Marketing, Meet Finance

Advertisers were rarely featured indeed back then there was almost a paranoia around anything that could be described as sharing secrets outside the organizationToday at least on my feed you can39t move for tweets and posts from those charged with a media responsibility within advertisers Conferences are full of these guys hardly surprisingly It39s easy to justify paying if you39re going to hear from the top media guy at Client AMultiply this up and the ANAs WFAs and ISBAs representing as they do lots of advertisers speak with an even greater authorityThis is all well and good when the matter under discussion is around a point of principle Everyone agrees that the lack of diversity in our business is shameful it is a very good thing that the likes of Jerry Daykin of GSK uses his platform to champion changeBut and I don39t mean to demean Jerry39s efforts in any way this hasn39t really put GSK money at risk Yes of course it39s cost Jerry time and no doubt GSK like many others has set up programs to deliver on the promise But it39s money behind a cause nobody can argue withLet39s take another cause close to advertiser hearts cross media measurement Hardly a headline matter nor something that nonmarketers can get uncompromisingly behind and yet it is one that anyone who understands anything about how media funds are allocated agree is importantIf we are to increase the chances that commercial messages end up delivering a business benefit then we need the tools and the evidence on which to base plansBig advertisers are vocal in calling for a robust system of crossmedia measurement Of course they are They stand to benefit from better budget allocationSooner or later the vocalists are going to have to face up to one of several optionsFirst agree to pay Imagine the conversation with the procurement teams Marketing has enough trouble convincing their finance colleagues that marketing beyond the very shortterm stuff works at all Now are we seriously expecting that they39re going to convince them to pay for something that delivers a benefit in better plans That39s a hard sell and they know itSecond offload the responsibility to someone prepared to carry the cost Google and Facebook to name but two would no doubt be delighted to spend a few million resourcing the program if the prize is to shape planning measurement for decades to comeThird have the industry pay Everyone contributes a little a fund is generated a team is hired a plan is built Work is done objectively for the benefit of all I would feel a lot more confident selling that to a finance director we39re paying our bit everyone else is paying their bitFurthermore if the mechanic is a levy as I39ve suggested then no extra money need be involved Here39s a Janet and John example as to why notAn agency writes a plan to spend amp1631000 They select four magazines and plan to buy four insertions in each sorry for the antediluvian language feel free to insert the word quotprogrammaticallyquot in here if that helps They39ve calculated that 4 x 4 or 16 insertions is the best plan to reach their objectivesBut because the agency buyer is big and butch he buys 18 insertions negotiating five in two of the magazinesYes 16 was the optimal number defined by the plan 18 is surely better more goodies to impress the auditor and the clientBut what if the agency bought to plan and saved the money After all the plan was based on somethingAnd what if that money funded an industry research programThe agency buys the plan the client has approved No more money has been spentA levy doesn39t have to involve more money although of course it can if it39s planned for upfront it can be funded via the buyWe are living in a world of vocal advertisers a good thing tooBut it39s time for these guys to start thinking about how to pay for what we all agree they needFine words butter no parsnips as my dear old mum used to sayClick the social buttons above or below to share this content with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writers

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Marketing, Meet Finance

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Brian Jacobs

FEMA and the Ad Council Encourage AANHPI Communities to Enhance Disaster Preparedness in New PSAs - Ad Council InSites

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