Success Story: Smith & Wesson
The Challenge
- Smith & Wesson, a leading outdoor firearms brand, was a significant advertiser within endemic print & TV channels. While these channels were necessary to reach their audience, they were oversaturated and limited in their ability to reach new audiences without additional budget. It was assumed based on their brand, that they were receiving the lowest rates and that all publications and shows reached their core target. As their target audience’s media habits were beginning to shift, an evaluation was needed.
The Solution
- Watauga did a thorough review of print & TV investments. Print buys were renegotiated based on quality of publications, verified circulation, CPM, content, etc. Media plans were refocused on quality titles that reached their core audience with more efficient CPM’s.
- TV Sponsorships were re-evaluated based on spot time and on-air coverage, including a customized value given to product usage, name mentions, endorsement, etc. Watauga utilized ComScore ratings to pull trending of shows and an analysis of the target audience to renegotiate contracts to align with actual values.
The Results
- Smith & Wesson reduced print media costs by 15% and TV media costs by 25% using the renegotiated rates. Additional savings were achieved by eliminating titles and shows that did not effectively reach the target audience or had poor ratings or significant decline in circulation.
- Savings were reinvested in digital media, which enabled Smith & Wesson to increase audience awareness with those outside of their endemic space at lower CPMs.
