Advertisers Indicate They Are Getting Good Service and Value from Their Media Audit Providers
BOCA RATON, Fla. - At the Association of National Advertisers’ annual Advertising Financial Management Conference, the Media Audit Council (MAC) presented results of a recent survey as part of the conference’s “Insights From Advertisers Who Have Embraced Media Audits” panel discussion. MAC had conducted the survey to better understand perceptions of marketing and procurement professionals on various media auditing topics.
Marketers in the US have been slow to adopt the practice of media auditing when compared to other regions, particularly Western Europe. The MAC survey results indicate that US advertisers are catching up to their international brethren. 85% of all survey respondents indicated they are currently doing or have done a media audit in the prior twelve months. Among these same respondents, only 36% indicated they have been doing media audits for more than three years. This information supports a trend previously noted by the MAC when it compiled a list of America’s most valuable brands and determined that 60% of them are current MAC member company clients.
While advertisers reported numerous objectives they are looking for in a media audit, more than 90% of respondents indicated the most significant objective is to ”improve the effectiveness of their media investments.”
Other Survey Highlights Include:
- 65% of all respondents indicated that the media audit pays for itself (i.e. savings more than offset auditor’s fee)
- More than half of the respondents indicated an improvement in value of media investments of 6% or greater while 14% reported increases in excess of 10%.
- Advertisers are generally pleased with their media audit company partners, responding positively
across a wide variety of attributes and more than 80% agreed with statements indicating that they agreed that there was “value received for the fee charged” and “works collaboratively with my agency.” The latter is encouraging news for advertisers since a frequently cited concern regarding media audits is the potential harmful impact on agency/client relationships.
- Advertisers who have conducted media audits appear to be quite satisfied with the service they are receiving from their media audit agencies with 86% indicating that they get “good service” from their auditors.
In addition, respondents were asked to answer some open-ended questions to enable the Media Audit Council to compile a number of best practices tips on a range of subjects including: how to overcome obstacles when introducing an audit and concerns over agency relationships as well as advice you would give to a colleague at another company about conducting a media audit.
“Media auditing has long been considered a confusing practice and is often misunderstood,” said Jim Garrity, President of the Media Audit Council. “It is gratifying to see broader adoption of the practice by leading marketers and the satisfaction they are reporting with both the value and benefits of the audits as well as their overall satisfaction with the service they are receiving from their media auditing partners”
This survey was conducted online during the months of November and December, 2011. Advertiser, Media and Marketing decision makers in the marketing, media and procurement disciplines within major US advertisers were invited to participate. Existing Media Audit Council company customers were invited to participate as well as members of the ANA Advertising Financial Management Committee and all participants in the ANA Advertising Financial Management (AFM) LinkedIn Group. For a copy of the Executive Summary Report of the survey, please visit www.mediaauditcouncil.com/2012/survey.
About the Media Audit Council
The Media Audit Council is a non-profit organization of US media audit consultancies created to help advertisers and agencies better understand the types and advantages of media auditing. Media audit member companies bring advertisers an independent evaluation of their largest budget line item – Media. Their goal is to simplify the complex world of media planning and buying by utilizing powerful tools and techniques to improve and maintain media value and efficiencies in the long term
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