Performance Management
Cost reduction is critical for all businesses, but is only one part of a comprehensive performance management programme. The real challenge is in knowing what KPIs to set, where improvements can be made, how to optimize what remains and where to recycle savings to deliver improved media productivity and impact.
Most traditional media evaluation techniques focus on measuring inputs, principally the cost efficiency of what was bought in the analogue media. While these techniques still have a role to play, they are addressing an increasingly diminishing proportion of the overall picture given the importance of digital channels in today’s media marketplace. They fail to investigate whether the media buy was the most cost effective solution available, and they don’t address the outputs which drive consumer engagement and ultimately sales performance.
At MediaSense, we establish first of all what our clients’ Objectives are, and what represents success for them in Engagement, Value and overall Performance. Our starting point is a Productivity Plan, which sets out objectives and strategies for total input and output performance management, cost reduction and innovation. We implement this plan with a customised Productivity Programme, which measures fifty plus sources of value improvement. The Productivity Dashboard tracks performance over time, enabling faster decisions to be made about how each component can be optimized and how savings can be recycled.