What to Expect From Your Performance TV Partner
As we near the end of a challenging 2020, it is worth taking a look at your key partners to make sure that you are getting what you need from your relationships. Now, more than ever, you need partners that you can trust to work with you, to be invested in your success, and are willing to go beyond their stated scope to help you grow your business.
Your performance TV partner is key among this list. They account for a major share of your marketing budget, and they should be out-punching their weight when it comes to providing value. Securing competitive pricing is table stakes. Even the best CPM can’t compensate for a lack of insight, category knowledge, and proactive thought leadership.
Here are five characteristics that your performance media partner should have in order to keep your business in 2021:
1. Creative capabilities. A full-service agency provides the most holistic view into your campaign. If one partner is managing both creative and media, they will be in sync with performance and will be proactive in making testing and optimization recommendations – they are fully vested in media and message. Even if you have an in-house creative team, or a creative AOR, your performance TV partner should have creative expertise in generating response. If they are only optimizing the media schedule, they are missing a large part of the equation. Is your message compelling enough? Does it connect with the target on an emotional and rational level? Is the offer and call-to-action strong? Only experienced creatives can make that call. And even if they aren’t scoped to produce your commercials, your media partner should have access to these creative minds.
2. Advanced technology and analytics. Data has become king, but you need to know how to capture the right data to measure your campaign, and you need to be able to attribute response in order to evaluate performance and optimize your program. Is your TV partner well versed in all of the leading digital attribution technology? Do they have software that can allow different technology to work together seamlessly, so your buyers can focus on optimization instead of data manipulation? Data is only valuable if you can access, evaluate, and act on it.
3. Thought leadership. Who are the most senior people working on your business? Do you have access to them regularly? Are they contributing thinking to your business? Remember, you are paying your partner in part for the experience they bring. Has your partner asked about call handling, digital response conversion, paid search? Sure, these may not be within your scope of work. A true partner cares primarily about your success. And they will treat your business like their own. This includes evaluation and knowledge of every touchpoint in the purchase funnel.
4. Client service. Do you feel like your TV partner has your back? If you run into issues delivering a creative asset on time, will they jump in and help ensure a timely launch? If a legal issue arises, or there is a delay in your supply chain, will they swiftly make the move to pause your schedule? Do they proactively go the extra mile to test phone numbers and audit landing pages to improve sales conversion? Do they provide access across disciplines (e.g. creative, analytics) to proactively deliver POVs and campaign insight? They should do this, and more. In the age of automation, client service is becoming a lost art. But it is critical to managing a successful DTC program.
5. Transparency. Do you know the rates you are paying for each TV unit that airs? Do you know the true cost per response, cost per sale, and ROI of each of these airings? If not, ask your partner. If they can’t provide this detail, then this is a red flag. How do you know you aren’t paying more than necessary to clear? Are you covering a portion of the cost for another client’s airing? The only way to know for sure is to ask for proof in billing. A trusted partner will provide this as part of their normal process.
Now is the time to position yourself for success in 2021. There are many agencies that will be vying for your business. And your current partner will, and should, do what it takes to keep your business. But make sure you are asking the right questions, and setting expectations that will deliver your goals in the new year.
Want a second opinion on your campaign approach? Reach out to me at rob.schmidt@eicoff.com. We’ll provide an audit of your current program – creative, media, and analytics – and a roadmap for success in 2021.