Brands are under growing pressure to prove their advertising works, so it’s increasingly important to assess the effectiveness of your advertising campaign. Since most marketing departments don’t want to evaluate their own media buy, we recommend having an outside source assess the effectiveness and efficiency of their work and provide constructive feedback to ensure that advertisers’ investment in media is properly calibrated, expertly managed and carefully monitored.
As part of the media audit process, Pace reviews the following:
- The foundations of the media plan: Business and marketing objectives; sales performance; plans (launches, promotions, evergreen); budget; available research and tools, including past performance
- Key drivers of the media plan: Competitive analysis, target audience identification, seasonality, media marketplace evaluation and evolution (new opportunities, media consumption shifts, etc.)
- Media buy strategy, tactics and optimizations: Optimal way to achieve business and media objective as well as KPIs; the most advantageous reach, frequency and impressions garnered; media considered but not recommended and why; recommendations; cost models; tactics; and value add
- Measurement and evaluation of the media buy: How did the media perform versus the objectives, KPIs and contracted inventory; what worked and what didn’t; how these learnings will inform planning next year
The final deliverable will include findings with actionable and quantifiable recommendations for updating plans to ensure improved performance across the media advertising supply chain.