As an agency, we value research as it can help inform your media plan and make it smarter. Whether you are researching media consumption habits among your prospects, or reviewing qualitative data in a particular DMA, we are of the mindset that knowledge is power and it's worth investing in to make better decisions about your marketing budget. This is true for either B2B or B2C marketing. We also know that this research can come at real costs, both time and money, so a company has to weigh that into consideration as well. Will the potential results of the study be worth the cost and will we have time to review the data and apply its findings to our marketing strategies?
We just finished a custom research project for one of our B2B clients, a product we call MediaWatch™. This is a competitive media analysis in which we survey publications within a given time frame in our client's industry searching for identified competitors' ad placements. Another reality when it comes to research is that what we want to know is not measured by syndicated data, especially in B2B categories. So we just do it ourselves!
For this particular client that is in the infrastructure and construction category, they selected 17 publications and 17 different competitors and we surveyed all publications over a 7 month period. We also requested digital activity within that time frame, although that is hard to quantify since we cannot estimate impressions or spend there. But in print, after surveying we were able to estimate spend and frequency, based on our calculation of advertising value - estimated frequency multiplied by rate card rate for that frequency. At that point we have an "apples-to-apples" comparison with our client's advertising value and all identified competitors in the category. Then we reflect in pie chart-form our client's share of voice as seen in their spend, their share of pages and print impressions across the category.