Warby Parker Strategic Media Plan Sample

2

2014 STRATEGIC MEDIA PLAN

Report by Tiara Dees

2014 Strategic Media Plan > Warby Parker | 3

T A B L E O F C O N T E N T S I. EXECUTIVE SUMMARY ...................................................................................................................... 4 II. SITUATION ANALYSIS ...................................................................................................................... 5 COMPANY: WARBY PARKER EYEWEAR ............................................................................................................... 5 CURRENT MARKET & CONSUMERS: ..................................................................................................................... 6 Current Demographical Trends for Eyewear Industry ...................................................................... 6

COMPETITIVE LANDSCAPE ..................................................................................................................................... 7 SWOT ANALYSIS ..................................................................................................................................................... 9

III. OBJECTIVES ..................................................................................................................................... 10 MARKETING OBJECTIVES ...................................................................................................................................... 10 COMMUNICATION OBJECTIVES ............................................................................................................................ 10

IV. CONSUMER TARGET MARKET ................................................................................................... 10 PRIMARY TARGET MARKET PROFILE ................................................................................................................ 10 SECONDARY TARGET MARKET ............................................................................................................................ 13

V. CONSUMER TARGET MARKET STRATEGY .............................................................................. 16 MONTHLY REACH AND FREQUENCY ............................................................................................................ 17 SPOT MARKET GEOGRAPHY ................................................................................................................................. 18 TIMING & STRATEGY ............................................................................................................................................. 19 SCHEDULING & MEDIA MIX ................................................................................................................................. 20 Possible Programming Choices .................................................................................................................. 21

DIGITAL MEDIA & SALES PROMOTIONS ............................................................................................................ 22 VI. MEDIA SCOPE & BUDGET ............................................................................................................ 24 REACH & FREQUENCY FLOWCHARTS: SPOT/NATIONAL MARKETS ............................................................ 24 BUDGET RECAP ...................................................................................................................................................... 26

VII. ENDNOTES & SOURCES ............................................................................................................... 27


I. Executive Summary The Company

WARBY PARKER EYEWEAR was founded in 2008 with a unique vision to create change within the eyewear industry. To do this, founders Neil Blumenthal and Dave Gilboa borrowed $150,000 and one and a half years later, launched the business that completely changed the way eyeglasses were purchased. Setting a price point of $95, Warby Parker changed the way an eyeglasses manufacturer did business with its customers. Gone were the licensing fees, and high markups for quality frames. Gone was the uncomfortable experience trying on new frames in store, only to return them because the frames did not turn out to be what the consumer expected. Not only did Warby Parker innovate the industry by allowing the consumer more time to try on glasses and find the perfect fit through its home try on program, but this unique eyewear manufacturer guarantees that with each pair sold, another pair would be given to someone in need.

The Problem

THOUGH WARBY PARKER innovated the eyewear scene, the competition is still tough, and there is a lot room to grow within this industry. The eyewear industry is a massive one, and with few large competitors such as Luxottica, Safilo and De Rigio with the majority of market share within this industry. Luxottica, for example, owns Oakley brands, as well as upscale eyewear stores such as LensCrafters, Pearle Vision and the Sunglasses Huts. So the problem is “how does Warby Parker compete with large competitors that have such an impact on an industry?”

The Solution

THE ANSWER to that question is through the way Warby Parker reaches and engages its customers through media. In the past, Warby Parker has targeted the youthful and spirited millennial generation. This generation has shown to be extremely active online, and cares about Warby Parker’s “do good” mission, as well as brand. However, there is an untouched market within the Generation X group, as these older people are often inspired by their younger counterparts in terms of style, and online activity. Through targeting both of these groups, Warby Parker will be able to expand its reach and begin to overtake this industry from its overpriced competitors.

The Vision

THE FOLLOWING 2012 strategic media plan will outline this vision for success through covering several areas such as the consumer target markets, competitors, media mix and more to reach a national base, and six spot markets across the country. Through enacting this strategic media plan, Warby Parker will be able to continue to fulfill its core values and bring a quality product to its consumers for a lower price.


II. Situation Analysis

WARBY PARKER conducted research on the current US market to gather

information about the current eyewear market and its competitors. This research was based

mainly off of secondary research, which included demographic and psychographic data,

media data, and Internet sources.

Company: Warby Parker Eyewear

According to the case study packet, Warby Parker Eyewear was named after two

literary figures and was created after Neil Blumenthal broke an expensive pair of glasses.

Blumenthal and Wharton MBA classmate Dave Gilboa decided to create an eyewear

company specifically that would “disrupt an industry” and “…create an iconic fashion brand

[…] that did good in the world.”1 Today, their vision has come to light, as Warby Parker is

valued at $300 million, and “…within two years, the online eyewear retailer sold out of 15

styles of glasses in four weeks and built a wait list of 20,000 customers.”2

Warby Parker Eyewear only costs $95, instead of several hundred dollars compared

to its major competitors.3 The firm is able to accomplish this price point by ordering

materials directly from suppliers and creating its own unique styles that are not marked up

through licensing fees.4 Warby Parker allows consumers to try on glasses for free with their

home try on program, as well as donates a pair of glasses to the needy through the “Buy One,

Give One” program.

Though there are plenty of advantages to Warby Parker’s competitive strategy, there

are also disadvantages. One major disadvantage is that the $95 price point could rise


depending on how expensive it is to obtain materials such as acetate to produce glasses.

Another disadvantage is that Warby Parker’s policy of only hiring millennial employees

could allow them to miss out on key opportunities to grow their company and increase

market share by targeting older consumers, as this specific market could be ideal for

continued growth.

Current Market & Consumers:

According to data from the Vision Council Consumer Barometer, “…23% of people

say they are likely to buy a new pair of prescription glasses in the next six months” and

Mintel reports that the sales of prescription eyeglasses is expected to grow 15% by 2018.5

According to the case study packet, there is data “that makes it clear that this category is

growing, likely because of the recovery from the recession has caused people who had been

putting off the purchase of new glasses…” to buy eyewear now. A potential threat to the

wearable eyewear industry is laser eye surgery. According to the case study packet, “…while

only 3% of current recipients of eye surgery used to wear glasses or contacts, a hefty 35% of

current or potential corrective vision users say they are interested in this procedure.”6

The following table is pulled from the case study packet, detailing the market

demographical trends for the wearable eyewear industry:

Current Demographical Trends for Eyewear Industry7 Age Adults, 55+ Ages 65-74 expected

to increase by 21% by 2018.

Young people are more likely to care about brand names

or style.

Race Asian Americans more likely to purchase

Hispanic market expected to grow 12%

by 2018.


Gender Female Females are more likely to own more than one pair of

glasses

Men or women are not satisfied with

selection in optometrists’ offices and more likely to purchase online.

Figure 2-1 (Table source: Warby Parker Case Study Packet)

To summarize, there is potential growth in the eyewear market, especially with

groups that are older, female, and more focused on style. These groups are also less satisfied

with eyewear stores, and are willing to shop online for their glasses purchases.

Competitive Landscape

The eyewear market in the United States is a massive one. According to data by

Euromonitor, the eyewear industry in the US has made almost $30 million so far in 2013.8

According to the case study packet, the top three competitors to Warby Parker are

Luxottica brands (which include brands such as Oakley and owners of eyewear retailers such

as LensCrafters, Sunglasses Hut and Pearle Vision), Safilo Group (which brands include

Dior and Hugo Boss), and De Rigo (which brands include Givenchy and Fila).9

Competition in the eyewear industry is especially tough as competitors are large and

take the majority of the market share. The above table by Euromonitor in Figure 2-2 shows

the current market share for major competitors in the eyewear industry at this time and how

large the competitors have grown over the past few years.

However, though competition is tough, Warby Parker has advantages over big

eyewear companies like Luxottica. According to a report titled “Luxottica Retail North

America Inc in Eyewear (USA)” by Euromonitor, the large eyewear retailer has online


websites for Pearle Vision or LensCrafters, but do not have a way for customers to purchase

glasses online.10 The reason is “…due to the inherent challenges of buying prescription

spectacles online.” Euromonitor also cites that “…when buying spectacles, consumers tend

to test various options to gauge the fit and style of a pair of before making a decision.”11

Warby Parker has a potential advantage over Luxxotica through online sales, as more

consumers (young and old) are shopping online for eyeglasses, and Warby Parker’s five day,

five pair home try on program give consumers a longer amount of time to test eyewear for

free.

Price can also play a large role in Warby Parker’s competitive strategy. Though many

are driven to expensive brands such as Oakley or Dolce & Gabbana, Warby Parker’s $95

price point may drive more cost-conscious consumers to purchase over expensive brands.

According to research that was included in the case study packet by Mintel, 45% of

consumers in a survey answered that they would “replace my glasses more often if they were

not so expensive,” compared to 13% of consumers in the same study that stated that they

would purchase “the latest styles of eyeglasses.”12

In an article by Inc.com called “Attack of the Warby Parker Clones,” Warby Parker’s

unique online business model may also be inspiring smaller competitors to arise as well.

Competitors such as Classic Specs, Lookmatic, Mezzmer, Made Eyewear, Eyefly, Rivet and

Sway have appeared up in the past two years, with “…similar aesthetic[s] and online business

model[s].”13 Smaller firms using similar strategies could be troublesome for Warby Parker, as

this could cause consumer confusion and detract from Warby Parker’s brand awareness.


SWOT Analysis

THE FOLLOWING is a situation analysis of Warby Parker. This analysis includes

internal components such as business strengths and weaknesses, and external components

such as opportunities and threats.


III. Objectives

Marketing Objectives

MARKETING OBJECTIVES for the 2014 year will be to increase sales by 20

percent. The following report will detail how this goal will be met through targeting specific

markets.

Communication Objectives

COMMUNICATION OBJECTIVES for the 2014 year will be to increase awareness

of Warby Parker’s products among target markets. Communication objectives will be

obtained through increasing reach through the strategic use of media.

IV. Consumer Target Market

Primary Target Market Profile

WARBY PARKER currently targets the “millennial” generation for its eyewear

products.14 According to a report by the Pew Research Center, millennials are “…the

American teens and twenty-somethings who are making the passage into adulthood at the

start of a new millennium” and are known to be “confident, self-expressive, liberal, upbeat

and open to change.15

According to Pew, the millennial generation is more ethnically diverse than older

generations. The above chart shows a growing black, Hispanic, Asian and bi-racial segments

of this market, compared to adults 30 years or older.


Millennials are also more likely to be technologically savvy, with 24% of this target

market stating that they believe technology use is what makes their generation unique in

open-ended responses in Pew’s surveys. According to Pew’s research, this generation is also

more likely to use social media networking sites, with 75% of respondents surveyed stating

that they have social networking profiles.

As a company, Warby Parker to date has positioned itself to target the millennial

generation for its eyewear products. The bulk of eyewear products purchased through Warby

Parker are online, as there are only a few brick-and-mortar stores available for consumers to

visit. Warby Parker also targets this specific market through its social media outreach,

specifically on Facebook, Twitter and Instagram.

It is also important to examine who is purchasing eyeglasses within the millennial age

group, as well as how this could affect the overall media plan. The following is the results

from a cross-tabulation on Simmons OneView on specific factors such as demographics,

psychographics, and behaviors toward shopping for new eyewear:

Demographical Data for Ages 18-3416

Gender Race Education Income Location Eyeglass Types

Point of Purchase

Market that wears or purchases eyeglasses

Mostly female

White Most have been to

college for 1-3 years (Highest index: 20 year-olds)

Many make in between

$40 - $100k a

year (Highest index: 18

y/o at $75k a year)

Many live in the West

or in the South

(Highest index: 18

y/o in South, 30-34 y/o in the West.)

Most do not wear

glasses, but if when they do,

they wear lenses over contacts

Most purchase

glasses at eye doctor, but

some purchase online


Index Female: 109 Male: 90

105 20 y/o: 223 18 y/o: 149

18 y/o: 117 30-34 y/o: 122

Sample: Female: 3,975 Male: 2,702

5,592 20 y/o: 77 18 y/o: 118

18 y/o: 94 30-34: 187

6,677 Eye doctor: 1,308 Online: 72

Source: Simmons OneView, Fall 2010 NHCS Adult Study, 6 months Total sample size for 18-34 year olds: 2,403

Total sample size for males: 5,365 Total sample size for females: 6,985

P s y c h o g r a p h i c D a t a f o r A g e s 1 8 - 3 4 1 7

Psychographic: 18 – 21 y/o 22 – 24 y/o 25 – 29 y/o 30 – 34 y/o

Impulse Shopper Average Above

Average/Far Above Average

Average Above Average

Brand Loyal Below Average/Average Far Below Average Far Below Average to

Average Far Below Average

Child Influenced Average Average/Above Average

Average/Above Average

Above Average/Far

Above Average

Radio Involvement Below Average/Average

Far Below Average/Below

Average

Average/Above Average Average

TV Involvement Below Average/Average

Below Average/Average Average Average

Newspaper Involvement


Average


Average

Far Below Average to Average


Average

Magazine Involvement

Above Average/Far

Above Average

Above Average/Far

Above Average

Above Average/Far Above Average

Above Average/Far

Above Average Ad Receptivity Far Below Average Far Below Average Far Above Average Average

Smart Shopper Average Below Average Above Average/Far Above Average

Above Average/Far

Above Average

Early Adopter Above


Above Average/Far

Above Average


Far Above Average


Internet Activity Above


Above Average/Far

Above Average


Above Average/Far

Above Average Source: Simmons OneView, Fall 2010 NHCS Adult Study, 6 months

Looking at the demographical and psychographic data, the primary target market for

this media plan is 18-34 year old females. Many people of this age group live in the South or

West, and do not wear eyeglasses. However, the ones that do wear eyeglasses chose lenses

over contacts. Though most purchase through their doctor’s offices, some do purchase

online, and this trend is looking to grow in the future as stores work to improve the online

buying experience. The psychographic data also indicates that people in this age group is not

brand loyal and somewhat of impulsive shoppers. Older millennials are also heavily child-

influenced shoppers. Most of this generation are heavily involved in radio and magazines and

have high Internet usage activities. This media plan will mainly focus on radio, magazines

and Internet as the main media vehicles for this age group.

Secondary Target Market

WHILE MANY may believe that the millennial generation dominates all forms of

online activity, according to the Pew Research Center, Generation X — ages 33 to 44 —are

more likely to “…bank (67%), shop (80%) and look for health information online (82%)”

and Pew even refers to this generation as “online grown ups.” 18 Pew also mentions in another

report that Gen X “…continues to lead in online shopping.”19 The following chart from

Pew’s “Generations Online in 2009” report lists Internet usage and populations of millenials,

Generation X and more:


Source: Pew Internet, “Generations Online in 2009,” January 28, 2009

Targeting Generation X as a secondary market could help increase brand awareness

and market share for Warby Parker’s products, as this generation is engaging in online

shopping more than younger generations. The following is research conducted using

Simmons OneView also showing similar patterns and specific demographics and

psychographics of this generation:

Demographical Data for Ages 35-4520

Gender Race Education Income Location Eyeglass Types

Point of Purchase

Market Mostly White Groups 35- More Age group Ages 35-39 Higher


that wears or purchases eyeglasses

female 39 and Groups 40-

44 were more likely

to have graduated

from college

likely to make in between

$40 - $100k a

year

40-44 more likely to live in

the Northeast

are more likely to

wear regular

eyeglasses over

contacts

income earners

($60k or more) are

more likely to purchase their glasses at Costco or

Online. Index Female:

109 Male: 90

105 35-39 y/o: 116 40-45 y/o: 119

40-44 y/o: 116

35-39 y/o: 128

Sample: Female: 3,975 Male: 2,702

5,592 35-39 y/o: 315 40-44: 400

40-44 y/o: 208

35-39 y/o: 197

Source: Simmons OneView, Fall 2010 NHCS Adult Study, 6 months Total sample size for 35-45 year olds: 1,948

Total sample size for males: 5,365 Total sample size for females: 6,985

P s y c h o g r a p h i c D a t a f o r A g e s 3 5 - 4 5 2 1

Psychographic: 35 – 39 y/o 40 – 45 y/o

Impulse Shopper Above Average Far Above Average

Brand Loyal Far Below Average Far Below Average

Child Influenced Far Above Average

Far Above Average

Radio Involvement Above Average Far Above Average

TV Involvement Above Average Below Average

Newspaper Involvement


Average


Average

Magazine Involvement

Far Above Average

Far Above Average

Ad Receptivity Far Above Average Below Average

Smart Shopper Average Above Average


Early Adopter Far Above Average Below Average

Internet Activity Far Above Average Average

Source: Simmons OneView, Fall 2010 NHCS Adult Study, 6 months

Looking at the demographical and psychographic data, the secondary target market

for this media plan is 35-45 year old females. Many people in the Gen X population live in

the Northeast, have most likely graduated from college, and make between $40,000 and

$100,000 a year. Higher income earners are more likely to purchase their glasses at Costco or

online; however, most income brackets are more likely to purchase through Costco and not

at Wal-Mart. Psychographic data shows that this group is highly influenced by their

children, not loyal to any particular brands, and smart shoppers. This group is more likely to

be involved with magazines, radio, and TV, as well as have high amounts of Internet activity.

For this media plan, we will focus on TV, magazines, radio and Internet for this particular

target market.

V. Consumer Target Market Strategy

THE FOLLOWING SECTION will cover media objectives, strategies and tactics

for the 2014 advertising year. This plan will start on January 1 of next year, until December

31, 2014. It will include the following goals and specifics: monthly reach and frequency,

geography, timing and scheduling decisions, media mix, as well as selected sales promotions.

This media plan’s simulation market will be adults, ages 18-49. The total universes for these

markets are 131,026,000 nationally and 30,331,000 in the six spot markets.


Monthly Reach and Frequency

WARBY PARKER Eyewear is relatively new in the eyewear industry, and many

consumers have still not heard about this brand, its products, or its message. In order to help

increase awareness about Warby Parker’s brand and product offerings, this plan will focus on

optimizing frequency over optimizing reach. According to Chapter 7 in the Media Flight Plan

handbook, by optimizing frequency, Warby Parker will be able to introduce their products

into new market.22 Utilizing the Media Flight Plan simulation software, here are the

following reach and frequency goals for the 2014 year:

Source: Media Flight Plan Simulation


The 2014 media plan will be a national and spot campaign, with reach remaining at

50 throughout the year for spot and national markets. Average frequency will remain low

nationally as well, and higher frequency campaigns will be focused in 6 urban spot markets

across the country. Share of Voice (SOV) will remain around 16.7% by Q4 nationally and

33.3% in selected spot markets. Gross Rating Points (GRP) will total to be 1,050 nationally

by the end of 2014 and 1,650 in spot markets.

Spot Market Geography

SPOT MARKETS for the 2014 strategic media plan will be the following:

These six spot markets were chosen based off current Designated Market Area

(DMA) rank and geographical locations throughout the United States and these markets

make up approximately 20.63% of US households. Each location was chosen in order to

provide widespread advertising coverage across six major cities in the US.


Timing & Strategy

TIMING for the 2014 media plan will be based off of a flighted advertising

schedule. The reason for this decision was that according to the 2012 Warby Parker Annual

Report, sales for later quarters

were much higher than earlier

in the year. The following

graphic on the left is an

example pulled from the

Warby Parker Annual Report.

The advertising schedule for

the 2014 year will officially

begin in June 2014.

The following timeline on the

next page shows when and

what type of advertising will take place throughout this season for spot markets. Selected

media for both target audiences is a mix of net and spot radio, spot TV, magazines (women),

and Internet (targeted sites, search and sponsorship). This media will be used to achieve a

high reach in spot market areas. A chart on page 22 will list specific television, magazine,

radio and Internet sites and titles that will be included in Warby Parker’s media strategy for

the upcoming year.

Source: 2012 Warby Parker Annual Report


Scheduling & Media Mix

June • Net Radio: Morning Drive, Daytime, Evening Drive, Nighttime • Women's Magazines • Internet: Targeted Sites, Sponsorship • Spot Radio: Morning Drive, Daytime, Evening Drive; Spot TV: Daytime

July

• Net Radio: Morning Drive, Daytime, Evening Drive, Nighttime • Women's Magazines • Internet: Targeted Sites, Sponsorship • Spot Radio: Morning Drive, Daytime, Evening Drive; Spot TV: Daytime

Aug. •  Net Radio: Morning Drive, Daytime, Evening Drive, Nighttime •  Internet: Targeted Sites, Sponsorship •  Spot Radio: Morning Drive, Daytime, Evening Drive, Nighttime

Sept. •  Net Radio: Morning Drive, Daytime, Evening Drive, Nighttime •  Internet: Keyword Search, Targeted Sites, Sponsorship •  Spot Radio: Morning Drive, Daytime, Evening Drive, Nighttime

Oct.

• Net Radio: Morning Drive, Daytime, Evening Drive, Nighttime • Women's Magazines • Internet: Keyword Search, Targeted Sites, Sponsorship • Spot Radio: Morning Drive, Daytime, Evening Drive, Nighttime

Nov.


Dec.



Possible Programming Choices TV Radio Women’s

Magazines Internet

Net

Alternative AOR (Excluding

Rock) AOR (Including

Rock) Classic

Classic Rock Contemporary

Christian Contemporary

Radio HOT AC

Inspirational Mexican

Modern Rock Modern Rock

Oldies Spanish

Spanish AC Urban Variety

All You Cooking Light Cosmopolitan

Elle First for Women

Good Housekeeping InStyle

Prevention Real Simple

Woman’s World

Specific Search Terms

Specific Targeted

Promo Sites Toward Women:

Cosmopolitan Manhattan Fashion

Magazine Spotsify Magazine VivMag Magazine Women's Health

Magazine Glamour

Targeted Banners & Advertising on: Online Magazine

Sites Social Media

Networks Search Engines

Spot

BET Bravo CBS

Disney Food Network

FX ESPN

Fine Living Fuse G4

HSN Nick @ Nite Nickelodeon Showtime

Speed Spike TLC Style

VH1/ VH1 Classic

Alternative AOR (Excluding

Rock) AOR (Including

Rock) Classic

Classic Rock Contemporary

Christian Contemporary

Radio HOT AC

Inspirational Mexican

Modern Rock Modern Rock

Oldies Spanish

Spanish AC Urban Variety


THE MEDIA and programming choices were chosen specifically to target both 18-

34 year olds as well as 34-44 year olds in spot market and national areas in order to meet

optimal frequency. TV advertising will utilize the past television ad created for Warby

Parker. High frequency radio advertising will market Warby Parker’s $95 price point, “Buy

One, Give One” campaign, as well as the free opportunity to try on five pairs for free, for

five days. In the summer, the radio and magazine advertising will be focused on selling

Warby Parker’s line of sunglasses, and in the fall/winter, radio and magazine ads will feature

promotions specifically for Back-to-School or Christmas promotions. Internet advertising

will be focused on keyword searches, banner ads and promotional sites on clothing websites

and social media networks.

Digital Media & Sales Promotions

THE USE OF DIGITAL MEDIA is essential to Warby Parker’s strategy for the

2014 year. According to the 2012 Warby Parker Annual Report, 50% of customer service

related issues are handled through the Internet, as opposed to 45% handled over the phone

and 5% in store.23 The Twitter account @WarbyParkerHelp has tweeted over 90,000 times

in order to assist customers with purchases, or to help lock in a purchasing decision. This

activity will continue throughout the 2014 year, as well as Facebook page activity, and

Facebook promotions. Another way to access the younger generation is by focusing some

radio advertising on free services such as Spotify or Pandora, and developing special “Warby

Parker” stations where people can tune in, and get specific Warby Parker related advertising.

Many ads over Spotify offer special promotions specifically for listeners, and this could be an

asset to pushing promotions that could be cheap and effective.


PROMOTIONS will also be an essential asset to Warby Parker for the upcoming

year, allowing the company to build continuing relationships with consumers, as well as

create new customers or brand awareness. The following chart will show what types of

promotions will take place throughout the 2014 year, and specifically how these promotions

can help build this awareness for the Warby Parker brand:

P r o m o t i o n P l a c e / A d v e r t i s i n g M o n t h D e s c r i p t i o n

“Insta-great” Win a Pair

Nationwide, advertised through

Facebook, Instagram, Twitter and other

social media networks.

January

Participants can Instagram a photo of themselves (“selfie”)

and describe why they would look great in Warby Parker glasses.

Several winners will be chosen and given

a free pair

“Get in the Shade” Summer Try On

Promotion

Specific spot markets: Atlanta,

GA; Houston, TX; Los Angeles, CA; New York, NY

June

Representatives from Warby Parker travel to these spot market

areas and allow customers try on

glasses. Participants can tag Warby

Parker in these pair to receive a special

promotional discount for their own sunglasses.

“Back to School” Buy One, Get One Half

Off

Spot Markets, advertised through

radio, magazine and spot TV markets

September

Campaign focused toward older adults

purchasing glasses for their high

school/college age children. If parent

buys child new glasses, they get their

own pair of sunglasses or lenses

for half off.


VI. Media Scope & Budget

THE FOLLOWING CHARTS will display the scope and budget of the final

strategic media plan for 2014. This will include the reach and frequency levels, as well as a

final recap of the budget for the upcoming year.

Reach & Frequency Flowcharts: Spot/National Markets

January

February

March April May June July August

September

October

November

December

Reach Goal 0 0 0 0 0 50 50 50 50 50 50 50 Reach Est 0 0 0 0 0 88.1 88.1 90.1 91.4 92.4 92.4 92.4

0 10 20 30 40 50 60 70 80 90 100

Reach

Reach (Goal & Est.) - Spot & National

January

February


September

October

November

December

Avg Freq Est 0 0 0 0 0 6.2 6.2 7.3 8.3 9 9 9 Avg Freq Goal 0 0 0 0 0 6 6 7 8 9 9 9

0 2 4 6 8 10 12 14 16 18 20

Average Frequency

Average Frequency - Spot & National


To conclude, reach was set at 50% across national and spot markets, with frequency

remaining at 3 for national markets and varying between 6 and 9 for spot markets. In some

instances throughout this campaign, it is possible for reach to be very high, even with very

high frequency. The months with the highest frequency will be October, November and

December, as the 2012 Warby Parker Annual Report has shown that sales increase by the

end of the year. On the next page is the budget recap and total for 2014.

January

February


September

October

November

December Total

GRPS Balance 0 0 0 0 0 -‐250 -‐250 -‐310 -‐360 -‐380 -‐380 -‐380 0 GRPS Est 0 0 0 0 0 550 550 660 760 830 830 830 5010 GRPS Goal 0 0 0 0 0 300 300 350 400 450 450 450 2700

0 1000 2000 3000 4000 5000 6000 7000 8000 9000

Gross Rating Points

GRPS - Spot & National


Budget Recap

THE SET BUDGET for the 2014 strategic media campaign was $30 million. By

starting later in the year with advertising, Warby Parker will be able to heavy up in Q3 and

Q4 to capture those sales. By the end of the year, there should be around $425,590 left in

contingency funds or extra advertising media spending.

January

February March April May June July Augus

t September

October

November

December Total

$(000) Balance 0 0 0 0 0 8.1 8.1 32.6 179.2 65.9 65.9 65.9 425.59 $(000) Est 0 0 0 0 0 3325.2 3325.2 3856.3 4265.3 4934.1 4934.1 4934.1 29574.4

1 $(000) Goal 0 0 0 0 0 3333.3 3333.3 3888.9 4444.4 5000 5000 5000 30000

0

10000

20000

30000

40000

50000

60000

70000

Budget (In Millions)

Budget Recap (In Millions)


VII. Endnotes & Sources

1 Warby Parker Case Study Packet 2 Warby Parker Case Study Packet 2 Warby Parker Case Study Packet 3 Warby Parker Case Study Packet 4 Warby Parker Case Study Packet 5 Warby Parker Case Study Packet 6 Warby Parker Case Study Packet 7 Warby Parker Case Study Packet 8 Euromonitor Datagraphic 9 Warby Parker Case Study Packet 10 “Luxottica Retail North America Inc in Eyewear (USA),” Euromonitor, Dec. 6, 2012 11 “Luxottica Retail North America Inc in Eyewear (USA),” Euromonitor, Dec. 6, 2012 12 Warby Parker Case Study Packet 13 “Attack of the Warby Parker Clones,” Inc.com, Jill Krasny, July 15, 2013 14 Warby Parker Case Study Packet, Mintel 2013 15 Pew Research Center Social & Demographic Trends, “Millennials: Confident. Connected. Open to Change.” Feb. 2010, http://www.pewsocialtrends.org/2010/02/24/millennials-confident-connected-open-to-change/ 16 Simmons OneView, Fall 2010 NHCS Adult Study, 6 months 17 Simmons OneView, Fall 2010 NHCS Adult Study, 6 months 18 Pew Research Center, “Gen X: Online Grown Ups,” http://www.pewresearch.org/daily-number/gen-x-online-grown-ups/ 19 Pew Internet, “Generations Online in 2009,” January 28, 2009, Sydney Jones and Susannah Fox, http://pewinternet.org/Reports/2009/Generations-Online-in-2009/Generational-Differences-in-Online-Activities.aspx?view=all 20 Simmons OneView, Fall 2010 NHCS Adult Study, 6 months 21 Simmons OneView, Fall 2010 NHCS Adult Study, 6 months 22 Media Flight Plan, Chapter 7, Dennis Martin and Robert Coons, 2011 23 2012 Warby Parker Annual Report

Warby Parker Strategic Media Plan Sample

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Transcript of Warby Parker Strategic Media Plan Sample