Measurement companies agree: Consumers are running out of time to devote to media. And there is an ever-growing amount of content vying for their time and attention. Marketers that want to connect with their target audience must use consumer insight research to gain a competitive edge.
How to Research the Value of Consumer Attention
Marketers have a long history of trying to reach their target audience through multiple touchpoints – TV, out-of-home, audio, direct mail, etc. With enough touch points, marketers hope that consumers will remember the brand or promotional offer and make a purchase.
Is there a better way to make an impression on an audience? McKinsey analysts think so. In their recent studies, they focused on the idea that the quality of consumer attention is more valuable than the quantity. Their study was based on 3,000 U.S. adults. After evaluating how adults engage with content, analysts developed an equation to measure the value of attention.
Specifically, McKinsey analysts researched how consumers give their attention to marketing messages. It turns out that focus makes a big difference.
How to Define Focus
McKinsey analysts believe that catching a consumer’s attention at a sporting event or an amusement park delivers more value than linear video or social video.
This is due to the consumers’ “level of focus.” Consumers tend to focus when they are at a sporting event, reading a book or playing a video game. When consumers engage in high-focus events, they spend money. Analysts reported that “a 10 percent increase in average focus paid across mediums is associated with a 17 percent increase in spend across mediums.” Marketers can benefit from this valuable consumer insight research.
How Marketers Can Connect With Focused Consumers
Consumers have different reasons for being highly focused on specific activities. Enjoyment is a key driver. When consumers are engaged in activities or events they like, they are paying attention.
Consumers might also access content because they want or need to learn. They will scan a video on how to repair a flat tire because they believe the instructions and advice will help them. In this situation, their level of focus on the content will likely be much higher than when they are listening to a podcast while cleaning the house. They may also pay more attention to the ads served when they are highly focused.
Advertising-Driven Purchase Data
In developing their formula, McKinsey analysts considered the consumer attitudes about advertising. They noticed an association between frequent content consumers and their level of “advertising-driven purchases.”
These people have an advertising-driven purchase rate of 2.5 times a month. Social video and streaming video are favorite content forms. They are far more active than consumers who rely on linear TV and newspapers for their content and make 0.7 advertising-driven purchases a month.
Have you helped your accounts consider the value of consumer attention when they design their ad campaigns? For example, they may want to consider placing ads in video games to connect with target consumers who shun other forms of media.
Ads tailored to content designed primarily for educational purposes can tap into a highly engaged and focused audience.
McKinsey analysts point out that some media formats are undervalued, especially in the context of high consumer engagement and context. For example, running ads in digital books and mobile gaming may deliver great results.
Advertising Impact
The power of consumer attention shouldn’t be overlooked when marketers buy paid media. Writing for GWI.com, Sam Ernest-Jones reports that ads must appear in the right channel with the right creative aspects. All those aspects should align with “the attitudes, motivations and perceptions of [the marketer’s] target audience.”
Summary
Your accounts need access to consumer insight research. And the necessary information goes beyond demographics. Behavioral insights such as which media formats consumers use and their general attitudes about life signal their openness to marketer messaging. To learn about which audiences are most engaged with specific pastimes, hobbies and media formats, check out AudienceSCAN, powered by AdMall. With this data, you can help your accounts develop ad campaigns that deliver a better ROI.
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