|Rated Exposure Value (REV)|
Too often, media is bought on hope. As the cost of media is typically the biggest budget item in a communications budget, we prefer to take the emotion out of the media buys. To do that, we use a process called Rated Exposure Value. Here's how it works -
Who are your customers? In each market you cover, we will ask you to name and weight your top three prospect types by demographics or job title. Primary prospects receive a 100% weighting; the secondary and tertiary prospects are weighted according to their importance in relationship to a primary prospect.
For instance -
We then use a publication audit report or other information to sift and winnow for only those primary, secondary and tertiary prospects in the circulation base and apply the weightings to those that apply. All other recipients of the publications are eliminated. The resulting figure provides the number of your weighted prospects reading the publication under review.
Just because your weighted prospects are receiving the publication doesn't mean they're seeing your ad. We need to first discern the average issue readership of the publication. Almost all publications have these figures but most won't volunteer them. With this figure, we can determine the opportunity for readership. If four out of five issues received are picked up and read, we know that 80% of your weighted prospects will have an opportunity to see your ad in any given issue.
If the publication provides ad readership scores (and, remember, these studies are done only over recipients who have read that particular studied issue), we calculate in the average "noted ad" figure. When ad readership figures are unavailable, we go through the backdoor by discerning the amount of time spent per page by dividing "time spent with publication" by pages. We can now determine how many weighted prospects will see your ad if your ad is average.
When these numbers are divided into the cost of the ad, we know the cost of reach for your prospect and can compare this number with that of competing publications and other forms of media including direct mail.
Other calculations. Using duplication data, we like to determine the universe for any set of competing publications. With the rated exposure value of each individual publication, we can decide which two or three magazines will deliver the optimum universe with the frequency required to meet your objectives at the best possible investment.
We will also often use Law of Forgetting statistics to determine optimum reach and frequency for any given budget.
BOTTOM LINE - The selection
of media is a serious business at Brigham Scully.
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