Post on 12-Apr-2017
Created by you, for you.
Alessia Arcuri
Bartlomiej Birgiel
Lina Adade
Niccolo Campa
Shandia Vythilingum
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W1486165
W1499410
W1496029
W1478506
Digital & Direct Marketing | BMKT607
30/11/16
Index
1 | Client Overview
2 | Competitors
3 | Our Challenge
4 | Target Audience
5 | Creative Idea
6 | Social Media Campaign
7 | Testing, Time and Budget
8 | Metrics
9 | Database
10| Mandatories
Client Overview
Brand’s Values
1843
2016
“We provide our readers (student, corporate
and academicians) with short and straightforward articles to smart up their information consumption” (Garber, 2011).
Journalistic Freedom Global Perspective Quality Information
Competitors
Newsweek The Time
The Wall Street JournalThe Financial Times
Marketing & Database Objectives
Acquisition:
To raise the percentage of subscribers from 29% to 40%
by the end of 2017.
Retention:
To retain 40% of existing subscribers by December
2017.
Database:
To retain 40% of existing male subscribers by December 2017
To increase the rate of female loyal subscribers by 40% by
December 2017
To increase the rate of customer lifetime value by 10%
by December 2017
The Current Situation
More Male Oriented:13% of readers are women
(Nieman Lab, 2016)
Businessmen & Well educatedaverage age - 47
(WSJ, 2009)
Associated perceptions
Serious’ (WSJ, 2009), ‘Moderate, quirky and unconventional’
(Time Dorks, 2016).
69% of young people in 2014 had no feelings towards
the Economist (Statista, 2016)
Businessmen, Average age - 47 (WSJ, 2009)
Characteristics
Wealthy (WSJ, 2009)Well educated
Sophisticated and affluent Tech-savvy
‘Globally curious’ (IDM, 2016)Ethical (IDM, 2016)
Professionally minded
Most likely reads
‘Global, political, social, economic and business news’ (Time Dorks, 2016)
Issues that influence and shape our world (IDM, 2016)Banter, debates, expertise, risk, crisis and economy (IDM, 2016)
The Current Target Audience
Females: The Wanted Target Audience
Women aged 21-29
Characteristics
University studentsFinancial aid - Student Finance
Graduate jobs with a steady incomeTech-savvy (The Guardian, 2015)
Keen to learn new things
Most likely reads
Human topics (IDM, 2016)Narrative hooks (IDM, 2016)
Advertisements (INMA, 2013)Business, family, social development, research, seeking
connections and ensuring intimacy (IDM, 2016)
The Economist is currently perceived as more
men oriented
Aim of our communication strategy
- | Redirect The Economist towards business women;
- | Increase female readership;
- | Attract more readers amongst the younger generation
aged 21-29;
- | Build more loyal relationships;
- | Create strong CLTV;
- | Integration and implementation of unisex topics .
Why Now?
Slogan
Creative Idea
Stands Pop-Up Store Social Media Content
University Stands
Subscription Form & Email Template
Pop-Up Shop
Partnerships
Personalised Gadgets
Advert
Advert on Social Media
“ Created by you for you.Personalise your news Today.
Subscribe Now! ”
Social Media Campaign
Online Subscription Form
Social Media Campaign
Demographic
Age 20 - 29
Gender Females - Males
Education Level Degree, Master, PHD
Occupation Students, Academicians, Economics, Finance, Management, HR, Marketing
Geographic
Country The UK
City London
Psychographic / Interests
Pages The Economist, The Telegraph, The New York Times, Forbes, Business Insider, BBC News, Bloomberg, Financial Times, Tech Insider, Entrepreneur, Goldman Sachs, HSBC, Morgan Stanley, Deutsche Bank
Celebrities Richard Branson, Robert Kiyosaki, Peter Sage, Tai Lopez, Keith Weed, T Harv Eker
Books The Little Prince, The Fountainhead, Atlas Shrugged, The Secret, The Art of War, Rich Dad Poor Dad, The Black Swan
Targeting
Customer Journey
1 | Exposure
Geolocation (London,UK) and
exposure to Billboards.
Digital Exposure.
2 | Awareness 3 | Engagement
University Stand & Pop-Up Store
(Direct )
Advertisement, Social Media and Forum.
(Digital )
Customer Journey
4 | Incentives 5 | Evaluation 6 | Subscriptions
Gadgets & Customised Content
Existing & New
Subscribers will be
invited to share on The
Economist’s forum
feedback and
suggestions.
£12 for 12 Weeks:
Print, Audio
+ Digital Version.
7 | Advocating a Bond
Positive WOM & Loyal Relationships.
+40%
Database
DEMOGRAPHIC BEHAVIOURALPSYCHOGRAPHICTRANSACTIONAL
Age & Gender Type of Subscription Interest Occupation
To identify our new target audience
To customise offers and topic available
New Customers
+29%Existing Customers
Testing, Time & Budget
Jan 2017Dec 2016
Focus Group, Message Testing
Campaign Preparation,
Stands at University
Digital Campaign Launch
4 Weeks: Every Monday
1 Year: Jan 2017 – Dec 2017
Feb 17 Mar 17 Apr 17 May 17 Jun 17 Jul 17 Aug 17 Sept 17 Oct 17 Nov17 Dec 17
Pop-Up-Store,5 Weeks : Each
Monday.
Time Lapse Advert
Direct & Digital Campaign
Testing, Time & Budget
Message Testing:
One Focus Group
£3000
(Nielsen, 1998)
University Stands:
£1400 per stand 4 weeks = £5600
Pop Up Store:
Per day - £1255 stations = £625
Billboard and Time Lapse:
Billboard - £500 to £1,500 per month.
Day Shoot - £350 (Construct Films, 2016)
Instagram:
CPM - $6.58 / CPC - $0.44
Facebook:
CPM - $5.21 / CPC - $0.25
(Rodriguez et al., 2016)
Direct Campaign Digital Campaign
(Popup Stands UK, 2016)
(Christie, 2014)
Forecasting
Acquire 11% more subscribers by the end of
2017
Shift attitudes 21-29 year olds have of The Economist
from neutral to positive Raise awareness of the benefits of subscribing: cheaper for students,
personalisationIntegrated topics, professionalism
ForecastingForecast 1
Target Age Group: 21-29
Email Response Female Male Total
Quantity mailed
Total clicks
24000
21500
13500
11500
37500
33000
Response Rate 89% 85% 87%
Forecasted Subscription 29-40% 29-40% 40%
Actual Subscription 36% 32% 68%
Year 2 and 3
● Gathering and analyzing data collected from the campaign run in year 1
● Using this to suggest further improvements to The Economist’s content
● Launch same campaign throughout the whole of the UK
● Maintaining our focus on attracting more women
KPI’s
Retention RateCustomer
Acquisition RateCLTVClick Through Rate
(Total clicks / Sent Emails) * 100
Insight into how many customers engage with
content.
Number of customers retained to the number
at risk.
Track the change in ability of firm to retain
customers.
Total Acquisition expense / total of new
customers.
CLTV = ARPA*% Gross Margin / % MRR
Churn Rate
To track the cost incurred by acquiring
new customers.
To assess the financial value of
each customer.
Return on Investment
Predicted subscribers x 12 - budget / 500,000
To measure the success of our campaign i.e. did our marketing expenditure
translate into sales?
Mandatories
You cannot change or affect the
editorial content in any way and this
should not be considered as part of
your response. However, you do have
the exibility to package together
existing content and tailor /
recommend content for specific
audiences.
To be clear, this isn’t about turning
The Economist into The Economist -
we do not want a campaign that is
patronising or demeaning to
women in any way.
The Economist also doesn’t want to
compromise the integrity of our
Editor, Zanny Minton Beddoes, so do
not use her as a figurehead in your
creative recommendations;
This brief is for a UK pilot only,
running from Jan 2017 to Dec 2017.
Thank you !
Any Questions?Alessia Arcuri, Bartlomiej Birgiel,
Lina Adade, Niccolo Campa,
Shandia Vythilingum.
List of References1. CDN (no date) [online] Available from: <https://cdn.shopify.com/s/files/1/0535/3509/t/14/assets/megaNav-2-A.jpg?10217693323207643085> [Accessed 21 November 2016]2. Christie, S. (2014) ‘We made £2, 000 in a month by selling our clothes in a pop-up store’. [online] Available at:
<http://www.telegraph.co.uk/finance/personalfinance/11180264/We-made-2000-in-a-month-by-selling-our-clothes-in-a-pop-up-store.html> [Accessed: 24 November 2016]3. Construct Films (2016) Pricing. [online] Available at: <http://www.constructfilms.co.uk/timelapse-pricing> [Accessed 24 November 2016]4. Curtis, J. (2016). Newsweek's Print Edition Collapses, Publication to Focus on Digital. [online] The Content Standard by Skyword. Available at:
<http://www.skyword.com/contentstandard/marketing/newsweeks-print-edition-collapses-publication-to-focus-on-digital> [Accessed 23 November 2016]5. Financial Times (2016). Financial Times launches new brand positioning ‘Make the right connections’. [online] Available at: <http://aboutus.ft.com/2016/04/13/financial-times-
launches-new-brand-positioning-make-the-right-connections/#axzz4Qqqd76MI> [Accessed 23 November 2016]6. Garber (2011). “The personal(ized) brand: Yet another reason The Economist is trouncing competitors”. [online] Available at: <http://www.niemanlab.org/2011/11/the-
personalized-brand-yet-another-reason-the-economist-is-trouncing-competitors> [Accessed 15 November 2016]7. Good, (2011) [online] Available from: <https://www.good.is/articles/why-should-women-read-the-economist> [Accessed 21 October 2016]8. IDM (2016). The IDM Brief 2016: The Economist. [online] Available from: <https://learning.westminster.ac.uk/bbcswebdav/pid-1634534-dt-content-rid-4420816_1/courses/
BMKT607.1.2016/Final%20Competition%20Brief%20Economist.pdf> [Accessed 26 October 2016]9. INMA, (2013) Women more likely to read, act on newspaper advertising [online] Available from: <http://www.inma.org/blogs/earl/post.cfm/women-more-likely-to-read-act-on-
newspaper-advertising> [Accessed 01 November 2016]10. Marketing Mine Field (2016) Billboard advertising buying process and expected costs. Available at: http://www.marketingminefield.co.uk/billboard-advertising-costs/ (Accessed: 30
November 2016).11. Mediatel, (2016) 1843: Economist targets affluent readers with new magazine brand [online] Available from: <http://mediatel.co.uk/newsline/2016/03/03/1843-economist-
targets-affluent-readers-with-new-magazine-brand/> [Accessed 21 October 2016]12. Nieman Lab (2016). Only 13% of The Economist’s readers are female. [online] Available from: <http://www.niemanlab.org/reading/only-13-of-the-economists-readers-are-female>
[Accessed 01 November 2016]13. Nielsen, J. (1998) Cost of running a focus group: Article by Jakob Nielsen. Available at: https://www.nngroup.com/articles/focus-group-cost/ (Accessed: 30 November 2016).14. Nrs.co.uk. (2016). Magazines | National Readership Survey. [online] Available at: <http://www.nrs.co.uk/latest-results/facts-and-figures/magazines-factsfigs> [Accessed 23
November 2016]15. Online Magazines, (2016) [online] Available from: <http://onlinemagazines.org/the-economist-4-june-2016/> [Accessed 21 November 2016]16. Popup Stands UK (2016). Popup exhibition & Tradeshow display stands with integrated TV & Flatscreen monitors. [online] Available at:
<https://www.popup-stands-uk.co.uk/store/pop-up-stands-tv-monitor-stand> [Accessed 24 November 2016]
List of References
15. Pandey, R. et al., (2016). Wall Street Journal’s new content strategy and what brands can learn from it. [online] Marketing Interactive. Available at: <http://www.marketing-interactive.com/wall-street-journals-new-content-strategy-brands-can-learn> [Accessed 23 November 2016]16. Rodriguez, G. et al., (2016). Home. [online] Available at: <http://fitsmallbusiness.com/how-much-does-facebook-advertising-cost> [Accessed 24 November 2016]17. Statista, (2016). Media brands rated by young people in the United Kingdom (UK) 2014. [online] Available from: <https://www-statista-com.ezproxy.westminster.ac.uk/statistics/314466/favorite-media-brands-of-young-people-uk> [Accessed 01 November 2016]18. TBN, (2015) Opportunity for business media with women readers [online] Available from: <http://talkingbiznews.com/1/opportunity-for-business-media-with-women-readers/> [Accessed 29 November 2016]19. TechTarget, 2016 [online] Available from: <http://searchcio.techtarget.com/definition/C-level> [Accessed 25 November 2016]20. The Economist (2016). “The Economist Group”. [online] Available at: <http://www.economistgroup.com/what_we_do/our_brands/the_economist_brand_family/the_economist.html> [Accessed 15 November 2016]21. The Economist (2015) Annual report 2015. [online] Available at: <http://www.economistgroup.com/pdfs/Annual_Report_2015_FINAL.pdf> [Accessed 8 November 2016]22. The New York Times (2010) The Economist Tends Its Sophisticate Garden [online] Available from: <http://www.nytimes.com/2010/08/09/business/media/09economist.html?_r=0> [Accessed 21 October 2016]23. Time Dorks (2016). Why I ignore the daily news and read The Economist instead (and how you can too). [online] Available from: <https://medium.com/time-dorks/why-i-ignore-the-daily-news-and-read-the-economist-instead-and-how-you-can-too-53f4d255efa6#.evk2paihq> [Accessed 1 November 2016]24. Twitter (2016) [onlone] Available from: <https://twitter.com/theeconomist> [Accessed 21 November 2016]25. WSJ (2009). The Economist Targets U.K. Readers. [online] Available from: <http://www.wsj.com/articles/SB124648859021982843> [Accessed 21 November 2016]