An Individual Media Channel Deep-Dive Audit is a meticulous and in-depth analysis of a specific paid advertising channel, such as TV, Paid Search, or Paid Social Media.
Unlike broader audits that cover multiple channels, this audit delves into the finer details and complexities of a single channel to provide detailed insights and recommendations.
The objective is to dissect every element of your investment in that channel.
By conducting this deep-dive, advertisers can uncover channel-specific inefficiencies, validate strategies, and optimise performance to ensure that each penny spent is maximising its potential.
Challenges Addressed:
- Channel-Specific Inefficiencies: This audit rigorously examines the specific paid advertising channel to identify areas where resources may be underutilised or wasted. By focusing solely on one channel, such as TV or Paid Social Media, it becomes possible to pinpoint inefficiencies and lack of effectiveness that are often overlooked in broader audits, thereby enabling a more effective assessment.
- Lack of Granular Insights into Channel-Specific Performance: A major challenge in advertising media is the absence of detailed insights into channel-specific performance. The Individual Channel Deep-Dive Audit addresses this by providing an in-depth analysis of metrics and KPIs unique to each channel using our proprietary methodology, offering a clear understanding of the channel’s performance and areas for improvement.
- Difficulty in Benchmarking Channel Performance against Industry Standards: Often, advertisers struggle to compare their channel’s performance with industry benchmarks, leading to uncertainty about their competitive standing. This audit facilitates a thorough comparison with our proprietary benchmarks, helping advertisers understand how their channel stacks up and where it can be enhanced.
What This Audit Covers:
- Pricing Analysis against Benchmarks
- Planning Effectiveness Analysis
- KPI Analysis (Deep Dive)
- Additional Comments
- Our Recommendations for Improvement
The Process & Timeline:
- ONBOARDING (Week 1): Discuss the project and explain the scope of work to both the local client and the local media agency.
- DATA COLLECTION (Week 2-4): Collect all required existing media documents and detailed media data for all media investments, for both digital and traditional media channels, using our secured cloud content management platform.
- AUDIT ANALYSIS (Week 5-8): Analyse the actual media data against benchmarks to extract insights and learnings for improvement.
- INTERVIEWS (Week 9-10): Conduct set of 'context seeking' interviews with the key stakeholders (agency and advertiser separately) and process additional information received following the run of interviews.
- REPORTING (Week 11-12): Prepare audit report, collect feedback and comments from both the local advertiser and the local media agency + delivery of the final report + presentation of the final report.
Benefits:
- Granular Insights for Data-Driven Decision-Making in the Specific Channel: By delving deep into the intricacies of a single advertising channel, this audit provides advertisers with granular insights. These detailed findings enable data-driven decisions, ensuring strategies are finely tuned to the unique aspects of the channel.
- Identification of Untapped Opportunities within the Channel: The audit not only pinpoints inefficiencies but also uncovers hidden opportunities within the channel. This could mean identifying new audience segments, innovative ad formats, or unexplored media strategies that could significantly boost channel performance.
- Benchmarking against Industry Standards for Improved Competitiveness: By comparing channel performance against industry benchmarks, the audit offers a clear perspective on the channel's competitive position. This benchmarking is crucial for advertisers to understand their standing in the market and to strategise for improved competitiveness and market share.
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