A global entertainment brand that relies heavily on large, high profile product launches had challenging questions about how they could optimise their approach to increase launch success.
A global entertainment brand creates products characterised by big launches but relatively short shelf lives, so their sales and success are heavily dependent on generating the biggest volume within a short time frame. Relying on media marketing in the run up to launches, the brand had challenging questions about how to optimise their approach:
• How far ahead of launch was the best time for the brand to start their campaigns?
• Which channels were the most effective?
• How much media was sufficient to hit target?
• Should the rules be different for different product
characteristics (title, franchise, genre, etc.)?
Combining stakeholder interviews with an investigation of data sources, we identified a need to apply a Leading Indicator framework, allowing the brand to understand the key factors prior to launch that were consistently shown to be good indicators of success. For example, Twitter conversations and shares, Facebook likes, YouTube plays, industry review figures and circulation, etc. These leading indicators accounted for the various genre types and product categorisations, providing the brand with a way to analyse and predict product success in real time.
We generated data driven insights helping the client to apply a framework to drive product success.
This consisted of an accurate forecast for product launches, strategies for the levels of media investment by channel and how those activities should be phased in order to drive the maximum impact on the launch period.
The forecast also showed that given current activities, some launches were expected to far exceed their initial targets. This meant that the brand was able to reallocate marketing funds to products that forecast to perform less well without the need to increase overall budgets.
Over $9M above target was generated on one product launch alone without the need to increase the total media budget.
The Take Away
The brand’s ability to predict product success based on leading indicators enabled marketing funds to be allocated according to data driven forecasts, exceeding target by over $9M on one product and equating to multi-million £ improvement in media effectiveness.
Download this case study to see how we were able to improve media effectiveness helping products to exceed their targets.