|a better way to buy television production
new P3TV bid authentication service (BAS) pays off big time
Launched late in 2005, already P3TV’s new Bid Authentication Service has proven to be a real money saver for clients using the service. Here are two case studies that demonstrate how the P3TV BAS has saved big on production costs.
case study 1 A client, unsure what their production budget should be for an upcoming TVC, asked P3TV to review the proposed creative and estimate the production cost. Based upon the production spend of their last campaign, the client was considering spending $400K. However, after consultation with the client, agency and production company, P3TV’s ballpark estimate came in at $320K. All parties were willing to produce the TVC for this budget. Prior to this assessment, the agency’s estimate to produce the concept had been $400K , based upon the client’s budget and previous production spends. Had P3TV not been involved, the agency would have given the production company a target budget of $400K and the budget would have come back to the agency at around this budget. As the client had already included the production budget of $400K into their overall budget, the subsequent saving of $80K was added to the media spend to achieve better reach and frequency. P3TV cost to client $1,800 representing a 4450% ROI.
case study 2 A client asked P3TV to review the preferred creative for a campaign and provide a ballpark estimate to set the production budget. The P3TV analysis was based upon recent exposure to a very similar production and production technique, and the result came in well under the agency’s estimate ($350K) from their preferred production company. Subsequently, P3TV recommended to the client that the job be put out to competitive tender, as many of Australia’s directors and production houses were capable of the creative and technical requirements for the project. At the client’s request, P3TV was involved in the tender process, with all the requested production estimates, including the preferred agency supplier, coming in within a 10% variation of the P3TV ballpark estimate. This represented a saving of some $60K and as the agency’s preferred Production Company was able to match its competitors they were awarded the job. The total P3TV cost to client for the production assessment and tender management was less than 2% of the production budget and delivered a 17% production saving, representing an 880% ROI.
The figures speak for themselves. P3TV’s new Bid Authentication Service can make a difference because by reviewing the production budget prior to briefing the agency and assessing the production cost of the concept prior to briefing the production companies, the advertiser can set expectations rather than negotiate a change to their agencies position.
For more information on how the P3TV Bid Authentication Service can save you money, click here, or email email@example.com or contact Clive Duncan on 03 9682 6800 or 02 9279 4997.
|the best and worst of australia’s top advertisers|
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|P3Media’s new face, new offers|
|Stephen Wright is the new face of P3Media. Most recently, Stephen has been at Fairfax as Director of Advertising Communications. And previously was Media Director at Saatchi & Saatchi, M&C Saatchi and a founding member of The Media Palace. Stephen is already busy with Media Training Workshops, and is keen to introduce the P3Media Health Check to P3 clients. So to maximise your media spend, contact Stephen at email@example.com|
P3 ? helping people achieve commercial purpose through creative process
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