Best practices in the world of consumer and interactive media require that regular audits be conducted to ensure that the agency and the large amount of money invested are both performing to your company’s maximum benefit. In Europe, reportedly, some 80% of all media purchases are audited. Do you or your management have questions like:
- Did we get what we paid for, did our schedules deliver? Are we owed for under-delivery?
- Are we paying reasonable prices?
- Did our agency manage our media and our finances appropriately and within any regulatory guidelines?
- Are our media processes efficient and accountable?
If your folks can’t answer all of these questions in the affirmative or, worse, don’t know, a consumer media audit is a perfect next step.
Wanamaker/MMI Leads the Industry in Setting the Standard for Media Accountability
Accounting Firms and Internal Auditors Don’t Have the Experience or the Tools
- 360° forensic-style media auditing in the US, covering all aspects
of the media supply chain using empirical data, with no sampling
- Made possible by ground-breaking proprietary automation, Circle Audit®
- Greater media property accountability for media performance
- Delivery & improved guarantee structures
- Increasingly stringent standards as measurement improves
- Accountability for additional media (such as radio) as measurement evolves
- Helping clients understand the extent to which their own behavior may drive inefficiencies
- Development and measurement of Media Performance Criteria to drive and incent greater agency accountability
For over 15 years we have audited consumer media spending across industries ranging from financial to healthcare to telecommunications to QSR and everything in between. Findings run the gamut, however they typically fall into a handful of major categories. Here is what you can expect:
- Media delivery shortfalls vs. plans and purchases
- Costs above industry benchmarks and/or client expectations
- Non-compliant (out-of-spec) media
- Billing reconciliation issues
- Treasury management opportunities
- Process inefficiencies
- Processes which limit transparency and/or subject the Client to unnecessary risk
- Identifying the issues and their severity is crucial to recovering lost value and elevating performance
- It is not uncommon to find that client behavior is one of the drivers
If you would like to learn more about this Consumer Media Best Practice and whether you are receiving maximum value, please call us and we will respond immediately.