Media (Introduction).

    I was honored to serve as the final judge in the 2008 DECA, International Career Development Conference (ICDC) in Atlanta this past Monday and Tuesday in the “Advertising Campaign” category. The events were held at the Georgia World Congress Center and the awards session was at the Georgia Dome.
   It was an awesome experience. On Tuesday, I evaluated twenty 20-minute advertising campaign final presentations from the top high school marketing students in the world.
    This was a truly humbling experience and I was impressed to say the least. It was virtually impossible to determine which of these student teams best deserved to be in the top ten -- much less the top three finalists! But, ties were not allowed and there had to be three top teams selected. ALL of the students who made it to Atlanta should be VERY proud!
   There was a relatively clear first place winner. This team's "situation analysis" actually included a “SWOT” (Strengths, Weaknesses, Opportunities & Threats) analysis based on their "secondary research." As did most of the others, they defined their primary and secondary target markets in demographic, psychographic and geographic terms. Their objective was specific, workable, measurable and attainable. Their budget was realistic and comprehensive -- including development costs, production costs, media costs and agency commissions. They certainly showed evidence that they understood some of the basics of the “Journey from Concept to Creation!” 

  Of course, I was thinking about how these high school students could have REALLY impressed me if only they had been reading my blogs! Hopefully next year’s students are reading?

  One thing that really impressed me, in addition to the SWOT analysis, was that they mentioned running television spots in the “early fringe” time period. Plus, they actually spoke in terms of FREQUENCY! – gasp! They also referred to radio formats as Contemporary Hit Radio (CHR), Adult Contemporary (AC), Album Oriented Rock (AOR), etc. They certainly knew how to impress the Adman with industry terminology.
    Regarding my blog topic -- I am convinced that there are gazillions (possibly even googillons) of dollars totally wasted by those who are not educated on a few basic principles of media planning and buying. I have heard comments from inexperienced prospective clients (who could use a lesson or two from high school DECA kids) that go something like, “We think we should buy 30 spots on WXYZ TV.” After recovering from my “client from hell red flag alert,” I attempt to educate them. Puhleeze listen carefully -- it AIN'T about how many spots you are buying! 30 spots on one station is NOT the equivalent of 30 spots on another. Plus, different dayparts (Early Fringe vs Primetime for example) can reach dramatically different numbers of viewers! It IS about how many impressions (as measured by ACNielsen) you are making on your target market (reach). And it is also about reaching your target market a sufficient number of times (frequency).
   This leads to the basic, fundamental formula of broadcast media buying – Reach x Frequency = Gross Rating Points (GRP’s). So, when establishing a broadcast television media budget, it is prudent to first determine the average cost per rating point (CPP) for your target market in your market(s) -- as defined by the Nielsen Area of Dominant Influence (ADI). Then determine how many impressions you can afford to make with sufficient frequency (generally a minimum of three times). Then figure on the conversion rate (generally in the two or three percent range) that is typical for your industry…while considering the added value of BRANDING your product or service in the market.
  Now, when I hear something like, “We are budgeting for XXX GRP’s per week, based on the average CPP of $XXX (according to SQAD) in the target ADI for our Adults 25-54 demo…” I am as pleased as a DECA student after winning first place in the DECA ICDC awards session at the Georgia Dome in the Advertising Campaign category... celebrating by getting wet from the fountains at the Centennial Olympic Park after visiting the Georgia Aquarium and the World of Coke... with a front row seat at the NBA playoffs in the Phillips Arena watching the Atlanta Hawks beat the Boston Celtics... while enjoying Georgia peanuts and a Coke... with tickets for the studio tour at CNN..followed by tickets for "The Lion King" at the Atlanta Civic Center... or perhaps another show at the Fabulous Fox Theater...or Six Flags over Georgia...or the Stone Mountain Laser (and fireworks) Show? -- While it may sound like alphabet soup to you -- to the seasoned media professional it is music to the ears…

To be continued...

Comments

[richard goodman]

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