Tag: media plan automation
Over the last 40 years there have been some significant changes in Marketing Mix Optimization: not only different models came and went, but also new advertising channels appeared. The digital revolution has changed the industry significantly, allowing companies to reach more potential customers and make better targeted ads. With so many new marketing channels the issue of optimal budget allocation is as relevant as ever. And some companies are unaware that huge databases they possess are the key to making more informed marketing decisions. By using this high-quality data along with improved techniques, companies can react quickly to changes in consumer behavior. This agility is crucial in the digital age, where advertising campaigns are short-lived. Without the necessary data, even the most sophisticated models are useless. Accenture successfully introduced more granular data into Media Mix Optimization models complying with GDPR (General Data Protection Regulation) as a result of their partnership with Facebook. Firstly, Facebook records the results of paid advertising campaigns on their platform, then receives client’s consent and finally provides the aggregated data to Accenture, that uses the data in MMM. Such almost real-time feedback allows creating and changing Media Mix Models much quicker. Another perk of this partnership… Read more »
We are trying to keep you updated on all marketing measurement trends, that’s why we prepared an article on the use of measurement tools after the phase-out of cookies and IDFA. Get ready to privacy changes and apply solutions that won’t be affected by the new conditions. See how MMM, MTA, brand studies and other approaches are going to function without third-party cookies. According to EXL Service, retail CMOs and marketing managers invest 8-10% of their sales revenue into marketing. An important thing here is to distribute the budget between different media channels in the most effective way and make sure that all expenditures yield a positive return. What we need are metrics that accurately reflect ROI at a sufficiently granular level. Unfortunately media measurement is currently not keeping pace with business needs in this rapidly evolving landscape, which is shifting from traditional TV to a multi-platform video approach. At CIMM’s request, the current state of marketing and media ROI analysis was examined. The Coalition for Innovative Media Measurement (CIMM) is a group of content providers, buyers, and sellers promoting innovation for in audience measurement across Television, Internet, and Mobile platforms in the USA. Among CIMM members are CBS, Discovery,… Read more »
Major ad agencies operate an extensive number of ad projects. A client’s single ad campaign can include upwards of 10,000 ad media. Large-scale campaigns require smart planning with account for all the nuances related to the purchase of ad inventory, and proper gathering of all reports and documents once the placements expire. Characteristics of a major ad agency How do major ad agencies operate, specifically? Many clients: the agency managers service over 100 clients; Ads are bought in more than 100,000 media units annually; The agency has about 70 employees; The agency works with more than 870 contractors; Ads are placed in more than 650 cities, while different employees handle the buying in different cities; The overall process of media planning, buying, placement and closing of an ad campaign involves employees from different departments: – client service managers handling client support; – buying managers handling the media buying; – the document control or accounting department responsible for the closing of deals. This results in the following difficulties: the approval process takes a long time, since all matters are discussed and handled via email, both internally and when operating with clients and contractors; the launch of an ad campaign consists of multiple… Read more »
