Behind the Media Buy: Incrementality and Lifecycle Marketing with Chris Rigas, VP, Media at Markacy

[This episode is installment one of our Media Buying Track for our DTC/ECOM series.

Get Part One and Two of the Measurement Track.]

How do Media Buyers think about, well, buying media?

Specifically, how do DTC/ECOM media buyers think about buying media?

Get inside the mind of former Vayner Media buyer, and VP, Media at Markacy, Chris Rigas as he gives us the inside track on the Why, How, and What matters most to creating profitable brands that scale.

Top 10 Takeaways 📰

1. Brands should focus on acquiring new customers rather than overspending talking to existing customers via paid media. Why? Because the reported ROAS for existing customers is typically higher than the actual incremental ROAS.

2. Incrementality testing is critical to determining the true impact of different marketing channels. Try This: Match market tests can help identify the incremental revenue generated by specific channels.

3. Balancing media spend between creative and actual media is essential. Creative plays an important role in driving performance and can be overlooked. Consider: Effective ad dollars and the relationship to creative dev.

4. Traditional media, like OOH, can be truly incremental and complementary to digital channels like Facebook and Google. Why: Reaching new audiences.

5. Over-attribution can occur when multiple platforms take credit for the same conversion. Pro Tip: Limit the number of digital channels and focusing on the ones that drive the most results can help avoid over-attribution.

6. Transparency in messaging during sales events, like Black Friday or Cyber Monday, is table stakes. Brands should avoid misleading or confusing customers with any sale message to maintain a positive customer experience.

7. User-generated content (UGC) is under-leveraged in promoting sales. Brands should consider creating more entertaining and relatable content that resonates with their target audience.

8. Brands should prioritize email and SMS programs, as well as website optimization, to maximize customer retention and lifetime value. 

9. Avoid over-optimization from a content standpoint. Instead of creating highly tailored creative for existing customers, focus on distilling the brand and product in a way that is universal and engaging to a broader audience. Pro Tip: Be cohesive.

10. When working with media partners, prioritize those who provide input and expertise on creative strategies. Their insights can help optimize the effectiveness of out-of-home, TV, or direct mail campaigns.

     

Key Moments 🔑

1. 00:02:09 - Media Buying and Budget Optimization

2. 00:03:31 - Balancing Creative and Media Spend

3. 00:07:10 - Incrementality and Attribution

4. 00:08:19 - Over-Attribution and Marketing Efficiency

5. 00:09:10 - Starting Points for E-commerce Media Buying

6. 00:10:13 - Channel Expansion and Over-Targeting Issues

7. 00:12:18 - Incrementality Testing and Match Market Analysis

8. 00:14:58 - Why NOT To Nurture Existing Customers with Paid Media

9. 00:17:01 - How To Know When to Explore New Marketing Channels

10. 00:22:00 - Black Friday/Cyber Monday Biggest Mistakes

     

🚨 OOH Case Study 🚨

Don't forget to download the Out-of-Home case study mentioned in the episode.

• https://www.theoohinsider.com/downloads/case-study-geneo/

   

Connect with Chris Rigas and Markacy 🤝

• LinkedIn: https://www.linkedin.com/in/chris-rigas-b03079b1/

• Email: chris.rigas@markacy.com

• Markacy: https://www.markacy.com/

   

To listen to the episode, search 'OOH Insider' wherever you enjoy fine podcasts or visit https://www.theoohinsider.com/mediabuying101 🎧