First and foremost, look at your cost per mile and compare unilaterally across the board. When BVOD is delivering $45 cost per mile, and Meta is delivering $4.50 the argument exists that you can reach 10x more people on Meta than on BVOD, with sharper targeting, and a more native presence.
Overlay that with the six figure cost of producing a TVC and the real CPM is even more disparate.
The most common mistake we see FMCG Marketers make is they overindex on old media channels that are no longer relevant, and underspend on the channels that are delivering the best ROI.
Compare this to social media, where rather than investing in one big creative TVC that only speaks at your audience, you could instead create 20-30 different pieces of creative that all speak to your audience’s individual needs. The perfect example of this is what an organic yoghurt brand means to a young mum giving her bub first foods, versus an older consumer worried about osteoporosis versus a gym buff looking to hit his daily protein goals. Aren’t we better to create content that speaks to each of these audiences in a way that is most relevant to them? Social media is one of the few marketing platforms where customers’ needs can be so deeply segmented to deliver the strongest emotional connection between a brand and its customers.
The social media algorithm is targeted beyond comprehension, and yet we see so many marketers trying to create one blanket message to every single one of their millions of customers and wondering why it doesn’t land?
The other mistake we commonly see is a retail media spend that focuses too much on visibility over close conversion proximity. The lack of common sense here is astounding – why would you spend on a supermarket EDM that gets deleted before it’s even read, when you can target a customer in the very moment when they’re searching for ‘yoghurt’ when shopping online? Why aren’t more marketers harnessing the ability to target customers who have purchased the exact SKU in the past two years, but instead investing in in-store radio that no-one has even ever heard. Because it’s cheap?? What’s the true cost? Let’s just say there’s a reason it’s really cheap, I can’t remember the last time I actually even heard what the radio was saying in a supermarket. I think I heard a jingle once, a few years ago, before everything was turned down for ‘sensory hour’.
What most brands need is experience in these channels to know the likely outcomes, and being a specialist FMCG marketing agency this is exactly what we bring to the table – 18 years of learnings across multiple FMCG brands in multiple categories. We’ve seen it all before and can effortlessly lay out a solid plan that will stretch your marketing budget further than you could imagine, and we’ve got the case studies to prove it!
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