Parsing Through the Costs of the Macy’s Thanksgiving Day Parade
Originating as “Macy’s Christmas Day Parade” with live animals in 1924, the modern Macy’s Thanksgiving Day is a cherished hallmark of our country, garnering millions in both views and dollars every year.
Costing anywhere from $10 million to $13 million in production cost on an annual basis, families have a tradition of remaining glued to the TV as they watch wondrous floats followed by dizzying dancers and famous musical artists take spotlight after spotlight.
However, up until this year — when Peacock officially grabbed at the opportunity to be the one and only streaming platform to feature the parade — the event only aired on broadcast television, leaving marketers wondering whether it was worth the cost of sponsorship in a world that has been increasingly concerned with digital consumerism.
Our take on it? Absolutely, it still pays off. Here’s what to keep in mind:
The “Why”
Let’s face it: The Macy’s Thanksgiving Day Parade is here to stay.
Most would agree that simply partaking in the parade is an honor, offering companies the opportunity to showcase their commitment to American ideals and unity. And what better way to boost your brand reputation than to contribute to a national sense of holiday joy?
But warm and fuzzy sentiments aside, the reason a company might choose to participate as a sponsor of the Macy’s Thanksgiving Day Parade is simple: for the sheer amount of views they’ll amass.
This year, “NBC’s coverage of the Macy’s Thanksgiving Day Parade drew a total of 25.4 million total viewers and a 6.4 rating in the adults 18-49 demographic on Thursday across the live broadcast and encore immediately after,” according to Deadline.
What’s more, with holiday shopping on the horizon for most households, even an ephemeral appearance of your brand’s logo on a float may be all it takes to plant a spending seed in the mind of your potential customers.
The “How Much”
As large companies generate considerable returns on their investment following the Thanksgiving Day Parade, it makes sense that many would clamor to purchase ad space while the renowned parade airs live.
“In 2019, the network generated an estimated $49.2 million in ad revenue from the Macy’s Thanksgiving Day Parade, while The National Dog Show brought in $11.7 million and the prime-time NFL game … yielded $72.1 million,” as reported by AdWeek. “That’s close to $133 million in ad revenue for the three events.”
And comparing that to the aforementioned $13 million production price tag? Well, yeah, let’s just say that’s not bad at all.
That being said, for those looking to skip the traditional commercial ads and actually be recognized in one of the nation’s most beloved and non-controversial events of all time, businesses may also opt to sponsor the balloons themselves.
In fact, according to CBS News, brand new parade balloons cost sponsors approximately $200,000 each, or nearly $90,000 should they sponsor a returning balloon.
The Bottom Line
Okay, so maybe your business isn’t quite ready to tackle the Macy’s Thanksgiving Day Parade, but that doesn’t mean you can’t hold onto it as a big audacious goal of your own.
And if you’re ready to embark upon the journey that will carry you into the right direction of growth, Mad Men Marketing can help you get there!
After all, here at Mad Men Marketing, we are rooted in the belief that brands should interact with their customers, not interrupt them. And what better way to grow than to have measurable goals and research experts at your fingertips? From traditional marketing expertise to digital strategy, social media engagement and more, our team is ready and waiting to reach new heights of gratitude and success.
So, if you’re ready to learn more, contact Mad Men Marketing today by calling (904) 355-1766!
PPC Trends of 2022
PPC Trends to look for in 2022
As I am writing this for “things to look for in the PPC (pay-per-click) world in 2022”, things are already changing and will be somewhat different by the time this blog is indexed by Google and read by you. However, this list below will still be a strong list to consider when building out a successful PPC campaign in 2022 and beyond!
Here is a list of things to look out for in 2022:
- First-party data
- Better conversion tracking and bidding
- Education is very important
- Testing & Adapting (A/B when you can)
- Audience targeting (more segmented than ever)
- UX (user experience) is paramount with landing pages
- Bid adjustments will need to change frequently
We have run thousands of PPC campaigns in the last 15 years and I can tell you one thing that never changes….you must be able to spend more than your competitor(s), and when you cannot, you must outmatch them with an effective strategy. So many opportunities exist for great PPC campaigns, but you must always be changing and evolving your campaigns – using the free Google research tools is a great start, or finding an agency that can help you develop and manage a great campaign should be on your radar.
Advertising Locally on Streaming TV
Advertising Locally on Streaming TV (specifically Hulu)
I think everyone knows what streaming TV is, but in the very basic terms, it is the digital distribution of any video content that is consumed on TV screens. Some popular platforms are Disney+, Netflix, Prime and for this article, Hulu.
I am focusing on Hulu because they are the first service to offer local insertions in their programming. This is huge for local advertisers! According to Nielsen, adults 18-34 traditional TV ratings have declined 69% since 2017. So in 4 short years, 70% of adults under 35 years of age, are no longer watching traditional, local news station content over the air, or through traditional cable service providers. I for one have been a huge fan of “Only Murders in the Building” on Hulu, and when a platform has successful content such as this, it increases usage in large numbers. As an example, I am now watching the Hulu platform almost daily at some point, whereas before the show, I did not.
So why is this important? Because like me, Hulu viewership is up in a big way. As Hulu puts it, we are starting to see GENERATION STREAM come to maturity and they consume their content almost exclusively on a streaming service. In fact, Hulu’s research points that ads on their platforms are 151% more engaging than linear TV. There are many reasons for this, but their limited content breaks and non-traditional approach to breaks in general, makes for a better user experience.
The new Hulu self-service option to buying and inserting ads locally in their programming, for as little as $500, is something I hope local companies will take advantage of!
Marketing Methods And The Merit Of Earned Media
Let’s be honest: you want to see your business’s name on the news, but you don’t want to have to pay to get there. After all, intentional ads are all well and good, but journalistic attention is far more likely to bring in the leads you can actually convert, right?
We understand. While owned media and paid media certainly offer their own benefits and have their own place within a multifaceted marketing strategy, there’s another ultimate form of media that brands are constantly chasing after… and possibly without even knowing its name.
Specifically, we’re referring to earned media.
The Ins-and-Outs of Earned Media
Simply put, “earned media” is any kind of publicity you and/or your brand receives without having to create or pay for it on your own. In other words, that five-star Yelp review? That public praise you were tagged in on Facebook? A passing recommendation of your business from one friend to another by word of mouth?
Those are all examples of earned media.
What’s more, earned media is becoming increasingly commonplace given the continual broadening of the internet, social media platforms, and the overarching globalization of today’s market.
And for you, that means more opportunities to convert customers. In fact, not only do 83% of online audiences trust their peers’ digital recommendations more than that of advertisers’, but “25-40% of all traffic and lead generation comes from earned media,” as reported by Newswire.
How Earned Media Is Earned
“Great,” you may be thinking. “Earned media sounds fantastic but how do I, well, earn it?”
Allow us to present you with a few key methods:
- Develop Exciting Content — When you have cohesive, catchy, and reliable content to share with your audience, chances are they’ll want to share it to their own stories and with their own friends.Specifically, “shareable content tends to be either really useful or really funny, and in the form of a list, infographic, or video,” as suggested by Hubspot. Whether you’re taking a public stand on an issue, unveiling a new innovative product, or simply rebranding for the coming year, you’ll always have the opportunity to develop increasingly exciting content.
- Engage Your Audience — While content provides you with a polished brand presence from the outside, developing your leads from the inside via engagement is what will garner trust.By responding to and interacting with your audience on your website and social media platforms, you can further build a positive brand reputation that is worthy of more attention. In some cases, this may also include capturing the attention of influencers. Beware, however, as the trick is figuring out how to gain the influencer’s endorsement without handing over a significant sum of money.
- Attend Live Events — By attending events that are relevant to your brand and industry, you can provide yourself with the opportunity to more literally and physically interact with potential leads.Try posting photos and videos to your Instagram story in real-time, tagging on-site advocates and attendees, spotlighting your company culture, and generally putting a face to your overall brand name. The more personalized you can make your brand, the more likely your audience is to trust you, gravitate toward you, and pull their network along with them.
Of course, these three methods aren’t necessarily the end-all-be-all for any one business. But they’re three distinct ways of building your brand’s voice and angling it in a way that individuals are more likely to take note of you.
Earning Made Easy
Developing a strategy for earned media is as helpful as it is challenging. After all, when you’ve effectively earned public attention without spending so much as a dime, you know your overall business is generating both effective products/services and an authentic presence.
The obstacle, though, is determining how to get there.
“When asked to identify the top three biggest challenges in implementing an earned media strategy,” Cision explained, “60 percent of marketing/communications professionals chose identifying and connecting with key influencers, 52 percent chose measuring financial impact of programs/prove ROI and 42 percent chose creating compelling content.”
But don’t worry — before you begin sweating over the small details, we want to remind you that you never have to develop, implement, or coordinate such a strategy on your own.
Not when you have Mad Men Marketing on your side, at least.
Our team understands that your focus should be trained solely on your existing responsibilities as a leader and entrepreneur. Thus, our services are specifically designed to offer you more than mere media management; namely, we provide creative digital campaigns, social media strategies, research-driven results, and more!
So, are you ready to interact? If so, reach out to Mad Men Marketing today by calling 904-355-1766.
The Model You’re Missing Out On: It’s Time To Factor In Freemium
Filing Through The Freemium Facts
The math is simple: Free Content + Premium Content = The Freemium Model.
In other words, freemium content utilizes a two-tiered conversion strategy aimed at targeting new leads with free content and/or services. This is because, by offering your audience access to your product with no strings attached, you can continually build trust with them — thereby optimizing your ability to retain their loyalty long-term.
What’s more, once they’ve gotten a taste for your free content, the key is to pique their interest with an enhanced or expanded version of those products, services, or content available only when they take the next step with their wallet.
“Because free features are a potent marketing tool, the model allows a new venture to scale up and attract a user base without expending resources on costly ad campaigns or a traditional sales force,” as explained by the Harvard Business Review.
In other words, freemium content is all about strategically dangling the carrot in front of your audiences’ noses in an effort to lower your overall customer acquisition cost (CAC).
Finding Today’s Freemium Models
“Successful freemium apps offer continuously evolving content or services to provide value to users and to encourage engagement and monetization,” Apple reports on their App Store website. “Engaged users sometimes move quickly through content, and planning and resources are required to keep the pipeline full.”
Thus, one prime example of a freemium model in today’s market would be that of Spotify.
Providing users with a wide, nearly unlimited library of music and podcasts across all genres and industries, Spotify is arguably one of the most widely accessed music streaming apps across the globe today.
Of course, you can always use Spotify for free, in which case you’re provided with the same general services — like content access, discovery tools, playlist creation capabilities, and even music blacklisting options — as with Spotify Premium.
The drawbacks? Users can’t endlessly skip songs, download content to listen to offline, avoid annoying ads, or further customize their unique Spotify algorithms.
They can, however, do all of those things with Spotify Premium — which makes it entirely unsurprising that it has over 155 million paying subscribers today.
Fitting Freemium Into Your Marketing Plan
If freemium sounds like a fresh and flexible new model for your business, the only question, then, is how best to effectively integrate it into your marketing strategy.
After all, if you’re attracting plenty of new leads but are finding that few — if any — are paying for your premium services, you may be offering too much at the basic level, thereby dampening the allure of your higher-end product(s).
On the other hand, if you’re not attracting any new users at all, it’s time to reconsider what other boosts you can give to your basic offerings.
But don’t worry, if you’re struggling to find the best balance for your business, you don’t have to continue taking shots in the dark.
Here at Mad Men Marketing, we recognize that freemium content offers an excellent avenue for interacting with your audience, as opposed to interrupting them and consequently chasing them away. That’s why our team specializes in designing and developing a strategy in accordance with your business’s unique needs and goals — because, at the end of the day, conversion is key.
Effective freemium strategies are not far out of reach. To learn more about how our team can optimize your marketing model, contact Mad Men Marketing today by calling 904-355-1766!