WWO Insights: Sales Drivers - Perception Versus Reality
|RADIO ONLINE | Monday, August 16, 2021|
Advertiser Perceptions recently asked 305 brands and media agencies to indicate the percentage of sales contribution generated by each of these six advertising elements: brand, context, creative, reach, recency, and targeting. This week's Westwood One blog looks at what the marketer and media agency perceptions of these sales drivers are and compares them to the realities.
- Targeting: Marketers and media agencies overestimate the impact of targeting by 2.5X. Marketers and media agencies consider targeting the number one sales driver at a 22% contribution. Per Nielsen, targeting is a distant third, generating only 9% of sales effect.
- Context/recency: The perceived impact of context and recency as sales drivers is overestimated. Marketers and media agencies think context and recency represent 26% of combined sales effect. Nielsen reveals the two elements only generate 7% of sales.
- Reach: The sales effect of reach is underestimated by marketers and media agencies. Per Nielsen, reach is by far the number one media sales driver contributing 22% of sales versus the 17% perception among brands and agencies.
- Creative: Marketers and media agencies massively underestimate the immense sales effect power of creative. Creative, according to Nielsen, drives almost half of sales. This is nearly three times what agencies and advertisers perceive.
- At 69% of sales contribution, reach and creative generate the vast majority of sales effect.
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