Problem

Intensifying competition in a growing market where mid-tier entrants rapidly joining the market and taking market share for established businesses. The business was looking for a way to maximise its media buying for efficiency with the desire to not lose market share as experienced by competitors.

Solution

Use innovative data targeting originally designed for direct marketing and apply as an alternative analytics tool for buying television and radio advertising. “Wealth Under Management Data” used allowed media strategy to target to the Zip code + 4 level of granularity to isolate where the established high resistance markets are as well as untapped markets. Insights suggested adding spend to television and radio media buying areas in a different allotment and national footprint where untapped and lower resistance markets were untapped. The business presented the analytics to mitigate concerns about leaving the security and familiarity of the major metro media buying. Short term campaign testing demonstrated a minimal negative affect of slight reductions in advertisement to traditional media buying areas. This provided the launch pad for testing alternative media buys in different markets.

Result

The data and insights offered a contrarian recommendation to reduce media spend in the established hotbeds in the major metros and re-allocating to other areas. All large competitors lost measurable market share to new entrants while Scudder was able to maintain or slightly increase share of market and growth in new untapped markets.