Evaluating True Value vs. Hype in BtoB Media

1
Evaluating True Value vs. Hype in BtoB Media
Prepared for
By Julie Tinney, VP Sales Marketing Wells
Publishing, Inc. March 19, 2009
2
In the beginning, there was a sign. And it was
good.
3
Soon came radio
(Image Source Duke University Library)
4
Television. The end of radio?
(Image Source Duke University Library)
5
There are several media platforms for BtoB and
consumer reach.
Direct Mail
Magazines
6
And then along came the Internet.
7
63.4 of the U.S. Populationused the Internet
last year.
8
So Many Choices

• Text links?
• Email sponsorships?
• Banner ads?
• Twitter?
• Online video?

• Facebook?
• Webcasts?
• A Blog?
• Spam?
• Online Trade Show?

9
News on the Internet
10
R.I.P

• Rocky Mountain News
• Baltimore Examiner
• Kentucky Post
• Cincinnati Post
• King County Journal
• Union City Register-Tribune

• Capital Times
• Halifax Daily News
• Albuquerque Tribune
• South Idaho Press
• San Juan Star

11
Five out of every 10 magazines and newspapers
will go out of business, scale down their
frequency or move entirely to the Web.
---Andy Cohn, VP Group Publisher, Fader
Media
12
Is Print Really Dead?

• 85 of adults age 18 read magazines
• The total of magazine readers increased about
  5 over the last 5 years.
• The average of magazine issues read per month
  grew by 6

MPA, Comprehensive Guide Handbook 2008/09
13
The last click gets the credit

• In Nov 2007 ad reader study 49 of readers
  indicated that they had visited a print
  advertiser's website
• In Nov 2008 ad reader study, 58 of readers
  indicated that they had visited a print
  advertiser's website.

PRINT

• UNTRACKED
• Type in a company url?
• Look up a company in a search engine?
• Made a phone call?

14
Apples and media are all the same. Not.
15
Which media outlets will survive?
Those that can provide 1) relevant data,
compelling news information 2) delivered in
the formats that the audience wishes to receive
it.
eNEWSLETTERS
SEARCH
BLOGS
PODCASTS
VIDEO
PRINT
RSS FEEDS
FORUMS
16
Get the Audit Statements

• Audit Bureau of Circulations www.accessabc.com
• Business Publications Audit www.bpaww.com

17
SRDSStandard Rate Data Service www.srds.com

• Annual unlimited single-user access is 911.
• Have free support services like online glossaries
  CPM calculators

18
SRDS cont'd
19
ABC site
20
ABC continued...
Under eCirc you'll be able to select the type of
Media statement you're interested in seeing 1)
Newspapers 2) Consumer Magazines 3) Business
Publications and 4) Farm Publications
21
BPA site
22
BPA site cont'd
They have a Camtasia Studio video to show you how
to search. Review only 239 websites so far
primarily for print audits.
23
Key elements of the BPA Statement
1. Define qualification
2. Look at total qualified number
3. Determine your target and divide that by
the total qualified number
24
Key elements cont'd...
25
Resources for dissecting an audit statement
How to Use BPA Worldwide Circulation Statements
to Prepare a More Effiective BtoB Media
Schedule www.bpaww.com/resources/guide/ReadingBusi
nessCircStatement.pdf
ABC offers free flash-based video tutorials on a
variety of topics www.accessabc.com/resources/buy
erprodev.htm How to Read an ABC Business
Publisher's Statement http//www.accessabc.com/pd
fs/b2bhowtohandout.pdf
26
Tools for evaluating websites

• Compete.com
• Quantcast.com
• Alexa.com

Rank top one million websites in the U.S. based
on the number of people the domain attracts each
month. A LOWER number is a better
rank. Drawbacks use imperfect methods like
'guestimate' data from isps like Cox Time
Warner to make analysis. Some rely on cookies to
track visitors and some use a toolbar that a
select group has opted in to use. Many websites
in BtoB media are not even large enough to
register.
27
Example of Alexa Search
28
Healthy Choices Stress

• Study of choice by Baba Shiv, Associate Professor
  of Marketing Stanford Graduate School of Business
• Students were given either a 7 digit or a 2 digit
  to memorize in one room, then had to walk down
  the hall to another room to deliver it.
• On the way the the other room, they are offered a
  choice of either chocolate cake or fruit salad as
  a reward for participating in the study.
• Students who were given the 7 digit are twice
  as likely to choose the cake.
• Emotional side of the brain wins over the
  rational side of the brain.

29
Fruit Salad or Chocolate Cake?
30
Media options that are detrimental to you in the
long run

• Emailing without permission (damages your brand,
  can lock you out of legitimate email
  communication).
• Buying advertising because They made me an offer
  I couldn't refuse (without evaluating what you
  just bought.)
• 'Testing' multiple audiences on the basis of one
  ad each under the assumption that they are all
  the same.

31
Metrics a publisher should provide

• Amount of unique visitors.
• Impressions over time.
• Average open rates for newsletters.
• Print audit statements on demand.
• Click reports which include Total sent, total
  open rate, total clicks and click thru rate.

32
When to run away

• If given guaranteed click through rates on a
  campaign.
• If someone promises to 'blast' your ad out to
  their audience.
• If someone offers you a bundle of services
  without offering analytics.
• When your online searches rarely yield results
  from the media in question.
• If offered editorial for advertising.
• If it seems to be too good to be true.

33
Top Mistakes of a Media Buyer

• Leaving the buying decision 100 in the hands of
  the agency without oversight
• Buying a total 'number' without defining the
  target
• Buying an unaudited publication
• Buying a pub with hidden problems on the
  statement
• Putting too much emphasis on 'pass-along' print
  readership
• Buying off on banner plan with no total
  impression guarantee.

34
The top questions to ask when buying print
advertising

• Are you audited? (get the most recent
  statement).
• What percentage of your circulation comes from
  lists? (You'll know already but ask ask the rep
  to see if they are honest and to ascertain a
  reason.)
• Is this offered as a member benefit of any
  organization?
• Do you offer bonus distribution (trade show
  copies etc.)
• Do you offer an ad reader study?

35
The top questions to ask when buying online
advertising

• Is this newsletter or program offered to
  subscribers on an opt-in/opt out basis?
• What are your average open rates?
• May I see a copy of your latest metrics?
• Who are your competitors?
• Do you accept 3rd party tags?

36
Which new media options are smoking hot.

• Custom video
• Webcasts
• Preroll video sponsorships
• Video banners

37
Over 70 of US Online Population Watches Video

• In Nov 2008, over 146 million unique users
  watched a total of 12.7 billion videos.
• The average length of viewed online video content
  was 3.1 minutes.
• The average online video viewer watched 273
  minutes of video.

Source comScore
38
The ad spend is not growing as fast as usage.
39
Final Thoughts

• Drill down into the audience. The largest total
  number is not necessarily reaching your niche.
• You deal with rate cutting constantly
  frustrating because the product is not the same
• SEO is key in any campaign. Pick a media partner
  who understands that.

• Spam hurts open rates on all your emails
• Consider a social media strategy not only for
  your company but for your individual efforts.
  Pick a media partner who employs social
  bookmarking. More people in the US and other
  leading digital countries worldwide are using
  social networks and blogs than e-mail.

Source Nielson Online, March 2009
40
Final Thoughts cont'd...

• Discover opportunity by talking with your rep.
• Ask questions in industry forums. Use community
  to your advantage.
• Get geeky. Spend some quality time with Google
  Analytics or your web analytics tool.
• Be careful of the shiny object syndrome.
  Traditional media like print is proven and should
  be a part of your plan. 54 of advertisers spend
  on three or more types of media and 80 use two
  or more. (source Outsell, Inc.)
• Pick a media partner that allows you to test
  creative and embraces new ideas.

41
Thanks!
Julie Tinney, VP Sales Marketing Wells
Publishing, Inc. jtinney_at_wellspublishing.com
800-897-9965, ext. 148