3 YEAR MARKETING & COMMUNICATION STRATEGY HARRIET EXTON
N0733000
WORDS: 3,945
CONTENTS
5 INTRODUCTION
6 METHODOLOGY
WHERE ARE WE NOW? 11 ABOUT TATLER 12 BRAND ARCHITECTURE 14 BRAND ESSENCE 17 THE 4 C’S 21 MARKET OVERVIEW 24 PESTLE ANALYSIS 31 CORE COMPETENCIES 32 POSITIONING MAP 38 SWOT 41 ISSUES AND CHALLENGES 42 SURVEY RESULTS 45 SOCIAL AUDIT 46 BRAND FOOTPRINT 48 CUSTOMER PROFILE 51 CONSUMER SEGMENTATION 55 MACRO TRENDS WHERE DO WE WANT TO BE? 60 BRAND VISION 63 BRAND MISSION 64 SMART OBJECTIVES 67 LONG-TERM GOALS 68 3 YEAR MARKETING STRATEGY 70 YEAR 1 72 YEAR 2 74 YEAR 3
HOW WILL WE GET THERE? 79 YEAR 1 ACTION & COMMUNICATION PLAN 80 PHASE 1 82 PHASE 2 84 PHASE 3 86 B2B PLAN 89 BUDGET PLAN 90 MEASUREMENT OF SUCCESS 93 CONCLUSION
INTRODUCTION The focus of this report is to create a three-year strategic marketing plan which will identify, develop and document a plan for the magazine brand Tatler. This will also go in conjunction with a one-year tactical communication plan. With these two plans it will help to leverage the existing brand authenticity and help to increase brand awareness to ensure they survive the rise with the digital world.
5
METHODOLOGY To undertake this report there has been a wide range of primary and secondary research involved to evaluate key topics for their aims and objectives.
PRIMARY RESEARCH Quantitative primary research was conducted via a survey which was also strengthened with a 4 week industry placement with Tatler, to further support the findings.
SECONDARY RESEARCH This consisted of multiple reliable sources such as articles, social media, databases including Mintel and LS:N Global, thus providing a contextualised understanding of the current magazine market and trends which are impacting its growth. Tatler’s website was also analysed to get a greater understanding of their digital presence as well as their competitors to get insight into where Tatler can improve or potentially launch into.
6
WHERE ARE
8
WE NOW?
9
ABOUT TATLER Tatler was first published in 1709; now more than 300 years later it is published both in print and digitally. A website focus on bystander with parties and people, a dedicated social following as well as a series of outstanding events. Tatler has a powerful mix of glamour, fashion, society, features and fun; making the brand unique to its competitors.
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BRAND
12
ARCHITECTURE
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BRAND ESSENCE PERSONALITY
BENEFITS
GLAMOUROUS ELEGANT LUXURIOUS INTELLIGENT POWERFUL
HIGH VALUE HIGH QUALITY MATURE
ATTRIBUTES
VALUE PROPOSITIONS
SOCIAL TRUSTWORTHY DIVERSE
- GLAMOUROUSLY LIFESTYLE LED - RELATABLE FOR THE WEALTHY BRITISH READER
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THE 4 C’S CONSUMER Tatler have established their consumer as a female with the average age between 40-50, from high earning homes and mainly from the South East of England and London, who are searching for premium and trustworthy reading material. Tatler has a wide brand portfolio ranging from their monthly edition containing the wealth of British culture to jewellery and cosmetics. By being consistent with their editorials and subject matters they are actively ensuring that they are meeting their readers needs.
COST Tatlers cover price is £ 4.90 per issue which is at the top end of the price for a single issue; it can also be purchased for £ 29 via a subscription service where you receive 12 months worth of issues (Whsmith, 2019). This allows Tatler’s consumers to have access to the newest issue of the magazine without visiting the shop every month.
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CONVENIENCE Tatler is a print magazine which is sold nationwide in all retailers, they also have their website tatler.com and their social platforms. By having print and online access this allows their readers to access the magazine over a range of platforms.
COMMUNICATION Their marketing activity is quite limited, with few traditional types of media used, their use of digital media is considerably higher including print advertising in competitors magazines, social media affiliates and collaborations.
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MARKET OVERVIEW 21
“
PRINT CIRCULATION WAS SET TO DROP BY 4% IN 2018 TO A MARKET VOLUME OF 852 MILLION, AND IS FORECAST TO HAVE A 15% DECLINE BETWEEN 2018-2023.
”
(Mintel, 2018)
1200
FORECAST VOLUME OF UK PRINT MAGAZINE CIRCULATION
MARKET VOLUME
1100 1000 900
800 700
600 500
400 300
0 2013 2014 2015
ACTUAL
2016 2017 2018
EST.
2019
YEAR 22
2020
2021 2022 2023
FORECAST
The magazine market, particularly print is continuing to decline at a steady rate, however there isn’t any signs of rapid acceleration or deceleration. Despite the market declining, print remains to be the most popular format for magazines across all genres. For the Women’s Glossy/ Fashion/Beauty Monthly Magazine genre, 12% read them via a printed issue and only 6% via a digital issue and 4% on a website/app (Mintel, 2018). This supports the findings that print is still the consumers number one option. From primary research, this also became evident, with 75% favouring to interact with a printed magazine, and only 9% favouring online interaction.
With the digital takeover looming over the print industry, one fifth of those who read magazines digitally do so via a subscription service offering a range of media content, such as magazines, e-books and audiobooks. This demonstrates that offering multiple services will increase consumer use and provide consumers with more of a reason to subscribe as they are getting more for their money. As social media is an essential medium, publishers need to diversify their focus on various platforms to ensure they are maximising their traffic and engagement. Mintel also concluded that 43% of people want magazines to incorporate videos or audio alongside their articles, insinuating that YouTube or a podcast would be a good social means for them to help attract readers. (Mintel, 2018)
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PESTLE ANALYSIS
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P
POLITICAL
E
POLITICAL UNCERTAINTY
‘If advertisers suffer, one of the first things many will do, is cut back on spending which will impact the industry” (FIPP, 2019) This will impact Tatler, as they rely heavily on brand deals and partnerships which bring in a large amount of income via their media rates. The associations that Tatler have and the products and brands they endorse are vital in maintaining their market position; therefore if their current and potential brand advertisers are impacted by Brexit this will have an indirect effect on Tatler.
POSITIVITY MOVING FORWARD
Despite real incomes declining throughout 2017, ‘consumer expenditure in the UK increased 3% to £ 1.25 trillion in 2017’ (Mintel, 2018), whilst ‘32% say they’re confident about the year ahead and 49% say they should be OK financially’. (Mintel, 2018).
ECONOMY
With a flourishing consumer expenditure and optimism for the future, this allows Tatler to continue pursuing brand deals and provides them with security that their readers will have the disposable income to spend on luxury.
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S SOCIAL
T
MID-LIFERS Those that are within this age group in the UK are at the height of their earning power. UK inhabitants aged between 40-49 have the highest average gross income of all other age groups (Euromonitor, 2018) allowing them to have a higher percentage of their earnings as disposable. Tatler’s readers fall into this ‘mid-lifers’ demographic, therefore providing evidence that their readers are at their highest potential of earning, and are willing to spend their money on luxuries that they want.
INTERACTIVE EXPERIENCE
Although print is still popular, consumers want instant gratification and convenience and like to have an interactive experience with 43% of people wanting magazines to incorporate videos or audio alongside their articles (Mintel, 2018). As well as a multiple subscription service being the go-to for digital magazines.
TECHNOLOGICAL
For Tatler this suggests that although their print magazines are continuing to be successful, they could benefit from incorporating a video series alongside their editorials or introduce a weekly/fortnightly podcast for commuters to listen to. This is supported by an increase of 10.2% of 45-54 year olds listening to podcasts weekly (Ofcom, 2018).
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L LEGAL
E
GDPR
Brands that are not compliant with GDPR can face severe fines, of £ 20 million, or 4% of the company’s turnover whichever is the higher value (ITGovernance, 2018). If Tatler do not adhere to the GDPR law, it can be highly damaging to the brand’s financial health and face backlash from their customers which can cause serious damage to their existing brand image.
SUSTAINABILITY The world is becoming more aware and conscious of how much we waste and the environmental factors it is creating. Paper accounts for 25% of landfill waste which is a considerable amount, which makes it around the 3rd largest industrial polluter of air, water and soil. (The World Counts, 2014).
ENVIRONMENTAL
As Tatler is part of the publishing industry, this industry is a large contributor to the waste. Therefore they need to be making a concerted effort in reducing this by recycling all paper. By recycling at least 1 tonne of paper it saves around 682.5 gallons of oil , 26, 500 litres of water and 17 trees (The World Counts, 2014).
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CORE COMPETENCIES Tatler as a brand is glamorous, elegant, luxurious, intelligent, powerful and a socially high-end magazine. The associations that Tatler have and the products and brand they endorse are vital in maintaining their market position. They have covered the highs and lows of British society over the past three centuries and aim to access the global market, including glamourous fashion and lifestyle. Appealing to women who live a luxurious life and enjoy premium, high quality, trusted reading content.
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POSITIONING MAP
The positioning map axis were chosen due to their relevance to Tatler as providing the public insights into British society and culture is essential to them as it is their niche within this popular category. Tatler have been placed in the mature consumer and culture and people based part of the map with its closest competitors being Grazia, Vanity Fair and Marie Claire who are attracting similar consumer bases and have similar writing subjects. This area of the market isn’t overly saturated in comparison to the upper end of the map appealing to a younger consumer who is interested solely in fashion. From analysing the map, it wouldn’t be a viable strategy for Tatler to alter their position on the map as the risks are too high and they would be distancing themselves from what they currently stand for.
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Grazia is a key competitor for Tatler as their reader characteristics and demographics are very similar. They range from 25-45 year old women with an AB social hierarchy. Grazia has a variety of editorials ranging from fashion features, latest news, beauty, feature stories as well as latest culture information. This is very similar to Tatler’s subject range but a higher focus on celebrity stories compared to Tatler. Grazia has a large physical following as well as Grazia online which is catering to their consumers who want to read something on the go without extra baggage.
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Vanity Fair is a magazine featuring heavily on gripping narratives, featuring Hollywood glamour, royal-watch, guilty pleasures, current affairs as well as domestic policies within the US and art and entertainment. This magazine is editorial heavy and not so much a light read such as Tatler, but covers similar topics. The Vanity Fair average consumer is a bit younger than Tatler at 38 and a lower percentage of AB social class. Vanity Fair has a considerably higher readership and brand footprint with 17 million readers per month across their 4 platforms.
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This magazine is primarily a fashion publication but targets women that have a point of view and an opinion. Their readership is approximately 9 million readers with a social media and digital following of 6 million. Their magazine features a range of thought provoking essays, news coverages, fashion and beauty. Marie Claire is a monthly publication but provides 24/7 updates on their online and social media platforms.
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s
1. Tatler is a well established brand, existing for more than 300 years. 2. It is guaranteed that the information that is found in Tatler’s magazine is underpinned by the honesty and integrity associated with the brand. 3. Prestigious brand partnerships. 4. 1.2 million readers per month. 5. The brand has a mature and wealthy following, therefore creates content which is meaningful to them. 6. High Brand Awareness with 79% of respondents being aware of the magazine. 7. Range of Supplement magazines available alongside the monthly issues.
w
1. Appealing to quite a small demographic of the British population. 2. Lack of digital innovation 3. Considerably small following on social platforms. 4. Lack of awareness regarding what Tatler writes about. 5. Reliant on a loyal customer base to purchase each month.
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o
1. Digital development into interactive content and providing a service which is convenient for their readers, such as podcasts or online magazine subscriptions. 2. Broaden their brand architecture into new departments. 3. Increased presence on social platforms.
T
1. The magazine market is quite volatile and has an uncertain future. 2. The brand deals and editorials they create are heavily focused on a wealthy reader which limits their reach and footprint. 3. Saturated market with all monthly magazines including similar editorial content. 4. Growth of sustainability and people being more mindful and conscious with their waste, therefore some people opting out of purchasing magazines which are a huge amount of paper.
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ISSUES AND CHALLENGES As summarised within the SWOT analysis, the most prominent issues and challenges that Tatler face and need to overcome are their lack of digital innovation which may prevent them from continuing their long-lasting success. The UK magazine market is already quite unstable and saturated, therefore if Tatler embrace the digital and social growth and provide their readers with an easily accessible and convenient service they will overcome this challenge.
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BRAND AWARENESS
BRAND PERCEPTIONS
68%
of survey respondents say that Tatler is associated with the word wealth, 63% say fashion and 27% with British Culture. This demonstrates that they are successfully translating their core values into the magazines they produce. (see Appendix Q8)
MAGAZINE INTERACTIONS
75%
of survey respondents prefer to interact with a magazine via print. This demonstrates that although the print industry is slowing down, it is still consumers favourite means of reading a magazine, with only 9% interacting digitally. (see Appendix Q6)
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SURVEY RESULTS
SURVEY RESULTS
79%
of survey respondents were aware of Tater’s existence, indicating a high brand awareness in the UK. (see Appendix Q7)
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SOCIAL AUDIT 372k
172k 72.6k
14k
4.4k
“SWIPE UP TO SEE MORE�
Tatler are capitalising on the power of Instagram stories, an average of 2-5% of impressions lead to story swipe-ups which then lead to website sign-ups; making Instagram Stories a perfect audience acquisition tool (DigiDay, 2018). With the use of stories, this gives Tatler the opportunity to connect closer with their readers by providing a digital storytelling service which is easy for their readers to digest.
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FOOTPRINT
79,092
1.2m
164k
CIRCULATION
READERS P/M
READERSHIP
46
48
When you think of a Tatler consumer, there is an array of consumers which fit within the category. Working Professionals, Doctors, Surgeons, Business Owners, CEO’s, Directors or retired. That being said, Tatler have a core consumer group defined by age and demographic.
The average age of the Tatler reader is 45 years old, with 60% of readers living in London or the South East their average HHI is ÂŁ 247,168 therefore suggesting that Tatler readers live in luxury homes and purchase high-end clothing, jewellery, skincare etc. 51% of readers are within the AB social bracket, signifying that the chief income earner is either a high managerial, administrative or professional as well as an intermediate managerial, administrative or professional position. Their disposable income will be considerably higher, deducing that they have a greater amount of money to spend. (Tatler, 2019)
This is evidence to support that Tatler are offering the relevant content for their consumers as they like premium and prestige brands which Tatler creates irreplaceable relationships with.
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CONSUMER SEGMENTATION DEMOGRAPHIC Tatler’s target age demographic is on average 45, demonstrating that they are appealing to a maturer reader. People from all genders, races, religions, ethnicities are welcome to find themselves encapsulated in this magazine featuring trusted and premium brands and writing.
GEOGRAPHIC Tatler is primarily sold in London and the South East of the UK, with 60% of the readers coming from these areas, demonstrating that they have a higher income and are more attracted to the wealth of content Tatler provides.
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PSYCHOGRAPHIC Tatler understand their consumers needs; magazines provide a sense of relaxation as it allows the reader to flick through pictures that are associated to a subject they’re interested in. It is also guaranteed that the information that you will find in Tatler’s magazine is underpinned by the honesty and integrity associated with the Tatler brand. Compared with that of the digital world where it can quite often be an unsafe place and without guarantees or regulations.
BEHAVIOURAL Tatler consumers value honesty and trust their content to meet their needs. They are happy to purchase a magazine as they are loyal to the brand and are happy to invest and are aware that the magazines are tailored to a wealthy British consumer.
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MACRO/MICRO TRENDS
1
NICHE MEDIA
2
SUBSCRIPTION
55
SERVICE
NICHE MEDIA This trend is one that is continually growing amongst consumers and businesses. It is defined as taking a “specialised approach to content and media platforms� (Trend Hunter, 2018). These media platforms range from podcasts and online shows such as videos which are the new trend to connect with the consumer.
Podcasts are a niche media which Tatler can venture into. The podcast industry is booming with nearly 6 million adults tuning in every week (Ofcom, 2018). There has been a 58% increase of listeners over 2 years within the UK (Todd, L, 2018), demonstrating that there has been a huge growth and it doesn’t look like it is slowing down. 33% of people aged 35-54 listen to podcasts monthly (Edison Research, 2017), this is an essential figure for Tatler as it demonstrates that their consumers age range is a large percentage of listeners, therefore showing that this trend offers a great opportunity.
IMPACT ON TATLER By creating a podcast this will allow Tatler to have a more personal connection with their readers and providing instant gratification so they can listen to the podcasts on the go without having to carry a magazine with them.
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SUBSCRIPTION SERVICE With consumers favouring convenience the introduction of publishers offering subscription services to their consumers is a great advantage. With 1/5 of people who read magazines digitally doing so via a subscription service which offers more than one media type (Mintel, 2018). According to primary research 14% of people surveyed have a monthly subscription to a magazine and 16% were previously subscribed (see Appendix Q4); this is evidence that a larger majority of people use a subscription service to access their favourite magazines.
IMPACT ON TATLER Tatler currently has a subscription service where you receive 12 issues for ÂŁ 29 which includes the print version as well a downloadable digital edition. However, Apple are launching a new service called News+, which will provide paying consumers with access to 300+ magazines and newspapers, this will provide more of an incentive to consumers as they are receiving over $8000 worth of magazines a month (Independent, 2019).
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WHERE DO WE
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WANT TO BE?
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BRAND VISION For Tatler to access an even wider world and feature arresting and impossibly glamorous fashion and lifestyle; to continue to cover the highs of the British society. (Dennen, R., 2019)
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BRAND MISSION To innovate, create and connect the world’s influential audiences with compelling, high quality editorials, across all platforms particularly video, social and branded content. (Conde Nast, 2019).
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SMART OBJECTIVES
1 3
To increase social media engagement and following across all platforms by 20% within 3 years.
2
To increase the number of readers by 10% within 3 years.
To enhance customer’s convenience amongst existing customers, with the integration of innovative and accessible technologies, increasing website traffic by 7% by 2021.
4
To make Tatler the preferred brand/ magazine for females between the ages of 40-50 within 3 years.
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LONG-TERM GOALS
To achieve their vision, Tatler have set a sound collection of strategic objectives. However, as analysed throughout it is clear that they are failing to spot their potential areas of growth with their current marketing strategy. In order to ensure that Tatler are progressing towards their objectives, the SMART objectives which have been set will provide achievable milestones whilst working towards their long-term goal of creating a lasting relationship with their readers, where they reach to Tatler for their wind-down time. This will be done by actively demonstrating to their readers that they are invested in improving their experience whether that be via print or digitally, making this their main focus throughout the three-year marketing strategy.
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3 YEAR MARKETING STRATEGY
1
DIGITAL INNOVATION
2
BRAND EXPANSION
3
PROMOTION & EXPANSION 68
1
YEAR
DIGITAL INNOVATION
In Year 1, Tatler will improve their services and availability by establishing a podcast platform. They will create a free bi-weekly podcast which will be available via iTunes and their website. The podcast will be called ‘Talks with Tatler’, featuring a variety of celebrities and influencers, employees and partnershipping brands. The podcast will cover a wide range of topics from fashion, current affairs, holidays, royals, jewellery and accessories, award season and more. The aim of the podcast will be to create a connection with their readers and to reach a wider audience. The podcasts will be a perfect addition to Tatlers services as they are becoming increasingly popular amongst the target demographic. Podcasts are perfect for those who commute, live busy lives, interested in a certain topic matter or just enjoy listening to something throughout their day. Creating a podcast will attract current readers, and increase their following with new consumers who may not currently read Tatler.
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It was discovered through primary research that 7% of those survey interact with magazines via podcasts. Although this is a small percentage due to the majority preferring print, this is a perfect opportunity for Tatler to deliver a service on. The aim of the ‘Talks with Tatler’ will be to increase the social media engagement; this in turn will also create a connection between the brand and the consumer. 65% of people that feel emotionally connected to a brand makes them feel like the business care about them (Customer Thermometer, 2019). This provides evidence that by creating a voice behind the print people may feel a closer connection to the brand.
Having established a solid foundation into digital innovation, Tatler can start innovating, as there has been a shift in consumers behaviours with people becoming “mobile obsessed”, therefore meaning companies have to proactively deal with digital disruption (BOF, 2019). The communication plan for this will be detailed in the next section of this report.
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2
YEAR
BRAND EXPANSION
Following from primary research, it became evident that 15% of respondents prefer a magazine surrounding the topic of interiors. As Tatler has a range of supplements ranging from weddings to spa guides, it seemed appropriate that they launch an interiors guide.This is occurring throughout Year 2 and Year 3 to allow more time to perfect the launch of the Interiors Guide which will match Taters demographic as well as their wants and needs.
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The interiors magazine will be a great supplement magazine for Tatler readers as it will provide ideas and inspirations for their home furnishings. It is also guaranteed that the information that the consumers find in Tatler’s magazine is underpinned by the honesty and integrity associated with the Tatler brand. The associations that Tatler have and the products and brands they endorse are vital in maintaining their market position. The supplement will follow these values ensuring it stays aligned with the Tatler brand. Brand success is totally reliant on customer satisfaction. Customers have to trust this premium brand and in turn this will create long-lasting relationships and business partnerships, ensuring its success within its marketplace. The supplement will be a September issue, going on sale in July 2021, to enable Tatler customers to enjoy the maximum benefit for the summer and autumn seasons.
By launching this magazine it will help Tatler achieve their SMART objective of being the preferred magazine for women aged between 40-50. This will also boost their position within the market as they will be broadening their market to appeal to women who share a love of luxury interiors.
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3
YEAR PROMOTION & EXPANSION
Throughout Year Three, there will be the continued launch and introduction of the Interiors Guide; as well as this there will also be additional promotion of the podcast platform as it would have grown significantly since its launch. Year Three will provide an opportunity to feature those that have been in editorials or past covers to appear on the podcast. Those featured will raise awareness and traffic to social platforms before the release. With the podcast increasing in following, it will demonstrate that Tatler have increased their numbers of readers as well as engagement.
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HOW WILL WE
76
GET THERE?
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YEAR 1 ACTION & COMMUNICATION PLAN The communication plan will run within the first year of the marketing strategy. The plan will be to launch a podcast, Talks with Tatler, which will demonstrate to readers that Tatler is innovating into the digital market. The improvements that the launch of the podcast will make will be significant as it will create a stronger relationship with their existing readers as well as reaching a wider audience.
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1
PHASE
FACEBOOK ADVERT
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Phase 1 of the communications plan is to create and release an advertisement in October 2019, this will have a focused release on Facebook. This platform has been identified as 3.4 million of 40-50 year olds in the UK are active users (Rose McGregory, 2017) and it is also the social platform with Tatlers biggest following, therefore insinuating that this will be the most effective route in promoting the new launch. The advert will be in keeping with their brand image of being mature, but displaying that they won’t want to miss the unique and fantastic interviews and advice from the world’s most influential people. The main ad will display a quick clip of inside Richard Dennen’s house (Editor In Chief of Tatler) with the title being ‘Talks with Tatler: An Insight into the Editors Life. The simplicity of the advert will catch readers attentions and leave them interested in what the podcast will entail. This will also create a connection between their readers and the brand; putting a voice to the person who edits their much loved magazines.
TALKS WITH X
RICHARD DENNEN 81
2
PHASE
YOUTUBE SERIES
82
To promote phase 1, Tatler will begin to launch a series of videos on YouTube which will run alongside the release of each podcast. These video series will be short around 2-3 minutes long, taking a closer look into some aspects of the podcast etc. This is a great means of content marketing which will help to drive engagement and following which will also be translating into magazine sales. These videos will also be used throughout Instagram stories and IGTV to also drive awareness to the launch of the podcast and video series to prompt people to go onto the podcast or watch the full video, with videos receiving 38% more engagement than photos (Sprout Social, 2018).
Talks with Tatler: An Insight Into The Editors Life
Talks with Tatler: An Insight Into The Editors Life
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3
PHASE
LAUNCH PARTY
84
For phase 3, there will be a direct emphasis on BTL marketing which will be directed towards their current readers. There will be a launch party for the airing of the podcast; therefore it will need to be promoted and invitations sent out. The invitations will initially be sent out to all those that have subscriptions to their print and digital magazines, the invitation will be included within their monthly parcel. This allows Tatler to target their active and loyal consumers; meaning they are going to feel privileged that they have been invited to a prestigious exclusive event. As well as their readers that are subscribed to their magazines, the invitations will also be distributed to all their customers who are signed up to their email newsletters. This form of promotion is direct and easily affordable. Invitations will be sent to celebrities and influential members of society in order to gain awareness and promote the podcast. As Tatler is a high quality magazine, the party will not be largely promoted over social media as it will be an exclusive event for invite only. This event will be a great means in promoting the podcast to their existing members and creating a bond between reader and brand to demonstrate that they are important and to not let them feel neglected. A few days after the launch party, Tatler will create a series of Instagram stories and posts to promote the Talks with Tatler podcast event. This will feature photographs of the people within the event which will include a ‘swipe up to see more’ link, generating additional excitement around the release of the podcast and in turn encourage further engagement throughout the website.
KATE SLESINGER
ALBERT READ Managing Director, Condé Nast Britain
Publishing Director, Tatler & Vanity Fair
INVITE YOU TO COCKTAILS FOR RICHARD DENNEN Editor, Tatler
THE LAUNCH OF: TALKS WITH TATLER
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B2B PLAN Throughout the 3 years Tatler will have a well established B2C marketing and communications plan to improve their position within the market, their B2B marketing will also need to be executed to a similar standard to ensure the brands that they partner with still feel connected. This will be done by creating new and updated ‘media packs’ to ensure the brands and Tatler are working to the optimum and providing each other with the necessary benefits.
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BUDGET PLAN
The total costs of their communications plan is £ 17,160. In context, their communications budget was £ 50,000, leaving them with £ 48,290. This was estimated due to their $78.3 million revenue (Hoovers, 2017) also taking into consideration Conde Nast’s annual loss of £ 14m (The Guardian, 2019). The breakdown of the costs that will incur in order to conduct the comms plan can be found in the Appendix.
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MEASUREMENT OF SUCCESS The success of the campaign will be measured in terms of: Social platforms engagement rates An increase in social media followers Increased traffic to the website Subscriptions to the podcast Increase in readership
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CONCLUSION In conclusion, this report summaries that Tatler’s best method for continued growth is to utilise the new technologies and medias as well as grow their platform to appeal to an alternative target demographic. The 3 year marketing strategy that has been thoroughly analysed will provide them with increased awareness and engagement. The key insight which was discovered through both primary and secondary research was that consumers want convenient technologies to connect with magazines such as podcasts as well as for Tatler to launch into a new subject matter. By improving the accessibility to reach Tatler online it will increase customer loyalty as well as traffic to the website and increased subscriptions. Overall, if Tatler follow the plan which has been created, their brand will continue to be successful and grow their readership rate whilst maintaining their image of providing the high class of British society with relevant fashion and lifestyle articles.
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APPENDIX APPENDIX APPENDIX APPENDIX APPENDIX APPENDIX APPENDIX
SURVEYS
BUDGET SHEET
TIMELINE
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