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Optoma Media Planning & Strategy

The task is to prepare a media plan & strategy with 1 marketing objective (focus on customer metrics) and 2 media objectives with a media budget of £1 million to promote Optoma's projectors in the UK’s B2C market. 

​Summary

About Optoma:

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https://www.optoma.co.uk/

Optoma:

  • An international leading company with a mission of providing brilliant visual experience in the internet world for its consumers.

  • BenQ, View Sonic, Epson and Prometheanworld are the top competitors of Optoma.

  • Products include home theatre projectors, multimedia projectors, DVD all-in-one projectors, screen and digital accessories, etc.

  • Five key features such as fast response (low latency), wonderful colours (accurate colour reproduction), high resolution (true to life detail), full 3D (immersive gaming) and big screen representation.

Introduction

Optoma's Business Analysis

Competitors pricing (Positioning) and SWOT analysis model were used to evaluate Optoma's business.

Scenario
The total sales of the projectors in the UK’s B2C market are £7 million. The average sales of projectors across the European Union’s B2C market (including the UK before Brexit) are £5 million. Optoma’s total sales in UK’s B2C market are £500,000. The average sales of projectors’ sales across the UK’s B2C projector companies are £1 million. 

CDI (Category Development Index)

=sales of product (projectors) in UK’s B2C market/average sales of product (projectors) across the European Union’s B2C market

=7,000,000/5,000,000
=1.4
CDI =1.4 > 1

Therefore, the sales of projectors in UK’s B2C market are better than the sales of projectors across the European Union’s B2C market. Projectors’ market power is strong in UK’s B2C market.

BDI (Brand Development Index)

=sales of Optoma’s in UK’s B2C market/average sales of projectors across UK’s B2C projector companies

=500,000/1,000,000 =0.5
BDI = 0.5 < 1

Therefore, the sales of Optoma in UK’s B2C market are worse than the sales of projectors across UK’s B2C projector companies. Optoma’s market power is weak regarding its projectors in UK’s B2C market.

Target Audience

Optoma Target Audience

Media Mix

In Optoma's case, it is better to put the main focused on digital media when advertising its brand and its products based on its target audience media usage behaviors.

Owned Media: Content of Website

The brand pages such as its official webpage, Instagram page, and YouTube channel would help Optoma for providing simple cues of information, socializing and building relationships with the target audience as more effective methods. Owned media would gain more trust from the consumers to help Optoma build brand awareness and brand love. 

Earned Media: Instagram and YouTube

To help to increase the credibility of Optoma’s brand and products, Hashtags can be added to the social media advertisement which allows the audience to share and interact about Optoma and its products on online platforms such as Instagram and YouTube to create WOM within customers and distribute coupons through influencers, which is the most influential form of communication and help to gain first-time buyer, larger reach and frequency.

Paid Media: Radio, Print, Search and Instagram

It would help Optoma to increase exposure through paid advertisement. Paid ad helps reach a huge range of audience to be aware of the Optoma brand and rise its total sales. Search engine marketing and other media vehicles can be used together to make Optoma’s brand and product more visible to consumers. Radio channels such as BBC3 (Sounds of Gaming) in the broadcast vehicle would be considered to use to reach a large amount of audience since it is cheaper compared to TV ads.

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Digital vehicles in social media advertising such as Instagram and YouTube can raise brand awareness and bring consumers towards buying action. Instead of social media advertising, a traditional print vehicle such as a billboard is affordable and effective for increasing brand awareness.

Budget Allocation & Evaluation

Based on the £1,000,000 budget, most of the budget has been allocated to the paid media. A heavy ratio of the budget has been put into social media (Instagram) based on the target audience's media preference. The media plan has allocated £756,000 (75.6% of the overall budget) to paid media, £30,000 (3% of the overall budget) to owned media and £30,000 (3% of the overall budget) to earned media. The total estimated spending of the 6-month campaign is £816,000, an amount of 18.4% of the overall budget has been reserved for experimental and backup uses. The reason that spends a great amount on paid media is that it is high reach and high control which can help Optoma to gain more awareness and build a good brand image towards consumers.

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When planning the media plan and strategy for Optoma, research statistics in UK’s B2C market had been utilized. Also, when choosing the media vehicles and making the plan, the 5 factors (i.e. benefits and limitations of selected media vehicles, targeting, feasibility, reach and measurable) have been considered to ensure its effectiveness.

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CPM, TCPM and CPP can be used to measure cost efficiency while Gross Rating Points (GRPs) and Impressions can be used to measure the performance of the plan. Impact and efficiency are important in decision-making when considering suitable media mix and vehicles.

There is no perfect plan but a good performance plan in the world, there is always space to improve the plan in several areas such as product improvement, distribution channel, trends, and Pricing strategy. In the Optoma campaign, the packaging of its product might be changed which has been mentioned by one of the influences. The pricing strategy can also be considered such as offering different discounts to first-timer buyers and returned customers, it would help increase the market share of Optoma and increase its brand awareness.

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Finally, Optoma can keep track of the market and the media performance when actually running the campaign to ensure the media execute as scheduled.

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