Thursday, January 30, 2014

Live from #MediaInsight: Highlights from this morning's Keynotes

David Poltrack, Chief Research Officer, CBS explains how new platforms and new metrics impact broadcast TV and advertising 

We are in the "transitional" season of TV: more has changed in the past 2 years than the past 20.  

Programming offered on traditional TV only reaches on 33% of the potential audience - embracing other platforms is key. 

75% of broadband only subscribers have never had cable - they are younger, better educated, but lower income.

It's important to understand the disconnect between intent to view and actual viewership - while an average of 40% of people say that they are likely to tune into the programming tested at CBS's research facility, Television City, actual tune-in is significantly lower.  But now, with so many new platforms, tune-in numbers are on the rise.  

During primetime, the number one source of viewing is not any of the major networks, but DVR playback.  

"From adapt and survive to adapt and thrive" - this is TV's new reality.  

Audience segmentation has seen a major shift - it's no longer about straight demographics but shared viewing habits.  

Hit programs become hit programs because everyone is watching them - it's not owning a single demo, but appealing to everyone no matter how they consume their content.  

For advertisers, media analytics have become much more important.  To truly understand ROI, it's necessary to look at the full picture and understand a show's performance across all platforms.  

Every segment of TV viewers streams more than ever before, but the devices they use are different.  

The future of advertising is interactive - now, advertisers can shout out a message and consumers can do something with it via the second screen devices they are already using.  


Contagious: How to Make Products, Ideas and Behaviors Catch On
Jonah Berger, Professor of Marketing, THE WHARTON SCHOOL OF THE UNIVERSITY OF PENNSYLVANIA, Author, Contagious: Why Things Catch On

"Word of mouth generates more than twice the sales of paid advertising in categories as diverse as skincare and mobile phones' - McKinsey Quarterly

Only 7% of word of mouth is online.  It's not that online isn't important, but that offline is as if not more important.

Six "stepps" to making something contagious: Social Currency, Triggered, Emotion, Public, Practical Value, Stories

Choices communicate information - if you see someone in a minivan, you automatically assume it's a parent with kids who play soccer.  

McDonald's McRib sandwich - maybe not the best sandwich, but a genius move by McDonald's to limit availability and create demand.  

Finding the inner remarkability is key to driving word of mouth about a product.  See this example using a simple blender: http://www.youtube.com/watch?v=qg1ckCkm8YI

It's important to be top of mind.  Take Cheerios vs. Disney World.  While Disney World may be great, you forget about it a week after you get home.  But you eat Cheerios every morning, 365 days a year, keeping a boring cereal top of mind.  

"Think of things in the environment that will remind people of you."  Find the right triggers to keep yourself (or your product) top of mind.  

When we care, we share.  An emotional response is what gets us to spread the word.  

It's not just about revealing the facts, but telling the story.  You may not care that Subway has 5 sandwiches with 5 grams of fat or less, but you care about Jared.  

Live, Public, Conversational: Recent Learning from Twitter Research

Jeffrey Graham, Global Ad Research Director, TWITTER

Money Question #1: Does Twitter detract from TV advertising due to second screen usage?  In measuring ad recall, Twitter found that using Twitter while watching TV increased recall significantly.  Not only this, but using Twitter also increased brand favorability and purchase intent among TV viewers.  

Money Question #2: How does Twitter truly impact TV ROI?  Twitter used three different methodologies with three different vendors to get at the answer.  In both the US and UK, Twitter found ROI increases from 8% to 51% when Twitter is being used concurrently with TV ads.

Money Question #3: How does Twitter impact TV program selection?  It was found that TV ads in highly social shows drive higher incremental sales than shows that drive less conversation on Twitter.    

Money Question #4: Are TV commercials with hashtags more likely to drive conversation?  Yes!  Advertisers who provided a hashtag drove 42% more conversation within a 3-minute window surrounding the airing of the ad.  Also, these conversations tended to be more relevant and positive than the conversation surrounding ads without hashtags.  

ABOUT THE AUTHOR

Ben Proctor is Insights Strategist at Miner & Co. Studio, a New York-based consultancy

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