Behavioural Economics, Superbowl Ads, and the Entertainment Industry #MRIA15 #MRX

MRIA15,MRIA2015Live blogged from the 2015 MRIA National Conference in Toronto. Any errors or bad jokes are my own.

Behavioural Economics in the Real World
Kelly Peters, BEWorks

  • We have to divide our attention – bounded attention
  • People say they will do specific things but they often don’t end up doing it
  • In one study, 100% of people said they would increase their retirement savings but only 14% of people had done something with one  year. And a financial incentive doesn’t necessarily help regardless of the amount. Fear incentives can often backfire.
  • Social proof DOES help (your friends are doing it) but story telling worked the best.
  • We don’t have unlimited time to pay full attention to every excel sheet to make decisions. We have to use heuristics. We use shortcuts as a guide to help us act predicable irrational. Shortcuts are sub-optimal.
  • Awareness is bounded, errors in perceptions, evaluation errors, failures to act.
  • Organ donation participation rates increased more than five times when agreement changed from opt-in to opt-out.  Picking up a pen is a tiny gesture. An employer used this tiny gesture to get people to enroll in a retirement program. Enrollment changed from about 4% to 80%.
  • “Tomorrow self” – the person who will exercise tomorrow and eat apples tomorrow.
  • Wifi donation clock – if you hit the snooze button, a donation is automatically made to a charity [THAT IS AWESOME!!!!]

Launching into New Entertainment Territory
Tara Murphy, Cineplex and Carla Flamer, Ipsos Reid

  • Cineplex needed to respond to the dying movie theatre problem
  • Ran surveys with imagery and word descriptions
  • Tested many concepts – great food and drinks, get your game on, etc
  • Needed to measure intent to seek information, likelihood to visit, liking, unique, believability; market success potential; diagnostics like like/dislike, reason to visit, heat maps, buzz power (build through word of mouth)
  • What were the emotions from the people most likely to visit
  • Conducted discrete choice scenario testing – Clients can rarely offer all the top choices at the prices consumers want. Tested more realistic combinations. Examined percentage of people who would actually like each option. Found 3 or 4 more realistic scenarios.
  • The rec room” will now be built in Canada, starting in Edmonton, and then Toronto.

Superbowl Ads: Are they worth it?
Steve Mossop, President of Insights West

  • Asking the right question is critical. New coke was the biggest disaster in the history of research. He worked on this project as a newbie. But they were asking the wrong questions. They were asking about taste and they didn’t measure branding or what “coke” does for you as a brand. He had a full closet of pop after this project was done. 🙂
  • 115 ads take up 1.15 hours of game time. 521 million dollars of ad spend. Most people only bought 1 single spot. 61 brands across 31 categories.
  • Measured canada vs usa.  7 minute survey, online, 650 US, 1200 Western Canada.
  • Top rated spot was the dog following the horse onto the truck, and then gets lost. Budweiser commercial.

  • 68% of people said they saw the ad after two airings. Awareness numbers were often in 50% even though some ads were only seen once.
  • Why did the top ad do so well? Enjoyable, keeping attention, like the music, clear branding, different ad, understand the ad
  • Still frame assessment evaluates pieces of ads driving success or failure of the ads
  • Sad puppies in the rain, horse rescuers, man/dog kiss drive emotional responses
  • Top ads to drive ROI, awareness and diagnostics are through the roof with only one or two showings. Perhaps not effective for all ads but it is for the top ads.
  • Growing trend on social sharability.
  • Top ads are enjoyable, relevant, convincing, believable, and understandable. But they make people interested, curious, happy, excited, and surprised.
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