Picked up by 27 different media channels across radio, tv, press and online, the impact of this story has reverberated across the Trinidad & Tobago market. A very successful media launch which has driven great awareness of this new fiscal product. A perfect way to highlight the power of earned media and why marketers need to have their fingers on the pulse of any story that impacts their brand or product.
The waves from this launch have swept out across the news and commentary sections of the media landscape in Trinidad & Tobago. When we saw the news break we began to track the impact that this launch was having using our unique Media Monitoring tools. Tools that allow us to gather and analyze everything said and written in broadcast, print and online across the entirety of the media landscape for Trinidad & Tobago. We used our tracking software to comprehensively scan the continuous stream of media content we are monitoring. This content is coming in 24 hours a day 7 days a week, allowing us to pick up all the ripples caused by this story.
Our tools began analyzing all 51 media channels we monitor in the Trinidad & Tobago market as well as scanning the internet for mentions of this breaking story. Over 5 days, the 5 that we are reporting on in this write up, we picked up 82 different ‘stories’ about the new bond product. These stories were spread across 27 different media channels. As a way to contextualize the impact we were seeing our system automatically creates an ad spend equivalency figure to represent the time and space occupied by these stories in the media. Using open media rates and a weighted average that takes into account factors like the tone/sentiment of the story and the dominance of the brand. We then generate a dollar value of what this advertising space would have cost us if we had to purchase it.
This PR launch over takes big spending brands over the same period.
Taking advantage of our Advertising Monitoring tools that are tracking every single paid ad placed in over 182 media outlets across the Caribbean, including all 51 outlets in the Trinidad & Tobago market. We compared the impact of the National Investment Fund launch with what the top advertising brands ‘spent’ over the same 5-day period. For our estimated advertising spend we use the open rates for media houses as we are not privy to client rates and because it allows for a better estimate of impact If all ads are given the same value:
The impact of this launch story compares favorably to the combined totals of the #1 brands across traditional media. Is this comparing apples to apples? Not quite but, the comparison is still very valid as a way of emphasizing the impact that a well-covered media launch can create.
Earned Media is a term used to describe coverage that is sought by marketers but that is not bought as advertising. Earned media is what Corporate Communications and Public Relations Professionals are always gauging and recording to help them track the impact their brands are having. Tracking earned media has traditionally been a thankless job, often involving assigning people to manually listen, watch and read as much of the content coming out as they can in an effort to gain as complete a picture as possible. At Media InSite we have massively improved this process, We monitor more Caribbean radio and TV content than anyone, anywhere, recording and analysing 168 broadcast stations continuously.
Proprietary software allows us to search through thousands of hours of programming every day to find mentions of brands, competitors, and topics of interest. Then our staff of trained journalists expertly curate found content and write accurate, succinct summaries of detected mentions. We then serve this curated content up to our clients where they can listen, watch and read all the mentions we have captured. Saving countless hours of repetitive manual effort while creating a complete picture of what is happening across your market. We also archive all content creating a permanent library for each of our clients of their mentions that they can refer whenever needed.
If you would like to get more information on Media InSite’s Media Monitoring capabilities or learn more about how we can help you stay on top of the coverage you are interested in, in your market or across the Caribbean.
Sales and Marketing
Media InSite Ltd.