A strategic consulting approach that leverages ID Comms expertise to help company executives identify competitive advantage in media and marketing.
Changes in traditional consumer behaviours, the digital revolution of content consumption and the rapid development of challenger and disruptive brands in every category have placed huge pressure on large companies. You need to adapt your business and particularly your marketing approach if you want to maintain current share and even grow. The main battleground for success is now the way you manage the media spend that connects your brands to consumers. Simple economics determines that those brands that can make their media dollars work harder than their competitors will reach and engage with more consumers, have a greater influence on consumer behaviours and drive better business performance. It’s critical that senior C-Suite executives take a lead in this area. Media budgets should be considered an investment in company growth, efficiently and effectively connecting a company’s brands with consumers. The ID Comms Media For Business™ approach will lead senior (non-marketing) Executives through a process designed to frame your challenges, identify the best strategies for your media management and give practical counsel on future proofing the company’s media investments.
“We brought the Media For Business approach to our CFO as part of a wide-scale strategic review of our marketing spending. It was important for the “bosses” to see what we were trying to do. As an independent external perspective, ID Comms was really helpful in framing the challenges, bringing examples of best practice and helping us refine our strategies for marketing investment. We now have a management team here which is incentivising collaboration between marketing and procurement in media, which is a huge step forward”
Objectives of Media For Business™ :
- To support CMO / Senior Marketers in raising the profile and performance of media within the organisation;
- To foster an understanding at Executive level of media as an investment in growth for the company rather than a cost to be managed downwards;
- To bridge the knowledge divide between finance, procurement and marketing;
- To frame the challenges of media success / failure for a company’s senior management stakeholders;
- To encourage non-marketing executives to understand and take interest in significant company investments in media, as part of the wider marketing mix;
- To provide a benchmark against industry best practice;
- To guide the development of company strategies for media management; and
- To illustrate and emphasise the importance of having internally aligned objectives (for example, balancing growth versus cost control).
ID Comms will provide you with:
- A one-hour “Introduction to Media for Executives” scene setting;
- A one-to-one interview session with key stakeholders;
- A presentation deck of findings, benchmarked against similar companies; and
- A workshop session with key stakeholders to help you identify key strategic pillars for the company.
The questions that the Media For Business™ process will address:
- Media is complex, where should we start if we want to be better?
- How should we manage our large media spend?
- How do we know what to spend and what works?
- Should we be spending more or less?
- What does competitive advantage in media look like?
- What oversight / governance do we need in this area?
- How do we correctly incentivise our people (mostly marketing and finance) to get the best performance from our media investments?
- How do we compare to other brands in our category and best practice?