Last week, a friend called me to ask what it means when a planner says he is writing a POV on his radio show. I explained that a “Point of View” is typically a formal assessment of a media vehicle that is done by an agency for a client. Many times, this happens when a client becomes aware of a new vehicle and asks the agency to evaluate the vehicle before the next planning cycle.
POVs are more than just evaluations, however. Not only do planners have to evaluate the vehicle against others on the plan, but they may have to make recommendations for funding the vehicle if it turns out to be a viable advertising solution. This could mean cutting money from one or more vehicles that are currently on the plan.
In order to write an effective POV, a planner needs to put himself into the shoes of a client that could have many reasons for requesting a POV on a given media vehicle. Perhaps sales reps have called the client directly to inquire why their vehicle didn’t make the media plan. Maybe the client’s boss read a newspaper article on a media property and wants to know whether it can be used on the media plan. It is important to understand why the POV is being requested. Often, it can be enlightening to ask the client how they heard about the media property.
A good POV starts out with an overview of the media vehicle. This overview should contain an analysis of the entire advertising environment, paying particular attention to the specific sub-environments that would be most appropriate for your client. Base level traffic numbers and the sub-environments’ traffic should be detailed. The overview should also contain as much information about the media property’s audience as possible, but it should also contain a competitive analysis of how the property stacks up against both its direct and indirect competition.
POVs should also contain an analysis of its efficiency versus other vehicles on the plan. Traffic levels, CPM (or CPA) should play a major role in the analysis. Don’t forget that the cost of producing any additional creative should be factored into the analysis if no creative from the current campaign can be repurposed. The efficiency analysis should also contain an assessment of how the creative is presented, in comparison to vehicles currently on the plan.
All POVs should end with a recommendation, either to add the new vehicle to the plan, or to reevaluate it during the next planning cycle. If you elect to add the vehicle to the plan, you must provide a recommendation for how to fund the new vehicle. Stay within your budget, unless your client indicates that the addition of the new media property can be funded incrementally. If you need to shift funds from other media vehicles, be sure that the recommendation clarifies exactly how those other media packages will be diminished as a result.
During planning, some agencies will recommend an “opportunistic media fund” for funding new vehicles. I think it is a terrific idea to set aside some money at the beginning of planning, as new vehicles tend to emerge more frequently in interactive media. Consider setting aside a percentage of your media budget every quarter for new opportunities.
Programmatic is taking over the digital advertising world, and at an even faster rate than expected, according to eMarketer, which raised its forecast for programmatic ad spending in the U.S. on the back of growth in mobile and video programmatic buys.
Election 2016 is already like no presidential race before it, and one of the most striking aspects of this year’s race is the disparity ... read more
Video consumption keeps increasing and Facebook is serious about a video-first world, encouraging us all to explore its full potential. Ian Crocombe, ... read more
Mike Andrews Ph.D is Chief Scientist (Forensiq) at Impact Radius, and is carrying out some fascinating work around digital marketing and ad ... read more