edition 13: august 20, 2003
p3media – the media benchmark  
P3 has been providing advertisers independent, expert knowledge, benchmarking, assessment and advice on their production and remuneration. Now we announce the same type of service for what is often your largest expense, media strategy and buying. P3Media is a strategic alliance between P3 and Media Benchmarks. p3 – helping people achieve commercial purpose through creative process Add a colleague to the ‘p3 news’ mailing list, by emailing their details to people@p3.com.au
  making your media more effective and more efficient   Since P3 was created in January 2000, many of our clients have asked us to undertake the same process of benchmarking, assessment, processes auditing and training beyond production and remuneration into media. While there are a number of media consultants in the market, in response to these requests, we began the search for the media expertise that reflected P3’s unique philosophy. This process led us to the door of Media Benchmarks and the formation of P3Media, offering advertisers the benefits of this strategic alliance. Proven expertise Media Benchmarks was created in October 2001 as the ‘brainchild’ of Executive Chairman, Dennis Merchant, and CEO, Mark Chesterfield. These two hardened veterans of the media industry saw a dire need for an independent and objective resource that could be made available primarily to advertisers in order to offer them a professional, external view of their media and media-related services. This need was in response to what they saw as a falling level of expertise in the media area and a ‘dumbing down’ of the whole media process, primarily through the delegation of key roles to junior operatives. This situation is the inevitable result of the ‘squeezing’ of agency margins and their ongoing corporate imperative for greater levels of profit. Industry best practice “There is no question that our views have been confirmed since the launch of Media Benchmarks and as evidenced by the work that we have done with some major advertisers,” confirms Mark Chesterfield. “But perhaps most surprisingly for us, has been the consistent lack of ‘best practice’ process in a number of key areas.” “For instance, we’ve shown one major Australian advertiser how to save over $5 million annually through the use of our proprietary processes and templates and by the simple application of the best practice principles that are at the heart of our analysis systems.” Optimise process, improve ROI Media Benchmarks comprises a group of seasoned professionals whose expertise covers most aspects of the advertising function including media, marketing, research, direct marketing and finance. Their sophisticated benchmarking and analysis systems, that incorporate both soft and hard measures, are designed to minimise wastage, allow access to greater market potential, optimise budget allocations, explore all media options and improve ROI for the advertiser. Efficiency driving effectiveness Media Benchmarks’ philosophy sees a focus on best practice process, effectiveness leading to efficiency, transparency in all stages of the process and ultimately accountability in all aspects of the advertiser/agency relationship. The rigorous application of these standards is a virtual guarantee of savings to the advertiser and ensures a better targeted, more relevant and more effective end product. P3Media offers a range of services including: Media Process Review Media Agency Remuneration Review Media Negotiation Benchmarking Media Buying Benchmarking Media Agency Account Audits Media Training Research Audits, Design & Implementation Media Agency Selection Media and Event Sponsorship Analysis Media Campaign/Strategy Assessment Media Negotiation Strategies & Support For more information about P3Media, contact people@p3.com.au
talk turkey on television production

When is 16mm more appropriate than  35mm? What’s ‘taboo’ on a shoot? How many dubs make up a national run?

P3TV Production Workshops. Know your stuff or look like an amatuer.

See www.p3tv.com.au  for more details.

tell a friend about p3-news
        While over half of Australia’s top 100 marketing departments currently receive our free P3 newsletter, many are not. Is a friend or colleague missing out? Help keep them up-to-date on print, television production and creative management, media and remuneration. Add a colleague or department to the free ‘p3 news’ mailing list, by emailing their details to people@p3.com.au or send this email to them by clicking the link below.
benchmark your television production costs on-line @ www.p3tv.com.au/app
“Instead of just worrying about the total, I can talk to the agency about the costs without looking stupid”. Brand Manager, May 2003When faced with approving a television production estimate, do you wish you could get an instant review of the costs against the industry average? You can if you and your agency are using the P3TV Benchmark Application. Contact P3TV for your free demonstration tv@p3.com.au

Click here if you would like to subscribe to p3

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