There is a time for action and there is a time to hold back. For some advertisers, premium inventory like the Super Bowl is a must-purchase. Others, like Frito-Lay, follow smart marketing plan tips and decide the cost and the presence aren’t worth it, as Variety explains.
Some advertisers consider frequency to be as important as reach; while for others, driving home a message a few times too many can mean risking viewer attention and engagement. What can smart marketing planning tell us about the right time to advertise and the right time to take a pass?
Know Your Peak Reach and Frequency
When has your message reached its viewer tolerance? Knowing your effective reach and frequency is pivotal to planning and implementing a successful advertising campaign. “We see this all of the time,” noted Hanna Gryncwajg, media consultant. “It is all about campaign management and knowing when you have hit your mark—at what point everyone who wanted to see your ad has already seen it and pinpointing when you’ve reached your maximum reach and frequency.”
Not every product or service is year-round. Tax services will get more attention during tax-preparation season than during the summer, for instance. But there’s also advertising that can benefit if aired at times when your audience is planning for purchase. Car-purchase consideration is a three-year process: It’s the savvy automotive advertiser who can recognize the purchase cycle of his or her target consumer and push out targeted messages that best fit the purchaser’s mindset.
Stay on Top of Market Changes
Do recent changes or events mean you need to reassess your advertising messaging? “You need to know the target audience’s economics from both a macro and micro perspective, and it may require a client to pull back their advertising under certain adverse circumstances,” warned Charles Theiss, president of CFT Consulting. “What are the market dynamics of your target audience? Millennials are struggling with student debt and may not be spending in certain product categories. Current events and news may shift market attitudes and change behaviors, requiring a more conservative advertising outlook.”
Use Competition to Your Advantage
Smart marketing plan tips include knowing your competition’s spending levels and media habits. How much market share do they command? During a competitive blitz, it might be prudent to pull back and stagger your campaign to maximize your share of voice. Theiss explained, “You need to know where your competition is focusing, where you need to place your messaging to maximize its effectiveness to reach your consumers. There are many advertising opportunities in the market and in order to be effective with your campaign, it needs to be both at the right time and in the right place. In other words, right for your campaign’s specific goal and objectives.”
And it may be that there are some brands and categories that may not benefit from advertising at all. Jon Bond, co-chairman & chief tomorroist at The Shipyard stated, “Don’t advertise if you are in a business that should never look desperate for customers…investment banks, heart surgeons, fine dining, and fine wines, for example.” Ben Clarke, president of The Shipyard added, “I would say when you’re trying to be part of a social cause or a movement you shouldn’t advertise or be in spaces that look like advertising—it makes you seem disingenuous and trite.”