You don't have to 'do more with less'

Share this content:

It has almost become a cliché to speak of the current economy as challenging. The comment is often followed by a discussion of how to "do with less." In these challenging times, are there other options? To answer that, you need to determine where your business is coming from; establish how much of advertising is wasted; and consider all media options.

A trade area, or customer footprint, analysis provides information on how many customers are receiving your print advertising. Many retailers have not updated their trading area recently. Redefining the trading area means reducing waste and considering media options. Identify which neighborhoods are most productive and produce 65%, 80% or 90% of sales (the 65-80-90 rule). Many clients have trimmed their footprint by 20%.

As the number of media channels increases, technology can help. Technology enables you to target relevant geographies, identify media usage, and blend media to produce the multichannel recommendations. This allows you to create hyper-localized media plans tailored to consumers.

The measure of media waste is the percentage of media coverage that falls outside the trading area. We have come to accept some media waste as a tradeoff against cost.

With the customer footprint in hand, overlay your media by ZIP code. How well do they match? If the match is perfect, the media plan is 100% efficient. 93% to 95% is acceptable; 5% to 7% of media coverage is in neighborhoods where you have few or no customers. More than that, and the plan should be reviewed.

The footprint has been refined to reflect the geographic source of our revenue stream. Coverage has been optimized to put media spend in the most productive neighborhoods. In the process, you may discover local media preferences and biases.

Despite ad budget pressure, you do not have to settle for less coverage. With sharper footprint definition, aggressive waste trimming, and an open mind to alternative print media, you may cover more of your sales with your current or even reduced ad budgets.

dsherr@valassis.com

Loading links....

Sign up to our newsletters

Company of the Week

Since 1985, Melissa Data has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa Data offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here