The company ultimately decided to retool its marketing analytics by applying the attribution, optimization, and allocation framework to its entire game portfolio. EA had been measuring advertising performance using traditional methods such as customer surveys and media-mix models, and it had been attributing year-to-year and title-to-title variations in sales to creativity in advertising and game quality.
Marketers are also using analytics 2.0 to run what-if scenarios for advertising new-product launches, ad buys in markets where data are limited, and the potential effects of surprise moves by competitors. For instance, as a global consumer electronics company client of ours was preparing to launch a game-changing product in an emerging market where historical sales-marketing data were scarce, it used advanced analytics to review advertising behavior by competitors and accurately predict their spending for upcoming releases. Using those predictions and optimization scenarios, the company successfully entered the market with a much clearer understanding of the strategic landscape and adjusted its plans quickly to address new competitive dynamics.
Analytics, once a back-of-the-house research function, is becoming entwined in daily strategy development and operations. Executives who were pioneering early digital marketing teams 10 years ago are advancing to the CMO office. Already wired for measurement, they are often amazed at the analytics immaturity of the broader advertising industry. These new CMOs are taking more responsibility for technology budgets and are creating a culture of fact-based decision making within advertising. Technology consultancy Gartner estimates that within five years, most CMOs will have a bigger technology budget than chief technology officers do.
Second, assign an analytics-minded director or manager to become the point person for the effort. It should be someone with strong analytical skills and a reputation for objectivity. This person can report to the CMO or sit on a cross-functional team between marketing and finance. As the project expands, he or she can help guide business planning and resource allocation across units.
Third, armed with a prioritized list of questions you seek to answer, conduct an inventory of data throughout the organization. Intelligence that is essential to successful analytics 2.0 efforts is often buried in many functions beyond marketing, from finance to customer service. Identify and consolidate those disparate data sets and create systems for ongoing collection. Treat the data as you would intellectual property, given its asset value.
Media buying is a process used in paid marketing efforts. The goal is to identify and purchase ad space on channels that are relevant to the target audience at the optimal time, for the least amount of money. Media buying is a process relevant to both traditional marketing channels (television, radio, print) and digital channels (websites, social media, streaming). When done effectively, media buyers achieve maximum exposure among their target market for the least amount of spend.
Media buyers oversee the media buying process, with input from the media planning team. With an understanding of marketing goals and target audience preferences given by the media planning team, media buyers execute the actual purchase of the advertisement space. A huge part of the media buyer position is negotiating with the sites, networks, and other channels they want ads to appear on. They must ensure they are purchasing the correct placements at the correct times, for the correct duration, all within strict budgets.
Effective media buying goes far beyond the actual transaction of money for ad space. Media buying teams can create impactful relationships with media owners that result in greater reach with less investment. This enables marketing teams to increase conversions and demonstrate high ROI to clients and stakeholders.
As with all marketing initiatives, investing in experienced media buying teams and processes means demonstrating value. To do this, media buying teams need analytical capabilities that allow them to attribute conversions and KPIs back to a specific ad. They also need access to real-time metrics in order to make in-campaign updates to ads that are underperforming. The top challenges when it comes to media buying are:
The most important role of a media buyer is that of the negotiator - this ensures that clients are getting the most value for the ad space they purchase. This means working with media companies, leveraging best practices on how to get the most return for an ad placement, and developing specific contracts. As media buyers execute on media plans, there are a few negotiating tips they should keep in mind.
Media buying is highly nuanced, with a lot of pressure placed on acquiring the optimal ad placement for customer experience and conversion. By staying abreast of top media buying strategies and negotiation tactics, media teams can better optimize spend and strategy.
At Booyah, you speak to the experts directly. Our account teams and media teams are one in the same. This means no game of telephone between departments. Your team hears it straight from you and gets to work.
In 2020, media buying agencies are squaring up against a two-headed existential problem: a sprawling data integration puzzle on one hand, and a relentless pressure to differentiate and preserve margins on the other.
Next-generation media buying involves a mix of hard and soft skills - of data integration and data storytelling - that most legacy agencies are simply not staffed for. They need to be able to quickly stitch dozens of sources of data together into a compelling story that they can make business decisions off of. In other words, they need to build a latticework of data to get to the insight.
Advanced targeting capabilities give you the ability to reach your ideal consumer utilizing the most popular ad formats and video lengths. Detailed and transparent reporting gives marketers real-time feedback on video-specific performance metrics such as viewability, completion rate, mute rate and more. Beyond CTV, short form video has grown across publisher websites, mobile apps and social media.
Target, measure and report on social media ad campaigns. Marketers can plan and manage campaigns' budgets as well as the performance of their social media campaigns alongside their programmatic CTV, video, display, and native campaigns. Take advantage of a single interface with comprehensive visibility into campaign performance via unified reporting. We support all targeting and measurement capabilities that exist within Facebook & Instagram.
Our comprehensive accounting system includes billing, accounts payable, general ledger and more. Real-time data and updates are centralized, communicating across systems, which seamlessly integrates your accounting with your media planning/buying and project management.
A central location to plan, buy and manage all media types including broadcast, digital, print and out-of-home. Our complete media platform streamlines your media workflow from planning to buying and reporting. The entire lifecycle of your media will have a digital record that you can access in real-time. Orders can be generated from media plans, which automatically creates billing records. Electronic communications, makegoods and powerful campaign monitoring tools increase efficiency.
Media Buying Systems has developed media planning and data analytics tools to support users throughout the entire process
from initial media plan through evaluation and billing and everything in between.
MediaView efficiently creates the optimal plan for an AV campaign, purchases, monitors performance and evaluates the campaign.
With the Mediaview Dashboard, our users inform advertisers about the performance of their Audio, Visual and Online campaign.
Most of the airtime purchased through Media Agencies runs through Media Buying Systems' systems. With that, Ad Alliance benefits from a strong and decisive software house that acts as an important partner through which the media agencies make their bookings with us.
Media Buying Systems has met this need for years and has become an integral part of the Dutch television landscape where commercial airtime is concerned. As Ad Alliance we lean heavily on this and can count on it.
Dentsu has years of experience with Media Buying Systems' advanced tools. From TV and Radio Planning and Reporting tools, to the most recently developed MedieView Dashboard.
The dashboard allows us to evaluate our cross media campaigns with our clients in a new way, and it gives our clients the opportunity to watch in real time as the campaign unfolds.
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