Consumer behavior is reshaping the media industry - Epinion Insights

Consumer behavior is reshaping the Media Industry

Epinion Media

Insights

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How to stay relevant with Media Insights

Media organisations have seen the revenue from both audience and advertisers drop due to

the take over from digital platforms.

The digital economy is no longer a small department or a strategy in Media organisations, it

is an integrated part of every aspect of how today’s Media organisation does business.

Digital technologies continue to transform the economy and the way to do business and

many leaders are struggling to keep up with the pace.

Source: Digital Pulse 2015, By Russel & Reynolds Associates

But, there are three factors that organisations can focus their resources towards in order to

keep pace and stay relevant to their audience:

- Know your customers

- Catalytic roles

- Commitment

At Epinion, we know your customers

We help media organisations to identify the cognitive drivers of their customers’ decision

process and media comsumption, and give recommendations on how to utilize these

insights into more profitable and loyal customer relationships.

Read our paper on how consumer insights can help media organisations stay relevant to

their audience.

Happy reading

Mette Stensbek Christensen

Director, Business Development +45 25 56 39 49 [email protected]

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Executives who anticipate moderate or massive digital disruption in the next 12 months, by industry

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1. DIGITAL TRENDS RESHAPING THE MEDIA

INDUSTRY

For media organisations to stay relevant

to their target group, it is important to

keep track with the digital trends that are

remodelling the media landscape.

The digitalisation of the media industry is

driven by a change in consumer behaviour

and consumer expectations. Todays

media consumers have access for bunches

of free information, entertainment and

news through digital channels every

second of the day. But they struggle to

find relevant content of high qualitaty.

- Consumers demand instant access

to relevant content, anytime,

anywhere.

Three important factors have in particular

an influence in the media industry, all

driven by a change in consumer

behaviour.

CONTENT

Content is the king and it is working its way to the forefront of the strategy in media organisations (both digital and analogue), as it becomes a crucial element to stay relevant to the target audience.

“Think, micro segmentations”

Only ten years ago one-size-fits-all was the approach in the media industry, and now

focus is on creating unique, high-quality and utterly authentic content that is entertaining, useful and interesting for a target audience.

The access to free information has newer been bigger. But in many cases too, consumers are overwhelmed and confused by the variety and volume of information, and they ask for help to sort

good from bad, and relevant from irrelevant.

Targeting

Distribution Channels

Content

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It is important to have insights on what type of content your customers prefer and to be able to predict changes in preferences, if you want a loyal customer base, and to keep a head of competitors.

For organisations to stay relevant it is

important to become skilled at engaging

your audience with relevant content, that

motivates them to keep on consuming

your content.

Good and relevant content makes your audience come back.

At Epinion, we interact with audiences in

order to provide insights on what content

drives loyal customers and what will not.

We use anthropological approaches to get

a deeper insight into customers’ everyday

lives with and needs for media content.

We survey current and potential

customers to get an overview of different

segments’ attitudes and demand for

specific types of content.

And we test new ideas and concepts for

both digital and analogue content using

both qualitative and quantitative

techniques.

The most used types of analysis are:

Segmentation

Product test and development

Test of concepts

Competitive analysis

TARGETING

It is better to reach a large portion of a

small audience than a small portion of a

large audience.

Maximizing the reach of your media

offering by targeting content to smaller,

sub-segments within your audience,

enables you to focus on the verticals in

your services and to create good and

relevant content.

Also we see that the different channels

are used for specific needs for information

and in specific consumption situations.

At Epinion, we work with geo and

behavioural segmentations that enables

organisations to focus on creating content

that the individual see as relevant in

specific situations.

When the “new” content is up and

running, we help our media clients to

track and document the performance of

different type of content across channels.


Segmentation

Performance tracking

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DISTRIBUTION CHANNEL

Demographical shifts are having an impact

on what consumers expect from media

and how they consume it.

The power digital platforms and especially

of mobile and social media is transforming

how media is consumed and perceived.

But does that mean that analogue and

print media is irrelevant? No!

It means though that it is very important

to understand how consumers use a mix

of digital and non-digital platform.

To understand what the consumers’ steps

towards a gradually larger share of digital

consumption looks like.

And to understand what type of content

need is redeemed through different type

of channels.

Social Media

We’ve known Facebook is the biggest social media site (last published as 845

1 ComScore’s

million). But studies1 show that Facebook dominates in three ways.

First, Facebook is the premier player among all web properties in terms of time spent—and that means engagement.

Second, Facebook captures 14.6% of Internet users’ time compared to a combined 2% for all other

social networking sites.

Third, Facebook keeps the average user onsite for 7 hours each month.

The rise of Twitter and LinkedIn as the second and third most visited social networking sites is important to keep in mind as specially LinkedIn is a relevant

media for business and commercial content.

When deciding on your social media mix it is important to know how your audience consume information in these specific channels.

Video

It’s important that video is a part of your

content distribution strategy.

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Consumers are watching increasing numbers of videos online.

Many companies are using video channels well, but many small- and medium-sized businesses have yet to embrace this powerful platform.

The way people watch videos is changing with the advent of mobile phones, notebooks and gaming systems, and it is a

platform from where organisations can attract marketing spend.

Mobile

More than 8%2 of all internet traffic comes from mobile devices, and most organisations will have a 50/50 split between mobil and Desktop traffic.

A comparison3 on how men and women access social networking sites, shows that

mobile phones take second place with women being 10% more likely to access social sites on their phones. So if your target audience is women, mobile social media is where you want your content to be present.

2 comScore

How?

At Epinion, we have the tools to identify which platforms your customers are engaged with and we are able to track, in advance, if there is a shift in distribution channels.

We help our media clients to get consumer insights across many channels and devices, allowing them to deliver

relevant and meaningful experiences to their audience.


Segmentation




3 Nielsen

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2. SOLUTIONS Our Media Insights Solutions are customised to the individual client. Our research can for

example be a single customer segmentation or a 360-degree research including new

product development and test of concepts.

Advanced analytics

Our research is based on both Quantitative, Qualitative and Mixed methods, and we use

advanced analytics tools to deconstruct data silos and break down data complexity to

deliver insights.

Besides providing value-adding insights, our Integrated Insights Solutions enable our clients

to digitalise and automate decision-making and operations.

How to stay relevant

Our experience is that the media industry can benefit from insights based on five different

analysis and research designs.

Solution

Product test and

development

Segmentation


Test of Concept

Competitor analysis

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We work closely with our media clients to

provide actionable insights and integrated

insights solutions that lead to better and

more customer centric product

development.

We typically use both qualitative and

quantitative methods to design and test

the product ideas. We develop test

material together with our clients to get a

valid evaluation of the ideas.

Segmentation

We help our media clients to get a better

understanding of their customers’ needs

and buying habits through segmentation.

Our segmentation is typically based on

attitudes and behaviour and customized

specifically to media consumption. We

build internal consumption and behaviour

data upon the segments.


We help our media clients to track and

document the effect of using their

platforms. Both print, digital, social and

TV. How does exposure in your media

cause behaviour towards the clients’

products?

Test of concepts

Our qualitative senior researcher work

closely together with media clients to

evaluate and predict the potential for new

concepts. We get insights on how the

target group receive and understand the

storyline, idea and execution. The projects

are always handled by senior staff with

many years of experience within media

consumption and test.


Many organisations discover competitors

that will disrupt the whole industry far too

late to act. We recommend continuously

competitive analysis in order to stay

ahead of competitors and to gain insights

that enables organisations to act upon

disruption in time.

Competitor analysis has two primary

activities. One, obtaining information

about important competitors, and two,

using that information to predict

competitor behaviour to gain competitive

advantages.

At Epinion, we work close with our clients

to obtain important to monitor changes in

the market through the eyes of the

customers. We use anthropological

methods and desk top research to gain

insights on what’s to come.

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3. WE PROVIDE THE ANSWERS YOU NEED, WHEN

YOU NEED THEM

We combine more than 17 years of media research experience in industry-leading

companies with an in-depth understanding of theory and practice. We combine both

quantitative and qualitative methods with market leading data intelligence in order to

provide actionable results.

At Epinion, the people you meet initially are the people, who will actually run your

projects.

We’d love to hear about your next project, so get in touch with Epinion and determine how

you can benefit from our media research experience.

Our team of dedicated consultants are waiting to help you in your market research, allowing

your business to truly take flight.

Looking forward to hear from you.

Mette Stensbek Christensen

Director, Business Development +45 25 56 39 49 [email protected]

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4. EPINION, AT A GLANCE

Who we are

Epinion is a leading research and insights

management solutions company with Nordic

roots. Founded in 1999, we are a dedicated

team of insights consultants, data scientists,

software specialists and researchers.

Our international headcount numbers over

300 FTEs, all of whom work to service our

clients across Europe and Asia.

We command the latest technology and

methodologies when it comes to

sophisticated qualitative and quantitative or

even mixed methods research combined with

multiple data sourcing, integrating big and

small data sets, both internal and external to

the organization.

Our team masters advanced and predictive

analytics, as well as the latest technologies for

insights visualization and reporting.

What we do

We conduct research and advanced analytics,

deconstruct data silos and break down data

complexity to help organizations across the

commercial, public services and political

sectors stay relevant to their stakeholders.

Our work produces reviews, reports and

strategic recommendations, as well as

technology-enabled research and insights

management solutions, some even with

predictive capability.

Besides providing value-adding insights, our

solutions enable our clients to digitalise and

automate decision-making and operations.

EXPERIENCE since 1999

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FTE’s 300+

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EDUCATION MA/MBA/PH.D.

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COUNTRIES Global reach

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GROWTH 17 % annual

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Consumer behavior is reshaping the media industry - Epinion Insights