Has your CPO or CMO asked you how much money the company is spending with creative agencies... globally?
It is not an unreasonable question, yet many large advertisers rely on spreadsheets, multiple meetings, and numerous emails to answer what should be a simple question.Yes, the finance team can provide the high-level budget information, by brand, but they typically can’t drill into the details of the spend. The individual brand teams know their specific spend details, but when it comes to rolling up that information across all brands, regions, and company divisions, that collating process takes weeks and sometimes months. By the time each market provides their details, the data is obsolete and doesn’t provide a real-time perspective of the agency engagement activity.
When advertisers automate their agency management processes, they not only drive efficiencies, improve data accuracy, and capture real-time data, they also enable data-driven decision making with business intelligence.
“More than ever, marketing procurement teams in large advertisers need access to data visualizations to help them make important performance and investment decisions. Decideware can facilitate immediate insights; whereas before, clients may have needed weeks to answer common questions. Secondly, we’re increasingly providing clients with widespread access to data across their markets and across their marketing teams at their points of decision making. And more than ever, agencies are asking for access to data visualizations for approval status to help them manage their operations more efficiently. These are all exciting initiatives made possible with the right expertise, good data and custom designed visualizations.” – Eugene Motov, Business Intelligence Manager at Decideware.
Business intelligence and the use of dashboards have become the preferred and respected model allowing companies to make informed business decisions in real-time. Business intelligence can transform organizations and allow them to react quickly to market dynamics and budget shifts, plan better for the future, and enable a new model for value creation.
Here are a few examples of how Business Intelligence is helping large advertisers:
Example 1 – Reacting quickly to Market Dynamics
A global pandemic hits and the CFO needs to claw back marketing dollars for projects that have not yet started... a Scope of Work Dashboard can instantly provide details on which projects haven’t started and the total value of those projects, by brand, by market.
Example 2 – Plan for the Future
The company has set Diversity, Equity & Inclusion goals for the year and the agency ecosystem is included as part of those goals. An Agency Diversity Scorecard, via Business Intelligence dashboards, can capture Tier 1 and Tier 2 spend, the diversity mix of the agency team, and assurance that assets and the make-up of the agency team are representative of their customer base.
Example 3 – Enable a New Model for Value Creation
A Business Intelligence dashboard can help a company compare the level of value agencies are providing based on KPIs (Strategy, People, Process, Innovation, Quality, Cost, Reliability, etc.)
Decideware helps companies with large advertising budgets move beyond Excel spreadsheets to a fully automated process that produces rich data insights using Business Intelligence. Whether the process is used for agency rosters, agency performance evaluations, scopes of work, or production management. The ability to manage agency relationships more effectively and efficiently with Business Intelligence brings greater value to the advertiser as well as the agency.
Eugene Motov leads Business Intelligence at Decideware. He works closely with the Services team and clients to develop customized solutions to each client’s unique needs and problems. Eugene brings over a decade of experience of problem-solving through Business Intelligence solutions with data analytics and visualizations.
To learn more visit www.decideware.com or email Steven Wales at email@example.com.