2. MAGAZINES MAKE A DIFFERENCE

3. KEY TAKE-OUTS But salience alone isn’t enough
SALIENCE IS UNDENIABLE IMPORTANT
Meaningful difference is a brand equity measurement connected to long term financial brand health
It super charges your brand growth
Connected to repeat purchase and loyalty
It’s effective at achieving a price premium
MEANINGFUL DIFFERENCE IS A POWERFUL LONG TERM BRAND DRIVER
Magazines deliver salience, meaningful and difference combined in the most cost effective way
MAGAZINE MEDIA IS THE MOST COST EFFICIENT CHANNEL AT DELIVERING MDI (Meaningful Different Impact)
As a targeted and often premium channel with a diverse creative canvas magazine media achieves uniqueness
Editors specialist knowledge and trusted voice on trends means successful delivery of dynamism
MAGAZINES ARE PARTICULARLY STRONG AT DRIVING BRAND DIFFERENCE

4. Meaningful Salience Difference
VALUABLE BRANDS HAVE FIVE KEY PROPERTIES
They are top of mind to consumers
Consumers feel an affinity for them
Consumers feel they will perform well and meet their needs
They are seen as different or unique in the category
They are dynamic and set category trends
Meaningful
Salience
Difference
Millward Brown has run thousands of brand equity projects, and a multitude of R&D studies to establish to how brand perceptions translate into sales. This demonstrates that successful brands have 5 key characteristics:
They come to mind easily at relevant moments (salience)
Consumers feel positively about them (affinity)
People feel they meet their needs
They are perceived to offer something unique
Consumers think they are dynamic and leading progress in their category.
These five attributes can be simplified in Millward Brown’s Equity framework into 3 dimensions - Salience, Meaningful, and Different. The strongest brands have all three properties, not just salience, and by measuring all three dimensions we can predict critical business outcomes, such as brand share, brand premium, and future brand growth or decline.
Millward Brown Meaningfully Different Framework 2013

5. THE FRAMEWORK CAN PREDICT CRITICAL BEHAVIOURAL OUTCOMES LINKED TO ££££’s
Potential
Meaningful
Difference
Salience
A summary of predisposition which predicts the probability that brands will grow their value share
Premium
A summary of willingness to pay more for a brand, which correlates strongly with the price-premium brands can charge
A summary of brand strength which relates strongly to market share
Millward Brown has run thousands of brand equity projects, and a multitude of R&D studies to establish to how brand perceptions translate into sales.
Millward Brown Meaningfully Different Framework 2013

6. RELEVANT TO PLANNING AS THEY TRANSLATE INTO MEDIA BRIEF OBJECTIVES
Meaningful
Difference
Salience
Prominence, awareness, getting noticed, cut though
Brand love, relevancy, new product development, change perceptions
Brand story, repositioning, stand out, leadership credentials

7. A ‘MEANINGLESS’ BRAND THAT INCREASES SALIENCY WILL GROW
A new analysis based on a comparison of data for 2,301 brands measured in BrandZ over a five year time frame finds that brands that are more meaningfully different than their size alone predicts grow faster when salience increases than those that are not.
Methodological detail if you need it
Before analysis the data set was cleaned to ensure comparability across time. The dependent variable was our Consumer Loyalty score, a measure highly predictive of behavioral market share. A comparison of cases where independent measures of market share could be obtained found a good correlation between the change reported by BrandZ and the independent source.
Only 1 in 5 brands grew their market share significantly across the course of the five years (change is defined by a growth/decline of 4% points). In 4 out of 5 cases the growth was accompanied by an increase in Salience. However, once we allow for the influence of brand size it becomes evident that brands with “excess” meaningful difference in 2007/8 grew faster when salience increased. More meaningfully different brands grew projected market share twice as fast as the less meaningfully different brands. This in spite of the fact that the more meaningfully different brands were perceived to be 6% more expensive than average and the less meaningfully different brands 11% cheaper than average.
An important side note is that this analysis suggests it is not easy to grow salience for big, well-known brands. The 1 in 5 brands that did not grow Salience were already more salient than average in 2007/8 and instead appear to have grown by improving meaning, difference or both. It is noteworthy, however, that these brand grew on average half as well as those that did improve Salience. This tends to corroborate the finding from How Brands Grow that loyalty strategies are generally less effective.
Source: 2012/3 compared to 2007/8 for 2,301 brands measured in BrandZ

8. BUT DRIVING SALIENCY FOR A MEANINGFULLY DIFFERENT BRAND SUPERCHARGES YOUR GROWTH
They have the foundation and competitive edge to maximise growth
Source: 2012/3 compared to 2007/8 for 2,301 brands measured in BrandZ

9. MEANINGFUL DIFFERENCE IS LINKED TO REPEAT PURCHASE
Brand buyers who go on to repeat purchase are more likely to perceive brands as meaningful and different, but salience makes little difference
MEANINGFUL DIFFERENCE IS LINKED TO REPEAT PURCHASE
Source: Combined MB & Worldpanel study, actual purchase behaviour and attitudinal data

10. SALIENCE FAILS TO PREDICT PRICE PREMIUM
However, now let’s look at the same set of brands but compare the share of salience to how much was paid for the brand on average. The price data has been indexed relative to the category average. So 1.00 is the average price for the category.
As you can see, there is no relationship between the share of salience and the price index. Brands can have the same salience but command hugely different price points.
So what drives the ability of a brand to command a price premium?
Source: PowerPurchase studies, 42 different brands

11. BUT MEANINGFUL DIFFERENCE DOES…
Average Price Paid
Source: PowerPurchase studies, 42 different brands

12. Media ranking by metric (top 3 shown)
MAGAZINES UNIQUELY ARE A TOP 3 PERFORMER ACROSS ALL FIVE OF THE KEY METRICS
Media ranking by metric (top 3 shown)
Online Display
Magazines TV
Newspapers
Online Video
Radio
OOH
Cinema
Salient 1 2 3
Salience
Meets Needs
Brand affinity 3 2 1
Meaningful 3 2 1
Unique
Sets Trends
Difference 2 3 1
It won’t have escaped your notice that Magazine advertising has appeared on a lot of the last few charts. And it’s clear from the analysis that we have done that advertising there performs consistently in promoting a side range of positive brand perceptions, among those reached. Magazines are in the top 3 in promoting all 5 of the characteristics of valuable brands. 1 2 3
Source: Magnetic/Millward Brown 2015
See additional slides for samples of individual metrics

13. WE REFER TO THIS AS MEANINGFULLY DIFFERENT IMPACT
A MEANINGFULLY DIFFERENT IMPACT
affinity
unique
WE CREATED A SINGLE METRIC WHICH AGGREGATES CHANNEL PERFORMANCE ACROSS ALL 5 METRICS.
WE REFER TO THIS AS MEANINGFULLY DIFFERENT IMPACT
top of mind
meet their needs
dynamic
We wanted to turn this into a cost efficiency metric so we created a single metric - the meaningfully different impact that aggregates a channels performs across all 5 metrics and used this to assess the financial value we deliver for brands

14. +1.77% +1.59% MAGAZINES NO 1 AT DELIVERING MDI FOR BRANDS +0.89%
Magazines and Cinema excel at helping brands deliver a meaningfully different impact for consumers TV
Cinema
+1.77%
+0.89% 2%
% Uplift in metric post exposure
+1.59%
Magazines
On this basis, magazines came out top, meaning that among people reached by that media, we saw the highest average uplift in brand equity attributable to media exposure. A 1.77% uplift may not sound like a lot, but it is an average across a number of dimensions, and when translated into share shifts would mean a lot of money for brands, For comparison, TV came in in third place at at less than 1%. This clearly doesn’t suggest magazines are the only brand building channel, but it does show it is a consistently strong performing part of the mix.
Up to this point, all the analysis has taken reach out of the equation, which is why, for instance the large cinema effects don’t translate into huge shifts across whole populations. We have bene specifically looking at effects among those reach by each media. However, we did also look at the picture when we did allow for reach - -ie the average effects attributable to each media, across the whole target population.
Source: Magnetic/Millward Brown 2015
MDI Measure: Magazines n=22, TV = 83, Newspapers n=32, Online Display n=68, Radio n=29, OOH n=59, Cinema n=28, Online video n=9

15. MAGAZINES DELIVER THE BIGGEST MDI UPLIFT FOR £500K INVESTMENT
0.90%
0.31%
0.15%
0.19%
0.35%
0.13%
0.13%
Magazines deliver
c.1% MDI uplift for a £500k investment
Magazines TV
Newspapers
Online Display
Radio
OOH
Cinema
Source: Magnetic/Millward Brown 2015
MDI Measure: Magazines n=22, TV = 83, Newspapers n=32, Online Display n=68, Radio n=29, OOH n=59, Cinema n=28, Online video n=9 *Low base size

16. DIFFERENTIATION
To achieve a level of separation from other brands in the category due to sense of uniqueness or dynamism
Focusing specifically on our area of strength we’d like to unpick this and show you how we deliver this for brands

17. TARGETED, PREMIUM CHANNELS CONTRIBUTE TO UNIQUENESS
Magazine media has a diverse creative canvas that allows successful delivery of differentiation
3.6%
Cinema
% Uplift in metric post exposure
Magazines
+3.50%
Radio
+2.49%
+0.71%
To achieve a sense of uniqueness is best achieved by channels which are targeted in their nature so the product of service feels like something that is aimed at you, however uniqueness also needs to feel special and premium so the message is best conveyed in channels with high creative values and a diverse creative canvas
Magazines – the information/detail provided in magazine ads might give brands more space to express their difference. For example mascara brands advertising 8x longer lashes etc. This messaging reaching a relevant audience, often with editorial and reviews proving or disproving the product could be amplifying this.
Magnetic are building case studies to supplement this but you may want to add your own here

18. +2.86% +1.45% +0.83% SPECIALIST CHANNELS ACHIEVE DYNAMISM
Specialist knowledge of magazine editors and their trusted voice on next new trend means they successfully deliver differentiation
3.6%
Magazines
% Uplift in metric post exposure
Radio
+2.86%
Cinema
+1.45%
+0.83%
Magazine editors and writers offer unrivalled expertise and specialist knowledge about their sectors and they are skilled and crafted writers in their subject areas, so people trust their point of view and they are able to curate / drive conversations about what’s next/ what’s a hot topic.
While belonging and trust might be underlying factors it could also be down to the new news factor.  Often the first time we hear about a new products is through an ad or a review in a magazine, I’m thinking mainly about the health & beauty category but it could also work for food or tech.
Magnetic are building case studies to supplement this but you may want to add your own here

19. CONCLUSIONS > SALIENCE IS UNDENIABLY IMPORTANT AS A GROWTH LEVER
> MEANINGFUL DIFFERENCE IS A POWERFUL
LONG-TERM BRAND DRIVER
> MAGAZINE MEDIA IS A CONSISTENT ALL ROUNDER IN
DELIVERING BRAND EQUITY
> MAGAZINES ARE THE MOST COST-EFFICIENT CHANNEL IN THE
MIX, AND PARTICULARLY STRONG AT DRIVING
DIFFERENCE FOR A BRAND
So – in conclusion…While marketing is changing, and marketing models are shifting, some truisms remain. Brand salience is a critical growth lever, but building a brand that is meaningfully different is also a critical goal, which should be a key brand KPI alongside salience, when planning and assessing campaign effectiveness. Different media channels have different strengths in influencing brand perceptions – and while a mix is always the best route for a campaign, magazine advertising is a consistent all-rounder. Magazines are a cost-effective way of promoting brand equity, and should be considered especially when brands are seeking to promote differentiation and dynamism. While digital channels may be instinctively considered more dynamic by the marketing industry, magazines’ impact on the dynamism of the brands that advertise in them belies that view.

20. MAKE DIFFERENTIATION A KPI

21. Appendix – notes on the methodology
all three of these pieces of information for the same individual respondent that they have been able to understand how intuitive brand responses (or system 1 thinking) influence reflective thought about the brands (system 2) and how these ultimately combine to explain purchase behaviour.
To read full paper about the Meaningfully Different Framework, click here
Channel Analysis
In order to assess the contribution that different channels make within the context of the Meaningfully Different framework, we analysed 88 FMCG campaigns from the Millward Brown CrossMedia database.
Each channel’s performance was measured against the 5 key MDF metrics on an impact per person basis. Sample sizes for each channel are as follows:
TV n=83, Newspapers n=32, Online Display n=68, Radio n=29, OOH n=59, Cinema n=28, Online video n=9, Magazines n=22.
Cost efficiency calculations included reach of each channel, to ensure cost data reflected the contribution each channel made at campaign level.
As the total number of campaigns in which online video was measured in less than 10 campaigns, the base was too small to include the channel in the final cost analysis.
Who are Millward Brown
Millward Brown is part of Kantar, WPPs data investment division. They have access to a large network of advertising, research and media agency experts around the world which strengthens their ability to help clients thrive and grow. They work with 90% of the world leading brands. They are industry leaders and innovators with over 40 years of experience in advertising, media and brand equity research.
Meaningful Different Framework
The analysis of historical Millward Brown (MB) data and a review of academic understanding of consumer decision making, suggested the hypothesis that Meaning, Difference and Salience are important influences on consumer purchase behaviour.
To test this hypothesis thoroughly, MB setup a study across five countries (U.S., UK, France, India and Mexico), covering 12 categories, over 400 brands and more than 8,000 consumers. Furthermore, it was the first study to put together the following three elements on such a scale:
Implicit measures of the fast, automatic, emotional, instinctive and subconscious thought process and heuristics, such as intuitive emotion – system 1.
Survey-based measures of brand associations and equity – a combination of systems 1 and 2.
Actual purchase data recorded through SMS diary and shopper panel – behaviour. It is only by holding.