Posted in Marketing and Strategy Terms, Total Reads: 784
Definition: Recency Strategy
The dictionary meaning of recency is something which has occurred recently or in a recent frame of time. Recency strategy is one of the strategies adopted by the media agencies to increase sales and effect of that advertisement. The strategy says if an advertisement is shown at a lower weight but more frequently and consistently it is likely to result in more revenue and sales than if shown at a higher weight but less frequently and consistently. The weight mentioned in the above definition is the measure of advertising support for a given brand. This measure can be expressed in terms of print media impressions or the number of radio or television employed for the promotion of the ad.
The strategy is based on the observations which says that a particular ad will be able to effect more in a purchasing decision if it is aired or carried out at a time just prior to the customer buying. There are observations which show that frequency also effects the buying behaviour. This is because if a customer is exposed to the advertisements less number of times he/she may not retain the message. But if he is exposed to the advertisement for a longer duration the effect may be significant and may also turn into him/her buying the product. However, a single exposure to the advertisement at the time of purchase would help the company increase its sales.
Companies try to use this strategy effectively by placing their ads close to where a customer is likely to buy these. For instance, a company which makes packaged drinking water would advertise their product near a gym or a sports centre as the chances of the customer buying the water of their brand increases.