The third largest expense in a retailers's operation is print media. Managing that investment to insure it delivers on programmed goals for market share, market penatration and revenue is a complex process. Many retailers have opted to outsource the task to firms specializing in print media management.
What should a retailer expect from an outsourced print media firm? What roll will the retailer have in the process. How much time will it take and whats the cost? A professional print media company should have the experience and resources to take a campaign from its inception and manage it to its conclusion. The retailers involvement, other than setting the original goals, is minimal.
Planning the campaign is the obvious important first step. Based on input from the retailer regarding objectives and budget, the print management firm has to develop a plan that is unique to the product or service and takes into account the time constraints that might apply. The retailers desired demographics, psychographics have to be integrated with media with appropriate readership, circulation, cost per thousand, reach and measurability.
Obviously the largest expense in print media is purchasing the media itself. A print management firm should have an extensive history dealing with a variety of media sources that they can use to leverage the buy. Just buying cheap does not insure a successful campaign. Each source needs to be evaluated against the objectives. If the metrics are right, then negotiating price is an exercise in horse trading.
If possible, the retailer should select a print management firm that has a policy not to accept commissions from the media providers. This makes the firm a true agent and will result in the best media prices. Unfortunately, most print media management firms do not operate on this model.
The print media firm should have technologies like Geographic Information Services that will allow for rapid analysis of the campaign as it is in progress. Having the ability to adjust buys on the fly to better optimize is a key element of any successful campaign.
When the campaign ends the accounting begins. A professional management firm should have the ability to monitor the media to insure it ran as specified. It should also have an auditable system to compare Insertion Orders to media invoices.
Retailers who engage a professional print management firm relieve themselves of the requirement to do it themselves or parse out the tasks to different firms. Obviously, selection of the firm requires careful consideration. A retailer is in essence hiring a partner and you want to make sure the relationship is a good one.
What should a retailer expect from an outsourced print media firm? What roll will the retailer have in the process. How much time will it take and whats the cost? A professional print media company should have the experience and resources to take a campaign from its inception and manage it to its conclusion. The retailers involvement, other than setting the original goals, is minimal.
Planning the campaign is the obvious important first step. Based on input from the retailer regarding objectives and budget, the print management firm has to develop a plan that is unique to the product or service and takes into account the time constraints that might apply. The retailers desired demographics, psychographics have to be integrated with media with appropriate readership, circulation, cost per thousand, reach and measurability.
Obviously the largest expense in print media is purchasing the media itself. A print management firm should have an extensive history dealing with a variety of media sources that they can use to leverage the buy. Just buying cheap does not insure a successful campaign. Each source needs to be evaluated against the objectives. If the metrics are right, then negotiating price is an exercise in horse trading.
If possible, the retailer should select a print management firm that has a policy not to accept commissions from the media providers. This makes the firm a true agent and will result in the best media prices. Unfortunately, most print media management firms do not operate on this model.
The print media firm should have technologies like Geographic Information Services that will allow for rapid analysis of the campaign as it is in progress. Having the ability to adjust buys on the fly to better optimize is a key element of any successful campaign.
When the campaign ends the accounting begins. A professional management firm should have the ability to monitor the media to insure it ran as specified. It should also have an auditable system to compare Insertion Orders to media invoices.
Retailers who engage a professional print management firm relieve themselves of the requirement to do it themselves or parse out the tasks to different firms. Obviously, selection of the firm requires careful consideration. A retailer is in essence hiring a partner and you want to make sure the relationship is a good one.
About the Author:
Dodson Marks searches the print management industry and reports on changes in technology, media buying stratagies and the reaction of print media to the increasing move to the electronic market.
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