The relevance of media auditing has been challenged of late. In an article for The Drum, our CEO Fredrik Kinge agrees that the old-fashioned way of auditing no longer meets the requirements of the modern marketer. However, he goes on to explain that a modern, forensic approach to media audit – an approach that takes into account an increasingly complex and rapidly changing landscape – is more relevant than ever.
Here’s an excerpt from the article:
Auditing must modernize and take a more granular approach to harnessing pool data: one size no longer fits all. A KPI framework that optimizes the advertiser’s ROI and strengthens their ownership is crucial: modern auditing needs to incorporate quality KPIs and spend effectiveness in order to deliver value to advertisers. One of the main accusations levelled at auditors of late is that they are unable to effectively audit digital and programmatic advertising. But it is very possible for contemporary auditors to audit digital and programmatic. Of course, a deep understanding of digital media and technological advances is crucial, as is the ability to adapt to a rapidly changing landscape and apply that understanding to auditing practices.
Whether or not media space is purchased at auction, the fundamental components of good media planning and buying remain. Did the agency recommend the best media strategy, including the most cost efficient and well-negotiated investments and buying settings? Was the media plan delivered as agreed? Did the agency use their discretion to optimize ROI by, for example, shifting investments between audiences, dayparts and contexts? It’s always worth remembering that just because something is biddable doesn’t mean that it is automatically optimal and cost-efficient for the advertiser, in line with the campaign brief.
Proper evaluation of media agency performance must maintain 100% focus on the advertiser’s brief and what is possible in the market. That means evaluating the efficiency and effectiveness of the agency’s work and decisions within those constraints.
Read the full article here.