Powills: Report- Higher income affects how men spend and consume media

I like to think of myself as a sponge. I collect as much information as I possibly can, and then, after processing, try to connect that information to existing paths created in my mind. Mental, I know. Often I focus on connecting the data back to what I do for a living, creating more credible awareness for brands, both on the consumer and the development sides. A few weeks ago, I become fascinated by a report put out by AdWeek. The report, as you can see, suggests that higher incomes affect how men spend and consume media. Since the majority of our clients at No Limit Agency* are franchise brands, I see this data as essential to understanding how you spend and where you spend. A media mix — as in a diverse mix of media — is important to spreading your message as a franchise brand. Ideally, with a spread of ads, PR, marketing and messaging, you will be able to put the right message in front of the right person who could ideally become a perfect new franchisee. As I have written about in the past, it is challenging to determine exactly what works, because timing is everything. For instance, some company could be placing an ad in a publication, right now, that has never netted anything for the brand. There is no tracking in the ad, and the audience is not the right fit, yet the brand constantly wastes dollars with some ad sales guy convincing it that this publication is the perfect fit to reach prospective franchisees. That person might not read this column or might not know what 1851 is. That person might never know who I am. Unless, of course, someone forwards, shares or informs that person about this article. That person could be the perfect client for No Limit Agency, but, because of a lack of perfect timing, this article will not influence them. Maybe, though, next week’s column would. That’s why advertising is so challenging. You only really get one shot with an ad. Clearly, this is why PR carries a higher value, because you can use that article, TV segment or radio hit over and over again, further showcasing why your brand is credible and why someone should consider it. The AdWeek article showcases where men with money consume media and where they are likely to buy (Amazon). Based on the study, print still influences wealthy men more than any other area. What does this mean for you? Well, if you are looking for qualified prospects, then go where they play — and where they want information. I have written this many times before, but it amazes me that franchisors rarely poll their current franchisees to gain information on where they consume media. Perhaps this will help guide your decision to whether you put your money into print, digital or elsewhere. Information is simply a guide to what works. But the challenge is that the conclusion that AdWeek provides is not the be-all and end-all. In fact, AdWeek has an agenda in that it is a print publication, too. Print is expensive, which is why many brands went the digital route (including portals). It is not guaranteed to provide success. Lastly, advertising is not the only part of your funnel. You are, too. If the dollars you spend is not netting the result you desire, it’s not just your PR firm’s or ad agency’s fault, as there can be other gaps in the process. Keep looking for holes and try to fill them. Use data as the suggestion, and then craft your model to fit your brand’s data.