Author: Saffron Carter

How long does it take to form a habit?

Posted on June 17, 2020 by - Insights

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We have been resilient and adaptive in our COVID lives, changing our behaviours and forming new habits.  But how long does it take to form a habit? And will new habits stick?

Psychology has moved on from the old 1960’s adage that “it takes 21 days to form a habit”.  It’s too short a time period for the neuropathways to form the habit-friendly patterns in your brain for new behaviour.  It’s now understood, it takes at least 2 months or about 66 days, on average to form a habit.

Australians are now 60+ days into living life with new parameters established around COVID-19. As government moves to open up social and economic restrictions, what can we glean from ongoing research as to shifts in behaviours and habits?  And which newly formed habits will stick?

Increase in ecommerce

  • – Trend toward ecommerce has increased and expanded into new categories and acquired new users.
  • – One in 5 who ordered their last grocery purchase online did so for the first time. Will this newly formed habit continue? If so will consumers return to their favoured brands as they shop via mouse-click?  Or will their online lists start in the Specials section as reduced HH incomes from the fallout from COVID continue to bite

Considerations: FMCG brands strategies and messaging will require a shift in focus to adapt to the re-balancing of baskets, and now is the time to do so as media consumption is increased across multiple channels, the market remains quiet, inventory is available and cost efficient.

Online versus bricks-and-mortar

  • – Across numerous categories online sales are now out-performing bricks-and-mortar sales
  • – Online shopping order volume has increased 49% according to Rakuten Advertising’s affiliate network year-to-date data, with a 28% month-on-month increase from February to March and a further 29% month-on-month increase from March to April (source: Adnews/Rakuten Advertising April survey).

Considerations: As reported in Kantar’s COVID Wave 4 Barometer, after restrictions are lifted, 32% of Australian’s feel they will “continue to buy from certain online stores I started to visit during the crisis”.  This increased habit of online shopping places an even greater importance on brands to understand their customer online brand experience and when and where to communicate off and online with customers to retain / gain their virtual shopping loyalty.

Muuuuuum?  What time’s dinner coming?

  • Our dinner time habit has shifted. The food order spike has moved 43 minutes from 7.06pm to 6.23pm.  Australians are wrapping up their WFH day earlier and settling in with family / housemates / partners, possibly in front of the TV, given the co-viewing increases previously reported.
  • ThinkTV’s tracking of week 19 reports that News time slots continue to see increased viewership with 6pm bulletins up 31% and the 5pm slot up 28%, fitting in with the new dinner time nicely.
  • Re-evaluation of priorities is high in the minds of Australians as they contemplate a post-COVID life: “living a more meaningful life”. Of those surveyed by NewsCorp 55% said they most wanted ‘to see a change in priorities and values, including a greater focus on local, a return to family values, valuing the little things, a greater focus on family life, and getting ‘off the treadmill’.

Considerations: As we move forward in re-establishing social and economic norms what products and services will continue to resonate with Australian’s seeking a “more meaningful life”? In looking to reactivate marketing budgets, revisions to channel strategies and messaging need to be undertaken now to meet changing consumer focus both off and online.

We don’t like to wait

  • – With our salons, beauticians and gyms closed, YouTube has become the Wiki of DIY. Since mid-March, YouTube data has seen a 600% increase in views of “with me” and a 700% increase in “at home”.
  • – Videos with titles that contain the words “haircut,” “home,” or “how to” have seen over 56 million views, and “self-care” and home workout videos have increased 515%.
  • – On Pinterest there was also a 441% increase in searches for “temporary hair dye” globally, between March 9 and March 22 (Source: YPulse, USA Today, Glossy)
  • – Google Trends reports the Australian searches for “fitness” has risen by 450% over the last 30 days.

Considerations:  Half of all Australian shoppers are concerned about having enough money for their weekly shop and personal income is now a concern for 30 % of shoppers.  (Source Shopper Media Consumer Sentiment Study 11,390 Australians nationally April 24-27 April)

It is possible that consumers will hold onto this new habits of self-maintenance tutorials and at home fitness workouts post-COVID to save on what might now be seen as non-essential spending

What about our media habits?

A clear example of revised and new media habit has emerged in our radio/audio listenership.

Our change in routine and WFH has driven an increase in listenership of radio, both broadcast and streaming and podcasts, with 65% of Australians listening to as much or more radio

  • – Time spent listening is up 4 hrs per week, with people tuning in on average 1hr and 46 mins longer pw in lockdown versus the weeks prior.
  • – Australians are getting up a little later and switching off a little earlier – resulting in increased listenership across morning and afternoon sessions (source: NOVA Home Truths”, online quant survey April 2020 sample 1,000 Australians 18+).
  • – And we are loving podcasts as evidenced in the top 100 podcasts downloaded in April reaching a new average weekly high of 5.5 million, according to Australian Podcast Ranker, which is up 14% on the previous result.
  • – The All-Australian Top 100 list reached 9 million average weekly downloads, up 10%. The April ranker included shows from the American podcast network Wondery, NBC News and independent Australian publisher Wavelength Creative for the first time.
  • – Our habit of enjoying our relationship with our favourite radio personalities continues with Australian radio show catch-up podcasts accounting for 11 of the ranker’s top 20 most downloaded and listened to podcasts in the All-Australian list (source AdNews Australian Podcast Ranker for April 2020 – Downloads hit new high)

Considerations: Podcasts deliver a lean-in engaged consumer experience with high listening retention.  An average of 80% of podcasts listened to are listened the whole way through.  Brand messaging is delivered in an uncluttered environment which explains why Podcasts also drive action with 61% of podcasters taking action after hearing a podcast commercial message and 76% explored looking for more information online either via branded website or search engine (source: Podcast Intelligence Report : NOVA/Acast/ Ipsos Sample 1,300)

Advertisers should re-assess comms strategies now

With social distancing looking set to remain a norm for the foreseeable future, the current shifts seen in media habits are likely to stick across some channels.  These changes in media consumption should prompt advertisers to re-assess communication strategies now.

Considerations:

  • – Solo channels previously relied upon may now need to be boosted with partner channels to maximise reach, particularly important if a hiatus in advertising has occurred over the COVID period and brands need to work harder to gain back SOV loss
  • – Channel combinations that will drive incremental reach should be explored Eg Linear TV and BVOD, and cross platform opportunities that drive synergy and response Eg social media and OOH, TV, Search and Social. Kantar Australia Cross Media Effectiveness Studies research highlights media synergy contributes more than 50 per cent of overall brand impact and campaigns get 57% better results when integrated and customised across platforms.

It’s been a tough time for many, and we know challenges lie ahead.  Paykel Media will continue to monitor our marketplace and our consumers to keep you informed. Contact us for more information.

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Source: NewsCorp Australia’s May The COVID Files

How Brands are Pivoting

Posted on June 16, 2020 by - Insights

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In our last edition of Paykel Insights we noted how consumers are letting brands know what they expect of them in the current global pandemic.  And brands are responding by pivoting their business structures and communications to service consumers appropriately within the constraints of COVID-19.

Some examples:

  • – Tesco: Some little helps for safe shopping https://www.youtube.com/watch?v=v_DaKh1_Y8I
  • – Guinness St Patrick’s Day “Don’t worry we’ll march again” https://www.youtube.com/watch?v=GWVW5p62sO8
  • – LVMH has replaced perfume production with hand sanitizers
  • – Virgin Group and Tesla are producing ventilators
  • – Both Calm (sleep and meditation app) and Glo (online provider for yoga, pilates and meditation) have launched a list of free resources to encourage self-care at home

Considerations: Having a meaningful connection with consumers is not just about maintaining ad spend, it’s also recognizing the key attributes being sought from brands:  emotional intelligence, authentic empathy and practicality.

Co-Viewing TV – delivering greater value

Highlighted in the most recent ThinkTV’s Fact Sheet is the clear illustration of how TV has become a focus for family co- viewing during COVID-19 isolation.

Programs like Lego Masters (70% of its viewing during lockdown has been in the company of others), MasterChef (65%), Gogglebox (63%) and movies including The Castle (62%) and Guardians of the Galaxy (60%) have given brands the chance to increase share of voice without actually spending an extra cent by speaking to multiple generations at once.

Analysis of advertising spend patterns during the 2008 recession found brands that maintained or increased advertising investment, relative to competitors, were the ones to gain market share during and following the downturn.  Kantar’s recent simulation modelling also illustrates that “keeping the lights on significantly aids in the recovery phase as it supports brand saliency and reinforces brand strengths”

Considerations: In a time of increased co-viewing within the family home, there is opportunity to drive your TV investment further as networks are at the negotiating table to partner with brands.

Online media consumption continues to increase in lockdown

There has been a strong increase in user activity on the Facebook platform and Messenger. The number of daily active users rose 4.6% from the previous quarter (to 1.7bn) while monthly active users rose 4.2% (to 2.6bn). These growth rates are the highest since 2016.

Across all of its platforms, Facebook also announced that over 800m daily active users are engaging with livestreams each day, seeing advertising impressions rising 39% in Q1 2020 (WARC Data April 2020)

Brands continue to cut their advertising investment in the face of sales declines across the year ahead.  Ascertaining how long to ‘go dark’ with advertising remains a continuing key decision for marketers. And as e-commerce is now vital for meeting consumer demand, online brand placement is now more critical than ever before.  Research from Criteo suggests that 52% of shoppers will purchase more online as a consequence of adjusting purchasing during the COVID-19 pandemic.

According to Kantar’s latest COVID-19 Barometer online consumption has grown significantly in lockdown amongst younger audiences, with online video seeing the greatest increase:  72% of GenZ and 69% of Millennials saying they use it more (vs 52% overall)

  • – YouTube has now seen the greatest increase across all online platforms, with 71% of GenZ and 65% of Millennials using the channel more
  • – TikTok is also gaining momentum, with usage up by a third (33%) among GenZ and 27% among Millennials
  • – Over two thirds (68%) of the 18-34 age group are spending more time on social channels. Instagram is the channel that has seen the greatest gains among young adults 63% of GenZ and 49% of Millennials say they are using it more, possibly tapping into video and live streaming activities

GlobalWebIndex data suggests 15% of recently surveyed internet users expect to continue spending more time using social media post-pandemic. TheNextWeb has noted that ad engagement on social media has increased at the same time as the cost of digital advertising has decreased.

Considerations: If your brand’s social presence has been limited so far, and you are looking to particularly connect with younger audiences, now is the time to build and/or extend your social brand content to drive more meaningful connection.

Print Media suffering closures

While the media agency-funded ad spend market dropped 10.6% in March, newspaper bookings soared by 30.2% in response to COVID-19, according to the latest Standard Media Index (SMI) figures. Newspaper bookings were the strongest of any medium for the month, but the extent of the current crisis impact on ad spend and budgets is yet to be realized.

In March Nine suspended printing of non-weekly magazines and some lift outs ceased.  Boss, Sophisticated Traveller, Luxury, Good Food Magazine and Executive Style have all been suspended, although their content will appear elsewhere within Nine’s titles, and the Traveller lift out, Domain magazine and The Shortlist/EG guides have all been suspended.

News Corp Australia suspended printing of 60 community titles in April citing rapid decline in advertising revenues due to COVID-19 related restrictions. Bauer Media also announced its decision in the first week of May to suspend printing of certain titles (yet to be confirmed), despite its recent acquisition of Seven West Pacific Magazines.

News publishers are focusing on their digital products and re-jigging them to allow more accessibility for newsrooms to provide up-to-the-minute COVID-19 information.  According to Nielsen’s Digital Content Ratings March report, the top ten news sites saw an average increase of 57% during March 2020, when compared to February 2020.

Paykel Media’s research team are available for further information.  Contact us today.

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Consumer expectations of brands and advertising during COVID-19

Posted on June 16, 2020 by - Insights

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“The Resilience of the Australian spirit shines through.. as we believe we will become stronger, which is a key difference to the rest of the globe” *Consumer confidence has strengthened for the third week running. The gain was broadly based with the exception of ‘current finances’.

36% of Australian expect their family to be ‘better off financially this time next year’ (Up 4pts)

As we move into mid-April, the ongoing COVID-19 crisis is now generating clarity around consumer expectations of brands and advertising is becoming evident. Kantar’s COVID-19 Barometer measure what consumers think brands should be doing.

  • 31% believe brands should be practical and realistic and help consumers in their everyday life.
  • 20% believe brands should be an example to guide change
  • 16% believe brands should help in reducing anxiety and understand consumer concerns.

Strong brands will lead the way and show their purpose in action. They must be mindful of striking the right tone; what you say now must be relevant to the customer and to the brand DNA and backed up concrete action.(Source: Kantar COVID-19 Barometer)

Shopping trends

Footfall instore is now returning to pre-pandemic announcement level, as panic buying has subsided.

What has developed over the past few weeks is consumer supermarket promiscuity as scarcity of products pushed shoppers to be more flexible in their brand choices.

As we move past the heights of the panic of the COVID crisis, the supermarket brands will next have to contend with regaining shopper brand loyalty.

This may be a war won online given the increased need to shop online, with Google queries* for supermarket online delivery increasing by up to 1,850%.

Google Search

Over the past week queries around face masks, hand sanitiser and toilet paper have declined, hand washing has remained steady.

What’s happening in media channels now?

If your brand is looking to return to market and gauge consumer response there are deals and specific opportunities to stretch budgets as media partners come to the table with discounts and insights.

TV

  • Primetime audiences (7:30-9:30PM) are up 13+% compared to the weeks prior lockdown, with the YOY increase at 4.9%.
  • News slots audience figures have stabilised from week 14 – week 15 across most key demographics. Supported by nine’s consumer pulse tracking which illustrates that the intensity of concern has eased slightly.
  • The Networks are offering increased slip discounts e.g. Prime 20%, marker card discounts off specific programming alignments e.g. 9 Network in Lego Masters – 85%

Radio

  • Significant increases in listenership across both off and online radio, and downloading podcasts.
  • Without the distinct breakers between home, work and ‘Me’ time people are creating their own ‘audio stacks’. Switching between radio, music streaming and podcasts to meet their needs.
  • Recent megaphone survey exposed shifting trends in the time of day that Australians are consumer podcasts. Up until the pandemic was declared, Podcast listening trends peaked in line with morning and evening commutes but with working from home the new norm, consumption remains relatively constant across the day with a sharp increase in listening between 11AM – 1PM. (Megaphone. March 2020, compared with February average weekly downloads.
  • Networks are offering market discounts between 45-60%.

Online

  • Week 15 (05/04/2020) shows continued increased consumption of BVOD with viewing up 36% since pre-lock down.
  • From its April launch, the no 1 BVOD program is Masterchefs’ new series
  • 9 Now leads with a unique audience of 4.7 Million, the highest ever in DCR history, and continues to grow, up 22% month on month in UA. (Source: OzTam Live +VOD, 5 April – 11 April 2020)
  • BVOD CPMs are reduced in market currently 20-25%
  • Specific program packages are available e.g. The Voice offering integration opportunities for investment commitment starting at $50,000.

DOOH

  • DOOH drives brands awareness, primes the consumer for purchase and reinforces brand preference.
  • Right now, footfall in local centres is high and dwell times are longer.
  • Local centre retail panels are on the path to purchase.
  • Audience data, including consumer spend potential and Nielsen homescan spend data from appropriate categories can be layered to up weight centres where key audience segments over indexes, generating a heightened targeted campaign.
  • Adapting brand messaging to the COVID-19 market is quick and simple on digital panels.
  • Market discounts are currently available at 50% off the card rate.

Paykel Media’s research team are available for further information.  Contact us today.

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*Source: Kantar COVID-19 Barometer; What Google data reveals about what people need April 2020

 

The impact of COVID-19

Posted on June 5, 2020 by - Insights

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What we know from 2003-2004

The impact of the COVID-19 outbreak is showing early signs of some similarities in 2003, where;

  • Consumers cut spend on luxuries, outside entertainment and leisure activities.
  • Lowers “on-the-go” impulse buying
  • Full service restaurants only able to offer take-away.
  • Supermarkets and convenience stores showed a significant increase in sales.
  • Culinary and instant food categories showed a noticeable sales increase due to consumer stockpiling.
  • Consumers increased their purchase of household and personal cleaning products.
  • Consumer spending moved, to a large degree, online (we predict more so in 2020 as increased quarantine measure have been put in place compared to     SARS).
  • Retail purchases were mainly from (neighbourhood) supermarkets.
  • A buyers’ market for media – lower media costs.
  • Less competitive messaging and marketplace “noise”.
  • Brands who pulled out of media entirely had to spend more in the long run to gain consumer share of mind.

What’s happening today?

  • Accelerated growth in food delivery apps and fresh food delivery services.
  • Increase in at home entertainment including, news, videos, streaming, gaming and family time.
  • Brands offering free content online and through apps to help consumers through isolation.
  • Sharp drop in travel and tourism.
  • Increased self-education through online education services usage as schools are shut and, people seek to fill their time.
  • Less use of Public Transport.

News viewing has increased across all formats.

Online news seen significant increases.

Time spent on news digital sites and apps has increased 29% in March, compared to the same period in February.

Nielsen have profiled a considerable shift in time spent on news sites amongst 18-29 year olds: nearly doubling over the course of the previous 4 weeks – up to 93%. Older Australians up 28%.

Consumer device usage has shifted with desktop usage outpacing smartphone usage for the first time in a long time as the working populous shifts to WFH.

Traffic to News Corp Australia’s sites has almost doubled over the L7D and sales of the newspaper have increased, with subscriptions up 21% compared to the same week in the previous year.

TV:

  • Locally, after seeing trends in FTA TV viewing decline, in recent weeks FTA TV overall viewing is up 10%+, with a lift of 15%+ seen during the day.
  • ABC News Channel has seen some of its largest audience share in its history.
  • The top 4 programs of the L7D were all news bulletins.
  • Foxtel has been forced to open up increased content to subscribers to try and stop the cancellation of subscriptions after the suspension of sporting seasons which particularly threatens streaming service Kayo.
  • Foxtel faces competition from Netflix and Stan with subscriber’s base declines of approx. 5% from September 2019 through to end the year.
  • Foxtel subscribers will have access to all drama, entertainment, lifestyle, documentaries, kids and on-demand content.

Consumers are turning to entertainment content as an escape

Entertainment options are shifting. The reliance on SVOD services has accelerated.

  • Film studios and streaming platforms have been experimenting with the timing of new cinema releases on big screen versus fast tracking to small screen for some time, with the traditional 3 month cinema release window becoming shorter and shorter.
  • Film studios are weighing up the options of delaying releases or releasing new titles to streaming platforms with a higher price tag i.e. – Premium Video On Demand (PVOD). Studios generally pocket approximately 80% of PVOD income, with the remaining going to the streaming platforms.
  • Will audiences continue to pay for a home-style theatrical cinema experience in a post COVID-19 world?

Around the world people have been turning to radio for updates and entertainment

  • Globally 28% are listening to more radio than that prior to COVID-19 outbreak and 42% say that radio has helped them cope with the impact of the pandemic on their lives. (Nielsen US custom study march, 2020)
  • Locally radio audiences are growing across the board, with some networks reporting that 10%+ of their audience is listening to more radio than they were pre COVID-19.
  • Over the past week in Australia there had been a 20% list in radio app users on mobiles, 22% list on TSL onto radio apps on mobile, 26% in podcast downloads, and 30% lift in news podcasts downloads.
  • Streaming radio is seeing record numbers. NOVA entertainment have reported listeners are actively seeking them out, with a 250% increase in Google searches.
  • This mirrors global trends – in the UK the BBC & Global radio have seen online radio listening increase by 16%.

Paykel Media’s research team are available for further information.  Contact us today.

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Instagram Best Practice in 2020

Posted on June 4, 2020 by - Social Media

Instagram

It is safe to say we are living in uncertain times. As the world adapts to these new norms, more and more businesses are using social media as a new way to stay connected to their consumers. Instagram is one of the most popular platforms for users to share photos and video content.

With more than one billion monthly active users, Instagram is the third most used social media network globally. According to Hootsuite; “Last year, businesses spent roughly $20 billion to advertise on Instagram. That’s $5.1 billion more than YouTube earned in 2019. This year, competition for Instagram users’ attention and loyalty will only grow more intense. Instagram Stories alone is expected to earn $1.7 billion in sales in 2020—with 150% revenue growth year over year”.

It is especially important for brands and advertisers to keep up with the latest trends to “stay relevant” and fully utilise everything the platform has to offer in the ever-changing landscape that is Instagram.

So, where do brands begin?  Bringing it back to basics

It can be overwhelming for brands to consider where to start when it comes to advertising on Instagram – especially during a global pandemic! There are multiple touchpoints and each business objective will change from one to the other. Understanding best practises for the specific platform is a great start and foundation for beginners starting up their own business profile.

What are best practices?

  1. Establishing a business profile – Establishing a business profile on Instagram is a crucial first step. You’ll be able to build your brand image, following, and sales funnel in ways a personal profile won’t allow. Make sure to include convenient call-to-action buttons which visitors and followers can tap to contact or conduct ecommerce with you.
  2. Give your Instagram bio a bit of TLC – If you want your Instagram profile to appeal to users, you need be appealing. With 150 characters or less and a photo or logo, you’ll need to capture the essence of your brand: who you are, what you offer, and why you’re different.
  3. Make it easy to do business with you – If you are an e-commerce business, shop-able content within Instagram is a must. If you’re in the health and beauty, food and beverage, or ticketing business, you can now add an action button to your business profileso users can book an appointment, reserve a table, or buy tickets without leaving the platform.
  4. Try to avoid creative exhaustion -When it comes to content on Instagram, the creative possibilities are limitless. By experimenting with post types, media options, and editing tools, you can easily mix up your content routine and refresh your image.
  5. Instagram stories are the new newsfeed (with the right creative!) – Instagram Stories, when put to good use, are a powerful engagement tool. With Stories, you can drive traffic to a new Instagram post or product page, use the “Ask me anything” feature to invite questions and share your responses and even conduct a poll to create buzz around a new product. You can also include Story Highlights on your profile page which is a great way to invite visitors to get to know your brand.
  6. Expand your reach with hashtags and geotags – Instagram users search for content using hashtags. They can also follow hashtags. By including relevant hashtags (even daily ones) in your bio and your post captions, you’re exposing a lot of potential new followers to your brand and products.

In these currently difficult times, social media engagement is significantly higher. Having a social media business profile offers the opportunity to grow a brand and engage with established and new consumers.

If your business is seeking to understand how to build and/or extend its social platform, Paykel is here to help you. Talk to one of our Social Media experts today.

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https://involvedmedia.com.au/services/paid-social-media-advertising/

Source: https://blog.hootsuite.com/instagram-best-practices/

Understanding how COVID-19 affected media consumption in Australia

Posted on June 4, 2020 by - Insights

Empty city street

As human beings, anecdotes help us better comprehend novel problems. We have grown to understand that our gut is more often right than wrong.  In understanding how COVID-19 has affected media consumption and how brands are responding we can draw on our own experiences.

What has changed in my own consumption habits?

What do I now expect from advertisers during this unprecedented time?

Video

A life in isolation and an incredible wealth of video content available through catch-up and subscription based services means we now have more time than ever to consume long-form video content.

Over 35’s have increased live TV consumption, especially between 5-6 pm, whilst usage amongst the younger demographic has remained steady, preferring online streaming-based services. During this period Netflix and Stan recorded the highest search volumes in the last 5 years and OzTAM VPM showed a 10-15% increase in BVOD usage, highlighting dramatic change in the search for entertainment.

These are statistics we can all relate to as, with less distraction from the real world, we now have the opportunity to tick off our to-watch list of shows and movies.

Programmatic

Unlike traditional media channels, programmatic inventory is subject to traffic. The more people viewing online content, the more ad space becomes available. As news feeds are constantly refreshed and we search for new baking recipes, there is an abundance of availability for programmatic advertising.

However, with consumer confidence plunging to the lowest level in history (Roy Morgan, March 2020), there is an adverse trend where advertisers are reluctant to send messages to consumers that may compromise the image of their brand.

Herein lies opportunity to capitalise on these record-low inventory prices and inflated traffic volumes. We can, and are, naming-and-shaming advertisers who are acting in poor taste.  However we are also welcoming advice from advertisers on how to carefully navigate these difficult times with their brands alongside. Many advertisers have adapted their messaging to speak delicately to their customer base rather than wave a promotional banner in their faces.

Print

The sudden collapse of Bauer NZ, as well as News Corps suspension of printing of 60 community titles heralds an alarming threat to print.  It is entirely likely that COVID-19 may be the catalyst for more print empires to fall in the coming weeks or months and, as we become accustomed to life without newspapers and magazines, even the most devout print-consumers may finally be converted to digital channels. The advent of technologies, such as more affordable iPads will help drive the nail further into the coffin.

We can expect sweeping changes in the print industry as the search for consumers online intensifies, and the medium as a whole catches up with the rest of the online world.

Audio

While radio networks and Spotify both report increases in listenership as consumers seek companionship, Podcasts are also surging in popularity as they continue to find their way into the mainstream.

Our routine comforts of driving to work or attending a local gig have been stripped away, adding to the compounding stresses of the pandemic.  We are reaching out to try the new things, and the variety of audio at home experiences offer many of us a new delight in entertainment and companionship.  This presents advertisers with new opportunities to engage with their customer base as they journey through experimentation with different entertainment and information channels.

Outcomes for advertisers and agencies

The COVID-19 pandemic presents us with a sad truth; that there will be winners and losers across the advertising industry.  Whilst all channels have played an important role in consumer communication up to now, brands and agencies are faced with the need to be even more agile in adapting to change as we the consumers re-define our daily routines.

To understand more clearly how to shift advertising and communication focus, contact Paykel.

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COVID-19 and the impact on Property Marketing

Posted on May 29, 2020 by - General News

real estate

Living arrangements have changed

According to the St George Bank Property Monitor released Tues 21 April, around 16% of Australians have changed their living arrangements due to COVID-19. Australians are moving home to their parents, taking on extra housemates, delaying plans to move.

As highlighted by recent McCrindle Research, this change in living arrangements is likely to push the number of people per household (currently 2.6) higher and potentially impact what people value in a home, with the pandemic crisis shifting a focus to homes with flexible spaces, larger dwelling sizes and an increased reliance on space sharing due to many now WFH.

As Australians continue to adapt to living through the COVID crisis, those with a keen eye on the property markets will have noted that auction clearance rates have dropped dramatically as houses are either withdrawn from sale, or sellers move to a private sales option. In fact withdrawn rates are at unprecedented levels, driven purely by the COVID-19 crisis.

However, there are still people in the market for properties, as currently interest rates are at historical levels and given the state of the economy, will remain at these low levels for the foreseeable future.

How can sellers reach buyers?

How to reach potential buyers and speak to them during and post COVID-19 will require a re-think. Remember that buyers now have a lot more time on their hands so they are able to spend more time researching and comparing properties, as well as the amenities near their potential new home. This means Agents and developers have to be more proactive and innovative to generate interest in a property and then close the sale.

Given the restrictions on movement, there are three key things that agents can offer instead of the usual open for inspection:

– Virtual Tours & videos

– Live viewings

– Private one-on-one inspection by appointment.

Using Digital Apps for live viewings

Live viewings allow a more interactive experience for potential buyers with Agents using:  Zoom, FaceTime, WhatsApp Video Call or Facebook Live, while Facebook Live offers the added bonus of being recorded. This is important as social media browsing has increased around 16% on Facebook & 12% on Instagram over recent weeks.

Digital media is a powerful way to create visual stimulus for customers who cannot visit a Property. The astute will maximise real-life video or high quality interactive CGI generated images to create real life environments. What were once traditional methods of still images, or brochure are now 2nd or 3rd tier.  The end message is to maximise online presence against competitors. It will be the ultimate selling tool for Property that cannot give the “real experience” in the future to stimulate interest and generate response.

So the key for both developers and agents is to ensure that you have an integrated digital strategy that allows your potential buyers to discover the property and/or development, and then to experience it from their own home, before they reach out to you directly.

At Paykel we have been helping our clients promote their real estate for many years.  Contact us for more information.

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Creative Advertising In The Times of COVID-19

Posted on May 29, 2020 by - Insights

Creative during COVID19

There is plenty of discussion and data to recommend to advertisers as to why it is more important than ever to continue to advertise during times such as these rather than to ‘hibernate’ and cut the marketing budget.

The brands that do choose to continue to be present and reactive with their television advertising now also have to navigate the sensitive issue of what they relay in their brand message in the current climate.

Adapting Brand Message to Stay Relevant

One example of a smart brand adapting quickly by using clever and creative ideas to embrace change and stay relevant is Coles with their “What’s For Dinner?” sponsorship in the 6pm Seven Nightly News.

Taking over a whole newsbreak in the format of a 2 ½ minute cooking infomercial, and featuring long established, successful chefs cooking an easy family dinner from their very own kitchens, using basic ingredients and filmed on their iphones, the segment capitalises on recent consumer insights feedback that they had many of the staple pantry items on hand (eg: pasta, rice, tinned vegetables, sugar etc.), but lacked the broad knowledge as to how to make healthy home meals from scratch.

By adjusting their messaging to embrace consumer need Coles have also increased their SOV by being in a very relevant timeslot, taking advantage of the 20-30% increase in viewership of news services in a soft market, and reinforcing the stay at home and stay healthy message promoted by both the state and federal governments.

Coles – What’s For Dinner (Curtis Stone)

A couple of other examples of brands which have illustrated the ability to tweak their creative to encompass the current climate are KIA and Colgate.

KIA – Together We Can Make A Change

With a cost efficient change through the execution of the overlay of new audio on an existing commercial from a recent campaign they have conveyed what can be seen as a shared experience with the consumer, allowing KIA to reinforce the sentiment that we are all in this together while maintaining brand awareness and building consumer loyalty in a market category significantly affected by COVID-19.

Colgate – #Stay Strong

The ‘Colgate Smile’ logo used throughout the commercial is reinforcing the brand while the feel good images illustrates the value of their product using captured moments of families, friends and pets smiling doing a number of activities or socialising while at home in lockdown and sharing the message:  “Even though we have to stay apart; our smiles keep us together”, with a final tag line “Keep Smiling.  It is more important than ever”

Simple but Effective!

How have TV Networks adapted?

Networks have also had to demonstrate nimble change as the production of many shows are on hold.   The internet entertainment format has become the way we are now being entertained, delivered to us via the shared screen experience of people living their lives from their lounge rooms, kitchens, gardens, wherever they are, at home in lockdown…cooking, dancing, singing and smiling throughout it all.

Many of the American late night talk shows have mirrored this format with the talent producing and presenting from their own home studios.

Even the stalwart favourite Have You Been Paying Attention will be returning to our screens soon in the new COVID0-19 self-isolation style of television.

James Corden – Homefest Special

We can only watch this “new normal” space!  Contact us for more information.

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The need for Transparency in the Programmatic Ecosystem

Posted on May 28, 2020 by - Digital Media

programmatic transparency blog photo paykel

As an advertiser, how do I know where my money is being spent across the programmatic supply chain?

A lack of transparency in the industry has fuelled the need for a deeper look into the associated cost breakdowns of using Programmatic.

The ISBA Programmatic Supply Chain Transparency Report released in May 2020 provides us with clarity on cost attribution and next steps for the Industry moving forward.

What is the ISBA Programmatic Supply Chain Transparency Report?

The study analysed each aspect of the Programmatic supply chain, the costs at each stage and mapped out the different chains from start to end across 15 top advertisers in the UK market. Key insights are transferable and relevant to other geo markets.

It took over a year to obtain the data for this study due to challenges relating to constraints on data sharing, inconsistent data formatting and having to gather all this data from a plethora of supply chains. The 15 advertisers in the study had approx. 300 supply chains to reach 12 publishers. This in itself demonstrates the degree of complexity in the Programmatic ecosystem.

Advertiser Spend Finding

The study reveals that 51% of media spend actually ends up in the Publisher’s pocket, with 49% being attributed to agency & platform fees.

The issue here is that within this 49%, 15% of spend couldn’t be attributed – labelled as the ‘Unknown Delta’.

The need for Industry collaboration & standardisation

The ‘Unknown Delta’ highlights the problem with the lack of transparency within Programmatic. This stresses the importance for all industry participants to collaborate openly and to build a network where there is consistency around data, contributing to standardisation.

Jonas Jaanimagi, Technology lead at IAB has responded to the study and highlights that most of the required standards actually exist. Jaanimagi also talks about the adoption of these standards – “adoption requires more than simply deep product understanding and technical ability, as there needs to also be an accompanying commercial awareness of why they are important.” IAB have developed critical standards such as OpenRTB 3.0, SupplyChain Object, sellers.json and OpenData which aim to deliver integration, visibility & standardisation.

Direct Sales v’s Programmatic

Maximising Publisher revenue was one of the recommendations of the study which we at Paykel challenge, as that is not the purpose of Programmatic. Jaanimagi further validates our view as he states “to purely classify monies received by publisher as ‘working media’ as a standard convention is incorrect and remains a huge misunderstanding of a key difference between direct sales upon signed contracts and real-time bidding on open market inventory”.

Through Direct Sales campaigns, you are reaching people on a single website with basic targeting capabilities. Whereas with Programmatic, there is a diverse range of targeting options available to reach and follow your end consumer across numerous sites.

Programmatic delivers value!

Programmatic is driven by technology & data which is unlocked through selective partnerships with ad-verification vendors and DSP’s. Technology Partnerships across the supply chain provide value such as:

– Buyer Decisioning (power to buy impressions based on advanced audience targeting)

– The ability to overlay 1st, 2nd and 3rd party data sets to build attractive audience segments

– Controlling where your ad runs and blocking where necessary

– Increasing the probability of ads being Viewable

Recommendations for Advertisers

If you’re an advertiser considering Programmatic, it is important to carefully select a Media Agency who offers you transparency across demand side fees. This will ensure you have full visibility into where each dollar of your budget ends up.  Partner up with a team who is able to:

– Openly share details on their technology stack and partners (e.g. associated costs & value)

– Provide you with seamless reporting to allow for ongoing campaign monitoring

As a result of this study, Paykel hope that as an Industry we develop our knowledge of the standards already set in place and adopt these at scale to drive greater transparency within the market. In the meantime, we are happy to discuss supply chain transparency with all current and new clients.  Contact us if you’d like more information!

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Sources:

https://www.isba.org.uk/media/2424/executive-summary-programmatic-supply-chain-transparency-study.pdf

https://www.exchangewire.com/blog/2020/05/14/upgrading-transparency-standards-from-optional-carrots-to-mandatory-sticks-jonas-jaanimagi/

Setting up your business on Social Media isn’t as complicated as you may think

Posted on April 23, 2020 by - Social Media

Social for Business

Why isn’t your business using Social Media?

You’re on social media, your friends are on social media, even your parents are on social media, so why isn’t your business? With almost 8 in 10 Australians using various social media platforms, it has never been easier to find and target your audience. Advertising on social media can help brands stay fresh, relevant, and screen across multiple devices and platforms.

Businesses are using Facebook to connect with their customers

Facebook has over 2.5 billion monthly active users and is one of the largest social media platforms in the world. On any given day there are around 1.6 million active users. These people are on Facebook looking for content, engaging with pages, and sharing with their friends. No longer is Facebook only for connecting with family and friends or sharing status updates. Businesses are using this platform as a tool to connect with their customers and bringing the content directly to them. Working with the Facebook algorithm provides advertisers a quick and cost efficient way to reach an engaged audience.

  • Facebook’s advertising tools

Facebook has one of the most effective advertising tools on the market in Business Manager and Ads Manager.  Both are easy to understand and use across both paid and organic social media posts. Business Manager is a Facebook tool that helps organise and manage your business. Ads Manager is your starting point for running paid ads on Facebook, Instagram, Messenger or Audience Network. It’s an all-in-one tool for creating ads, managing when and where they’ll run and tracking how well your campaigns are performing. Everything you need to advertise is in the one place!

  • Facebook’s data

There is no way to shy around the topic, but Facebook owns a lot of data. While this may be a scary thought for some, it benefits advertisers by allowing for precise and granular targeting. You want to only target females aged 20-30 with an interest in wine and makeup? You got it! All you need to do is select the gender, age, and add in interests. You need to hit those tradies from Melbourne with the newest steel cap boot? Easily done with occupation and location targeting! No matter how wide or how niche your audience is Facebook can find them for you. Ads Manager will also give a guide of how many people your campaign is likely to reach and if your audience is the right size.

Getting into the more nitty gritty technical stuff, Ads Manager has different types of advertising from which to choose. While Brand Awareness is usually the go-to to reach as many people as possible, you may want to drive traffic to your website or drive direct response and ask users to fill out a form.

Facebook offers different campaign goals for various forms of advertising. A Traffic campaign will deliver an ad to users who are more likely to click on it, whereas a Lead Gen campaign will encourage users to fill out a form. E-Commerce is also easy to setup and implement into a campaign.

You also have complete control over how you want to spend your advertising budget as you can decide how you would like to pay e.g. CPM, CPC, CPA, bid auction, lowest cost, accelerated budget, daily budget, or lifetime campaign budget.

It’s time to start your Social campaign

Now more than ever businesses are jumping on the social media bandwagon in hopes of reaching and connecting with their customers. Social media provides the platform that allows connectivity in an engaging and comfortable environment.  In a time where connection is only a screen away, it is important to keep in touch with your customers and not get lost in the background.

Our social media experts at Paykel will help you get your business up and running on this important media channel!

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References:
https://www.sensis.com.au/about/our-reports/sensis-social-media-report
https://www.omnicoreagency.com/facebook-statistics/
https://blog.hootsuite.com/facebook-demographics/