Maximising the efficacy of campaign process is vital for marketers and media agencies to prove budget optimisation, writes CEO of the Independent Agency Search & Selection Company (IAS) and SCOPEN partner Johanna McDowell, and partnerships between independent industry specialists deliver just the facts…
The recently announced partnership between the IAS and global media and marketing firm Eley Consulting, brings together a new addition to campaign effectiveness analysis that ensures all parties have the data they need to respond to questions about campaign efficacy.
Media assurance auditing facilitates an in-depth, independent analysis of media expenditure that answers the all-important questions around return on investment – on a scale that is not just about the money.
It’s a system that reviews every area of a brand’s media expenditure process across all platforms, in order to help marketers and media agencies see whether each area is aligned with best practice, while also ensuring good governance and compliance.
Eley Consultant Richard Edwards highlights the importance of impartiality in the auditing process by noting that the audit is entirely independent, undertaken within fixed cost and delivering transparency. He says this means clients are assured that their money is being well spent, and that the audit can show a more profitable direction to be taken if their return on investment is lagging.
Multi-platform audits and analysis
By conducting a series of interviews and collecting media expenditure data and supporting documents from a client over a short or long period, regular analysis across a number of campaigns is possible. There has long been a need for this service, as media is such a vast area of spend and clients would really benefit from independent expert input.
Essentially, audits and analysis are bringing marketers, media agencies and media owners, publishers together in a tripartite relationship that ensures better management and governance for all.
We also note that while the traditional platforms like TV and print are still a mainstay, digital is growing and changing rapidly, often presenting complications with the benchmarking of costs. Through regular auditing, media agencies and marketers get the figures and guidance that are vital ingredients in media efficiency.
Banking on richness of data
Suggesting improvement is always a good thing, especially where it results in time and cost savings, Eley Consulting operates in a way that means audits may not necessarily mean cheaper media in cash terms, but will certainly ensure an agency is delivering as rich a schedule as possible.
Again, independent assessments empower clients to better understand the spectrum of advertising opportunities and take control, in conjunction with their media agencies.
Over and above potential cost savings, media assurance auditing is of great benefit to marketers, agencies and media houses in providing reassurance that an independent party is checking and verifying rates, thereby also enhancing the trust that long-term relationships are built on.
From a business perspective, as Edwards notes, the richness of data collated from the audits lies in acknowledging the value of the marketing spend or guiding marketers towards best practice. It’s really about gaining competitive advantage by improving efficiency through the media tools used.
