

I often reference an experience I had reading a case study that was done by Google on a well know brand. The brand utilized the Google 360 platform to test the creative performance of a campaign. The case study video testimonial delivered a compelling message to viewers as to the test environment and the methodical nature in which Google set up its test. This was not something that was revolutionary for me, this was basic stuff. In fact, we have been doing this for our clients since I have been in the business – since the 90s. We have never charged our clients to simply do our job – which is run the most optimal media, at the best times with the best creative. We constantly challenge the controls and change strategies and measurement based on the trajectory of the business and what the data is telling us.

I know different people can interpret the same data in different ways. But, if everyone is aligned on the method, and all parties are interested in the truth, then the end analysis should always be the same.

At the end of it all, don’t get caught up in the hype. You don’t have to pay hundreds of thousands of dollars to find the truth in the data. The truth is already there – you simply need a partner, who is also interested in the truth, and has the expertise to help you find it.

We Believe in a Balanced Scorecard.

We believe in a balanced scorecard. Why? Because it is what is best for our client’s.

 As direct response television experts we are constantly challenged with “why television”, “why not put it all in digital”. We also hear a lot about how no one is watching television anymore. Well, if that was true Facebook would not have just launched a TV PR ad campaign to try to fix their privacy/consumer trust problem. Television continues to have the highest reach of any other media. Period. Are the patterns of how people consume video changing, absolutely! That is why the way we purchase television aka video has changed and must continue to change. We buy more VOD than ever before. We take advantage of DSPs more than ever before. We buy more Hulu and Roku than ever before.

Despite all of that, this article is to provide some up to date trends from IAB, VAB and other sources on how TV and digital media work together to make a positive impact on an advertiser’s business. We also provide some stats on media usage/time spent. And last, we provide some debunking of cord cutting.

Enjoy!

1. TV and Digital Executed Simultaneously Drove the Most Impact for Awareness, Familiarity, Opinion and Intent

2. Television continues to have the highest daily media consumption.

 
http://www.nielsen.com/us/en/insights/reports/2018.html?q=*&q_10=listing&q1=Report&x1=contenttypetag&pageFacets=Report&defaultSearchText=&x3=categorytag&q3=Media

3. What are Adults doing any given minute? 

4. Cord Cutting – Don’t believe the hype.

 MYTH:  

Pay TV subscribers will drop cable services for more affordable Over-the Top (OTT) options like Netflix, Hulu and YouTube.

REALITY:  

83% of TV households watch cable – steady over the past 15 years

71% of US TV Viewers are “cord stackers” – subscribing to Pay TV and streaming services. Streaming-only customers account for only 11% of viewers.  One of the reasons cord-cutters were liberating themselves from the shackles of cable was the cost of cable. In order to fulfill the viewing needs many are now having to subscribe to multiple paid streaming services – inching closer to the cost of cable.

 

 

 

Top 3 TV Strategies any Healthcare Organization can use to Build Loyalty, Awareness, Engagement and Ultimately Bring in New Patients.

Top 3 TV Strategies any Healthcare Organization can use to Build Loyalty, Awareness, Engagement and Ultimately Bring in New Patients.

All three of the below strategies are the foundation of a strong television campaign. The execution of a direct response television campaign is built to cost effectively build your brand, awareness, loyalty, engagement and deliver more patients to your institution. For over 30 years healthcare brands have been profitably utilizing direct response television (DRTV) to advertise their hospitals, clinics, healthcare institution, medical equipment, health insurance plans and/or surgery centers.

1. Formula Based Creative


a. Creative developed around the brand promise providing a compelling/arresting opening
b. Capitalize on the healthcare organization’s reason to believe. This can be most effective with testimonials and/or expert endorsers. Cultivate a creative strategy that demonstrates and rejoices the challenges the consumer may face every day and then why your brand is the solution.
c. Develop creative that builds on the brand to maximize loyalty and buying behavior resulting in competitive differentiation and market share growth
d. High-impact visuals to cement the campaign with physicians and potential patients
e. Provide a call to action and offer that is meaningful to the consumer. For example, a free MRI review, no obligation consultation, free treatment, call or go online to find out more; or many other options that would be relevant to the specific brand.
f. Encouraging consumers to visit your website is critical to growing your brand engagement. Ensuring the consumer experience is seamless, easy, informative and best represents your brand promise is imperative.
g. Companies such as AARP, Shriners Hospital for Children, Moffitt Cancer Center and Laser Spine Institute are just a few healthcare brands that deliver on this creative foundation.

2. Cost Saving, Targeted Media

a. Develop a media mix with television (video) as the champion because TV delivers the highest reach. Surround television with a suite of other media that best fit the goals, budget and target sets of the organization.
b. Purchase programming that profiles the target demo and programming/ pricing that is supported by extensive research.
c. With local market goals, focus on key locations, including near facility and competitors in order to have a high-impact to continually emphasize the campaign.
d. If the company has the ability to run national television (video) develop a national campaign with goals developed specific to the targets and individual executions specific to those targets. National cable delivers CPMs (cost per thousand) substantially lower than local TV media therefore if the advertiser has the ability to air media nationally they should air nationally. The goal should be to deliver a CPM under $5.00 with a national cable television plan.

3. Implement Tracking Mechanisms and Baselines prior to any media launch.

a. With the call to action and offer clearly defined in the creative, the foundation of the analytics should take shape. Whether the institution is tracking a lift in responses to their website, growth to walk-in traffic, growth in new appointments or overall growth in new patients, the metrics should be set up and tested prior to campaign launch.
b. Real-time access to the performance of your campaign is going to be critical as you monitor your media spend. Media optimizations based on the analytics should be occurring daily to ensure you reach the goals you established pre-launch. Ensure you have access to your data and performance in a format that is usable to you.
c. A baseline of your business before campaign launch commands attention, and thoughtful time. This baseline is going to provide the starting point to prove all the hard work has paid off. Constant monitoring and evaluation of real-time performance against your baseline will provide leadership the evidence that the campaign you have invested funds and resources has more than paid for itself.
Direct Response Television (DRTV) has been accountable, predictable and actionable since the 1980s and continues to deliver on that promise. For brands that are especially scrutinized to be fiscally responsible there is no other television execution for them other than direct response television (DRTV).

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