Optimizing Your Multichannel Media Mix
Posted by Universal Ad at Monday, July 30, 2007 5:35 AM and is filed under multi-channel,Advertising,media 
This Multichannel Merchant article reviews the important issue of using historical campaign data in order to determine cross-channel media budget allocation strategies.
Plenty of highly valuable data exists in every retail organization but it is not used to determine media placement. Instead, planners and buyers usually rely on previous plans, as well as their own intuition and preferences. This can be changed by relying on a process that, as a side benefit, can also help quantify the impact of each channel. Results, for example, can show that the a retailer's direct mail campaign needs to be synchronized with their TV campaign, or that the ROP ad budget needs to be shifted online.
Taking a quantitative approach to media planning can be quite a handful as all the relevant (internal and external) information needs to be integrated but there are some takeaways even for those who aren't in a position to take the leap. For example, consider the marketing spend of your competitors because "media effectiveness directly correlates to a merchant's share of voice in the marketplace."
Plenty of highly valuable data exists in every retail organization but it is not used to determine media placement. Instead, planners and buyers usually rely on previous plans, as well as their own intuition and preferences. This can be changed by relying on a process that, as a side benefit, can also help quantify the impact of each channel. Results, for example, can show that the a retailer's direct mail campaign needs to be synchronized with their TV campaign, or that the ROP ad budget needs to be shifted online.
Taking a quantitative approach to media planning can be quite a handful as all the relevant (internal and external) information needs to be integrated but there are some takeaways even for those who aren't in a position to take the leap. For example, consider the marketing spend of your competitors because "media effectiveness directly correlates to a merchant's share of voice in the marketplace."
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