The ROI study Finance Sales return A metaanalysis
- Slides: 36
The ROI study - Finance Sales return A meta-analysis of 500+ econometric models 2011 – 2016
3 key questions 1 How effective are campaigns that use print newsbrands versus those that do not? 2 What impact do print newsbrands have on the effectiveness of other media channels? 3 What proportion of the budget should be spent on print newsbrands to deliver optimum total campaign ROI?
The evidence 1 Print newsbrands boost overall campaign ROI by three times on average 2 3 Print newsbrands make TV twice as effective and online display four times as effective Spend on print newsbrands should return to 2013 levels, and can be boosted further by use of digital newsbrands Source: Benchmarketing analysis of 500+ econometric models
The study analysed six categories Retail Finance Automotive Combined services Travel & Transport FMCG
This document looks at Finance - and for some analyses also Combined Services Finance Combined services
How has adspend evolved in the last five years?
SMI data provides a representative picture of actual media mix Actual media spend from booking data provided by 65% of UK agencies Data across all above the line media Detailed breakdown of digital spend across display, video and paid search Breakdown of newsbrand spend across print and digital Source: SMI (Standard Media Index)
Across all categories, total newsbrand spend has declined since 2011 15. 4% 14. 4% 13. 7% 11. 9% 9. 7% 2011 2012 2013 2014 2015 Source: Total available categories SMI 2011 -2015
Digital channels accounted for a third of media spend in 2015 50 % 31. 6% 43. 0% 9. 7% 12. 6% 11. 1% 9. 4% 1. 4% 0% TV Cinema OOH 3. 6% 3. 4% Radio Magazines 5. 8% 7. 6% 2. 1% Print newsbrands Online newsbrands Other digital display Digital video Search Source: Total available categories SMI 2011 -2015
Digital has grown from 21. 7% in 2011 to 31. 6% in 2015 % spend over the year - All categories TV Cinema OOH Radio Magazines Print newsbrands Online newsbrands 2015 7, 6% 2014 Other digital display 2, 3% 11, 4% 2012 12, 5% 2011 13, 7% 0% 10% 20% 30% 40% 50% 60% Search 2, 1% 9, 6% 2013 Digital video 70% 2, 3% 1, 9% 1, 7% 80% 90% 100% Source: Total available categories SMI 2011 -2015
In finance digital spend has increased at the expense of newspapers % spend across the year – Financial services TV Cinema OOH Radio Magazines Print newsbrands Online newsbrands 2015 7, 7% 2014 2012 2, 1% 10, 7% 13, 1% 0% 10% 20% 30% 40% 50% Search 2, 1% 9, 8% 2011 Digital video 2, 0% 8, 3% 2013 Digital display 60% 1, 9% 1, 6% 70% 80% 90% 100% Source: Financial services SMI 2011 -2015
Across all categories print newsbrand spend has declined since 2011 13. 7% 12. 5% 11. 4% 9. 6% 7. 6% 2011 2012 2013 2014 2015 Source: Total available categories SMI 2011 -2015
In finance, spend in print newsbrands has also declined 13. 1% 10. 7% 9. 8% 8. 3% 7. 7% 2011 2012 2013 2014 2015 Source: Total available categories SMI 2011 -2015
Has the pendulum swung too far?
Our exploration
Econometrics – identifying and assigning a weight to the ingredients driving sales Advertising x medium and message PR, Media mentions, Buzz Pricing vs competitors Store universe changes Product/Range changes Brand awareness/perceptions Competitor marketing Competitor routes to market Technological change Seasonality Economic change
Calculating revenue return on investment (RROI)
Calculating revenue return on investment (RROI) Spend £m Sales £m due to spend RROI Channel 1 £ 2. 5 £ 3. 0 1. 20 Channel 2 £ 0. 5 1. 00 Channel 3 £ 1. 5 £ 3. 0 2. 00 Channel 4 £ 1. 0 £ 1. 50 Channel 5 £ 0. 6 1. 20 Total £ 6. 0 £ 8. 6 1. 43
A meta analysis of multiple econometric cakes
Defining the relationship between spend and revenue return £ 1, 6 Each dot on the graph represents a case in our Results Vault £ 1, 4 R 2 = 0, 9556 Revenue ROI £ 1, 2 £ 1, 0 £ 0, 8 £ 0, 6 Here the data suggests as the % of print newsbrands in the mix increases, so does effectiveness £ 0, 4 £ 0, 2 £ 0, 0 0% 10% 20% 30% 40% 50% 60% 70% Print newsbrands % of total communications spend This is an example chart, not real data 80% 90%
Creating tertile groups of cases shows the revenue return for low, medium and high spend levels £ 1, 6 £ 1, 4 Revenue ROI £ 1, 2 £ 1, 0 £ 0, 8 £ 0, 6 £ 0, 4 £ 0, 2 £ 0, 0 0% 10% 20% 30% 40% 50% 60% % of total communications spend £ 1, 2 £ 1, 0 £ 0, 8 £ 0, 6 £ 0, 4 £ 0, 2 £ 0, 0 Tertiles of % of total communications spend This is an example chart, not real data 70% 80% 90%
1 How effective are campaigns that use print newsbrands versus those that do not?
Finance Automotive 2015 spend levels 7. 9% Finance 2015 spend levels 7. 9% £ 8. 47 £ 6. 76 Print newsbrands boost overall campaign ROI by up to 5. 7 times Total campaign revenue ROI £ 3. 91 £ 1. 49 No print newsbrand spend Low 2 -5% Medium 7 -22% High 22 -37% Print newsbrand % of total campaign spend Source: Benchmarketing/Brand Science Results Vaults 2011 to 2015
2 What impact do print newsbrands have on the effectiveness of other media channels?
Combined services £ 12. 22 Print newsbrands make TV spend work twice as hard TV revenue ROI £ 6. 49 No print newsbrand spend £ 10. 82 £ 5. 72 Low 2 -10% Medium 10 -12% High 12 -18% Print newsbrand % of total campaign spend in combined services Source: Benchmarketing/Brand Science Results Vaults 2011 to 2015. Combined services includes: Finance, Retail, Telecoms, Travel & Leisure, Media, Government/Social/Political, Other Services(Online & Offline)
Combined services £ 55. 98 Online display revenue ROI £ 17. 42 Print newsbrands boost online display and video by up to four times £ 20. 96 £ 12. 46 No print newsbrand spend Low 2 -10% Medium 10 -12% High 12 -18% Print newsbrand % of total campaign spend in combined services Source: Benchmarketing/Brand Science Results Vaults 2011 to 2015. Combined services includes: Finance, Retail, Telecoms, Travel & Leisure, Media, Government/Social/Political, Other Services(Online & Offline)
Finance Automotive Finance 2015 spend levels 7. 9% £ 13. 33 £ 12. 10 £ 8. 28 Print newsbrands also boost online RROIs by an average of 2. 3 times in finance Online display revenue ROI £ 4. 84 No print newsbrand spend Low 2 -10% Medium 10 -12% High 12 -18% Print newsbrand % of total campaign spend in finance Source: Benchmarketing/Brand Science Results Vaults 2011 to 2015
Finance £ 40. 45 £ 55. 82 £ 11. 34 £ 4. 02 Low 2 -7% 7. 9% Combined services: print newsbrands boost radio revenue by up to 10 times Radio revenue ROI No print newsbrand spend Automotive Combined Finance services 2015 spend levels Medium 7 -22% High 22 -37% Print newsbrand % of total campaign spend in combined services Source: Benchmarketing/Brand Science Results Vaults 2011 to 2015. Combined services includes: Finance, Retail, Telecoms, Travel & Leisure, Media, Government/Social/Political, Other Services(Online & Offline)
Finance 2015 spend levels 7. 9% £ 3. 21 Print newsbrands boost radio revenue by up to 1. 9 times in finance £ 3. 15 Radio revenue ROI £ 1. 70 £ 0. 45 No print newsbrand spend Low 2 -7% Medium 7 -22% High 22 -37% Print newsbrand % of total campaign spend in finance Source: Benchmarketing/Brand Science Results Vaults 2011 to 2015
3 What proportion of the budget should be spent on print newsbrands to deliver optimum total campaign ROI?
900 The data from the meta analysis allows us to build response curves for each channel, by which we calculate the optimum split for any given budget Online Display TV Online Search Newspapers VOD Revenue £m Outdoor Magazines Radio TV Sponsorship Cinema 0 Media investment £m 80 Source: Brand. Science channel planning sales analysis 2015
Print newsbrands should form a significant proportion of the mix for finance brands 62% 51% 34% 26% 21% 5 10 15 20 25 17% 30 15% 35 13% 40 12% 45 11% 50 Recommended % spend on print newsbrands to optimise total campaign ROI Source: Brand. Science channel planning sales analysis 2015
Finance Typical spend p. a. £m Print newsbrand spend % 2015 Print newsbrand % spend for maximum campaign effect £ 25 m (higher spends £ 50 m) 8% 21% 13% for higher spends Source: Brand. Science channel planning sales analysis 2015
The pendulum has swung too far for print newsbrands in finance – and advertisers are missing out 13. 1% 10. 7% 9. 8% 8. 3% 7. 7% 2011 2012 2013 2014 2015 2016 2017 Source: SMI (Standard Media Index)
The evidence 1 Print newsbrands boost overall campaign ROI by three times on average 2 3 Print newsbrands make TV twice as effective and online display four times as effective Spend on print newsbrands should return to 2013 levels, and can be boosted further by use of digital newsbrands
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