As someone who has been a part of the advertising industry for over two decades, I have witnessed the highs and lows of this industry. However, there is one issue that doesn't receive much attention, and that is Unbilled Media.
It poses a significant risk for marketers and procurement professionals engaged in global brand advertising. It is a problem that arises when media is purchased but not billed, leading to wasted ad spend and unaccounted-for media placement.
It is crucial for advertisers to keep track of their media investments and ensure that they are billed correctly to avoid any unnecessary expenses. Failure to do so can lead to a significant financial loss for the company. Therefore, it is essential to have a robust media management strategy in place to mitigate the risks of Unbilled Media.
Case Study
Let me tell you a little story to illustrate this point. I once worked with a global brand (let's call them 'Brand X' for anonymity's sake), who, like many of you, had a significant portion of their advertising budget dedicated to media spend. They were thrilled with the efficiency of their agency, but they had one issue: their financial year-end budget was consistently overrunning, and no one could figure out why. It was like trying to find a needle in a haystack!
After some detective work, we discovered a significant amount of unbilled media. Brand X's contract with their media agency did not include a clause for unbilled media, so they were left to cover the cost of an extra quarter's worth of media every year! It was enough to buy a small island in the Maldives or host a champagne-soaked party on a yacht every year, if you catch my drift.
The discovery was met with an array of emotions, from shock to disbelief and, ultimately, dismay. I'm pretty sure someone even shed a tear! But despite the drama, the key takeaway was that unbilled media was a costly blind spot in their contract, and something needed to be done about it.
Unbilled media may not be the most exciting topic, but it's no laughing matter when it's costing you the equivalent of a fleet of Ferraris each year.
Abintus Recommendations
Fortunately, unbilled media is an issue that can be resolved. The first step is to identify the problem, and a media audit can help reveal these hidden costs, and a revision of your media agency contract can prevent future expenses. At Abintus Consulting, we specialise in helping advertisers reduce ad wastage by implementing media transformation. Our team of experts can assist in identifying unbilled media and taking the necessary steps to address it.
Our efforts in tackling this issue have resulted in savings for our clients that are truly staggering! Your agency contract should work for you and not against you. It's vital to ensure that it covers all aspects of your media spend, including unbilled media, so that you're not left holding the bill, like our friends at Brand X.
So, let me ask you, how confident are you that your media agency contracts fully cover unbilled media? More importantly, how much is unbilled media costing your brand?
Addressing unbilled media isn't just about saving money, but it's also about gaining control and transparency over your media investments. Every penny counts when you're working towards your next big campaign or ambitious project. Don't let unbilled media turn your media plan into a joke. Instead, reach out to us, and let's ensure you're laughing all the way to the bank.
Together, let's put a full stop to ad wastage. Are you prepared to take the first step towards media transformation?
Next Steps
We're here to help you tackle the issue of unbilled media and save your advertising budget. As part of our commitment to aiding global brands optimise their ad spend, we're offering a free media agency contract assessment to all interested parties until the end of this summer (August 31st, 2023).
Our Expert Assessment Report includes a comprehensive scorecard, benchmarks, detailed findings and comments, tailored recommendations, and valuable insights into the best practices required to achieve a best-in-class media agency contract.
To make things easy and secure, this process can be carried out entirely via the Abintus App. We understand the importance of confidentiality in such matters, and we've made it possible for advertisers to e-sign a Non-Disclosure Agreement (NDA) and upload their media agency contracts directly onto the platform.
Why wait? Don't let unbilled media drain your advertising efforts. Take advantage of our free contract assessment offer today and get started on an optimised, transparent, and cost-effective ad spend strategy. Remember, this offer expires at the end of the summer (August 31st, 2023).
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