subject - promotional strategy

CASE STUDY

SPYCH MARKET ANALYTICS

A new age of marketing communication evaluation may be underway. Spych Marketing Analytics provides innovative solutions for companies seeking a better understanding of the future market environments, including the Gen Y and Millennial consumer segments, the advancement of technology, and the quickly evolving world of customer experience. The company tries to delve into the insights and emotions of these groups, providing an innovative portal into the psyches of these markets through its program called Empathic Youth Research and other mixed methodological approaches to consumer insights. CEO Benjamin Smithee argues that it is important to look at the foundations and fundamentals of the advertising industry, and right now we are seeing a dramatic paradigm shift in the ways marketing communications are delivered and consumed.

The media include traditional advertising venues, public relations, but also social media and mobile technologies, utilized by an evolving set of consumers.

Company employees work to enhance every aspect of the market research process. On its website, the organization proclaims, we create natural environments for our respondents, evoking rich insights and opinions that surface only through truly natural and empathic interactions. Further, The Spych Experience maximizes the return your team obtains from each project overcoming fallacies often associated with traditional youth research.

To achieve these ideals, the company employs innovative concepts regarding marketing metrics and consumer understanding. The concepts are based on the importance of going beyond simply engaging customers to include re-advertising. CEO Benjamin Smithee notes a new model in which sharing becomes a second important outcome from a marketing effort.

Spych seeks to identify levels of engagement in terms of intensity, in which a message is shared with friends and others. The concepts of share-ability and virality take on particular importance in Spych parlance. As a Spych Marketing Analytics employee noted, the company asks a key question: Does this pass the traditional advertising test and then lead to sharing? In previous times, an ad might be shared with one or two other people, such as when a person would tear an advertisement out of a newspaper or magazine and give it to a friend. Now, a message can quickly be re-posted to 200-plus Facebook friends.

In essence, Spych bases its conclusions regarding a messages success with engagement with an advertisement being measured first by click commitment, which is the willingness of a person to click on an ad on a medium such as Twitter, making that decision in three seconds or less, and second by socialization, or passing the advertisement on to others.

Taking the next step, new technologies allow for tracking of shares and targeted marketing capabilities unlike anything we have ever possessed. Beyond simply counting the number of times a marketing message has been passed along to others, the company can examine the social profiles of those receiving re-advertisements and focus on the influences most relevant to a brand, rather than the generic traditional means of targeting. The reasoning behind such tracking goes to the heart of the target market. A new generation of consumer shops in a new manner, communicates through channels that have not been previously available, and responds to companies and marketing messages in ways we have never seen.

The ultimate goals of these measures and concepts remain the same as in any traditional marketing effort. Return visits to various vendors, repeat purchases, word-of-mouth endorsements, and feeling a connection (brand loyalty) with a company, all of which lead to increased sales over time and suggest that a marketing program has achieved success. Re-advertising and sharing with others enhance the prospects of reaching the right audience, sending the right message, and creating long-term relationships with the company. As CEO Smithee summarized, The more layers you can seamlessly integrate, the better chance of getting something sticky.

Source:Kenneth E.Clow & Donald Baack (2022). Integrated Advertising Promotion, and Marketing Communications. (9th edition)

a. Propose TWO (2) earned media which will be benefited by Spych. Justify your answers.