WINNERS’ CIRCLE Welcome #NMA19
WINNERS’ CIRCLE Julie Cailliau President, National Media Awards Foundation Associate Publisher and Editor-in-Chief, Les Affaires
WINNERS’ CIRCLE Kyle Verge President, PUSH Media Inc.
` Agenda • Ask questions! • Quick Introduction: PUSH Media • NMA subscription conversion beta test • Strategy & creative • Our findings so far & ideas to consider going forward • Great content vs sustainable business NMA � 4
PUSH is a Performance Marketing Consultancy. We use precision data to lead engaging one-on-one conversations with target consumers at optimal touchpoints. NMA � 5
PUSH utilizes a Zero-Waste™ approach to full-funnel marketing. From traditional formats to digital platforms, our performance-first method optimizes today’s information landscape. Data-driven, insightful strategies and predictive marketing analytics allow us to accurately predict, report and deliver highly successful full-funnel marketing strategies. NMA � 6
How do we do it? Our Zero-Waste™ Approach. Smarter Testing Empathetic Analyze & Adapt Predictive Journeys Marketing We use insights to build We maximize budgets At the core of every target personas before with real-time analysis Every persona has PUSH campaign is testing funnel and intelligent pivoting multiple paths to data-driven research, performance across to boost campaign conversion. We test to insightful strategies, hundreds of multi-channel efficacy and collect optimize the perfect and predictive analytics touchpoints. valuable learnings for messages and creative — allowing us to the future. that drive audiences surpass expected KPIs down the funnel to before your campaign purchase. goes live. NMA � 7
We’re not traditional and we don’t just do digital. NMA � 8
A holistic approach to marketing • Today’s advertising landscape is more complex than ever before. Most of our clients execute full- funnel marketing strategies with up to 10+ channels that need to operate in concert and sequence — and must be tied back to measurable performance and ROAS. • Sophisticated strategies cannot a ff ord leaks at any stage in the customer journey. By taking a holistic view of the entire purchase funnel, we ensure a streamlined strategy devoid of fragmentation and gaps. Precision and e ffi ciency is the key to a ff ordable cost-per-lead or cost-per-subscription marketing. • Today, all advertising channels must all work together to convert or sell, and our unique strategic approach makes sure they do. NMA � 9
Main channels we operate in. NMA � 10
Clients we work with. NMA � 11
We PUSH the traditional model farther to deliver record-setting ROAS for cross-channel advertising campaigns. NMA’s contacted us to see if we could develop a conversion funnel utilizing our method that could help award-winning Canadian magazines sell more subscriptions. NMA � 12
NMA Subscription Conversion Case Study Campaign Background NMA � 13
Background • The decline of paper magazine subscriptions is nothing new, yet, it would seem that many magazine publishers in Canada still rely on paper subscriptions to account for a substantial portion of their revenue. • We started this project with an audit and found that +90% of Canadian magazines do not currently invest advertising dollars to support digital paid media from a subscription conversion POV with the goal of tracking and selling incremental paper-based magazines. NMA � 14
But Why? • If subscriptions remain a substantial component of magazine sustainability (online & o ffl ine), why are the vast majority of Canadian magazines not executing cost-per- subscription based advertising programs? • Is it because they tried and the campaigns failed? • Is it because the wrong campaign strategy, budgets, or channels were used? • Was the advertising cost-per-subscription too high? • Have some magazines simply never tried? • ….or, are their other factors at play? (lack of consumer interest, digital infrastructure issues, advertising resources, etc). NMA � 15
Answer… • Short answer: Yes! To all questions. • Magazines have tried to build conversion strategies and execute advertising campaigns but many were unsuccessful (so far!). • Some of the tactics, budgets, and channels that magazines attempted to implement were incorrect to achieve goals. Multi-channel CPA strategies are complex to build/understand and even more expensive to manage. Lack of resources is an issue. • For those that built conversion tracking, the advertising cost-per-subscription was far too high. • Many magazines have simply never tried. Not because they don’t want to, but lack of resources. • Other factors are at play. There is a gradual YoY lack of consumer interest for paper products. Digital infrastructure issues are widespread across magazine websites. NMA � 16
How can we help? What can we test? Is their a sustainable business model in advertising print subscriptions at an affordable rate of return to solve for some of these issues? NMA � 17
Conversion Test Mandate 1. PUSH will develop a multi-channel digital strategy for a national bilingual campaign to increase NMA’s award winning magazines awareness, reach, and subscriptions with 25-40yo consumers across Canada. 2. Through a digital performance strategy, PUSH will enable an omnichannel approach to reach, qualify and convert sales in readers native digital platforms. Consumers are targeted based on interests, online behaviour and geographic locations. 3. The pilot campaign will additionally allow us to acquire data on consumers for extensive remarketing and lookalike modelling. With behavioural and engagement data, PUSH will serve top-of-mind ads across Social & Search until conversion (subscription) or disqualification. • NMA � 18
Channels in our strategy 1. Brand Awareness: Engage and qualify target audiences on paid social channels (FB/IG) as well as in-market display (Google) based on demographics/interests suited to each unique publication as well as users previous behaviour, buying habits and lifestyle. 2. Local Search: Ensure competitive positioning on Google through search placement on high-value searches to capture actively engaged new and qualified consumers. 3. Native Platform Remarketing: Keep the magazine top of mind to each previously engaged user across the multiple platforms that they use daily. Develop a strong value proposition micro-narrative stories (the “real thing” is better, looks great on your co ff ee table, etc) and deploy these stories as paid sequences over a period of time with pricing incentives until the each engaged user converts to subscription or exhausts the process. • NMA � 19
Creative Strategy NMA � 20
Creative Strategy TECHNOLOGY True design inspiration deserves more than to be bookmarked online. TECHNOLOGY Because a screen can’t capture the full complexity and beauty of truly great design. LIFESTYLE Like a piece of art you can touch. LIFESTYLE Make your home come alive with the brilliance of high-quality photography. TECHNOLOGY Breathtaking photography is best appreciated from the pages of an award-winning magazine. TECHNOLOGY Photography the way it was meant to be experienced – printed to perfection. 1 small investment and 12 months of delicious dividends. Never miss Toronto’s freshest and most delicious details. NMA � 21
Don’t pay attention to Facebook’s terrible auto-translation —> * NMA � 22
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Results to-date NMA � 29
Although we applied all the best practices… • For example: We set multiple interest groups as separate ad sets: For Magazine A: Culture, Art, Travel, Film, etc. For Magazine B: LifeStyle, Interior Design, Nature, etc. • We built remarketing campaigns by targeting people who visited the website or engaged with the social media posts but didn’t subscribe yet, we tried to bring them back. • We applied A/B test on targeting as well as ad creative to narrow down the best performing creative. • We set bid controls at di ff erent levels to find out the best positioning in the market. NMA � 30
We haven’t yet obtained efficiency because of.. • Lack of conversion tracking ability Only 2 of 6 magazines were able to implement and provide us a proper pixels to track conversions. • Inconvenient website structures to sell online Most websites are missing the key layers between product pages and conversion pages (such as add to card, payment info, etc). Instead, +90% have a single multi-entry required subscription page, which is by far the lowest performing method of generating online sales or conversions. • Poor UX/UI for consumers navigating website in general. • Campaigns are still ongoing and live, they continue to become more e ffi cient, however, they will not reach desired or profitable e ffi ciency until these barriers are fixed. • These same principles apply to performance of digital content, impressions, time spent on page, etc. which ultimately also impacts digital advertising revenue and business sustainability as well. NMA � 31
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