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Three Psychological Pitfalls Marketers Should Avoid In 2021

By Norman Guadagno, CMO, Acoustic

A year in quarantine has changed consumer psychology and the rules of engagement for marketers. From dealing with isolation to significant economic uncertainty,  it is no surprise that depression has doubled for UK adults throughout the last twelve months. 

As the UK lockdown starts to ease, people are grappling with the conflicting emotions of desiring connection with each other on the one hand, yet remaining wary of too much close contact, too soon. 

For marketers, this means both adapting their 2021 plans to today’s “new normal,” contactless world, while ensuring that empathy and connection remain at the core of every communication. To accomplish this, we must all avoid the following pitfalls. 

Don’t mistake empathy for disingenuity 

We’ve all heard the same phrases a dizzying number of times by now: “These are unprecedented times,” “Stay at home, save lives,” and “We hope you’re doing well in these trying times.” For many brands, these empathetic phrases served as a pseudo-obligatory acknowledgement of current events before diving into sales-driven messaging. But for consumers, these messages quickly became white noise, a reason to ignore the communication altogether.

Data from Acoustic’s analysis of email marketing from January to May 2020 reinforces this. While open rates in the UK and Ireland increased by 19% in March versus January as consumers scoured for information on how to safely buy essential supplies and support their favourite businesses, click-through rates and click-to-open rates, on the other hand, remained relatively flat. This signals that emails with “An important message from our CEO” piqued curiosity but did not incite action or engagement. 

For marketers, the takeaway is clear: Show, don’t tell. Find creative ways to make it clear you genuinely care about your customers, without falling back on the same tired phrases. As marketers, we should emulate rigour. Our messaging should be clear, transparent, and to-the-point. The rest is just white noise. 

Stay connected with your audience 

Regardless of whether you’re a B2B or B2C brand, it’s important to remember marketing should not be a one-way street. The best marketers foster community and connection, which are vitally important in today’s context. For many consumers who are working from home, the marketing communications they receive may be some of the only forms of communication they have with the outside world in a given day, besides work and the news of the day. This gives marketers a golden opportunity to search for ways to spark conversations with and amongst their target audiences. 

After all, the pandemic has all but eliminated the small talk and water-cooler conversations that play a key role in keeping us happy and productive at work. In today’s stay-at-home world, many of us have replaced these innocuous conversations with scrolling through social media or “forced fun” like workplace happy hours on Zoom. We have less opportunity to opt-in to small talk, but brands can change that. Marketers should embrace new ways they can foster conversation and community through social media, message boards, or other means to create a sense of normality for their consumers. 

Don’t get too close 

It’s one thing to leverage consumer sentiment and personal data to make your communication more personal and relevant. It’s another thing altogether to get too granular that you prompt concern about misuse of that data and abuse an individual’s sense of trust. 

It’s a bit like dating in today’s online world, where finding out about someone is seemingly so easy. It’s almost second nature to Google your date or look them up on Facebook or Instagram to find out more about them beforehand. But would you ask them about their holiday to Croatia the year before last that you found out about? Of course not. At least, I hope not….

Marketers face a similar conundrum. We may have psychographic data about our consumers, but should we use it? And if so, how? Marketers should devise new approaches that allow consumers to be more involved in granting permission to use their data on their terms. Allowing them to actively curate information about their likes and dislikes, in exchange for a better value proposition — a better brand experience — a “give to get.” In this scenario, an informed consumer is acknowledging that a brand may want to learn more about them — and then taking things a step further by cultivating information about themselves that is relevant for brand marketers to know. In the coming months, marketers should think about how to tailor this approach to psychographic profiling to keep their communications empathetic and connected to a consumer’s personal identity. 

Ultimately, marketing and dating can be surprisingly similar. Marketers always want to keep consumers engaged and keep them coming back for more, which requires a delicate balance of reaching out to the target audience without overreaching. As marketers plan upcoming campaigns, we must avoid the artificial genuineness, one-way communication, and overt psychographic profiling that can be so off-putting to consumers. If not, those consumers just might say, “This date is over,” stand up, and leave. 

Norman Guadagno is CMO at Acoustic, an open, independent marketing cloud.

Top trends to watch out for as marketing investment makes a comeback

By Saranya Babu, Senior Vice President of Marketing, Wrike  

There is no doubt that last year had its challenges. With the economy at rock bottom and the majority of businesses facing severe financial hardship, marketing departments across the world felt the pinch. Industry-wide cut-backs resulted in a dramatic decrease in spending throughout the year, accumulating in the fourth quarter with 24% of marketers recording a further decline in budgets as a result of the pandemic.  

However, with new vaccinations bringing the hope of recovery – both in terms of the country’s health and economy – the marketing industry is preparing to bounce back. After spending 2020 in crisis mode, many are ready to boost their investments. Earlier this month, the CMO Council found that 65% of marketers plan to increase their marketing spend in 2021.  

The challenge for marketers moving forward will be knowing where to spend that money. Despite future prospects looking bright, the road to recovery is likely to be a long one. There is no guarantee of success, and marketing teams must ensure that the tactics and strategies they choose to deploy deliver the ROI (return on investment) they need.   

Yet, with so many trends and the naturally fast-paced nature of the marketing landscape, it can be difficult to know what to focus on. Although the future is impossible to predict, there are three areas that marketers should take note of this year:  

1) The face of content marketing will change  

Content marketing has long been considered one of the most effective ways to increase audience engagement and develop a brand presence. However, in recent years, we’ve seen a noticeable shift away from its traditional written format.   

Although blogs and whitepapers will remain an important tool for brands wanting to communicate to their customers, the majority of today’s consumers are really after something a little more digestible. This is where video content, in particular, is set to play an important role. In fact, The Content Marketing Institute recently discovered that 71% of B2B marketers and 66% of B2C marketers already use this format to connect to their audiences. Whether in the form of short tutorials or live webinars, we can expect to see even more video content moving forward.  

If this video content is to be a success, we need to apply the usual principles when it comes to personalisation and the consumer journey. Today’s consumers expect more targeted and relevant marketing than ever before, with 66% admitting that encountering non-personalised content would stop them from making a purchase. Therefore, the most successful material will target customers directly and offer true value, without trying to explicitly sell them anything.  

2) Search intent will matter most when it comes to SEO  

We all know that SEO is one of the most important ways a brand can drive traffic to its website. The higher a page ranks on a search engine, the more likely users will click on it and begin that initial interaction.   

In the past, some have relied on keyword stuffing and other dicey strategies to boost their ranking. However, Google has worked hard to improve its algorithm over the years. So much so that it can now determine the search intent behind a specific search query. Whether a user is looking for information about the weather or searching for a product to buy, Google will rank its results based on what it thinks the user wants to see.   

This, in turn, makes it really important for marketers to focus on the end user and their search intent. Regardless of what marketing collateral is being produced – whether written or video – teams need to ensure that it is relevant to the user’s search query. That might mean making sure your landing page is informational as opposed to transactional, with links to separate sales pages for those looking to buy.  

3) Virtual events will become the norm  

When the pandemic hit, in the interest of keeping people safe and limiting the spread of the virus, industry events and tradeshows across the world were put on hold. For many, the solution was to go virtual. Surprisingly, this monumental change has brought about some positive results.   

Companies have found themselves saving money and time. Meanwhile, the pool of potential invitees and attendees has exploded, as people from across the world can instantly join without even having to think about travelling. This virtual landscape also enables marketers to collect valuable feedback and measure results in order to inform future events. Speakers can insert real-time polls or surveys into their presentations and it becomes much easier to gather certain data – such as number and location of attendees – when everyone logs on online.   

Even when things do return to normal and physical events are able to go ahead, the likelihood is that this virtual trend will continue in some format. In fact, 80% of people predict that in-person and virtual events will co-exist moving forward. Therefore, marketers need to prepare themselves for a hybrid future.  

Making the right choices  

The role of the marketing team has never been more important. In today’s climate, implementing the most effective marketing tactics and strategies could be the difference between an entire business surviving or collapsing.  With this year promising an increase in budgets, marketers need to ensure that they are making the right choices and setting themselves up for future success.   

Regardless of what trend the team decides to focus on, the key will be to think carefully and monitor efforts in order to understand what works best for the wider business and its key audiences. It is only then that marketers will be ready for whatever comes next.   

Listen to your customers: Five marketing lessons 2020 has taught us

2020 has been a challenging year for all businesses and has certainly kept marketers on their toes. We saw massive societal change due to the Covid-19 pandemic but also with events like the Black Lives Matter movement which have had a significant impact on the mood of the nation. Brands have had to quickly pivot their approach to respond appropriately. 

So, what has this year taught us? How can marketers prepare themselves for what is looking likely to be an uncertain start to the year ahead? Stefan Britton, CRO, Datasine considers the lessons marketers have learnt from 2020 about customer engagement….

  1. Brands must be on good behaviour 

In 2020, we saw many brands realise the hard way that their behaviours are just as important as their marketing campaigns, and we’re increasingly seeing consumers shun brands that don’t behave. We saw Wetherspoons meet a barrage of criticism when it withheld payments to 43,000 staff until it received the Government’s furlough payment. As a result of this backlash, the pub chain soon reversed this decision and promptly paid its staff. Fashion brand, Boohoo, was also called out when questions were raised about poor working practices in their supply chain. These claims came at a cost to its reputation, and damaged relations with other retailers who sell the brand. 

Businesses are clearly being held accountable for their actions by consumers – perhaps now more so than ever before – and it’s important to be mindful that it’s not just their online behaviours that are being judged. Social media has given audiences a very loud voice and long memories and good marketing can’t outrun bad behaviour.

2. A move to mobile  

New habits were formed during lockdown as online shopping became more of a ‘lifeline’ than lifestyle choice. Online sales are expected to account for 27.5% of total retail sales this year, and no doubt the impact of lockdown on the high street will continue to be felt far into the future.

The conversion rates from desktop devices are typically twice as high as they are from mobile devices, however this year, there’s been a significant shift to mobile online shopping (mcommerce) with more people being at home and using their mobile phones to shop. 

Brands need to look at the mobile experience they offer their customers because consumers expect a common experience, no matter how they engage with a retailer. Help customers engage in whichever way they want to.

3. Intelligent analysis of data

Research we undertook in 2020 showed that only 46% of marketers are using their data effectively to inform their future campaigns, yet 100% acknowledge that harnessing customer data more effectively could boost the success of these campaigns. 

Effective use of data enables marketers to move from insights to action and make quick decisions on the journey they want to take their subscribers on. Alongside this, marketers need to have a better understanding of exactly who their customers are – that’s a piece of data in itself. We frequently see big brands with multiple CRM systems and multiple points of entry for data collection, and no single view of their customers. 

Data can tell us a lot about our customers. Digging into this data more deeply will enable marketers to understand why, how, and when people make the decisions they do.

4. Tell us what you want

report from EY shows that the Covid-19 crisis has boosted technology engagement for 21% of households but less than half (44%) now feel in control of their personal online data. Consumers’ growing scepticism about use of their personal data is making access to crucial customer insights increasingly difficult. To provide customers with the personalised experience they have come to expect, many marketers are now looking for ways to engage with them more directly. 

It’s ok to talk to customers and canvas their opinion about how they want you to sell to them. If your customers know that you want to learn more about how to keep them happy, chances are they will respond. Ask them questions and opinions on the marketing activities you have planned. For example, ask them about how receptive they would be to discounts on certain products, or if they feel you need to make improvements to a current product set. 

Once you’ve embarked on this journey to get to know your customers better, keep this dialogue open and try to speak to them as often as you can. For example, you might decide to change brand identity – ask customers what they think and involve them in the decision-making process.

5. A place to listen, not just shout

Facebook is evolving as a platform, and the introduction of the Business Suite and improvements to brand safety options are just some of the enhancements we’ve seen. Next year, I expect to see more brands using the platform to create communities rather than just using it to promote products. Facebook, is no longer just a place to advertise and shout about how great you are, it’s become a platform for listening and learning more about customers.

Marketing professionals need to brace themselves for another bumpy ride in 2021, and as the only constant currently is change. If 2020 year taught us anything, it’s that it is more important than ever before to listen to our customers. 

How intelligent technologies are helping marketers predict challenges during the Covid-19 pandemic and beyond

By Saranya Babu, Senior Vice President of Marketing, Wrike

Marketing is undeniably one of the most important aspects of modern business strategy. Whether it’s developing a unique brand image, or carrying out specific campaigns to attract the right audience, the activities of the marketing department are at the centre of driving growth and revenue within any organisation. 

This year, marketers have been presented with an entirely new and unexpected challenge – how to navigate a global pandemic. The economic uncertainty surrounding this ongoing crisis has forced many businesses to redefine their brand identity, in order to distinguish themselves from their competitors and survive. 

While many businesses are accustomed to crisis management, the scale of this pandemic calls for a more comprehensive approach. In order to truly speak to their audiences during these unprecedented times and beyond, marketers must focus on developing a meaningful and consistent brand image, with each and every project being a success.  

Make no mistakes with integrated insights

With businesses of all shapes and sizes facing a long road to recovery, tough decisions are being made across the board. Unfortunately, many marketing departments are bearing the brunt of industry-wide cut-backs. In fact, dips in business revenue have resulted in the largest ever decline in spending, with over  41% of UK firms  reducing their marketing budgets in the third quarter of 2020 as a direct result of the pandemic.  

During this time of turmoil, instant access to real-time performance metrics within existing work management platforms is essential for marketing teams, especially given the speed at which things are changing. The ability to examine the progress of ongoing projects and campaigns, their strengths and weaknesses, as well as potential areas for improvement can improve the chances of a successful outcome. 

After all, marketing is dependent on the ability to juggle several tasks at once. This is a lot easier said than done when multiple ads, email, and social campaigns are running simultaneously. Operating on outdated information – even by a day or two – can adversely affect the final outcome of a project. Moreover, as the remote work era continues, visibility will become more important than ever before. The lack of face-to-face communication demands accurate performance metrics in order to track and analyse a campaigns’ progression at any given moment.  

Ahead of the game 

Many different things can derail a project. Additional costs, failure to meet deadlines, or unplanned modifications can all have a negative impact and, ultimately, cost a business – especially in our current landscape. In order to increase the likelihood of success for a project and limit any potential risk, marketing teams should look to predict and plan for a series of different possibilities from the offset.  

This is where modern technologies – such as artificial intelligence (AI) and machine learning (ML) – come into play. These technologies can pinpoint at-risk projects and provide an early diagnosis, so that teams can take necessary action to minimise risk and solve any potential challenges before they even occur. By recognising signals and patterns based on hundreds of factors, including past campaign results, work progress, organisation history, and work complexity, the insights provided by these technologies can help to salvage entire projects. 

With intelligent insights readily available, marketing teams can work towards prioritising matters of high-importance, such as mitigating and managing risk. This can be done by evaluating a project’s ‘risk tolerance’. In other words, how much can you allow before you need to act. This is a crucial step in any project management process, enabling marketers to choose the most effective response and ensure that resources are being used in the most effective way.  

As competition rises and budgets shrink, marketing teams are under increasing pressure to deliver. Connecting with desired audiences through brand consistency, strong messaging, and impactful campaigns is still important. However – thanks to the increased pressures brought by the pandemic – there is no longer any room for error. Therefore, guaranteeing all activities are on course and risk is at an all-time-low must be a priority. While there isn’t a single ingredient for success during these unprecedented times, integrated insights and AI and ML technologies could play a significant part in enabling marketing teams to predict and mitigate any possible risks ahead of time. 

3 Quick-Wins to Improve Your Online Strategy

With the national lockdown ending Wednesday 2nd December and the new, more rigorous tiered system taking full effect, the push to drive traffic online is imperative, especially for brands looking to circumnavigate disaster and get on the path to recovery this most crucial Christmas trading period. Without the possibility to engage shoppers in-store, the need to develop effective customer strategies for digital channels, at speed, is vital.  

To help you revolutionise your online strategy – quickly – Go Inspire are providing our top 3 quick wins…

1. Truly Understand the Performance of Your Online and Offline Media Mix 

Having the confidence to adjust, reallocate or drop marketing investment for specific channels in the media mix can often be difficult for marketers, particularly when hard evidence of customer profitability and channel and campaign performance is lacking.

Imagine spending £thousands on Paid Search only to find out later that those individuals would have come to you anyway via another channel 

Ideally you would be able to demonstrate the profitability of marketing spend and business growth delivered by targeting the right individual, at the right time, with the right message using the right channel.

Digital Playback is a marketing attribution platform that maximises return on investment by highlighting when an individual is in-market, and which channel will be most effective in converting your live opportunities. 

2 things that Digital Playback achieves:

  • It chronologically clusters all interactions a known or unknown individual makes across all channels and devices to highlight the role of each media channel in the sale.
  • It also segments individuals based on engagement, value bands and channel preference to give a true measurement of incremental performance and to deploy more responsive real-time or planned campaigns.

With this new understanding of the whole customer journey you can build more effective marketing campaigns by investing in the activity that is truly working. For example, if your annual budget is £1million on Paid Search, you could typically save £150k immediately.   

If you’d like more information, simply click here and complete the short form to register your interest. 

2. Cut through the clutter and respond quickly to your known customers online actions with offline marketing.

As marketing budgets decrease, the overriding impulse may be to sacrifice quality for quantity and the physical for the digital. 

But before you put your faith in a display ad campaign with a forecasted 5,000,000 reach and 0.01% CTR, please ponder the recent JICMail and Royal Mail MarketReach research showed that a record 96% of mail was engaged with in Q2 2020. 

When you factor in that online traffic driven by direct mail increased by 70% YOY and online actions, taken as a result of receiving mail, increased by 64% since Q2 2019, its difficult to deny the role direct mail should be playing in your marketing mix. 

To facilitate this even further, direct mail manufacturing technology has now evolved to the point where it’s possible to achieve a realistic price point for standard format pre-templated mailings, for volumes as small as one record. 

Timely AlwaysOn communications can be triggered by any predetermined event in your customers’ online journey, such as repeat website visits or items being added to an online basket but not purchased. 

When an AlwaysOn approach was adopted by JD Williams and trialled alongside email, they saw a 14% increase in abandoned basket conversion using trigger mail, a 6% increase in response rates, and an 8% increase in average item value. 

One application could be to act quickly to communicate with customers in stores affected by local lockdowns, about product availability or changes to in-store services and drive them to online pages, solutions or services, rather than see them look elsewhere, to competitors, for their requirements. 

3. Improve acquisition and drive traffic online with targeted door drops

Win new ideal customers by using targeted door drops which research from JICMAIL shows are opened 74% of the time and interacted with, on average 2.8 times. 

Using advanced targeting you can reach households that match your desired profile. Find people within driving distance of a specific location or from particular demographic groups (e.g. age, location, household consumption etc.)

Door drops have evolved and are now much easier to execute. This is because end-to-end management and production of your highly targeted door drops can include insight, identification of target audiences, design, production and distribution, all in one place.

A bit about Go Inspire

At Go Inspire, we work in partnership with you to revolutionise communications strategies within your business and the relationships you have with your customers.

For over 25 years we’ve helped our customers live by the mantra “right person, right time, right message” and as technology and customer demands have evolved, we’ve ensured “right channel” has been added to that mix. 

If you’d like any support or expert advice in delivering any of the above, simply fill in the form on this page and a member of our team will be in touch. 

SME confidence holds firm ahead of Christmas period

For the first time this year, small business confidence has held firm from one quarter to the next – with marketing services sectors seeing growth forecasts rise on Q2 levels.

After the Government announced its three-tier Covid restrictions, new research suggests the avoidance of a second national lockdown and certainty of direction until March has had a positive impact on UK small business confidence.

The findings come from a rolling study from Hitachi Capital Business Finance that has tracked small business growth forecasts every quarter for the last six years. Before Covid-19 struck – and even during the period of the Brexit vote – the percentage of small businesses predicting growth for the three months ahead stayed at between 36-39% for six consecutive quarters.

In April 2020, this crashed overnight to just 14% of small businesses predicting growth. 

The UK’s re-emergence from lockdown in July 2020 saw a sharp resurgence in confidence, with the percentage of small business owners predicting growth for the next three months doubling to 27%. The latest data conducted this week by Hitachi Capital reveals that the percentage of small businesses predicting significant and modest growth remains unchanged since summer months (27%). Further, the Q4 data reveals the third consecutive quarter where the percentage of small businesses fearing collapse has fallen – down from a high of 29% in Q2 2020 to a current figure of 12% for Q4 2020.

Joanna Morris, Head of Insight at Hitachi Capital Business Finance, said: “Despite the changed context from the summer months, with Covid numbers now again rising sharply, our data suggests small businesses are reacting positively to the current circumstances. The avoidance of national lockdown and the consensus that there will be restrictions through until March has at least given small business owners a degree of certainty against which to plan. 

“Our figures for 2020 show that small business confidence has had sharp rises and falls since the pandemic struck. Our new research conducted the day after the Government’s announcement on three-tier restrictions gives the first reaction from the small business community. The stabilising of confidence levels between Q2 and Q3 is a really important development as it suggests smaller enterprises (that can operate) are adapting to the new reality – and accept the prospect that we may all be in for a long-haul fight against Covid.” 

By sector the research also gives a welcome boost for the high street. Ahead of the critical Christmas period, there was a marked rise in the proportion of retail small businesses predicting growth (up from 27% to 35% in three months). The property and marketing services sectors also saw growth forecasts rise on Q2 levels.  

Conversely, growth forecasts in manufacturing fell sharply (down from 30% to 23% in three months) – and the hospitality sector remained in a serious position; here only 18% of small business owners predicted any form of growth, whilst 53% predicted contraction. Overall 29% of hospitality sector small businesses predicted they would struggle to survive, more than double the national average (12%).

Customer Engagement Tops 2020 marketing buying trends

Customer Engagement and Social Media top the list of services the UK’s leading marketing professionals are sourcing in 2020.

The findings have been revealed by the Digital Marketing Solutions Summit and are based on delegate requirements at this summer’s recent event.

Delegates registering to attend were asked which areas they needed to invest in during 2020 and beyond.

A significant 73% are looking to invest in Customer Engagement, followed by Social Media and Marketing Strategy (both 70%).

Just behind were Lead Generation & Traffic (63%) and Email Marketing (60%).

% of delegates at the Digital Marketing Solutions Summit sourcing certain products & solutions (Top 10):

Customer Engagement 73%
Social Media 70%
Strategy 70%
Lead Generation & Tracking 63%
Email Marketing 60%
Content Management 57%
Conversion Rate Optimisation 57%
CRM 53%
Online Marketing Campaigns 53%
Online Advertising 47%

To find out more about the Digital Marketing Solutions Summit, visit https://digitalmarketingsolutionssummit.co.uk.

WHITE PAPER: Direct mail for e-commerce brands in a digital world

By Webmart

The argument over whether digital marketing or direct mail is the most effective to engage customers is widely contested. There is a variety of research that suggests that one is better than the other. However, at Webmart, we believe that the channels should be used together to complement one another to get the most out of the marketing mix, increase brand awareness and boost performance. 

You will, no doubt, invest a lot of time, effort, and money into optimising your digital presence as an e-commerce brand. After all, your business is online, it makes sense to invest in ensuring your online presence is as strong as it can be, but achieving cut through can be challenging! With the support of mail, the value of your brand awareness can be enhanced and cut through can be increased. Direct mail can be incredibly effective in increasing the brand value and growing an online presence. 

With the ever-changing environment in these uncertain times, the digital market is becoming more saturated as digital use goes through the roof. Which is great news for e-commerce brands, but the cut through rate to get the reader’s attention is even harder to grab. 75% of people that have used digital for the first time have suggested that they will continue to use it when things get back to “normal” (McKinsey Digital, 2020). Which means that there is an even greater opportunity to encourage new prospects and customers onto e-commerce sites. 

To help with this, many brands are utilising traditional channels like direct mail to achieve that cut through and improve the performance of their digital campaigns. For example, mail recipients spend an average of 31% longer engaging with the brand’s social media content and remember the online content for longer by an average of 44% (MarketReach/Neuro-Insight, 2018).

Download Webmart’s whitepaper to understand how direct mail can help to increase your ROI on campaigns, and how we use the levers approach to make sure that best practice is achieved to enhance direct mail campaigns for e-commerce brands.  

Local venues and hotels join forces to launch Meet Gloucester

Key venues, hotels and suppliers from have joined forces to launch a centralised, event focused destination marketingorganisation for Gloucester.

The organisation, which will officially launch at Meet South West on 31st January, creates a hub for domestic and international buyers looking to organise events in the city.

Created to support and target association, corporate and agency event business, Meet Gloucester has the full support of the wider Gloucester City Council, the DMO – Marketing Gloucester and funding from Gloucester Business Improvement District.

Marketing Gloucester is providing seed funding and digital support as Meet Gloucester is developed by key industry partners with a desire to see the city grow its presence on both a domestic and international level as a meetings and events destination.  Local partners volunteering their time to set up and launch Meet Gloucester are:

·       Hatton Court Hotel Gloucester

·       Bowden Hall Hotel

·       Gloucester Rugby

·       Soaring Worldwide

Councillor Richard Cook, Leader of Gloucester City Council said: ”Gloucester is a vibrant and fast developing city with huge potential for growth within the meetings and events industry.  Meet Gloucester will provide an ideal face for the city, bringing together its key suppliers, venues and hotels as we look to increase not just our offering but also the number of delegates coming to experience all we have to offer.”

Further information on Meet Gloucester will be available via www.meetgloucester.co.uk as well as social channels on 31st January, 2019.

STUDY: TV THE ‘LEAST RISKY’ MARKETING CHANNEL

Linear TV advertising and Broadcaster VOD (BVOD) are the least risky forms of advertising, delivering just 20% of variance compared with the median return.

That’s according to research from TV marketing body Thinkbox, Gain Theory, MediaCom and Wavemaker, released to support a new cross-media optimisation tool based on its findings.

The ‘Demand Generation’ study is an econometric analysis of £1.4 billion of media spend by 50 brands across 10 forms of advertising over three years. It offers wide-ranging advice to marketers on how to maximise short-term advertising return without sacrificing sustained base growth. 

The study has also isolated the principle variables that impact advertising effectiveness, and these have been used to create ‘The Demand Generator’, a new tool that enables marketers to determine the optimal advertising media mix specific to their business and its objectives.

Key findings include:-

  • The variability of returns differs significantly across different forms of advertising
  • Linear TV advertising and Broadcaster VOD (BVOD) are the least risky forms of advertising, delivering just 20% of variance compared with the median return
  • By comparison, Online display, Cinema, Social media and Print advertising all have a variability of +/- 60% compared with the median return  
  • TV generates the highest ‘multiplier effect’ across all other channels
  • TV boosts the performance of other media channels used in a campaign by up to 54% 
  • Print, for example, boosts other channels’ performance by up to 13%
  • The average ‘multiplier effect’ across all channels is around 8%
  • This is the highest of any pure ‘demand generating’ channel, the next best is Print with 10%
  • Generic search, which straddles ‘demand generation’ and ‘demand fulfilment’ and is TV’s natural partner, delivers an average of 29% of media-driven sales within 2 weeks
  • Due to the sustained effect of advertising, during the following 6-18 months, TV goes on to deliver a further 2.4 times more sales than it generated in the first 2 weeks
  • Generic search goes on to deliver 0.8 times more sales than in the first 2 weeks and Print 1.2 times more

The new tool supported by the research – www.thinkbox.tv/demandgenerator – offers practical advice on optimal media mixes based on the key variables that influence advertising effectiveness uncovered in the research. These were identified as a brand’s:-

  • Category
  • Budget
  • Brand size (annual revenue)
  • Appeal (e.g. mass market or niche)
  • % of sales that take place online 
  • Desire to minimise risk

The Demand Generator also forecasts the likely business results of following its guidance, both in terms of incremental revenue/profit per year and revenue/profit return on investment (ROI).

Matt Hill, Research and Planning Director at Thinkbox, said: “Often we do some research, release the findings and that’s that. So it’s wonderful to create something tangible and practical based on such robust insight. We hope The Demand Generator will be a helpful springboard for the many brands that don’t already do econometric analyses of their media performance. They can tailor it to their exact needs to find the best place to start from when deciding their media mix. With marketers increasingly adopting a zero-based budgeting approach, having a tool like this should provide a great evidence-based foundation on which to build their decisions.”

Jane Christian, Managing Partner, Head of Business Science, MediaCom: “Demand Generation provides the industry with the broadest view of media performance to date. It goes under the bonnet of what factors drive the optimal media plan for a brand, with The Demand Generator helping advertisers to tailor the result specifically for their brand.”

Image by Pexels from Pixabay