However, it can become pricey when you spend money on digital media. This spend is used to promote a brand using various digital media platforms like Google, Facebook, or LinkedIn.
The reason why digital media marketing works so well is that
it can be tracked — unlike other more traditional above the line marketing initiatives like TV, radio or print advertising.
Since nobody likes to part with hard-earned cash, it is important to carefully consider who you partner with to run your digital media campaign. And to do this, one
must ask the right questions.
Here are the seven questions that you should ask your prospective digital media partner before making your final choice:
1. What services do you offer?
You must look for an agency that either offers a group of specialist functions running congruently
or specialises in a specific function. It reduces the ability to hide poor performance across services and it ensures that all other suppliers are working towards the same goals but are measured independently.
2. How do you define and measure media performance?
Look for a partner that focuses on performance gains consecutively with a KPI metric of a business aligned goal, which can be improved on over time.
3. What factors will affect the media performance?
This question shows whether your media partner understands the integrated factors affecting their delivery and how those can and should be mitigated to achieve their performance.
4. Do you have a risk model or incentive structure to propose?
The best in the game often has a view and understanding of how to drive performance for a business. It shows that they understand and are aligned to your business needs and has some skin in the game.
There are some complexities that link back to the performance levers and the dependency on other partners, but these can be defined in advance and helps the marketing manager understand the key elements to manage between partners.
5. How do you charge?
This is a tough question that will have many different answers; most, if not all, are valid and fair. Look for an answer that is between a set cost to cover overheads and the servicing of the account and a performance-driven percentage that will drive alignment to the business.
If spend is particularly complex and large, a percentage of media spend would also be applicable. Set percentages on fluctuating budgets is a red flag, especially if that is the only method of fee structure.
Long, predefined media spends and commitment to channel would also be of concern as it means they may be lacking transparency in the pricing structure.
6. Can you share your list of media partners and the transparency of media buying with me?
What does this mean and why would you ask this question? It is a longer, more involved conversation.
The crux of it is that if your media partner is charging a management fee for buying media, and your agreement is there should be no further costs ,then you have the right to ask your media partner for insertion orders or view access to your media channels they are managing on your behalf.
If it is transparent, then access should not be a challenge. This question also shows the breadth of media reach your partner could and would offer.
7. Do you currently have a client in our category or have you ever had a client in our category?
This is not that simple to explain but from the onset, media buying
should have exclusivity from running category competitors. In many countries and sectors, agencies have more than one or two competing brands.
You want to clarify if they have 'experience' on a previous brand in your category and if the people that have the experience in that category are still with the business. This is often missed in the way the question is asked and how the prospective agency partner answers.
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