- To develop an audit process that provided them with a client-specific, multi-media method of analysing and presenting their quarterly advertising performance. This, in turn, would link to internal sales data and enable them to fully track ROI.
- To identify and develop opportunities for consolidating their media buying and to provide them with guidance on potential savings over a 3-year period.
What We Did
At our initial consultation with the client we explored the following areas:
- What do they want to get out of the audit process?
- What was their ideal advertising budget?
- How are they splitting their media spend?
Feedback to these key questions was supplemented with valuable insight of their competitor market to enable us to provide a complete diagnostic of how to audit their media via our “Customer Journey Audit”.
Creating the “Customer Journey Audit” allowed us to pinpoint what platforms required analysing within the campaign cycle. This required working closely with their media agency to ensure they would provide the correct data for the audit. This relationship is essential to creating the “Customer Journey Audit” and many agencies can fail at brief by not providing the level of data required.
In addition we also helped establish zero-based budgeting within the organisation to drive improved financial management and business performance. Zero-based budgeting has a proven track record in enabling all types of businesses to better understand and manage their costs. Our service is designed to help answer the key questions for business teams who find themselves under pressure from senior management to provide diligent financial management and effective business performance.
After conducting a “Customer Journey Audit” and analysing the company’s current performance across the media platforms they use, we identified a potential issue with their media delivery. Despite being in line with the market on price and quality, metrics across traditional media were not following how customers were actually interacting with the brand. As a consequence the awareness and engagement were not in sync, resulting in media wastage and ultimately excessive spend.
The digital element of the analysis, which primarily focused on the end user, was also fully reviewed by 23 Media Audits. This resulted in the identification and creation of missing metrics to complement the traditional media and provide the brand teams with a full understanding of the pressure points throughout the customer journey. The client received a quarterly “Customer Journey Audit” that delivered a quality, competitively priced level of media fully aligned with their strategic thinking.
Our zero-based budgeting consulting service enabled us to advise the client on a best practice approach to setting up the system, establishing standard business processes and ultimately show how competitive advantage works in zero-based budgeting. Finally we were also able to help define and assign the necessary roles and responsibilities for zero-based budgeting, including a standard monthly and annual process for management and reporting.
The findings from the “Customer Journey Audit” enabled us to advise on a series of initial changes (such as a reassessment of their level of digital investment) and set further goals for medium to long-term implementation. These normally involve a re-work of the client’s advertising budget based on our recommendations and knowledge for the most effective use of that investment.
In addition to creating a solid foundation for communication between the company and its advertising team, we pinpointed those areas where the client should continue investing as well as new more creative ways to invest any residual spend for optimal results. After carrying out these analytics, we discovered that we could not only reduce their media wastage, but also increase their ROI by 10%.
Consequently, we advised the client to focus on these changes and work on building a solid foundation with their advertisers going forward. By repeating this process over a number of years, we have consistently been able to secure this company savings and help them stay ahead of the curve.