LAS VEGAS –Marketers need to ensure that they are reaching consumers not only at the moment of purchase, but years before when they are beginning to develop affinity for products, says Scott Ferber, Chairman and CEO of Videology, in this taped interview from CES. For example, if a car buyer first hears about a Lexus when the buyer is in the market for a luxury vehicle, it’s probably too late. That consumer affinity for luxury vehicles needs to have been built over time, years before, he explains.
“If you only target at the moment when the transaction is likely to occur, how does the consumer develop aspiration, knowledge and interest in a product early enough so that when the time is right the consumer is interested?” That’s why broad targeting is important for marketers as well as more narrow targeting.
In fact, Videology has found that the ideal split of media dollars should be between fully addressable ads, content-centric ones, and the traditional demographic type. “Our stats show maximum yield from a media company perspective with one third, one third, one third,” he says. He also delves into how trade marketing may change over time, given shifts in consumer buying habits.