‘What is a ‘Spinach helpful tip’? – When a friend tells you what you don’t know – especially when you don’t know it!
We constantly discuss how to create awareness, stimulate interest,
develop desire pushing customers to make a decision and take action – so we engage and activate B2B and B2C customers using traditional advertising across Radio, Cable TV, Network TV, Syndicated TV, Spot TV, National Magazine, Newspaper, Social Networking, OLV (Online Video), Internet Mobile, National Internet. Where do you allocate your budget and what do you need to do to create awareness?
We listed some of the tools that we can use, now let’s discuss how can we be effective! How can we be more effective with our budgets looking at some of the more traditional tools out there to build awareness? Remember we want to create Awareness, develop Interest which moves customers to and through the decision process so that you can create Action when you ‘ask for the business!’
This weeks Spinach Helpful Tip we are going to discuss one of those tools ‘remnant’ ads and discuss how we can maximize our budgets, create the greatest reach while utilizing traditional media? To help provide guidance and answer some questions, we are very lucky to have a media expert Natalie Hale joining us today:
Natalie can you share a little bit about your background and your company Media Partners Worldwide?
Hi, my name is Natalie Hale CEO and Founder of Media Partners Worldwide. After graduating from UCLA, I got my start working in advertising in major agencies such as Foote, Cone and Belding and Chiat/Day. I went on to work in radio sales and broadcasting for a locally owned radio station and then on to CBS Radio. After more than a decade of working in corporate America, I decided to open up my own agency with the initiative to help entrepreneurs promote and generate leads for their business.
Now after 20 years in business I have helped hundreds of entrepreneurs launch and better their business with a particular emphasis on using remnant radio to maximize and generate the best ROI possible.
What would you say is your Primary Focus at Media Partners Worldwide? What Services do you Provide?
Radio was our original focus, however we become a full service buying agency and buy TV, National and local cable, outdoor billboard and digital advertising as well.
As I’ve had the opportunity to work with you over the years, you have a definite Vision for Using Remnant ads. Can you share your vision with our audience?
Buying remnant radio or TV advertising allows for testing with reduced investment and risk. The discount pricing afforded by including remnant in your buy helps reduce your overall cost per unit and increasing your reach, frequency and return on investment
As a marketer the importance of being able to test multiple ad sets economically so you can hone your messaging, and ensure we are reaching our target audience is paramount to our success. When we are looking to maximize our working media plan and budget, the ability to utilize remnants offers the ability to test, make content and course corrects as we are implementing our flights.
- National Cable
- Spot Cable
- Local Broadcast
- :10 Second Syndicated Spots
- Per Inquiry TV
How is remnant ads different from confirmed spot
Typically, when we buy remnant it is considered 100% pre-emptible, which means if there is no unsold inventory then the spots do not run. A confirmed spot means you are paying the actual rate card rate or a negotiated rate, which is usually higher than a remnant rate.
So remnant ads have a purpose and a place, they offer the ability to test messaging and markets economically. They can offer the ability to drill down and focus with a high level of specificity, but there value is moderated by availability so it has to be understood and balanced against supply and demand.
I want to thank Natalie for her time and insight regarding how manufacturers and advertisers can maximize their reach and frequency in traditional channels while optimizing their spends.
Natalie, was also gracious enough to share some industry standard Definitions for our audience?
CPP is calculated as Media Cost divided by Gross Rating Points.
Impressions are the total number of exposures to your advertisement. One person can receive multiple exposures over time. If one person was exposed to an advertisement five times, this would count as five impressions. Impressions are calculated by multiplying the number of Spots by Average Persons.
A Spot is a single broadcast of an advertisement. Typically, an advertising placement includes multiple spots.
Media Cost or Budget is the price you pay to present your advertisement. There are many different ways to price media including points, impressions, clicks, leads, actions, days, weeks, months, etc. However, it ultimately boils down to the amount you pay to present your advertisement, which is Media Cost. Media Cost excludes the cost to create the advertisement and other costs.
Cost per Thousand Impressions (CPM) is calculated as the Media Cost divided by Impressions divided by 1,000.
Dayparts are typically broken down as morning drive 6a-10a, midday 10a-3p, afternoon drive 3p-7p, evenings 7p-12a and overnights 12a-5a
- Video Advertising
- Lead Generation
- Display Advertising
- Online Conversion Marketing
- Search Marketing
- Facebook Media
- Mobile/Tablet Advertising
- Email Blasts
- Web Design
- Online Tracking and Reporting
- National Consumer Magazines
- Business Publications
- Sunday Magazines
- Local Consumer Magazines
- Free Standing Inserts
- Outdoor Billboards
- Remnant Billboards
- Transit Signage
- Digital Outdoors
- Bus Wraps
- Bus stops and benches
What is a ‘Spinach helpful tip’? Have you ever walked around with something in your teeth, and no one tells you. A real friend takes you to the side and tells you. It may be embarrassing at first but not as bad as finding out at the end of the day when it is too late to do anything about it. Especially if you are trying to create a positive brand image and lead your organization to success!