With advertisers wondering where their money is going and whose interests are being represented, how do agencies and brands ensure they are doing their due diligence to be transparent with one another, and also receive transparency from their media vendors? 2017 brought about a firestorm in the digital marketing world as many companies – large and small – learned they didn’t have any insight into where their ad dollars were actually going, and thus, no insights into how their brand was being represented.
Key Stats from the Episode:
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According to the World Federation of Advertisers (WFA), 70% of advertisers have changed their media contracts in the past year to add specific clauses to clarify contentious aspects such as rebate and data ownership. (source)
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The WFA also found that 89% of advertisers limit, or plan to limit, spend in ad networks that are not independently verified. (source)
In this episode of The Marketing Remix, “Media Transparency: Building Relationships with Clients Through Data & Conversations,” Emily Spears, Media Manager of Display and Social Advertising, Lauren Curtin, Business Manager, and Reid Carr, CEO of Red Door Interactive, discuss how to prevent media buying from happening in a vacuum.
For more details about what we discuss in this episode, continue reading below.
Transparency in Business
Just like all arenas of business, transparency about where your money is going and what outcomes it is producing is essential when dealing with a media agency or vendor. After all, no good relationship is built on lies or non-communication. Our experts recommend that brands keep in mind a series of questions when vetting a media agency and what media platforms they are using.
What to Ask When Talking to a Media Agency:
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Is your agency communicative and available? Will they be willing to hop on a call to explain the intricacies of your brand’s media plan if necessary?
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How will the agency and your internal team align on expectations and goals? How will discussions occur if these need to shift quickly?
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Does the agency provide live dashboards or platform logins to track performance in real time?
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Will the agency provide more details than just performance and spend? Ask about visibility into keywords, targeting, and geographic markets where your ads are live.
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Where will your ads be running? Is this represented in your contracts?
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What are the reasons for choosing a particular vendor or platform? This information should help you determine whose interest is being represented first.
What to Look for in a Media Platform:
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Performance will always be top of the list, so make sure you know how your dollars are performing.
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Transparency with a pricing model (especially with programmatic).
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Know the fees. What percentages of the CPM you’re paying are going to what fees?
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Insights into what they are running, and where – can they provide you a site list of where your ads are running?
Further Reading on the Topic:
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https://www.reddoor.biz/blog/how-to-choose-a-digital-advertising-vendor/
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https://digiday.com/marketing/state-brand-crackdown-media-transparency/
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