WFA auditing the auditors


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WFA shares research results and some guidance in relation to working with media auditors around the world. For more information contact Matt

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WFA auditing the auditors

  1. 1. Evidence C Set objectivesbased onreal businessoutcomes andinvite your auditor to be part of the discussion to avoid agencies buying mediajust to satisfyaudit results The MEDIA INVESTIGATORS Top 4 ranked on more important Top 2 ranked on less important Agree Neutral Disagree 0% 87% 75% 7% 25% 0% 6% 30% 30% 40% 58% 17% 25% Research across the WFA membership set out to investigate what advertisers think of the media auditing companies responsible for policing media value and interrogating media agencies, and to establish what the future has in store for the detectives of the media industry. These results are based on responses from 29 companies, across 15 different industry sectors. Total global media spend of all respondents represents approximately $35bn. Auditing is crucial to how we measure media value and our auditor is an indispensable business partner. What do you use your media auditor for, and where? Will auditors become more or less important to you within the next few years? Auditing in rapid growth economies is a crucial way of determining the level of media value delivered. Pooling is a misleading concept as it detracts from the absolute price paid and reach delivered. Auditing will become increasingly irrelevant to us in the future - it's just a hygiene factor. Programmatic buying/ trading desks Online ad viewability tracking Econometric modelling Measuring media value in rapid growth markets Europe 13% 87% 75% 17% 8% Online paid search consultancy General consultation 91% 5% 4% 76% 19% 48% 33% 18% 64% 18% 19% 5% 23%2013 17%2012 APAC 12%2013 5%2012 USA/ Canada 12%2013 25%2012 LATAM For further information email us on or visit our website …or follow us on Twitter @wfamarketers 3%2013 9%2012 Evidence A Ensure that the ‘right to audit’ is enshrined in all contracts with media agencies E vidence B Pay attention to the % of your budget auditors are able to evaluate, and be wary of forming judgements based on a small sample EvidenceD Embrace new digital evaluation tools such as ad viewability, but consider that • Auditors administer these systems but rarely own the software • Agencies should have regular access to this data to optimise campaigns More Important Same Less 83% 63% 75% 50% 75% 46% 38% 46% 38% 38% 29% 25% 21% 8% 21% Complete performance evaluation Media inflation forecasts Media agency guarantee validation Financial auditing Cost benchmarking EuropeUS/Canada LATAM ME & Africa APAC 21% 29% 21% 8% 21% 54% 38% 42% 42% 46% Under questioning, advertisers confess that auditors are indispensable partners and set to remain so into the future. Digital found to be the key area for future development of auditor services. Auditors used extensively in Europe. Asian and North American usage on the rise But under cross examination, the share of digital budgetsthat auditors are able to measure remains low and appearsto be declining in some key regions. Some guidelines to follow to make best use of the media detective work conducted by auditors.