Channel Mix
Campaigns are more effective with each additional channel added, and vary dramatically in their attention elasticity.
"Spending the same amount of money across more media channels boosts the returns you get in Revenue and brand strength... Econometrics reports a huge 35-65% more ROI. And, according to Kantar, you can more than double the effect on your brand... For this strategy to work, ideas will have to be ruthlessly stuck to, but versatile. The look and feel will have to be beautiful everywhere. Marketers will need a matching set of luggage" — In brand building, it’s the little things that count now
"Each additional media channel drives an additional 11% improvement in revenue ROI" — The Multiplier Effect
"Media channels are often 'double duty', paying back over both short- and long-term timescales." — The Multiplier Effect
The channels with the most even mix:
- Streaming video
- Digital video
- Traditional TV
- Social
The channels most geared toward Activation: - Radio
- OOH
- Paid search
"All channels generate profitable returns, but to varying extents. The average Profit ROI of advertising is dragged up by stronger media (or down by weaker media). TV, for example, delivers a full Profit ROI of £5.61. This compares with £3.86 for Online Video (mostly YouTube) and £3.52 for Generic PPC." — Profit Ability 2, The New Business Case for Advertising
"An advertising channel’s ‘saturation point’ is the maximum point where an additional £1 invested in a channel generates at least £1 in profit (it is sometimes referred to as the ‘breakeven point’). Linear TV saturates at a level nearly 3x higher than the next largest channels – a function of TV’s strength to reach large groups of people at relatively low entry costs. In contrast, channels like Paid Social and Online Display saturate relatively quickly" — Profit Ability 2, The New Business Case for Advertising
"Specifically for lower funnel performance, he says TV only has a two per cent chance of influencing an auto customer. But it has a 50 per cent chance in personal care. And there are some interesting non-category specific findings for channels like influencers, which in lower funnel terms, is trumped by print ads." — Mi3