Friday, February 27, 2015

Evaluating vendor promotions for your client

And, this is a good promotion because? Sometimes clients will come to a media buyer/planner and ask if a vendor promotion is a good deal. It becomes the buyer’s responsibility to look at the promotion and evaluate it to see if it makes sense financially. In addition, it needs to serve a purpose for the client’s audience.

First, it helps to research to make sure that the investment spend is worth the estimated exposure. For example, a vendor may say that a client will receive 20x mentions weekly that are :30 seconds in length. They may run this for three weeks and give the client a value of exposure at $5,000 gross. This breaks down to $83.33 per mention for the full three week run. As a buyer, you know that :30 inventory is actually valued at $50 per spot with this vendor. This equates to a buyer not recommending the promotion. However, the :30 inventory could be valued at $100 per spot, and this opportunity is a good value.

A buyer will also check ratings or impressions on the opportunity by putting together a dummy schedule within the same parameters. That way, a buyer can really see if there is value.

Now, a buyer has to look at exposure in a creative way. Does it make sense for the client to give out coupons on-air in exchange for on-air and online mentions? Is this vendor a major media source for the client’s target audience? Can the client allow winners to stay the night at the place of business? Will the client provide airfare to send winners to a grand prize vacation? There are a lot of details that need to be discussed between the buyer, client and vendor.

It’s key to make sure all parties are aware of his/her responsibilities for a promotion. At the conclusion of the event, it is highly recommended to track the success with pictures, air-checks, enter-to-win databases, and increase in sales and foot traffic during the specified timeframe. 

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