Wednesday, 2 May 2012

Revitalising the media multiplier effect

A decade ago, it was the buzzword and everybody used to talk about the multi-benefits of media multiplier effect. It is pounding the consumers with the same marketing message through all channels at the same time – so that a consumer sees a brand displayed on a hoarding while passing through a major junction, hears the product jingle in FM radio, reads the message in daily newspaper and watches the product commercial in television. However, with the onset of the 21st century and the advent of social media, the concept is being sidelined. With the evergrowing Web 2.0 and the fascination for the social networks, the marketing and advertising concepts have completely changed and so has the media multiplier concept.

The three famous buttons
You must have noticed the three famous buttons splashed everywhere at the end of any online article – share this through Twitter, Facebook or Google Plus. More buttons are being added to the list, LinkedIn and Pinterest being the most prominent ones. In a way these buttons are replacing the traditional media multiplier effect efforts. It’s quite easy to click these buttons and share the news, advertising or any other piece of writing to your followers and acquaintances. If the stuff is interesting, they further share the same with their followers and acquaintances, thus, spreading the word much faster than expected.

BTL versus online marketing
Below the line (BTL) refers to non-classical ways of communication and promotion in opposition to classical advertising through mass media. The hoarding boards at prime junctions and promotion materials at the point of sales still do the trick of promoting your brand. However, the consumer has to walk the extra mile to see your brand. Suppose they don’t get to see your message – it means they will be unaware of your brand and its benefits.

To bridge the time gap, the internet has come to the rescue of marketers. Media and specifically online advertising can be powerful in creating consumer awareness and attracting them to the product websites. Social networking sites as well as specific product-related blogs, open forums, online guides, wikis and consumer communities are fast emerging and provide opportunities to initiate positive word-of-mouth publicity and strengthen brand recognition and loyalty.

Consumer marketing versus cooperative marketing
Consumer marketing includes activities that are directly aimed at reaching end-consumers and stimulating interest and ultimately demand.

Cooperative marketing includes joint advertising, joint media and press relation activities, cooperative publication of promotional leaflets, sponsoring of client events and distribution of promotional materials, and developing joint budget allocation to share costs for activities among partners.

Cooperation makes work easier.
Joint marketing provides a clear financial advantage, as costs for marketing activities can be shared among marketing partners. Moreover, joint marketing may have the advantage of increased consumer awareness through brand alignment and mutual brand endorsement.

Collaborating with strong brands help to build trust and brand credibility for the upcoming brand, among consumers.

You can develop ideas for creative, innovative and fun campaign concepts (i.e. including a consumer competition component) that initiate participation, high involvement and viral distribution through word-of-mouth, social media and online channels. Establish strategic marketing partnerships with industry partners, interest groups, associations and brand companies and develop joint/cooperative marketing activities.

Media versus public relations
Journalistic media coverage including features on TV programmes, print magazines and newspaper articles can be influential in creating awareness and inspiring consumers in their purchase decision. Strategic and targeted media relations and PR are therefore important.

Develop and implement a media release programme with quarterly media newsletters. Pitch stories around the product to media representatives through one-on-one media calls (face-to-face, email, phone). Use networking events to initiate media contacts and organise specialised media events such as press conferences and press events. Develop a press pack with background information including a fact sheet. Initiate media cooperation and media promotion activities such as reader competitions.

Celebrity endorsements versus events
It still bears a question mark – whether celebrity endorsements work or consumer targeted events work better. However, there is no harm to appoint a celebrity who matches your brand persona. S/he will at least pull her/his followers to your brand. Plan interactive events involving your celebrity and you will see the hordes of increasing consumers.

Now put together all mentioned above, squeeze out the best ones and remember to place your message everywhere, in each media, targeting all your consumers – and you will see your media multiplier effect bearing results!

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