Setting up a Winning Media Strategy
Commoditizing markets, increased transparency and competition have made it difficult to stand out of the crowd in almost any industry. Dutch telecom providers, for example, spent a staggering 44 million on promotion of mobile services in the first half of 2018. T-mobile and Tele2 topped the list in their attempt to limit churn and to turn around decreases in revenue. Competing for attention and placing the right product in front of the right audience at the right time without wasting budget requires consistent planning and effort.
We discussed strategic positioning with Niki van Wijk, Head of digital marketing and data at De Persgroep Online Services.
“For many advertisers product and selling propositions have become too similar, prices have to be competitive, the branding game has been played out. So they differentiate themselves from the competition by running enormous awareness campaigns.
We have to consider the extent to which any element of the marketing mix can still be a differentiating factor. Every company should think about the areas in which they excel in comparison to the competition. This can be pricing, media and promotion, their product proposition and how they make their product available to consumers.
Model all these elements. Model your pricing and your product proposition in comparison to your competitors and consider the effect of external factors. Marketers have enormous amounts of data at their disposal but do not always derive sufficient meaning and strategy from it. There is not a single formula for a successful media strategy. It is a game in a complex ecosystem, which you need to play continuously.”
Want to learn more about determining your strategic position and differentiating yourself from the competition? Niki will join us to moderate our upcoming roundtable event on Media Strategy, during which we will discuss how to set up a winning media strategy, the role of media in the marketing mix and how to take external factors into account. The session will give you a kickstart to getting an edge on the competition.
Watch the recap of our last Objective Breakfast session on branding here.
Objective Breakfast: Roundtable – Setting up a Winning Media Strategy
When: 4 October 2018, 8:30-11:00
Where: Kabelweg 57, 1014 BA Amsterdam