Why Audit your company’s Media activity?
In this Fuel Media and Marketing blog we look at why in today’s market, a media audit is more relevant than ever before.
To be clear there are separate strands to a ‘Media Audit’. All of these, have their purpose and all approaches are available internationally through Fuel Media and Marketing:
Media Performance (Benchmarking) Audit
Contract Compliance (Financial) Audit
For today’s purposes we are focusing on the Media Performance Audit.
We commence with a truism, that our industry has morphed from historically being dominated by TV, to the current market which is absolutely dominated by Digital. When it comes to marketing investment, media still consumes around 90% of the capital.
Media Performance auditing has greater relevance in today’s world than when it was first proposed around 40 years ago.
What began as a ‘Mad Men’ show business-based communication tool became known as ‘Advertising’, and is absolutely today a critical investment. This investment requires, and deserves, attention. In short, “Did we receive the media schedule we approved, and has it been delivered at a competitive price?”
It goes without saying that one of the highest costs to businesses - communications - requires scrutiny.
The role of Inventory media is critical when assessing client performance guarantees. Inventory Media offers the agency access to low price ratings, which may allow those guarantees to be completed.
However, clients must be aware that vendors are as likely to be using the inventory media mechanism to ‘clear’ unwanted space, i.e. audience delivery in poor spots or on the fringes of demand.
So the message to advertisers is check out the provenance of all the ratings that make up your schedule and exactly what this inventory media input adds to your overall delivery.
An audit addresses any doubts concerning whether delivery is in line with contractual agreements, as well as any reservations around trust issues. Most importantly, an audit provides verification that delivery is competitive, a critical deliverable. We provide valuable insight whilst exposing the underlying mechanisms that might lead to margin enhancement at the agency end.
Fuel Media and Marketing provides all aspects of audit under one roof. Our approach to media performance audit provides our clients peace of mind by investigating the following key elements:
Today’s transactional media market involves principal-based media inventory on almost all schedules. Fuel Media and Marketing audits these in context so that clients receive the insight they need, revealing where value is based and whether or not their agency is indeed delivering exactly as expected.
Client/Agency relationships are founded on personal relationships – Trust is a vital aspect. Fuel Media and Marketing provides the evidence to verify that trust is justified.
Fuel Media and Marketing has always believed in the original concept of Media Audit. We always put our client’s media value into true market context.
Media complexities increase and are adding to the complicating factors/elements: Programmatic; Principal-based; Media Value swaps, (even across vendors/borders), not forgetting the rise of AI buying!
Fuel Media and Marketing provides services,within its Media Performance portfolio that ensure media value is competitive and delivery meets contractual agreement. Fuel Media and Marketing will make rational market-based sense of your agency relationship.
