Industry Benchmarking
While a media audit evaluates a buy’s performance against internal guidelines and targets, industry benchmarks allow an advertiser to evaluate how the buy performed against the market as a whole or within a competitive category.
isd’s benchmarks evaluate the cost efficiencies of client media buys versus
- a pool of other advertisers on a like-for-like basis
- year-on-year efficiencies
- market data (rate card versus negotiated)
They provide key insights into buyers’ negotiation skills and ammunition for enhanced negotiations and future buys. While it is worthwhile to use the market as a guide, it can be more beneficial to establish and benchmark business goals that continuously improve the value and efficiency of delivered media. This is especially true for large advertisers who should expect to achieve better efficiencies than market average.
In this regard, industry benchmarks help identify cost-reduction opportunities — by network or station, timing, seasonality, special requirements, and other cost/quality tradeoffs — and are a perfect complement to a media audit.
There is no substitute for advertisers who are serious about improving their media performance and achieving an industry-leading position.