A media cost centre contributes to your company’s profitability by tracking your expenses and giving you control of the total costs.
We have three very important questions for you.
Are you wasting your time in trying to decipher if your marketing activity is in tandem with your initial business goals?
Do you want to know if your budget is on pace to be spent?
Want more insight whether the KPIs are worth the investment for a particular channel or partner?
If the answer to the above questions is a resounding yes, then you need to unify and simplify your data across campaigns for marketing spend optimization using AI based Dashboards. This is the key factor in raising your overall conversion rates and lowering cost ratios. Modern marketers are gravitating towards AI in marketing which involves a goal-based pacing model where planned vs. actual reporting is updated automatically. This information is compared to your planned budgets and analysed for discrepancy at the various levels of marketing.
Have you heard of Media Cost Centre (MCC)?
Using AI in Datorama Dashboards, MCC, fulfils a crucial need for brands, agencies, publishers, and advertising technology customers by optimizing the marketing budget.
Datorama MCC is a product that automates analysis of what your media is doing versus what you planned. It dynamically associates advertising data with your media plan and calculates cost for marketing spend optimization.By joining together your planned information with real world results, with the help of AI based dashboards, you can mix and match relevant targeting and tactic data with live KPIs.
The first step is loading your planned data into the MCC. This is done automatically via dedicated Data Streams. If your media is planned in Salesforce, then we can populate Datorama MCC using our Salesforce SOQL API or our new Salesforce Reports API. If you are using Mediacean Prisma or a custom in-house solution, that should not be an issue either.
Once the data is loaded with planned data like budgets, rates, and campaigns the second step is joining your live media data. Depending on your business rules Datorama MCC can without a single line of programming, connect to systems as diverse as 3rd party ad servers, viewability and verification vendors, DSPs, publisher direct data, mobile, social, and offline sources.
Once your media plan is in the product and you’ve automatically connected it to your live media, Datorama MCC will automatically calculate your media cost and track it against your budget. It does this because of prebuilt logic that understands the most common industry standards for buying media. For any custom rules it’s a simple matter of a few clicks to tell Datorama MCC how you need your cost calculated.
The graphic below is an example of an AI based dashboard.
This, however is only the foundation. Having set both the sides of the equation, your plan and the real-world results allow for a diverse suite of use cases like:
Your programmatic trading team can manage bid prices, using Datorama MCC’s cost calculations to create custom alerts. These alerts inform them where they need to increase or decrease budgets and where their attention should be focused.
Are you concerned that you are paying a publisher partner for media that’s not being seen? By connecting Viewability, MCC and Ad Server you can see what your average cost per each viewable impression is and how that stacks up against the rest of your plan. You may be missing an opportunity to reach more people by not shifting your budget to a better performing partner.
The bane of many people’s reporting is tracking what is being spent and where. A typical media plan, that involves AI in marketing, covers multiple channels having one single source of truth for pacing and saves a lot of time.
If you are an agency or a trade desk, you can integrate your net rate and use Datorama MCC to track and determine marketing spend optimization. Be it at the most granular or client level, the data will be available for you to merge.
Closing the account books and reporting to the finance team with the monthly reports is a mammoth task, involving tedious manual report wrangling. AI in Datorama Dasbboards enables MCC to dish out reports in just a day after the month ends, making reconciliation no longer a taboo word.
Your marketing team drowns in analysing a deluge of internal messy data to decipher the marketing budget. MCC is here for rescue. With AI based dashboards, Datorama’s MCC is what you need to bridge the gap between your investments and returns and ramp up your engagement patterns.
The above-mentioned scenarios can also use our Actions Centre and Goals layer for additional tracking and automated alerting. Trigger emails can be sent to the right people with the right information or can automatically be paused in your DSP if the campaign is over-pacing.