Latest / Arts Unscripted with Monica Holt / CI to Eye | Your Cultural Compass

Transcript

CI to Eye | Your Cultural Compass · Arts Unscripted with Monica Holt

0:00
When you daydream about a vacation, where does your mind go? A sandy beach?
0:05
A bustling city? No matter what you choose,
0:08
it probably involves a dream location away from your desk.
0:12
That's because the right environments transform our experiences.
0:16
It's not just what you do, but where you do it.
0:19
And Boot Camp 2024 has the "where" on lock.
0:23
Gather with arts professionals from across the country at one of the dreamiest
0:27
arts destinations around: Broadway. We're talking lights,
0:32
showbiz, spectacle,
0:34
and two days of unmatched learning alongside arts lovers just like you.
0:39
Recharge your creativity with industry-leading sessions,
0:42
then take in a post-conference show or stroll down Museum Mile.
0:47
Join us at the Times Center in New York City, October 24th and 25th,
0:51
and escape to a world of artistic inspiration.
0:54
Treat yourself to a ticket at capacityinteractivebootcamp.com.
1:07
Hello there, arts aficionados! Welcome back to CI to Eye. Now,
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one of the questions we hear most often from arts marketers is:
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how do my campaign results compare to those of my peers?
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We all want to know how everyone else is doing, and it's an excellent question,
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especially since pre-pandemic benchmarks are all but obsolete right now.
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Audience behavior has changed so much over the past few years,
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and if we want to adjust to the demands of today's market,
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we need updated markers for success.
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And if you've been listening to the podcast,
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you know by now that we are relentless,
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proud data nerds. A lack of measurement just doesn't sit right with us.
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So the CI team put together a study based on our own bank of campaign data for
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over 150 client organizations to uncover brand new digital
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marketing benchmarks and emerging trends for our industry.
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It's called Cultural Compass. And in today's episode,
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we'll preview some of the most impactful findings before it's officially
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released to the public. That's right, spoilers ahead.
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I'll sit down with Senior Consultant Ali Blount to discuss the study's
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parameters, the biggest surprises in her data analysis,
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and a few key findings to help inform your FY25 media planning.
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Shall we dive in?
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I'm here with Senior Consultant Ali Blount,
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one of my favorite people to have on the podcast and lead researcher for CI's
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brand new Cultural Compass study. Ali, say hello to your many, many fans.
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All three of them.
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All three of them.
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All three of them, my children and my husband. Hello.
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I'm very excited to be here.
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So CI used to release an arts industry benchmark study,
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and this looked at the state of digital marketing practices in the arts.
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So how is Cultural Compass different?
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So in some ways it's a 2.0 version,
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and in some ways it's a completely new study.
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It's adjacent to those other studies that we ran,
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but also a completely new set of questions and things that we're looking at.
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We actually looked at the data that we have at our fingertips.
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So all of the campaigns that we run for our clients throughout the years,
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we analyzed that data to come up with lots of different conclusions to kind of
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see what's happening in the world today... in the digital marketing world.
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And there's been definitely a lot of changes in the industry over the last few
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years. I'm sure people on the podcast are sick of us saying, "Well,
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the industry has changed so much over the last few years!
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Unprecedented changes!" But it does feel like now would be a good time to look
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at how we approach digital marketing, right?
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Yes.
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And that's the reason that we really chose right now to be the time that we're
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like, okay, we're doing this, we're studying this data.
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We are emerging from the pandemic-whatever phase of the pandemic we're in,
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who knows. But whatever phase we're in,
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we're at a point where audiences really have settled.
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The audience behavior changed throughout,
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and now we're at a point where it's like we're in that new routine.
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We have things like AI and machine learning on the rise.
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We have new platforms like TikTok and Spotify that a couple years ago were brand
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new and now they also have kind of settled and they're not going anywhere,
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and we have a better sense of that landscape.
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So it feels like we're at this really big watershed moment,
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and that's why we were like, okay, this is the moment.
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This is where we want to be answering all of these questions and making sure
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that we're studying this data to really push us forward into what the next level
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of digital marketing is going to look like.
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Yeah, I think whenever a big study like this happens,
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it's interesting to think about what questions the study is trying to answer.
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So what were we looking at when we were originally creating this study?
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So the idea for this kind of came because constantly our clients are asking
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us, how do I compare to my peers? I am a museum and I want to know,
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what are other museums in my area doing? Or I'm a theater,
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what are other theaters doing? Or whatever.
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So we were really curious to actually be able to answer those questions.
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So the big one was just generally,
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what can I learn from my peers in the industry that can help really guide my own
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organization's growth? And then from there,
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we really took it in a ton of different directions.
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How does my media spend compare?
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How can I diversify across other digital channels?
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What can I learn from other organizations in my region, my budget size,
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my genre?
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Yeah, I think knowing what your peers are doing is such a valuable way of
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measuring your own performance.
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And it can be so insular when you're at an organization because you're just in
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the day-to-day,
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and you don't often think about what's everyone else doing and what can I do
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differently?
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And especially with all the changes that have happened recently in the last few
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years, things have gone up, things have gone down,
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but you want to see if that's everyone, not just yourself, right?
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Yeah.
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It's really because typically when clients ask us these kinds of questions,
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often our answer is like, okay, well you want to benchmark against yourself.
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If you're a theater in the Northeast,
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you don't necessarily expect that you're going to perform the same as other
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theaters in the Northeast for various reasons.
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Even just programming can affect it, everything can affect it.
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But that being said,
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there are definitely some big questions where it would be really helpful and
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interesting to know how your peers are performing.
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Thinking even about something like budget where you're looking at, okay,
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well what percentage of my budget am I spending on Meta versus Google?
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How much should I be spending?
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Just having a sense of what your peers are doing I think is helpful to guide
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you.
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Maybe you are spending a lot less than them and you could and should be spending
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more. Some people might be pushed to their max and that's fine.
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But I think it's interesting to be able to compare and tweak and see if there
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are best practices that you're not kind of living up to and maybe figure out how
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you can.
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And seeing what you are outperforming, as well.
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Seeing what you're doing really well and might want to lean into even more.
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Oh yeah. To be able to invest.
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If you're really crushing it in the video category,
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maybe you want to amp that up and spend even more on video.
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Yeah. So you mentioned we pulled from clients' campaign data for this study,
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so we must have a bunch of data.
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What kind of organizations are represented and what were some of the parameters?
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What did we look at?
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Yeah, so I was super excited by the response to this.
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I was very nervous when we started asking for client permission because I was
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like, how many are we going to get?
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And we ended up getting 152 organizations to agree for us to study their data,
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which is incredible. It's a much better response than I ever expected.
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And those are organizations across the US and Canada,
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and they are across every genre and organization size and all of that.
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So we have the organization size broken down into three buckets. So small,
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medium, large. Small being 5 million budget or less,
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or under 5 million. Medium is 5 million to 14.9 million.
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And then large organizations have a budget of 15 million plus.
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So we're really having everybody represented.
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I think any organization listening to this,
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you'll find your peers represented in this study,
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especially because we had a massive pool of data, which was exciting.
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We also looked at a full calendar year, which was really important to me.
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I wanted to make sure that we could study things like seasonality,
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things like holiday programming. So we looked at last year, so 2023,
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January 1st to December 31st.
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So this is a huge, huge study. And as you were digging through the data,
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what jumped out to you? What findings surprised you the most?
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A lot of things did,
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which was really awesome that we ended up finding a lot of things.
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One that was really interesting was how organization size played into things,
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looking at large versus small organizations.
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And there are some things that are expected.
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Large organizations have larger budgets, and in many cases,
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of course they're going to have better performance.
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We saw a lot of higher ROIs and higher purchase conversion rates and things like
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that.
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But what I thought was really interesting is that smaller organizations actually
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can still hold their own and do so by spending a lot less than
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medium and large size organizations.
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The area that we really saw this was with video, interestingly.
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So small organizations had the second highest video rates behind medium
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size,
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and large organizations actually had the lowest video view rates any way we
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sliced it,
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which was really surprising because you think that a large organization has a
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ton of money to pour into video production,
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so naturally their videos must be the best and performing the best,
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and it was the opposite of that, that they actually have the lowest rates.
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So it was really interesting.
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Yeah. Why is that, do you think?
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Is it because smaller organizations can generate a greater volume of
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content for their size, or is it...
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I always think about the scrappiness-in a good way-of smaller organizations.
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About being able to just make the content without going through levels of
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approval.
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I think that's exactly it.
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I think that one of the most interesting metrics that we found was that for
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video view rate in particular,
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larger organizations actually had the lowest video view rates and small
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organizations had much, much higher video view rates.
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And I think you kind of hit the nail on the head that a smaller organization is
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going to be more nimble,
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so maybe they don't have the ability to produce this very expensive video,
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but perhaps they can produce something that's really relevant and fun and
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engaging and interesting.
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Perhaps that's using a trending audio or something that's very topical.
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So I think that they actually in many ways can produce better content on less
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budget,
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which we saw because we saw stronger video view rates for smaller organizations.
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I think the last two bootcamps we've done,
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we've had people talking about TikTok and they emphasized how important it is to
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follow these trends and just make the video and put it up there without worrying
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too much about if it's perfect.
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On the platform is better than perfect and not on the platform.
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100%.
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So I've worked at larger organizations and I've seen what it's like to get lots
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of approvals and it can take a while,
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and that's just not something that works as well.
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When you're looking at content creation, at the end of the day,
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you need to make really compelling content,
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and you can't always do that if you're waiting two weeks to be able to get it
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approved. And I don't mean to disparage large organizations,
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they obviously still perform very well, they all are doing great.
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They're large for a reason.
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But just small organizations, I wouldn't want them to be like, oh,
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we don't have a budget to produce things.
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I want to give some hope there that you can still make incredible content and
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see incredible campaign results even if you don't have a lot of budget and a lot
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of staff and things like that.
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You just need to make incredible content that is tailored to your specific
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audience.
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And no matter what size organization you are,
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there's always wins that you can have regardless,
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like branded campaigns for search.
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You can run branded campaigns regardless of your organization size.
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And like you said, it's such an easy win because I mean,
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my personal recommendation is that anybody, any organization, size, type,
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should be running a branded search campaign year round,
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and we saw the results really supported that.
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So that's a huge win that anybody can do.
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Things like shifting some money to Google,
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which I definitely want to talk about, can be a really easy one too.
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So obviously size of an organization can make a big difference,
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but we also looked into different genres as well.
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We did, yeah, we looked at every genre within the arts.
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For ease of interpreting results, we broke it down into two buckets.
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So we had exhibition, exhibit-based organizations, museums and things like that.
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And then we had performing arts kind of all lumped together,
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and we did see some interesting results.
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One thing that was fascinating to me is that the exhibition-based organizations
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saw stronger engagement rates for their Meta posts,
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and one theory we have behind that is that the exhibition based
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organizations do a really good job at representing what it's like to
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actually visit the organization. In a lot of these posts,
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you can really see when you go to visit the museum, you know what it's like.
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You're looking at whatever exhibit or whatever the entrance is.
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That's really part of the post, just inherently.
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Whereas performing arts posts tend to focus a little bit more on the art itself,
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which is... there's nothing wrong with that, that's really important.
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People need to know what they're going to go see,
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but the thing that's really missing is what that experience is going to be like,
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which is often what gets people out of the door and out of their house,
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is what the whole experience is, not just the art itself.
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So I think that that's something that performing arts organizations can learn
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from the exhibit-based,
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is really [to] focus on the full picture from A to Z as opposed to just the
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middle section where you're actually seeing the show.
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Yeah, capturing that excitement of going into a theater I think is...
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Every time I go in and I get my seat and flick through the playbill and pretend
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to read it-.
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I read it! Always. It doesn't surprise me that you're not a playbill reader.
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No, my wife is. She collects all the playbills.
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Well, she's better than you.
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Yeah, yeah. Well, in every way. Yeah, definitely. And yeah,
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I mean capturing the sort of magic as you walk into a theater,
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I always get so excited in my belly when I walk into a theater.
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In your belly?
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Yeah, I feel like a kind of,
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almost like butterflies a little bit whenever I walk into a big theater or even
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a little theater, to be honest. It is just exciting to sit down.
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And capturing that inside an ad I think is a really strong move.
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Oh yeah. When you said little theater, it just made me think,
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I took my kids to see The Little Mermaid at a very tiny theater this weekend,
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and it was my daughter's first show. She's two, and she did amazing.
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She sat quietly the entire time,
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but I'm going to fully admit that I cried when we walked in and they were both
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looking around at the theater and it was just so sweet,
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and they were so excited,
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and I fully cried at The Little Mermaid because I was just like,
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this is just such an experience and a moment.
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It was just so exciting for them to witness this live amazing thing.
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Yeah, I mean, little theaters,
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there's something magical and scrappy and fun about a little tiny theater.
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I do improv every two weeks in a little 30-seat theater, and it's tiny,
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but that packed out is magical when people are
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jammed in. So a tiny theater,
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that's an experience that you can't necessarily replicate in a lot of bigger
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venues.
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Do you get jam-packed crowds for your improv...?
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Oh, we actually do! We're doing all right. Yeah, we do. We've been selling out.
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Not in the past...
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I'm happy for you.
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I've done the Edinburgh Fringe a few times.
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I've definitely had light audiences of just one or two people before.
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It's more intimate.
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Yes. Yeah. What a diplomatic way of putting that.
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What about the other way?
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Is there anything that you think exhibit-based organizations can learn from
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performance-based organizations?
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Yes.
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The performing arts organizations saw much stronger video rates.
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So video view rates were a lot higher for performing arts,
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and our reason for that is they just tend to be more dynamic,
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which is not fair to exhibit-based organizations. Of course,
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visual art is inherently kind of static.
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There are very few visual arts exhibits that are moving and dynamic.
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That happens, but not always.
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Whereas performing arts is very dynamic and that makes a more dynamic video,
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just like inherently. So those videos tend to perform a lot better.
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So I think that's something that exhibition-based organizations could work on is
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making sure that their video content in particular is really dynamic.
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It's a great reminder of just creating compelling content in general.
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And you also researched ideal video length for these paid campaigns, right?
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Yeah, so we've talked a lot about video,
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and I think that one of the big questions that I certainly always get from my
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clients, I'm sure every single consultant at CI gets from their clients, is:
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what is the best video length?
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And I hate to give an answer to that because ultimately the answer is the best
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video length is making a video that is strong and compelling and wonderful with
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the time that you need. But if we want to put an answer behind it,
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which people do...
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Such a consultant answer right there.
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I know. But if we're going to put an actual number behind it,
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we really did see spikes at one to two minutes. One to two,
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and between those were when we saw a lot of spikes in all the metrics:
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engagement rate, video view rate, page view rate, et cetera.
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So I hate to say it, but there was a sweet spot there of one to two minutes,
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although we still also did see strong results with videos across the spectrum.
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So all that to say is, if you're making a video,
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use the amount of time that you need to use.
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If you need to make a five minute video and that's the best way to tell your
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story, then do it. We saw plenty of five minute videos that had amazing results,
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but if you don't need a five minute video,
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then maybe try to edit it down to 60 seconds or so.
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I think a lot of listeners are deep into the FY25 strategic planning stage of
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the year, and as they put media plans together for the next season,
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what do you think are some of the biggest opportunities according to this data?
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There are a lot. I think the one that I'm most excited about,
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just because it was honestly kind of wild as I kept doing the data analysis and
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kept seeing the results come in, is Q3. So July through September,
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we see a ton of opportunity there.
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It was very interesting because organizations spend the least.
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We looked at media spend for each quarter,
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and the lowest media spend was in Q3. But on the flip side,
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all of the other metrics were better in Q3. So CPA, cost per acquisition,
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was at its lowest in Q3. CPM,
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effectively how much we're spending on these ads, was at its lowest in Q3.
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Page view rates were highest in Q3, purchase rates were highest in Q3.
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So it's this interesting thing where nobody's spending there as much,
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but the people who are spending are seeing the best results of the year.
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I think many organizations are dark in the summer months.
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It runs from September to May.
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And so we think naturally as marketers we're like, well,
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we're not selling anything. Let's turn off the tap and save some money.
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But that's not always the best use of our time and money.
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No, it really isn't. Kind of out of sight,
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out of mind where if you're not running,
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then by the time you start up again and you have tickets on sale or programming
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starting, you might not be top of mind for people.
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So I think this is a huge opportunity to make sure that at the very least that
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you have a branded campaign running. If not, if you're selling tickets,
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if your on-sale is then, make sure you have an on-sale campaign.
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If you are starting actual performances, have a single ticket campaign.
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And there's lots of options there that you can be doing with those types of
19:40
campaigns, but just have something going.
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What are some other ways you can change up your marketing mix?
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You mentioned prioritizing Google as well,
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which we've already chatted about a little bit.
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Yeah,
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so one of the interesting things that we found is that people tended throughout
19:54
2023 to invest more in Meta. The split was roughly...
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Looking at Meta and Google specifically, the split was roughly like 60-40 ish,
20:02
give or take, and that makes sense. Meta has incredible results,
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and the one thing we found though is that we are seeing really strong results
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recently from Google.
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Google has really done a lot of investment in their dynamic ads and their
20:17
machine learning to make sure that their campaigns are going to perform really
20:21
well, and we're seeing that play out.
20:22
We saw crazy high results for a lot of Google campaigns.
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So we're not necessarily saying,
20:27
take all of your Meta money and put it in Google.
20:29
That's not what I want people to do.
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Meta is still really important and it still does really, really well,
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but if there are ways to make sure that you can shift a little to Google or just
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make sure you have a presence on Google,
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that is definitely something we're recommending. Like I said,
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people aren't spending there as much.
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I'm sure many organizations have no Google budget,
20:46
so just explore that and tap into Google and really try to spend a little bit
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there if you can.
20:51
I think that becomes a little easier when we think about things like Performance
20:54
Max and Demand Gen campaigns, which are performing really,
20:58
really well at the moment.
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They are. That was one of the most interesting takeaways I think,
21:03
was how well Performance Max is doing.
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What is Performance Max just so we can, because it is a weird concept, right?
21:09
So Performance Max is basically letting you tap into all of the Google
21:13
inventory. So you run your one ad, you give Google all of your assets,
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so like your copy, your imagery, which could be video ads and static images,
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and you put it all in there,
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and then they're going to serve out the best possible ad combination.
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So they're going to piece those together.
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Best possible ad combination for each person on the best possible placement for
21:31
each person, which is kind of where that interesting twist is.
21:34
So you can tap into Gmail and YouTube and all the different places from this one
21:38
campaign.
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It's a little bit of a black hole because you're trusting the Google algorithm
21:43
and you're not telling it,
21:44
"I want to serve X amount of impressions on YouTube" or anything like that.
21:49
I will fully admit that I was a skeptic when it was first announced.
21:53
I have a tendency to not trust the machines and AI...
21:58
You've learned well from sci-fi films, I feel.
22:00
I sure have.
22:01
But especially coming out of this study and seeing just how high the results are
22:06
for Performance Max, I am truly converted.
22:10
I've been telling all my clients that we need to run-and we have-that we need to
22:12
run on Performance Max. So unsurprisingly, for Google,
22:15
paid search was the top.
22:18
It was performing the highest for any metric, you name it. Paid search wins,
22:22
which makes sense. Of course we would expect that. But next,
22:26
in pretty much every case-I don't think there was ever a metric that this wasn't
22:29
true-next was Performance Max,
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and then there was some various mix with the next three of Display, Demand Gen,
22:36
and YouTube. But the top two by far, solidified,
22:40
were paid Search and Performance Max,
22:42
and I thought that was really interesting because there are very few people who
22:45
actually are running Performance Max campaigns,
22:47
so it's a huge opportunity for people to shift their budget to be running there.
22:52
Also,
22:52
keeping in mind that you need to be running paid search when you run Performance
22:55
Max, just as an FYI.
22:57
Yeah,
22:59
so all of this information is super helpful and I think a really good preview of
23:03
the Cultural Compass findings.
23:06
When is this coming out and where can people find it?
23:09
So it's going to be released in June on CI's website,
23:12
so you can go there to find it when it's published.
23:15
If you're not already on CI's list,
23:17
I highly recommend signing up for our emails so that you can be one of the first
23:20
to know when it actually gets published.
23:23
And it's a huge study.
23:26
How's the best way to approach this study, and what can we take from it?
23:30
I think that the main thing that-when I started this study and the research for
23:33
it, I really wanted to make sure that it was actionable.
23:36
That was my number one goal here was whatever the results are, whatever we have,
23:40
I want to make sure that people can read this and that they can take action from
23:44
it and apply the findings.
23:45
There's nothing worse than having a bunch of data and then just thinking, cool!
23:49
And not doing anything with it.
23:51
Especially because we are in this work all the time and we have a tendency to be
23:56
really in the weeds,
23:57
and I wanted to make sure that we're zooming out and making sure that anybody
24:00
reading this is going to understand the results and also know what to take away
24:04
from them. So for every piece of data,
24:06
for every metric and benchmark and question that we answer,
24:09
we have an explanation of what it's actually saying and showing,
24:13
and then we also have our CI recommendations for every single piece of data.
24:17
So it's like, what if you are meeting this benchmark or not?
24:20
What could you be doing? Here's the big takeaway from this.
24:23
All those kinds of things are in there to make sure that you can really take
24:26
action and apply this to your next season and beyond as you plan.
24:31
Yeah,
24:32
I'm really excited for clients to dig into this and see all the work that you've
24:37
done in this study. I think it's such a useful resource,
24:40
especially as we're planning the next year for marketing.
24:43
So thank you so much for joining us and talking through the Cultural Compass.
24:47
Thanks for having me, as always.
24:59
Thank you for listening to CI to Eye.
25:01
This episode was edited and produced by Karen McConarty and co-written by Karen
25:05
McConarty and myself, Dan Titmuss.
25:08
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