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by Matthew Reiss, President, AMI+ Partners https://advantagemediainc.com

In the competitive and ever-evolving landscape of advertising, ensuring that media investments are efficient, effective, and transparent is more critical than ever. For advertisers and fellow marketing procurement leaders, the task of optimizing media spend while holding media agencies accountable can be daunting. This is where media audits come into play.

A media audit is a comprehensive examination of an advertiser’s media transactions, performance, and adherence to contractual terms. However, the success of a media audit largely depends on choosing the right auditing partner and understanding the key factors that can influence the outcome. There are some essential considerations clients must keep in mind when selecting a media auditing partner and embarking on the audit process. By focusing on independence, expertise, methodology, transparency, and more, advertisers can ensure they derive maximum value from their media audits, leading to optimized media performance and greater return on investment.

by Tom Mills, (linkedin.com/in/tom-mills-procurement/)

Navigating the vast landscape of procurement education on YouTube can be overwhelming, but it is undoubtedly a treasure trove of knowledge for professionals seeking to enhance their skills. Here are the top 10 YouTube channels that are indispensable for anyone in the procurement field:

1. Zerite Network: This channel is a goldmine of tutorials and lectures covering procurement, financial planning, business startups, CPA lectures, and ACCA tutorials. The depth and breadth of content make it a must-subscribe. Zerite Network
2. The World of Procurement: Led by Daniel Barnes, this channel features high-quality how-to videos on contract management and procurement, making complex topics accessible. The World of Procurement.

In today’s dynamic and ever-changing business landscape, strong partnerships are more important than ever, particularly in the field of marketing. These relationships often involve a range of agency partners who specialize in various aspects of marketing, from digital advertising and media to public relation and e-commerce. It is common knowledge that the most effective partnerships are built on a foundation of transparency and trust.

With the US Labor Day (and therefore the unofficial end of summer) behind us, most organizations are going into planning for 2024 (or their own off calendar year fiscal version thereof). While most organizations have a structured approach to create plans for generating client revenues, there is a strong focus on managing the cost side of the business.

As we say goodbye to the summer and head into a busy fall, many of us in marketing services will spend much of the rest of the year running strategic and financial planning sessions that will dictate activity for 2023. It’s an intense period of collecting budget numbers from brands and functions, rolling them up to better understand how the year ahead will shape up.

How marketing procurement teams can help advertisers swim through highly effective Quarterly Business Reviews (QBRs) with their agencies without drowning?