Regional Buying on a Budget
Your agency better be prepared to keep a watchful eye! It’s easier to blanket areas than it is to break them apart. There are many ways to carve out and divvy up your media spend. Maybe you want to focus your spend on your top performing markets? Maybe you want to focus your spend on the least performing markets? Maybe you are opening new location(s) and you want to spend a portion of your dollars in those areas? Is your agency prepared to execute this type of buying? Is your agency prepared to watch over that campaign and treat your money like it’s their own? Will your agency watch over the buy to make sure that those portions stay in those areas? This takes an enormous amount of planning, reporting and time. If left unattended, your money could end up in areas you did not want to focus on and possibly in another time zone. And yes, that happens more often than you may think.
Here are a few items to task your agency to get the biggest bang for your buck.
Negotiate with your Vendor
Your company’s media budget seems to be cut from last year, and of course everyone wants more of everything than the last campaign. How are you going to get that done with less money? Does your agency negotiate with their vendors? Or do they just buy close to rate card and commit? This should be your first question to your agency. Let’s be honest, the easiest thing for the agency would be not to negotiate on rate. They bill off your total spend!
Check Impression Delivery and Pacing for your Digital Campaigns
Is your agency checking that the impressions placed are delivered in the scheduled territories? Or are they just checking to see if the number of impressions were delivered so they can bill you for them. This is the top area where you can get some added value for sure.
On a recent campaign we requested delivery by zip code and found that roughly 20% of their spend delivered into unapproved zip codes. That is not good news for anyone, but it periodically happens. Those of us in the reconciliation department know this means “Free Ads”. That incorrectly placed 20% will be coming back to the client and back into the approved areas. That 20% is voided from the invoice becomes added value impression.
We require weekly reports that shows us delivery by the hour. Pacing is extremely important for all our campaigns. Are your impressions being delivered while people are awake? Are the relevant times to sales cycles or just wasteful placements?
Out of Home Billboards
You might think, what is there to watch? The billboard goes up, then it comes down. That would be terribly naive. There are many things that you should be watching for. Typically, there is an acceptable window “posting period” that as the agency along with the vendor agree upon. Meaning, they typically have a few days from the proposed start date to post the board. Expecting them to post possibly hundreds of boards on a Monday because that is when it supposed to start is not possible. Over a few days, yes. If we come across, that every board posted 5 days late and you have 50 boards, that is 250 days of lost advertising time. Which equates to nearly 9 months of lost exposure! This is unacceptable and we either get that lost time reinserted on the back end or take credits.
Multiple Creatives Pieces
Frequently in out of home and digital there could be multiple creative pieces that are running at the same time, and you scheduled equal rotation for each. When the digital play report comes in you find that one of the creatives ran 80% and the other 2 ran at an equal 10%. Again, not something the client or us want to hear. On the other hand, for those of us in the accounting department, we know this means “Free Ads” or “Added Value” to our client. That mistake is removed from the invoice, and you get those additional ads for no cost and the contract is reloaded until fulfilled.
At A3 Media, we do everything possible to always ensure that there are no mistakes made on all our campaigns. It’s this detail that you want to make sure you’re getting from your agency. Are they watching these things? Honestly, it would be easier and less time for the agency not to get so granular, but then the client is really the only one who loses!Reading Time: 3 minutes
Part I: Impression Pacing
Media planners and buyers spend hours and days crafting and planning the perfect buy to maximize impressions within a client’s given budget. Often the media buy is placed with a vendor and left to run its course, leaving the media company and client surprised a month or two later to find out that the buy did not run exactly as planned. At A3 Media, we believe a well-thought-out buy deserves effective post-buy monitoring to ensure the buy runs as designed. Monitoring daily impression pacing is one way to confirm that the buy plan matches reality.
So, what is pacing? In short, pacing is matching daily impressions delivered to the average daily goal (total impressions purchased for the flight divided by the number of days in the flight). Just like a runner does not start a marathon with a leisurely stroll or an all-out sprint, we do not want our impression delivery to start too slow or too fast. And like the marathon runner, we need to know when to speed up or slowdown in order to finish the race within our goal. Why? What is the harm of too slow, too fast, or uneven pacing?
If a campaign starts too slow you risk not using your entire impression budget thus reducing reach and frequency. In other words, our marathon runner will not finish the race in time. On the other hand, if a campaign starts too fast, you risk using up all your impressions and ‘going dark’ before the end of the campaign. In such as case, our marathon runner will burn out before reaching the finish line.
In addition, uneven pacing can result in impression peaks and valleys that reduce the effectiveness of your planned strategy. At our agency this typically means syncing up against other media elements at the appropriate time to be effective as possible.
It is important that we monitor pacing because sometimes vendor’s promised inventory availability projections do not match the actual inventory available. If we do not have a firm handle on our daily pacing, under-delivery and inventory issues may not be uncovered until invoice reconciliation at which time it may be too late to make any impactful changes to the buy to fix the low delivery. We monitor our pacing weekly and sometimes daily, depending on the unique particulars of the buy. This ensures that we are always aware of any issues that may be present before we are invoiced and while we still have time to make those impactful changes.
There are many tools available to track and monitor your pacing including vendor dashboards, specialty software, and Excel spreadsheets. Do not be afraid to ask your vendor for more data and ad-hoc reports so you receive the information necessary for you to track impression’s daily delivery. Whatever you choose to use, the important thing is to do it with regularity.
Now that you have a plan in place to track and monitor your daily impressions what do you do with this information? Well, then you make adjustments! If your data shows under-delivery, then reach out to your client and AE – perhaps you can open your demo? If that is not an option, then perhaps, you may choose to utilize a different vendor source. If data shows you are running too fast and overdelivering, then a conversation with the AE is necessary to ensure that the flood gates are closed a little bit, frequency caps are initiated, and remaining impressions are spread out evenly throughout the rest of the campaign.
Effectively monitoring daily impressions pacing is one way to ensure that the planned buy is executed as designed. Without regular observation adjusting the buy is impossible and the monetary investment as well as the time planning and strategizing for a successful campaign is wasted.