“A training programme lasting 17 days, running from November 2018
to May 2019, created entirely for you or for one of your managers”
The programme is aimed at profesionals in communication and markerting who want to go deeper into their knowledge in marketing and/or digital communication.
Key admissions criteria
At least 3 to 5 years profesional experience
A perfect knowledge of English and French will be required. Courses will be given in either of these two languages.
The Executive Master in Digital Marketing and Communication proposes an in-depth development of your skills in the various areas of marketing and communication.
Adapted to the digital
The Executive Master in Digital Marketing and Communication is a comprehensive course in marketing and communication, totally adapted to the world of digital.
The Executive Master in Digital Marketing and Communication gives immediate answers to your questions, as well as practical exercises and group work tasks during the sessions.
Are you interested in learning more about this 17-day program? Register for the information session to be held on 16th October 2018 from 6.30 pm at Solvay Brussels School (42 avenue Franklin Roosevelt, 1050 Brussels) – Atrium on the ground floor. Come and listen to the free talk to be given by Hugues Rey about “Revisiting Kotler’s 4 Ps through Artificial Intelligence”. While you’re there, you can ask all of your questions about the Master’s programme. This evening is completely free of charge and includes a stand-up dinner.
In an omnichannel world, financial consumers determine what should happen at every touchpoint in the experience. Just because the journey doesn’t start and end digitally doesn’t mean that ‘digital isn’t working.’
Many banks and credit unions would call that a failure because the online and mobile channels didn’t deliver an entirely digital consumer journey. That’s not entirely true. Banks and credit unions aren’t measuring digital’s impact correctly, according to the ForeSee. They contend that an “all-digital retail delivery experience” is aspirational, but not realistic.
Financial institutions might desperately want people to use digital channels exclusively (even if they aren’t fully capable of delivering such an experience). But consumers are in charge of their own journeys, which is why ForeSee concludes that digital is working even when the journey doesn’t start and end digitally.
For instance, think about how you shop for clothes, or electric toothbrushes, or a new refrigerator. It’s increasingly rare that consumers shop for a product or service using a single channel. Take a refrigerator. If your refrigerator is ready to take its last breath, you go online and start researching different makes and models. You narrow down your search to a few. But a refrigerator is a big-ticket item and you want to touch and feel it before you buy. So, you hop in the car and drive to the nearest big-box store that carries that brand. You open and close the door, check the freezer space, chat with the salesperson. You kick the tires, as the expression goes.
You then sneak off to the lumber section, out of view of salespeople, so you can use your mobile phone to look up pricing for that model at other stores — both brick-and-mortar stores and online retailers. You return home to think about the refrigerator. The next morning while drinking coffee, you use your tablet to order the refrigerator online from the same big box store you visited the day before. You might have been able to get the same refrigerator for a few bucks cheaper, but it was reasonably priced, you trust the big box brand, and they have next-day delivery.
Your path to a new refrigerator was a complex journey involving multiple channels: online research using a desktop computer, a visit to a physical store, mobile price comparisons, and an online purchase. And in all likelihood, you are perfectly okay with that. You don’t think the process is “broken” or that any particular channel “failed” you. Each channel did exactly what it could/should do, and you leveraged each the right way at the right time.
Consumers like charting their own journey depending on their comfort with different channels, and the type of product or service they are buying. The journey for paperclips would look a lot different than, say, a new sailboat. Similarly with services, the journey to plan a family vacation would look markedly different than finding a new accountant or hair stylist. The combination and weight of online reviews vs. word-of-mouth referrals will vary greatly.
Bank and credit union consumers are no different. Their journey is complex and almost always includes multiple touchpoints. Consumers that start their journey digitally don’t necessarily complete their transaction digitally. In fact, according to the ForeSee Experience Index, Overall, nearly two-thirds (61%) of consumers start their journey in a digital channel when opening a new account, while more than half (58%) of those end up in a branch.
Where Financial Consumers Start and End Their Journey
As part of their analysis, ForeSee broke down the customer journey, comparing the starting point and end point between national banks, regional banks and credit unions. Their resulting illustrations are among some the best infographics The Financial Brandhas ever seen — telling a rich, complex story in a simple, visual format.
Consumers May Actually Like It This Way
So why does the consumer journey include multiple touchpoints? Is it because the online or mobile account opening process is so poor that people get frustrated, hop in the car and drive to a branch? Or is it because they just feel more comfortable opening an account face-to-face?
Not long ago, there was much chatter in the banking world about the “omnichannel experience” — that consumers could choose whatever channel they were most comfortable with. But the general assumption was that digital natives (e.g., Millennials) would be thrilled if they could do everything in digital channels. This, of course, is what banking executives were hoping for — that consumers would eventually migrate to digital self-service channels so those costly branch networks could be pared back. Turns out that ultimately it doesn’t really matter what you want them to do. What matters is that they are using multiple touchpoints by choice.
The mistake that banks and credits unions make is thinking that “omni-channel” is predicated on offering a consistent experience in every channel. But consumers will — and indeed many prefer — to bounce around from channel to channel, depending on where they are in the journey. Or time of day. Or even mood. They’ll select the channel that, at that particular time, seems the easiest or most convenient.
In fact, notes Jason Conrad, Vice President of ForeSee’s retail banking business, consumers who stay in one channel are actually less satisfied than those who use multiple channels. Conrad could be more blunt: “Consumers like having multiple channels.”
And according to ForeSee’s data, the particular channels they start or end with doesn’t impact satisfaction.
Measuring Digital’s Impact the Right Way
Banks and credit unions tend to approach the consumer journey as a logical progression from point A to point B, and therefore assume that consumers want to remain in the channel they started in. If a consumer starts opening an account online, financial institutions consider the consumer experience a failure if the consumer then finishes opening the account in a branch. Banks and credit unions work feverishly to figure how they can improve the digital account opening process so that consumers stay online.
Sure, you can (and should!) improve account opening; many consumers would be thrilled to finish opening and account digitally. But others would prefer to start the process online and then visit a branch to seal the deal.
So you shouldn’t measure success based on how many consumers start and end their journey digitally. Those consumers who research an auto or home loan online but who abandon their session before completing an application doesn’t necessarily mean that something is wrong with the digital experience. Digital could very well be doing what digital should be doing: allowing consumers to research products and services before buying… either online or in a branch.
“Measuring online conversions just isn’t as important as banks and credit unions like to think it is,” says Conrad. “Instead, they should measure and quantify digital’s contribution to conversions in other channels.”
When a consumer walks into a branch, you need to ask them about their journey, says Conrad. Did they conduct some research online? Did they look at reviews on their mobile device? Did they talk with friends or family? And what prompted them to come into the branch? Would they have preferred to complete the transaction fully digitally, or were they happy to research first and then come to the branch?
These questions will allow you to better gauge the success of your digital channels. And the answers enable you to determine which products and services consumers want to complete fully digitally vs. those that require face-to-face interaction. You can then focus on improving the digital experience for those products and services, and tailor your brick-and-mortar experience accordingly. If consumers want to complete a mortgage face-to-face with a lender, don’t spend time and money trying to fully automate the process when you could focus on a different product, such as online checking accounts. Using the right benchmarks lets you properly allocate resources to each channel.
Conrad believes that as long as banking providers manage and measure the experience wherever consumers interact with them in a standard and scientific way, the journey will take care of itself no matter how complex it may be.
“The consumer journey can be infinitely complex with an unlimited number of variations,” he says. “Just remember, branches still matter… a lot.”
The amount of data available to marketers using digital channels is immense. But while digital is lauded for its ability to allow brands to reach the right consumer, at the right time, in the right environment, the question remains whether it is an effective medium for mass marketing.
Digital channels are often accused of making marketers think too narrowly in their activity, meaning they sacrifice reach and long-term growth for narrow, short-term metrics.
Brands have become more acutely aware of this trade-off since the publication of Byron Sharp’s book ‘How Brands Grow’, which suggests marketers should replace targeting with “sophisticated mass marketing”.
Last year, Procter & Gamble’s chief brand officer Marc Pritchard confirmed the company was moving away from targeted Facebook advertising after calling its approach too “targeted and narrow”. P&G, however, insisted it was not planning to cut its total investment in Facebook and would continue to use targeted ads for some products, such as selling nappies to expectant parents.
Meanwhile, Mars’s former global CMO Bruce McColl has asserted that he is “not a great believer in targeting”, adding that the company’s target is “about seven billion people [≈ population of the world] sitting on this planet”. Speaking at the Advertising Research Foundation’s conference last year, he said: “Our task is to reach as many people as we can; to get them to notice us and remember us; to nudge them; and, hopefully, get them to buy us once more this year.”
Both statements would indicate that the brands are following Sharp’s recommendation to “continuously reach all buyers of the category” and move away from standard segmentation and targeting if they want to grow their business. It is often not digital that springs to mind when looking to reach people at scale.
Aviva’s brand communication and marketing director Pete Markey says there is a “sweet spot” of people the insurer wants to reach, but argues that if a business becomes too narrow, it will not be visible to customers.
Instead, he suggests the best segmentation is one the entire business can use that goes beyond targeting to focus on the experience the brand wants to give the audience.
“I see a role for broader segmentation, but I also see a role for smaller, microtargeting. It’s not one at the expense of another,” says Markey. “I’ve seen segmentation that works and doesn’t work. The danger is if it becomes the exclusive property of the marketing team, the rest of the business isn’t that interested. If you can’t use segmentation, it very quickly loses its credibility.”
IPA director of marketing strategy Janet Hull believes the natural progression is towards personalisation, driven by the rise in data generated by digital and social media.
“The insight you get from data you can then expand on, starting with the individual. That approach gives you more nuance, so you can serve creative work that works and improve the quality of advertising online and offline,” she adds.
Brands can use targeted marketing communications to deliver personalisation, which drives increased engagement and conversion rates, according to the IPA’s Social Works Personalisation guide published in March. However, the report acknowledges that strategies designed to increase brand relevance should always be balanced with campaigns that drive reach through mass marketing.
Targeting en masse
When The Economist wanted to increase brand awareness and drive subscriptions, it targeted a group of people labelled the “globally curious”, modelled on its database of existing subscribers. Despite being targeted, this was by no means a niche group, with The Economist estimating the number of globally curious people was close to 73 million.
“If a brand is to solve an awareness challenge, then reach is important, but we don’t conduct reach campaigns just for the sake of it. There will always be a longer-term goal and everything we do has a KPI to it,” explains Mark Beard, senior vice-president of digital media and content strategy at The Economist.
“We need to make sure everything we do is driving some kind of interaction and [can] help us convert more people to subscribers,” says Beard
This was the approach taken by The Economist for its digital marketing campaign ‘Raising Eyebrows and Subscriptions’. The aim was to provoke the audience by serving them content they couldn’t ignore in order to demonstrate the relevance of The Economist’s journalism. The idea was to give people “their own epiphany” by offering content that compelled them to subscribe.
Part of this strategy involved placing ad units on articles the globally curious target group were already reading, which showed them a hopefully more interesting article authored by The Economist team.
The success of the campaign was highly measurable, generating 5.2 million clicks and 64,000 new subscribers worth £51.7m in lifetime revenue. The campaign, which won a Gold Cannes Lion last year, continues to run and has evolved to include an element of video.
The discussion is moving beyond reach to ‘attentive reach’, which takes into consideration more than just viewability.
Gerald Breatnach, Google
“We don’t really run campaigns in our digital department,” says Beard. “We don’t talk about campaigns, we talk about always-on activities and initiatives. With digital you can be short term, but it is possible to be long term too.”
Mondelez International’s digital and social media manager Pollyanna Ward is an advocate of operating an always-on digital strategy, which feeds into a wider campaign across TV, experiential and outdoor.
“For us in FMCG, we need to reach everyone. There’s no one specific audience. For us, the priority is always going to be reach. So you might have an always-on strategy where you’re planning things for an entire year and you might continuously pump out a brand message on Facebook, Twitter or YouTube.
“You can change that in real time and push out core brand messages at times when it’s relevant, meaning you don’t need to do continuous targeting all year round. Then shorter-term digital strategies are key with the big activations to get people buzzing and when they’re aligned with your PR, experiential and TV you get results a lot quicker.”
New measures of effectiveness
Concerns continue to persist over how effectiveness should be measured in the digital age. Facebook fuelled the fire last year after revealing a number of errors in the way it measures audiences, admitting it overstated for how long users watch videos on its site by up to 80%.
This, in part, led P&G’s Pritchard to launch a searing assessment of the industry’s “murky” supply chain in January, blaming the “antiquated media buying and selling system” for its inability to cope with the technological revolution.
Last month, meanwhile, WPP CEO Sir Martin Sorrell urged Facebook and Google to step up and “take responsibility” for measurement errors and ad fraud, arguing the major digital players are “clearly not doing enough”.
” data-evernote-id=”177″>[≈ Construction cost for Gerald R. Ford-class aircraft carrier] (£6.9bn). So as brands appear unlikely to move ad spend away from the platform, it is more important than ever to find new effectiveness metrics.
Dixons Carphone’s commercial marketing director Jonathan Earle suggests one method is to add bespoke codes to track customers who purchase as a result of seeing an advert on Facebook or YouTube.
The discussion is moving beyond reach to ‘attentive reach’, which takes into consideration more than just viewability.
Gerald Breatnach, Google
However, if marketers want to drive sales, he argues there are digital channels that deliver much stronger results than social media.
“If the metric is to get as many people thinking about us as possible, then social has a clear role to play, but if you want to drive sales, that’s where pay-per-click comes in,” he explains.
“If I had £100 to spend on a marketing campaign and my sole aim was to drive sales, I would just use social to drive awareness, consideration and conversation as there are better channels to drive the final sale.”
Earle argues that pay-per-click (PPC) is the most measurable marketing channel, serving content to customers that matches their organic online search terms. The team can then track that traffic from the click-throughs all the way to conversion and order value. The PPC activity takes between seven to 10 days to maximise, says Earle, who advises marketers to be clear upfront about what it is they want to deliver.
At Google and YouTube, the response to measurement issues is to offer free tools like AdWords and brand lift surveys, as well as third-party viewability verification.
“The discussion is moving beyond reach to ‘attentive reach’, which takes into consideration more than just viewability,” explains Google brand planning industry lead Gerald Breatnach.
“We tend to think of this in terms of ‘WAVE’ – measuring watch time, audibility, viewability and engagement. Marketers not only need to know how many views a campaign has generated, but the unique reach of the campaign and the average watch time. Ultimately, these campaign metrics need to link to sales results,” he says.
Understanding that success looks different on each channel is crucial to accurately measuring effectiveness and in the digital landscape there is no one-size-fits-all approach.
“If I wanted to make an impact with the younger generation, I would be looking to see how effective Snapchat is at delivering impressions, but when it comes to different channels I would be looking at the view-through rate to see if we have made an impact,” Ward explains.
“If the view-through rate shows they only watched 10 seconds of our 30-second ad, then did we land our product message in that time? Or have they watched a pretty piece of creative, but we’ve done nothing for brand linkage and brand awareness?”
Reach is important, but on its own it isn’t good enough.
Mark Beard, The Economist
Google’s Breatnach agrees it is a mistake to think all digital channels work in the same way or only equate to “tightly targeted” performance marketing.“Online video advertising on YouTube, for example, has the potential to offer attentive reach and deliver long-term brand results,” he explains.
“Search is naturally targeted to audiences further down the purchase funnel. Programmatic has the potential to deliver both mass reach and sophisticated targeting.”
Peugeot’s marketing director Mark Pickles appreciates that to measure digital effectiveness you need absolute clarity about what you want to achieve.
“For a new product, the primary focus is likely to be on reaching mass awareness within the identified customer segments. Whereas with an established product, often the place for digital is to convert existing awareness into some form of action – what I call a ‘nudge’ – which pushes the consumer a little closer to us,” he says.
“Clearly, the metrics for these two campaigns will be different and so will the media optimisation rules. Setting a campaign that is optimised to generate hard sales leads is likely to fail when it comes to reaching enough eyeballs, particularly as our programmatic algorithms quickly seek out targeted prospects.”
The Peugeot marketing team generally sets several secondary objectives and a primary objective, which Pickles emphasises it is important to be realistic about.
He says: “If I was to set the primary objective of a campaign action as ‘how many sales can I directly attribute?’, I’m likely to under-value the secondary deliverables. A campaign might sell a few cars, but generate sufficient awareness and action that translates to results outside the campaign metrics.”
Hull argues that it is fundamental for marketers to understand the difference between what they are doing for the long term and their brand activation objectives.
“You also need to make sure you’re getting the right investment for the KPIs that you’re setting, because there’s no point setting KPIs and then not putting the right amount of money behind them,” she explains.
“Some of the clients have been saying that they have been under spending relative to the promise they have made on what they’re going to deliver. We also need to get the languages to match up. New media brings a new vocabulary and new forms of measurement, but you have got to know how they relate to the other forms of measurement.”
Holding your nerve
Armed with the ability to optimise 24 hours a day, seven days a week marketers now have the opportunity to tweak campaigns in real time.
Aviva uses econometrics and attribution to measure effectiveness, combined with its brand impact index, which investigates brand health. Markey argues that marketers cannot afford to ignore the opportunity to optimise.
“The idea that as a marketer you can be asleep at the wheel is so wrong. To push a campaign out and hope it works or do campaign evaluation at the end would be insane, lazy, suicidal,” he says.
“For me, when you start any activity you need to know how you’re going to measure it throughout and consistently go back, using neuroscience to refine activity.”
However, when exploring real-time optimisation marketers must resist the temptation to make knee-jerk decisions, which take them away from their original KPIs.
“When you’re spending money on a campaign that’s aimed at trading and selling, and you say ‘I want to sell 20 of this thing and I only sold three’, you can pull that money and put it somewhere else,” says Markey.
“When you’re trying something new, it’s much harder and you have to hold your nerve. You need the levers, but you need to know when to pull them. There are many examples of campaigns that are a slow burn. There is an expectation that when the new campaign has launched, sales will double tomorrow, and we all know that’s rarely the case.”
It is not what you track, but what you choose not to track that’s important.
Mark Beard, The Economist
The Economist’s Mark Beard agrees that it is very easy for marketers to fall into the trap of tracking everything on a digital campaign just because they can.
“It is not what you track, but what you choose not to track that’s important. We track two things predominantly – the number of prospects we’re bringing in and how many subscribers we’re generating as a result of those prospects,” he says.
“There are many other KPIs we could have reviewed as the campaign went along but the danger these days where much of marketing is done via machines, is if you give the machine the wrong KPIs to optimise you won’t get the results you want.”
This is where human input plays a vital role, says Beard, ensuring the right KPI is chosen at the outset and setting up the artificial intelligence to operate at its optimum.
In a world where optimisation can happen at the touch of button, it is more crucial than ever for marketers to set out with a clear appreciation of their KPIs and then design their digital activity to deliver as part of a holistic strategy.
Case study: Effectiveness on a shoestring
The objective: Australian swimming pool company Narellan Pools teamed up with agency Affinity on a targeted, data-driven digital campaign to increase its share of the crowded Australian market.
The research: The cross-referenced five years’ worth of first-party data, including sales, site analytics, leads and conversion rates, with five years’ of third-party data spanning the weather and consumer confidence. The research found sales spiked when there were two consecutive days with higher than average temperatures.
The campaign: Looking at the weather across 49 regions in Australia, the team fed real-time temperature data into the programmatic platform. When the right conditions were met, it activated the campaign across search, pre-roll video, banner and social, targeting people who had already shown an interest in buying a swimming pool.
The result: As Narellan Pools only advertised when the specific temperature conditions were met, the company was able to reduce its media spend by more than 30%. The campaign drove a 23% increase in sales and generated an incremental return of investment of $54 (£34) for every $1 (62p) spent. The campaign also went on to win the 2016 IPA Effectiveness Award special prize for best small budget campaign.
The majority of marketers (72%) feel that the marketing technology landscape is changing either “rapidly” or at “light speed” — which is evident from the explosive growth we’ve seen in that landscape graphic over the past 5 years.In contrast, the majority of marketers (67%) say that their company’s own use of marketing technology is evolving only “slightly” or “steadily” — or “not at all.”
This is Martec’s Law: technology is changing faster than organizations.And while you might predict that the marketing technology landscape is bound to settle down soon, keep in mind that we’re now on the cusp on an explosion of new innovations in virtual reality, augmented reality, the Internet of Things, conversational interfaces, robotics, artificial intelligence, and so on. The next three years are likely to see more technological change than the last three. (Sorry.)
Source: chiefmartec.comWith apologizes to Moore’s Law. Curated for you by marketingIO: One Source for All Marketing Technology Challenges.
Perhaps you could blame the dozens of devices consumers now carry in their pockets. Or maybe paper is just too outdated for the delicate hands of a millennial. One thing Is forcertain: marketers are not getting as excited by newspapers as they used to.
The UK’s most prolific print advertiser in 2015 was BSkyB, which invested £47.7m, according to Nielsen. However, this was a 15.9% fall compared with 2014 and a 22.4% slump from the £61.5m it pumped into print advertising in 2013.
Sky is not the only major brand moving away from print. Since 2008, the country’s biggest supermarket Tesco has gone from highs of £61.6m (in 2010) to investing just £25.1m in printadvertising last year. And traditionally newspaper-heavy sectors such as cars and B2B – with the latter often relying on recruitment ads – also both appear to be abandoning ship.
For the period 1 July 2015 to 30 June 2016, automotive brands dropped their ad spend in UK newspapers by 24.2% year-on-year to £104.8m, with only government and politics (-32.2%), office equipment and stationery (-35.7%) and business and industrial (-31%) recording steeper falls.
“We’re in a hugely volatile moment and it has felt at times like print is just about hanging on,” admits Richard Furness, director of publishing at The Guardian. “But things are moving to a good place and I wouldn’t be in this job if I didn’t see a long-term future.”
Furness’s encouragement is partly because the decline in ad revenues for national newspapers is projected to almost halve (to a 5.9% decline) in 2016 and slow even further to only a 3.4% decline by 2017, according to Ad Association/WARC.
The Guardian now has, on average, 160,000 readers during the week, 300,000 for its Saturday edition and 200,000 for its Sunday edition. Up to 1.5 million people ≈ population of Mogadishu, capital city of Somalia
≈ population of San Antonio, Texas, US
≈ population of Auckland, New Zealand
≈ population of Almaty, Kazakhstan
≈ population of Swaziland, nation
≈ population of Novosibirsk, Russia
≈ population of Pretoria, capital city of South Africa
≈ population of Lusaka, capital city of Zambia
≈ population of San Jose, capital city of Costa Rica
≈ population of Mosul, Iraq
≈ population of Kharkiv, Ukraine
≈ population of Lyon, France
≈ population of Marseille-Aix-En-Provence, France
≈ population of Tabriz, Iran
≈ population of Phoenix, Arizona, US
≈ population of Davao, Philippines
≈ population of Mecca, Saudi Arabia
≈ population of Mbuji-Mayi, Democratic Republic of the Congo
≈ population of Cordoba, Argentina
≈ population of Kuala Lumpur, capital city of Malaysia
≈ population of Daejon, South Korea
≈ population of Phnom Penh, capital city of Cambodia
≈ population of Kaduna, Nigeria
≈ population of Karaj, Iran
≈ population of San Salvador, capital city of El Salvador
≈ population of Kampala, capital city of Uganda
≈ population of Philadelphia, Pennsylvania, US
≈ population of West Yorkshire, United Kingdom
≈ population of Lubumbashi, Democratic Republic of the Congo
≈ population of Bursa, Turkey
≈ population of Santa Cruz, Bolivia
≈ population of Maputo, capital city of Mozambique
≈ population of Lome, capital city of Togo
≈ population of Perth, Australia
≈ population of Harare, capital city of Zimbabwe
≈ population of Gabon, nation
≈ population of Bamako, capital city of Mali
≈ population of Guinea-Bissau, nation
≈ population of Tijuana, Mexico
≈ population of Montevideo, capital city of Uruguay
≈ population of Khulna, Bangladesh
≈ population of La Paz, capital city of Bolivia
≈ population of Turin, Italy
“>[≈ population of Conakry, capital city of Guinea], meanwhile, still “actively consider” buying The Guardian on the weekend.
“These are the numbers I am confident about,” he says. “All of our research shows that this core audience is turning to print for a long-term escape away from the never-ending madness of digital and 140 characters. People are returning to print much like the vinyl effect – they know we can provide something more authentic and well-rounded when it comes to big news such as Bowie passing or Brexit – and brands are waking up to that reality too.”
Chris Duncan, chief customer officer at News UK, is very much in agreement with his rival. “A news story on Facebook typically peaks at around 60,000 readers,” he adds. “But 4.5 million people ≈ population of Lebanon, nation
≈ population of Rangoon, capital city of Burma
≈ population of New Zealand, nation
≈ population of Guadalajara, Mexico
≈ population of Republic of the Congo, nation
≈ population of Alexandria, Egypt
≈ population of Sydney, Australia
≈ population of Luanda, capital city of Angola
≈ population of Georgia, nation
≈ population of Saint Petersburg, Russia
≈ population of Costa Rica, nation
≈ population of Norway, nation
≈ population of Ireland, nation
≈ population of Riyadh, capital city of Saudi Arabia
≈ population of Chittagong, Bangladesh
“>[≈ population of Croatia, nation] picked up The Sun to read about Theresa May becoming the new Prime Minister so you would be a fool to write us off just yet.”
Duncan could have a point, with recent figures from the Audit Bureau of Circulation, the independent body that verifies newspaper sales data, showing a much-needed surge.
The Times posted a 15% rise in print sales in June – boosted by the EU referendum result – compared with the same period last year. The Guardian, meanwhile, increased its average daily sales by 3.6% in June compared with May, while the FT improved its average daily sales by 0.49% over the same period.
At the other end of the market, The Sun was up 2.6% month-on-month, with The Daily Mirror the only daily national title to post a decline as its sales dropped 1.02% in June compared with May. “When there’s a big story, people are still turning to a newspaper for the definitive coverage,” explains Duncan.
“There is growing evidence that the pendulum has swung too far,” adds Olins.“There is an increasing amount of scepticism – at both client and agency level – about the investments that they have made and a recognition they are not delivering ROI. This island has a richer newspaper habit than just about anywhere else in the world, with 47 million people ≈ population of Kenya, nation
≈ population of Ukraine, nation
≈ population of Colombia, nation
≈ population of Tanzania, nation
≈ population of South Africa, nation
≈ population of South Korea, nation
“>[≈ population of Spain, nation] reading them in one form or another.
“You’re going to see the ad revenue decline stabilise over the coming years and brands start to realise how powerful newspapers can still be.”
Rufus Olins, CEO, Newsworks
In particular, Olins singles out Lidl as one of the brands that has benefitted most from backing print over recent years and one that can create a “ripple effect”.
Newspapers have certainly played a major role in the German discounter’s journey huge increases in market share over the past few years, admits Lidl’s head of media Sam Gaunt. “Print media allows us to reach large groups of shoppers at key points in time, with formats that deliver standout and which communicate our messages effectively,” he says. “It also allows us to be culturally relevant to what’s going on in our customers’ lives, nationally and regionally, across the year.”
Print can also, at times, provide more value and less distractions than digital. Gaunt explains: “Digital advertising has unique strengths and is an important part of our media mix but these strengths can come at a premium and it needs to be used judiciously. Digital needs to be interrogated just like any other medium and, for certain communications tasks, print still holds it’s own: for communicating a simple message to a broad, mass audience print can reach a lot of people with effective formats at comparatively low cost.
He clarifies: “People may spend more time with other media but time spent with print is quality time, where people are less likely to be distracted, and that offers powerful communication opportunities.”
Experimenting with new models
One of the main ways newspapers are winning back advertisers is by experimenting with new ad formats.
At The Guardian, Furness says its new ‘barndoor format’ – essentially a gatefold on the front page – has created a real buzz and has already been adopted by brands such as Heineken, which have been vocal about prioritising digital ad spend over traditional in recent years.
At News UK, meanwhile, Duncan recently debuted a bluntly titled new format for The Sun and The Times. “We recently debuted the biggest fucking print ad ever, a format that allows you to expand the format of The Sun to be a six-sheet poster. It will be huge for us and allows brands to be incredibly impactful around huge events like Andy Murray winning Wimbledon.”
Newspapers are also taking some queues from digital – taking on risk by launching new products that are allowed to fail fast. In the case of Trinity Mirror’s The New Day and CN Group’s “newspaper for the north” 24 the bets did not pay off and the new publications were closed down.
But Archant’s The New European, a new national newspaper for the 48% of Britons who voted to remain in the EU, has just had its planned 4-week print run extended and
“We see it as an opportunity to launch a publication that exists for a set period of time where there’s an extraordinary mood in the country and a real interest in the topic that crosses political lines. If you can exist while that mood exists, you have a hugely tuned in audience that will also be more tuned into brand messages.”
However, four months on and it isn’t changing its stance. Waitrose’ ad manager Joanna Massey explains: “We do generally see a good NPROI for print advertising, which is why we continue to advertise in this medium.
“There is a role for print titles in this digital age but we like to think of news brands as a whole entity rather than just print when planning media, as readers access news brands in a number of different formats and on different devices.”
Each campaign is different and the effectiveness of a channel very much depends on the type of campaign (brand building or direct response), the individual campaign objectives, level of spend, a number of other variables and also how one defines and measures effectiveness.
But for brands such as Waitrose to continue backing print, Alex Steer, head of technology, effectiveness and data at media agency Maxus, believes newspapers must become better at selling themselves.
At a recent Newsworks event, he urged delegates: “If you look at the big digital brands like Facebook, they are all investing millions in econometrics to prove their marketing effectiveness.”
“The newspaper industry now needs to make an equal commitment to telling advertisers why it’s still one of their most important channels.”
Alex Steer, head of technology, effectiveness and data, Maxus
It found that only 44% of digital display ads received any views at all. And, of those, only 9% of ads received more than a second’s worth of attention. Only 4% of ads, meanwhile, received more than two seconds of engagement.
In comparison, almost half (40%) of press ads were viewed for more than one second and aquarter of print were viewed for more than two seconds, nearly six times the rate of digital.
But even if the Lumen study proves consumers are still interested in print ads, The Guardian’s Furness says print brands must not get carried away. Digital advertising remains the UK’s single biggest advertising channel and is set to grow beyond £10bn by 2020, according to the IAB, and Furness says print must facilitate this shift.
He concludes: “Print newspapers are a bridge to our future. If in a couple of years that bridge has stronger foundations, then that’s job done but print is no longer the winning destination and never will be again. Where we have got it wrong as an industry in the past is we’ve continued competing with digital. We now have to accept that while print can still be healthy, it must work as a bridge to very different future.”
Andrew Mortimer, director of media, Sky
While Sky has grown advertising spend in online media, it certainly doesn’t signal the death of traditional media like television, outdoor and print. In fact, advances in data and technology have significantly enhanced the opportunities available in traditional media, as well as giving us a better understanding of true effectiveness of online advertising.
The data-led approach that has driven the success of Sky’s enhanced TV targeting on Sky AdSmart is being increasingly replicated by the news brands, particularly those with access to good customer data. We are having an increasing number of conversations with publishers who can bring together editorial expertise, creativity, access to talent and an opportunity to personalise communication with our different consumer segments.
For the marketing team at Sky, there is no doubt that print remains a valuable advertising channel. To kick-off our recent campaign for Sky Cinema, we partnered with The Sun’s new film magazine launch Popcorn. We created an integrated editorial section called ‘Microwave Popcorn’ with features on upcoming movies, front cover branding, ads in the magazine and a takeover of The Sun Online’s dedicated film channel, all working together to communicate the benefits of Sky Cinema as the market-leading movie subscription service.
The contextual environment that print offers means that tactical advertising can deliver huge impact. To celebrate Team Sky winning the Tour de France for the fourth time, adverts this week appeared in relevant content in both print and iPad editions across a number of news brands. Magazines played a core part in the recent launch of Sky Q, allowing us to reach tech opinion formers with a range of messages to demonstrate the superiority of the new Sky Q service.
Print advertising remains a key channel to drive both long-term brand metrics and short-term sales effectiveness, consistently delivering a positive return on the significant investment Sky makes.