Media transparency is the talk of the industry, but the real issue is ensuring you are getting the value and performance from your media investment. Transparency gives you access to determining the real value of your media spend, with these tips on how to achieve it.
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1. Ensure that your contract is compliant with best practice. The intricacies and complexities of a media agency supplier relationship need to be clear up front.
2. Enforce your contract regularly, not at point of crisis. Too often, the contract gets put in a drawer and forgotten about until there’s a problem. Don’t let the agreement become slack or complacent.
3. Review your contractual terms at set intervals. The landscape is constantly evolving and your media agency agreement needs to flex with the change.
4. Get under the hood and ask the right questions. Your agency should be able to explain everything it does in simple, transparent terms.
5. Work with the right people. If key people on your agency team are the wrong cultural fit, ask your agency to change them and have input into the selection process.
6. Keep abreast of industry developments. Doing so will help you ask the right questions of your agency.
7. Insist on the removal of black boxes. Ask to have direct access where necessary to specialists working as part of an extended agency service (e.g. the agency’s programmatic trading desk).
8. Educate your team. The complexity of media agency operations exists all the way from leadership through to campaign administration, so you need to ensure that your team is savvy, through the line.
9. Interrogate the media plans, and the invoices. Ask for explanation of any unclear line item cost on your media plans, and establish rigorous internal reconciliation process.
10. Contact TrinityP3.