Sitting through multiple sessions of marketing management and media mix planning on the benches of SPJIMR helped me gather valuable insights on strategic brand management. Of all the strategies I learned, I believe the most important for breaking the clutter and increasing the recall value of a brand is to deliver a single valuable proposition consistently to the brand’s target customers. Historically, traditional and digital media have been bought and measured separately by brands as a part of their media mix. While the digital media centers on the idea of real-time execution and response, traditional media has comprised of planned campaigns with prior research on the area demographics. But this status quo has lead to inefficiencies in the impact measurement of campaigns and consistency in delivering the brand’s benefit to the customers.
THE CHANGING MARKETING LANDSCAPE
With the viewing habits in India shifting from living room family entertainment to multiple screens of laptop and mobile phones, it has become furthermore important for brands to synergize their marketing and advertising campaigns across multiple media channels and screens in order to ensure its success.
A few key points that concern every brand manager in this widening digital marketing landscape today include:-
a) Engaging with the customers in their micro moments by placing the product advertisement at relevant positions and screens.
b) Targeting the right customers by identifying those engaged with the brand and additionally identifying prospective customers based upon their demographics, interests and location.
c) Optimizing the ad word bids for achieving the CPC targets and revenue objectives of the campaign.
d) Buying displays and formats in a synergized manner to be able to analyze reports and performance of campaign effectively.
e) Finding right placements for the advertisement with safety measures that protect the brand values and identity.
f) Re-engaging with customers showing interest in the brand by searching it on Google/YouTube.
g) Optimizing the buying of advertisement inventory for better timing of execution as well as cost effectiveness of the campaign.
But even after spending millions of dollars on advertising and buying of digital and traditional media for optimizing the above mentioned strategies, brand managers often fail to capture the attention of their target audience and create the desired response for their product. Reason- The lack of synergy in the campaign across different channels.
So, What if we could bridge the gap between traditional and digital media advertising?
What if an advertiser could control advertisement purchasing, creating and measuring of campaigns across desktop and mobiles from a central dashboard?
The latest initiative of GOOGLE aims exactly to do that and make the life of a brand manager simpler. Google’s Double Click Bid manager is the first step towards allowing advertisers to manage their campaigns across digital and traditional media in more efficient and effective manner. Moreover, by tying up with companies like Google Fiber, Wideorbit and Clypd, the company has ensured seamless service and access to both local and national traditional advertisement inventory. In effect, this means that advertisers not only will be able to purchase the inventory from Google but also, will be better able to view the consolidated impact, insights and data collected of their campaigns through one screen. This will enable the advertisers to measure whether a customer searched for their brand on Google or YouTube.
Fig- Managing Media using Double click bid manager
With the world welcoming smart televisions in their houses, I believe that with this one of its kind move taken by Google in the space of advertising will the help the brand capture the largest share of the advertising budget pie globally in a few years of time. The proof of the concept can be seen in the results of campaign run by L’Oréal Canada (Video attached below) with the help of Google’s double click bid manager, wherein the company is anticipating two fold rise in expected sales and a return on ad spend of 2200% in the financial year.