Tag Archives: advertising

How Brands Cash In On March Madness

The Madness of March. Many sports fans claim the only thing that gets them through the tedious month of March, when spring is so close you can taste it, is the NCAA Men’s Basketball Tournament, better known as March Madness. College basketball fans aren’t the only ones who get excited for the tournament, however. Due to the popularity of office brackets, even the most casual sports fan can get swept up in the excitement, in the hopes of bragging rights and a little extra cash. ESPN.com reports an estimated 70 million brackets were filled out in 2017, to a total of $10.4 billion overall in bets. Brands know they have an opportunity to reach a large audience, and spend the month engaging consumers via social media and advertising.

According to Kantar Media, $1.285 billion in ad revenue was generated during last year’s March Madness tournament, a 3.3% increase from 2016. Additionally, the 2017 NCAA Tournament was the most-watched in 24 years, with an average of 9,325,000 million viewers, up 10% from 2016 (8,513,000). With nearly one-third of the U.S. television audience watching at least six minutes of the tournament, it is a good bet for brands looking to reach a broad audience.

Companies pay big money to attach their names to the tournament, and Coca-Cola, Capital One, and AT&T are the three corporate “champion” sponsors this year, with an additional fourteen corporate sponsors. NCAA officials don’t disclose how much they receive for the partnerships, but according to marketing researchers, March Madness ranks with the Super Bowl, Olympics, and World Cup as one of the most valuable events in sports, due to the audience it attracts—younger males, who are traditionally a harder market to reach.

Brands like Wendy’s, Buffalo Wild Wings and Powerade are utilizing the tournament by running promotions linked to March Madness. Wendy’s is running an interactive bracket on their social channels, with fans able to earn rewards and exclusive offers each week. Buffalo Wild Wings has billed itself the “Official Hangout for NCAA March Madness” and unveiled a variety of in-restaurant, online and on-site Final Four activations designed to reward fans. Powerade, who is the Official Sports Drink of the NCAA, debuted a new campaign, “That’s Some Kind of Power,” during the first four March Madness games. The campaign has evolved throughout the month with relevant advertisements and activations around iconic sporting events.

Not everyone makes money during March Madness, however. March Madness invades many workplaces, causing major distractions. According to WalletHub, unproductivity during March Madness amounted to an estimated $6.3 billion in corporate losses in 2017. In a survey of more than 400 managers and human resources specialists conducted by Seyfarth Shaw at Work, 30% said it was a major diversion at their office, with workers spending an average of 25.5 minutes per day monitoring the games.

Whether you’re an avid fan, or just hoping to make some money in your office bracket, advertisers are happy you’re tuning in.

Why Research is Crucial for Ad Agencies in 2018

market research

Advertising agencies are facing a lot of adversity in 2018. With more and more big brands like Sprint, Netflix, and L’Oreal cutting their agencies to take their advertising in-house, ad agencies are scrambling to re-route. U.S. ad agencies are not at risk of becoming obsolete, reportedly bringing in over $48 billion in 2016 and employing over 200,000 people, but the growth in this industry is slowing. Ad agencies need to find new ways to add value to their client engagements, and keep profit margins in the green, which is why ad agencies need to implement market research into their strategy more than ever.

BETTER CLIENT OUTCOMES

Before creating an ad campaign, it is important to get background information on the client and their audience. While your client may have given you all the information they feel is pertinent to a successful campaign, research allows the agency to generate quantitative and qualitative data into marketplace dynamics, customer perceptions and behaviors, and reveal intelligence that can help to solve business problems and achieve favorable client outcomes. Additionally, it may shed light on potentially profitable opportunities for the client as well.

UNDERSTAND THE CONSUMER

You’ll want to ensure your messaging and marketing efforts are in line with your target audience’s needs and wants. The more you know about your client’s market, its products, consumers, and competitors, the better you can design a successful campaign. Understanding into how the consumer engages the products, trends and the customer journey is knowledge that is necessary for an effective campaign.

TEST CAMPAIGN

Launching an ad campaign is expensive, which is why it is so important to set yourself up for success. By conducting market research, you can test your concepts on consumers to find out which would be most effective. With online surveys, you can capture real-time feedback, and they are easier and less expensive than focus groups.

MEASURE SUCCESS

After launching an advertising campaign, it is imperative to have data to give your client an idea of the campaign’s success. Sales and other performance indicators may provide an idea of the campaign’s success, but with market research, you will be able to better understand what compelled consumers so you can build off that in future campaigns.


QuestionPro Audience provides our clients with access to more than 22 million active respondents, who are strategically recruited to participate in quantitative market research and live discussions. By implementing various recruitment methodologies, we make sure to provide the right kinds of respondents for your research. With industry knowledge and innovative tools, QuestionPro Audience always meets the rigorous demands of our clients. Contact us for your next research project.

2018 Oscars: Will Women Tune In?

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The 2018 awards season comes to an end this Sunday at the 90th Academy Awards. At the shows leading up to the Oscars, womens movements like #MeToo and #TimesUp have been hot topics, highlighting the importance of female representation and gender equality. After the recent sexual misconduct scandals, many advertisers are betting on women tuning in to see if they will be victorious during Hollywood’s biggest night.

Last year’s broadcast was the second least-watched Oscars, and delivered record low ratings of 32.9 million viewers, with the fewest-ever number of adults in the 18-to-49 demographic (11.7 million). Despite all of this, the ad revenue rose by 9% this year, with a 30-second spot averaging about $2.4 million, with the most expensive spot at $2.6 million, an increase from the $1.9 million ABC charged last year. In recent years, a 30-second Oscar ad typically sold for between $1.8 and $2.2 million.

Many brands are hoping the investment helps them reach women, who make up 62% of the average Oscar viewership. The broadcast will air 16 commercials made specifically for the ceremony, and at least 12 brands bought airtime for spots celebrating female empowerment and inclusivity. “In addition to being the most highly viewed event that celebrates storytelling and excellence in film, the Oscars provides advertisers opportunities to engage with viewers in meaningful ways during a cultural moment they care about,” President of Advertising Rita Ferro said in a statement.

According to a new study from BBC, female-led films earn higher box office returns, despite typically lower production budgets. On average, every dollar invested in a female-led film earns back $2.12; male-led films earn back $1.59. Hidden Figures, the 2016 female-led drama, earned 6.8 times its production budget, and Ladybird, nominated for five Oscars this year, earned 4.2 times.

By all accounts, it will be quite a triumph if a woman takes home the night’s biggest awards. A film with a female perspective hasn’t won Best Picture since Million Dollar Baby in 2005; four of the nine movies nominated for Best Picture this year have a female perspective. Additionally, Greta Gerwig, director of Lady Bird, is vying to become only the second woman to win Best Director in the 90-year history of the Oscars.

We provide our clients with access to more than 20 million active consumer respondents, who are pre-screened and qualified candidates for high-quality data collection. With industry knowledge, innovative tools, and purchasing power, QuestionPro Audience always meets the rigorous demands of our clients.

How Much Control Do We Really Have Over What We Buy?

While you’re looking for gifts for those special people in your life this holiday season, keep in mind that you’re constantly being manipulated by retailers who’ve studied every bit of consumer data, read every book, and consulted with psychology experts on the art of subconscious coercion.

 

How do they accomplish this? They attack your senses to sell you more stuff and, through the most tactful ways, get you to fork over more money for that stuff.

 

According to leading neuroscientists, 95 percent of all thoughts, emotions and learning occur before people are cognizant of it. Therefore, most of what goes into our purchasing decisions can be attributed to our subconscious.

 

Visual perception influences our buying decisions the most. KISSmetrics found that nearly 93 percent of buying decisions are based on visual stimuli. Six percent was based on touch and the remaining was divided up into sight and smell.

 

Consider the following study conducted in 2012 by the Journal of Consumer Research on eBay which looked at how different colors affect purchasing habits. Researchers found that using different color backgrounds while offering the same product (Nintendo Wii) elicited different responses.

 

Red backgrounds led to more aggressive bidding. Bids jumped an average of $63.17 versus $35 for those looking at blue backgrounds.

redbiz

 

“When we’re bidding in an auction, the red effect isn’t something we can protect ourselves against because we’re not conscious of it,” said study co-author Rajesh Bagchi, an associate professor of marketing at the Pamplin College of Business at Virginia Tech.

 

Warm colors (Red/Yellow/etc.) are suitable to attract impulse buyers. Rarely will you see a sale sign that is Blue at any big-box store. Cooler colors (Blue/Green/etc.) are for customers with a buying plan, IE financial planning, insurance, etc.

 

Many retailers have been leading us by the nose for years. The human Olfactory bulb, which processes various scents, is linked to the brain’s limbic system. The limbic system is responsible for processing emotions and memories, which plays directly to our purchasing behavior.

 

Studies confirm smells are used to draw the buyer in and then encourage them to buy more while they’re there. In a study commissioned by Nike, the researchers concluded most people will buy more shoes (and be willing to pay more for those shoes) if the room smelled like flowers. A Las Vegas Gaming study found that consumers spent 50 percent more time playing slot machines when the air around them was doused with a floral scent. This practice extends to real estate, where the smell of fresh-baked goods and cookies (always present at any open house) increases sales, giving a comfortable “homely feel.”

 

The least studied sense as it relates to buying by academics is touch. However, researchers say that touch or ‘feel’ can be a deal breaker when deciding on lucrative purchases. Apple takes advantage of the touch factor by making sure all of their laptops are open to a 70 degree angle. Why? This is open enough to have content semi-visible and entice potential users in. Apple employees actually use an app to measure the exact angle during set-up time.

 

The kind of chair you sit in can also make a big difference in some bigger purchases. Harvard Business Review found that when people were asked to negotiate a deal on a new car, those sitting on a ‘hard chair’ offered 28 percent less than those seated in a ‘cushioned chair.’

 

You may also notice that most retailers play music. This is because research studies have shown by playing music in stores, they can influence patrons to behave accordingly depending upon which emotion they’re looking to trigger. Scientists say music affects your heartbeat and brainwaves. This triggers the release of dopamine, which affects your mood. Music has the likelihood to bring out emotions, which highly influences our behavior regardless of how actively or passively we’re listening.

 

Ways Savvy Retailers Use Music

  • Loud music causes consumers to move through a supermarket more quickly without reducing sales.

  • Victoria’s Secret uses soothing slower music to facilitate discussion with sales reps.

  • Classical music versus Top 40 music at a wine store was shown to increase sales and leads customers to buy more expensive merchandise.

Since manipulation by retailers during this holiday season is inevitable, shopping online might be the best way to limit the clandestine attack on your senses. Online shopping has a limited sensory experience as customers can only use their senses of sight and hearing.

 

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