HOW IS YOUR MONEY BEING SPENT?
There is an old joke that a business owner knows that half of their advertising is working, they just don’t know which half. In earlier days when digital tracking was unavailable, this joke held more truth than laughter. Now in the digital age, there is a metric for every microcosm of your campaign. How do you stay up with the performance versus the costs of a marketing campaign? Start by performing a media spend analysis.
A media spend analysis is a comprehensive look into all the facts about your paid media accounts. This audit examines how much you are spending as well as the performance, tracking, and strategic positioning of the media. This report will lend insight into ways to optimize the media for greater results. The final report will provide these details about each paid media you currently utilize.
Like all our services, the media spend analysis report that Boiling Point Media will create includes complete transparency about our research. Biases towards any specific medium is removed so that you will have a clear picture of your paid advertising mediums as well as the medium’s direction and viability. Any free analysis of your media spend can audit your account’s current performance, but at Boiling Point Media we provide you with real, valid, and profitable insights.
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When our OKC ad agency performs a media spend audit, we comprehensively examine your paid media and all of the results from your paid media. When auditing, we look for a mobile strategy, media strategies that are aligned with overall business goals, campaigns and media groups that are organized into logical groups, management of online reputation, clear and consistent messages with strong calls to action, as well as the proper use of other media channels. Our report will include:
STILL HAVE QUESTIONS? NO PROBLEM!
A media spend represents the amount of money a business spends on advertising. This includes all forms of advertising such as content marketing, SEO, television, billboards, trade shows, and much more.
A media spend analysis is the complete analysis of where all of the advertising and marketing dollars are being spent compared to the results of the advertising mediums as well as return on investment
CPM is the abbreviation for Cost Per Thousand and utilizes the roman number M for 1000. CPM is used for determining the amount of money spent per 1000 people. This form of measurement has become the standard in determining large volume pricing
Spend analysis is important because you are not in the business of overpaying for your marketing efforts. Spend analysis provides insight & knowledge into your organization's advertising expenditures and their overall effectiveness while identifying areas for cost reduction and improvement.
To perform a proper media spend analysis, the following steps should be followed:
- Pinpoint - find all places that marketing dollars are being spent
- Purify - ensure data is good data
- Categorize - place data into different groups identifying purpose
- Analyze - review data for effectiveness and overspenditures
- Repeat - a few times a year to make sure spending is under control