Leverage a scorecard to evaluate media partners
You have a campaign launching in 30 days and have shared your objectives, Key Performance Indicators, target and budget with your agency. Now it’s time to evaluate your media team’s selection of partners trusted to execute on strategic deliverables. You’re feeling, quite reasonably, nervous about giving your final stamp of approval. You are not alone – with the range of today’s publishers, platforms and performance models carving up the media universe from a multitude of angles, decisions can be daunting. Pharma’s added layers of safety and privacy requirements only serve to further complicate the matter.
Having a decision-making framework for memorializing who makes the cut is essential, and this can be made surprisingly simple in the form of a scorecard addressing key quantitative and qualitative measures. Here’s how to get started.
Identify Key “Scoring” Criteria
Criteria should be weighted based on your campaign’s unique parameters, considering such diverse dimensions as professional target list match rate, depth and frequency of response data provided, historical engagement rates, quality and relevance of the editorial environment, overall target audience reach, viewability and cost efficiency. Seeing quantitative and qualitative factors side by side and highlighting key capabilities and offerings can reinforce confidence in your campaigns’ media partners. Factors that often rise to the top for scoring include:
- Proven performance – the partner delivered successful metrics in previous campaigns
- Comprehensively aligned proposal – the proposed plan meets the objectives and parameters of the campaign objectives
- Reach against the selected target audience – the partner has demonstrated its ability to scale across your targeted audience
- Stand out against the competition – when evaluating against “like” vendors in the market, this partner was successful in differentiating its platform
- Transparency and measurement capability – the partner offers extensive and valuable measurement tools that can help track business goals and objectives important to your brand and organization
Once your core needs have been identified, categorize them and assign scores from 1 to 10 alongside key parameters and differentiating takeaways. This serves as a “pros and cons” list, grading core capabilities and ending with a total score adds clarity and expediency to decisions as all relevant information is centralized in black and white.
With this simple tool, understanding media plan partner selection becomes a replicable process that can inform future campaigns and lead to stronger alignment between your brand and agency partners.
What ‘hacks’ have you found helpful in selecting media partners? Drop me a message in the comments below!