Your Media Strategy Moving Forward

Should Look Back a Little, Too

This time of year, HS and our clients are well into planning for the next year. That process of examining, auditing and adjusting never stops.

With the calendar year coming to a close, it’s a good time for businesses to look ahead to their media strategy, media budget and media opportunities for the coming year. Responsible planning requires looking back, too. What has worked well? What has underperformed? And what needs to be adjusted?

Where to Start In Measuring Your Media Effectiveness

It’s a longstanding question. “How do I know what I’m doing is working?” There are a few obvious benchmarks, such as:

• Have my sales increased year-over-year?
• Am I processing more leads?
• Has my customer base grown?
• Are my website and social visits up?

These are good general indicators. But at HS, we take an even deeper dive because every business is different in size, scope, volume, product offering, market size, etc, It’s important to look at the following, from both a data-driven perspective and a big-picture view:

• What were your identified goals for the past year?
  Awareness? Leads? Conversions?
• Are your digital ads meeting industry and platform performance benchmarks?
• Have you had any business or industry shakeups that may account for increased or decreased interest in your product or service?
• Did you maintain the integrity of the budget you set? Or do you have to account for that extra sponsorship OR that campaign you didn’t get around to running?
• What has changed for you this past year that may dramatically affect how you approach next year?

When HS discusses media strategy and media planning with our clients, the topic of media spending comes much later. There is history to review. Successes or failures to consider. And many variables that affect you moving forward.

Of course, reviewing your past budget and its effectiveness is critical – especially as you look to budget for the coming year.

Trends Change – And That Doesn’t Have to be Overwhelming

AI, automation, personalization, short-form video, influencer marketing and more are likely here to stay – and demand some role in your media mix. But for each of those, dozens of new trends and opportunities will emerge this coming year.

For example:
New digital radio or podcast options
OTT/CTV streaming platforms
New social media platforms
Evolving requirements in how and what you can boost

That can seem overwhelming. But it also makes a great case for a plan and a partner.

Wondering where to start on examining your media effectiveness? How to budget for the year ahead? And make room for emerging opportunities?

HS Media Planning and Strategy can help. While managing your advertising and marketing may be just one part of your day, our media strategists live it every hour of every day.

And that can prove very helpful in your strategy moving forward. Book a meeting today or e-mail becka@henkinschultz.com.