Catherine discusses the complexities of the media market in the second half of 2022.
The remainder of the year will be interesting for dynamic growth brands. While brands will be looking to grab customers’ attention in this historically busy second half of this year, some unique challenges will make it slightly different from last year. Getting your brand seen in the year’s second half could be a tad more complex due to increased demand in the media market.
With the World Cup happening in November for the first time, rising costs, and inflation in general, marketers have a lot to contemplate. Catherine Aithal, Strategy Partner at The Specialist Works, joined the What’s Possible Community to share some actionable advice on what dynamic growth brands can do to maximise their marketing budget’s return on investment and get their brand seen.
2022 will go down as the only year that had a major football tournament in the peak TV advertising period of Q4. Brands are looking to TV to get their brand seen by consumers during the tournament and gain some attention just before Christmas.
Catherine says booking airtime early will be necessary for brands targeting premium, affluent, harder-to-reach individuals. She warns that TV as a channel will be expensive and is expected to be very cluttered.
“If you haven’t started booking that period from a TV perspective, do so. It’s already becoming more challenging,” Catherine cautioned.
For brands with more modest budgets entering the cluttered market, Catherine asserts there are still many opportunities for brands to reach their audiences if they work alongside their agency partners. Identifying media channels with more fixed costs that efficiently reach target audiences could unlock added brand reach.
“There are opportunities in Out of Home, press, and online. If you’re priced out from a TV perspective, you can use that ad in other places like AVOD, BVOD, etc.,” Catherine said.
Booking early where possible is the best way of guaranteeing a good amount of space. However, for brands that can’t book in advance, Catherine suggests saving some budget for any last-minute opportunities that arise – which could be heavily discounted.
With brands looking to get value for money in their marketing budgets, which may be priced out of more expensive media channels, alternative solutions are being floated to secure reach cost-efficiently. Under-utilised marketing techniques like sponsorships are gaining momentum.
Catherine advises that knowing what your audience will be receptive to is important when looking for alternative ways of building brand awareness.
“If you’ve done your audience work properly, and you really get under the skin of your target audience, you should get a good feeling of which brands they are interacting with, things they are doing in their spare time, shops they are visiting, all those sorts of things,” she explains.
Catherine says after the audience work is done, brands can start exploring sponsorships opportunities, brand partnerships or smaller media owner-partnerships. These could help a brand achieve awareness from a much more targeted audience instead of a mass-market target.
All things considered, however, Catherine stresses that layering up the media channels you are visible on will ensure you see more return on investment. Even brands with lower budgets should prioritise layering the number of media channels they are on.
“The more channels you have in your plan, even on a small budget, the better it is for your return on investment. If you’re doing your audience analysis correctly and you’re layering up those channels, the overall effect will be that you’ll have a more effective campaign,” Catherine concluded.