Blog Prologue: This was written July 8th, pardon for the time delay! I’m a barista at Starbucks and things have been pretty busy lately, scheduling-wise. It’s been a fortunate enough blessing for my bank account, but it’s taken some time/energy from more mentally stimulating activities like blogging. Onward!
It’s Mindshare Day for our Media Planning & Buying Discipline Training!! First up, we have Ikechi Okoronkwo, Alyssa Colon and Alex He. So excited!
They work with a ton of brands that I’m big fans of. Bethesda Game Studios, Nike, TJ Maxx, General Mills, the list goes on! Did I mention how excited I was when they selected me to be a media buying & planning intern in their Chicago office this summer?!
They had so much good advice. Ikechi went into the understandings of media executions, audience structures, and some overall connections we need to make within planning. There’s so much that goes into the results with the different actions taken, so I’m starting to see more how much analytics is pivotal with planning. It’s all “why, why, why?”
Ikechi also mentioned that it’s about data translation. I’ve had some experience with this in my social media analytics class this past Spring 2020 where we looked into our client’s (Texas State PACE Center) Twitter & Instagram analytics and create easy-to-read social media analytics reports. I’m thankful I’ve still retained a good amount of information and notes on the subject, so it’s good to keep in mind.
Alyssa spoke next about the roles an analyst would have in their agency. It goes into Customer Strategy, Technology, Analytics, etc. They use tools like Azure, Sequel, etc. for data gathering which comes from their technology department. It lead into the different kinds of data extracted from all of their sources available to them. All of it is fruitless, however, unless the data actually is applicable to their business and helps drive them to make a decision. I’m loving all of these little phrases that just seem to make sense as I hear them!
They have an easy system to help a business understand goals using Sample Learning Agendas. They are straightforward questions you can ask a client to create their KPIs and set out measurable goals. The frameworks they presented were well put together in structure and strategy. It’s broken down into data findings, hypotheses, observations, and test/action trial.
Alex presented next and introduced Modeling at Mindshare. Market Mix Modeling was brought up, which measures the performance of media channels and provides actionable insights to drive any success KPI that is important to a business’s objectives. It helps answer questions they might have, like what the return is on their current media investments, optimization, efficiency, and any changes that might need to be made. Basically, it locates media spending waste and helps allocate it to a more optimized direction. I feel like this is another pull of direction for me, because hearing and seeing some of these buzzwords is kind of exciting to me.
Then he showed a really scary formula called an econometric model, which simplifies the complex. It didn’t look very simplified. Thankfully, he mentioned that this was all mostly to get us used to some of the jargon in media and to be able to pick the right weapon for the right fight when we enter our media professions. Whew!
Thank you for reading! #MAIPithappen
Personally: I made a really awesome vegan Oreo (not actually Oreos, but K-Toos that are actually vegan) cheesecake. That is all. Watch it’s non-dairy magnificence below.