©2015 The Mall as a Retail Medium David Parsons President & CEO, McGavren Guild Malls, LLC
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©2015
The Mall as a Retail Medium
David Parsons
President & CEO, McGavren Guild Malls, LLC
©2015
mobile.icsc.org
©2015
Who Am I and What I Might Know
Not an expert, but who is!
Prior Radio station management and ownership
Owner and partner of MG Malls
But what have I done:
Largest sponsorships of any program at Simon Malls during my tenure
Top Seller at Simon Malls nationally and locally
Created third party alliances
Developed sales program for malls like King Of Prussia and
smaller centers like Youngstown, OHIO
©2015
Here Is What We Will Cover
What is a medium, and why is the mall one of them?
Top Reasons why brands and retailers use mall media
How to value your center
Local sales
National Sales
Partnership development
Ready set dial!
©2015
Terms You Will Hear
Media
OOH
Experiential
Advertising Agency
Media Buys
Ratings
TAP
Eyes On
Sales Deck
©2015
Media
Is defined as the means of communication, as in radio
and television, newspapers, and magazines, that reaches
or influences people widely. Also includes internet and
Billboards along with social media.
©2015
Media Types
Out of Home
Radio
Experiential
Television
Direct
MarketingMagazine
FSIs
Newspaper
Direct
Cable
Digital
Web based radio
Grocer Media
©2015
WHY DOES THE MALL FIT AS Media?
The mall is a medium because:
• We can influence a large amount of people
• It is a means of communication
• We can impact a local market or trade area with our mall
• We can make a statement
©2015
In the advertising agency world we compete with ….
Images from OAAA – MG Malls is a member
©2015
Ancillary Income can be big!
Medium Revenue Notation
Television 45 Billion • 30% is local
• More network oriented
Cable 30 Billion • Mostly local
Radio 15.6 Billion • Mostly local
Outdoor 6.4 Billion • A lot of room for growth
• Inventory is the only
limit
• Malls are not maxed
©2015
What is the Opportunity?
Sources: Universal McCann, 2010 Total Media Spending;
TVB, Nielsen Media Research Survey 2008, % Hours/Week
Ad Spend Time Spent with Media
©2015
Strengths and Weaknesses
Outdoor
(billboards)
Radio Cable TV
Large visual image Targeting
capabilities
Better at targeting Big coverage +/-
Digital is dynamic No visual elements Smaller audience
than broadcast
Broad reach +/-
Short Time of View To get reach need
many stations
More ads Huge
fragmentation
Lack ability to read
a full message
Local promotions
are enticing
Excessive
fragmentation
Broadcast skew
older
©2015
Where Do We Fit?
OOH Media
Place Based Media
Ticketed event/ Measured space
Unmeasured Media
MALLS
Event Marketing
Consumer Marketing
©2015
Opportunity Summary
• People spend more time with OOH media – but OOH gets less revenue
• The revenue potential is huge to grow in OOH
• OOH is limited in within standard OOH media buys
• Malls can and should fit right in there with more inventory (outside of
holiday)
• Malls are a portion of OOH but the best part
– We are not measured, outside of backlit, in the OOH totals – 4.6 billion
– We have the ability to grow inventory
– Experiential is a great opportunity
• Our strengths against other media’s weakness is a huge opportunity
©2015
What Do We Have That The Other Guys Don’t?
©2015
Summary
• We are an OOH medium
• We are able to tap into a strong audience
• We have what OOH mediums don’t – people with their minds on their
wallet
• We are the perfect source for brands and companies to make in roads
into buying patterns
• We are only scratching the tip of the iceberg in revenue
©2015
Why National Brands/ Retailers Choose Malls
BRANDS
• Brands choose centers based on the need to reach a given market
• Assumed Guaranteed traffic is a benefit to media buy
• Ability to stand out from the crowd
• Support in markets where OOH is not readily available
• Flexibility, customized –and term tailored to “right time”
• To support other advertising initiatives (media mix)
©2015
Why National Brands/ Retailers Choose Malls
Retailers
• Retailers use malls to support or drive sales in centers
• Retailers look to redirect traffic within a mall or through a mall,
especially in tough positions
• Retailers like the ability to stand out from the crowd – put
signage at a 90 degree angle to the consumers
• Flexibility, customized – term tailored to “right time”
©2015
Why Local Brands Choose Shopping Center Advertising
• Relaxed focused consumer ready to buy
• Tapping into disposable income
• Ability to target campaigns
• Ability to target markets, traffic or assumed customer mix
• Hitting their home market!
©2015
Types of Shopping Center Exposure
• Product sampling and/or couponing
• In-line space for pop-up stores
• Static signage – directories, banners, floor graphics
• Digital advertising – e-newsletters, website banners, directories, digital walls
• Sponsorship – combination of assets
©2015
Pricing Retail Marketing Inventory
• Where does your center stand?
– Why type of center are you
– What is your traffic like compared to other public access points including other malls
– What is your centers value (leasing, tenant mix, Anchors)
• Each type of advertising should have its own rate card
• Research competition – events, stadiums, festivals
• Research competition – billboards, radio, ads and others
• Developing the rate card
©2015
Pricing Pyramid
DOMINATE MEDIA
Sky Banners
Escalators Elevators
Food Court Table Clings
Floor Clings
22x28 Posters
Door Clings
©2015
Brands utilizing retail marketing
– Consumer products
– Vehicles
– Entertainment
– Tenants
– Banks
– Beauty salon / spa
– Online schools
– Home improvement
– Colleges/ Universities
– Schools Local
– Healthcare systems
– Insurance (all types)
©2015
Brands utilizing retail marketing
Unlikely
– Business to business
– Tenant competitors (because developer would not want)
– Furniture dealers
– Grocery stores – but getting there
©2015
Top Reasons Companies Partner with Malls
• Target specific audience
• Brand Visibility
• Understand consumer behaviors
• Merchandise opportunities
• New products or services
• Increase brand retention
©2015
How Customers Experience Retail Marketing
• Relaxed and open minded consumer
• In buying mode
• Not distracted
• Normally with friends and family
©2015
How to Start• Develop a suspect list
• Category
• Research clients
• Find DM through calls or research
• Use the chamber
• Layout some partnerships that might work Radio ETC
• Attach it two fold – partnerships and direct sales
©2015
Local vs National
• Mall media is in two pockets of business
– LOCAL REGIONAL
– NATIONAL
• Know what you can handle
• National is driven and managed by your national team or third
parties
• Your highest efficiency efforts will be on LOCAL
©2015
Developing Partnerships
• Target the companies to partner with
• Local Radio Station, newspaper, Chamber, venue, Cable or TV
• Add the following questions to your call
– Top 3 goals?
– Have they ever co-sponsored?
– Have they ever done a mall?
©2015
Sales Call Preparation
• Create a cheat sheet to get started
• Add the following questions to your call
– Top 3 goals?
– Current customer to refer too
– 3 power questions
– Any history of mall or OOH advertising
©2015
Sales Presentation or Sales Deck
• Never ever send a sales deck with rates
• Never send a deck without a discussion
• Use one sheet tactical teaser pages to get attention
• ALWAYS customize your deck before sending it
©2015
Sales Presentation or Sales Deck
If you had four different vacation packages to choose to buy,
handed to you, could you pick one quickly?
©2015
Sales Presentation or Sales Deck
Why would you provide a client with five options at the same
time?
Sales deck should be direct
A & B options only
Prices that are comparable
©2015
Moving Forward
• Letters to clients
• Call
– How much is too much
• Stop in ( cold call)
• Referrals
• In client referrals
• Chamber and networks
The goal of all activity is to get a meeting only! Never pitch rates
outside of a formal sit down and discussion.
©2015
Measuring Results – Avoiding Buyer’s Remorse
• Ask what are the clients expectations up front
– Traffic? Photos? Testimonials?
• Gather market research, trends and statistics
• Support and be responsive to the client
• Discuss with property and staff
©2015
In-Mall and At-Mall Media
©2015
©2015
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©2015
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