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How convergence is changing the media buying and selling game
By Elton Ollerhead, managing director at Mediamark
Convergence might sound like a buzzword, but it is a real trend that is changing South Africas media and marketing landscape. Media owners and companies that sell marketing and media solutions need to look carefully at what this trend means for the way they sell inventory to the brands they work with.
Lets firstly consider what we mean when we talk about convergence in the media environment. It is about the blending and blurring of various media and channels in brand and media owner strategies as well as in the lives of their audiences. It is a big shift in how media owners package content and in how consumers consume it.
Todays consumer is no longer loyal to a single morning newspaper, nor is he or she a faithful viewer of the eight oclock news. Instead, your audience accesses entertainment and information from a range of sources during the average day, often multitasking across channels while it does so.
For example, its not unusual for people to have Twitter open on a tablet or smartphone while theyre catching the finale of Breaking Bad, to listen to the midday news on the radio at work while browsing the Web, or to Google a company after seeing an ad in the paper. This multitasking behaviour is both a boon and a bane for marketers.
On the one hand, it means the audiences attention is fragmented; on the other, it means that cross-channel campaigns can be a great way to reinforce a brand message across multiple touchpoints. Against this backdrop, media buyers and brands should be encouraged to partner with media owners who can help them address audiences across multiple media channels with a single campaign or concept.
Media owners and sales houses that want to do well in this landscape need to be able to offer brands integrated marketing solutions that span multiple channels. Such solutions provide brands and buyers with a single point for cross-channel buys, and allow for execution of campaigns across multiple channels in a uniform way.
Some of the benefits media owners and sales houses should be selling in converged buys include:
- Simplicity Brands and agencies need to deal with fewer media owners for a campaign, since one party takes responsibility for delivery, implementation, and reporting across multiple channels.
- Synergy A creative concept (competition, promotion, feature) can be designed to run across different media, leveraging the same message but packaging it in ways to suit each channel.
- Reach and reinforcement Converged campaigns give brands the ability follow a target audience across channels and mirror their behaviour. They can be on the radio in rush hour, online during work hours, TV at night, event activations on weekends and holidays.
For media owners or sales houses, the first goal of a convergence strategy should be to persuade advertisers to spend more of their budgets across the portfolio by offering incentives and educating them about the benefits. The advertiser needs to see the benefit by investing with a single media owner or media sales house this will come by way of further reach, higher impact and lower costs.
Its natural for media owners to fiercely protect the yield of individual media channels radio, for example, commands a premium over print or digital so multi-channel solutions should be priced to attribute fair value to each channel. But its important to look at yield across the portfolio if you can get more revenue by offering more advertiser value across channels, it might make sense to do so.
From a selling perspective, one major challenge media owners and sales houses face is that the technical skills and knowledge required to sell across various media are very different. In addition, in organisations where different channels where sold by different sales teams, salespeople naturally try to defend their turf.
But the skill in understanding marketing and advertising objectives to craft solutions is similar across different media, so we believe that the challenges are not insurmountable. The goal should be to leverage all of your assets as a media owner or sales house to address client briefs with a solution-driven approach. This can give clients superior ROI while allowing media owners and sales houses to generate more revenue from their portfolios.
Mediamark is a leading media sales house in South Africa ensuring brands derive maximum value from their advertising spend through tailored multi-channelled solutions. Mediamark has developed into an integrated, multichannel organisation in order to cater for the increasing demand for converged media buys. In conjunction with its creative division (Lab 42), Mediamark works closely with advertisers to conceptualise and execute innovative campaigns that help them meet their business objectives.
Mediamark Radio represents brands such as Jacaranda FM and POWER 98.7 in greater Gauteng, East Coast Radio and Gagasi FM in KZN, Heart 104.9 FM and Smile 90.4FM in the Cape Town and Fringe area, and Capricorn FM in Limpopo and surrounds.
Mediamark Digital represents Microsoft's South African online and mobile advertising offerings, Howzit MSN and Skype, as well as the official websites for Jacaranda FM and East Coast Radio.
Mediamark Events, launched in 2013, works with the radio stations within its portfolio in order to give advertisers greater exposure through on-air, online and on-the-ground activations.
In November 2013, Mediamark made its first move into television as Glow TVs official sales partner.
About Elton Ollerhead
Mediamark managing director Elton Ollerhead leads Mediamark's operations and strategy. Elton has a 16-year track record of business development, media sales and commercialisation across broadcast and online media in South Africa and the UK.
Before he joined Mediamark in April 2012, Ollerhead was media sales director for dunnhumby, the Tesco subsidiary that is responsible for tesco.com and Tesco Magazines media sales. His career has also seen him hold a range of management and business development roles at organisations such as BSkyB, TSMS, Tiscali and Ten Alps Publishing in the UK as well as Primedia Broadcasting in South Africa.
Elton keeps a tight focus on revenue delivery and growth, proposition development, and people and team development. He is passionate about developing and delivering targeted, innovative and effective multichannel advertising opportunities that grow brands and businesses for advertisers.
Tel: +2711 803 0030
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