New age of automated media buying is upon us
Strength of DOmedia Platform in OOH
Since the launch of our RFP application in 2011, the DOmedia platform for buying and selling OOH (Out-of-Home) Media has grown significantly in total number of professional users and companies doing business on the platform. By the end of 2016, we expect that over 8,000 professionals across 5,000 businesses in the US alone will be active on DOmedia.
Digital Inventory and Automation Trends
As OOH media inventory continues move from static to more digital, both buyers and sellers are adapting to a more flexible environment. A new way of doing business has also emerged. We are now in the age of automation, as brand clients require more transparency and better analytics to justify ROI. Phone calls and emails are still helpful but not a necessary means of communication for processing large amounts of media buy data. Business processes must continue to advance to meet this demand for effective and efficient campaigns.
Rapid Increase in RFP’s and Proposals Online
As client behavior meets this growing demand for digital automation, we anticipate a rapid increase in OOH media buys transacting online. By the end of 2016, an expected total of 10,000 RFP’s will have been sent from buyers and a total of 50,000 proposals uploaded from sellers. An incredible amount of market intelligence is being gathered and will only allow our clients to create better campaigns much faster, saving valuable time while increasing overall revenue and profits.
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How Not to Be a Casualty of “Digital Labor”
In different industries, this term can mean different things, but most of the time, it’s not good! In the OOH industry, digital labor is all of the email, spreadsheets, presentations, photos and other documents that are shared between buyers and sellers.
A recent DOmedia analysis showed that the average buyer solicited proposals from an average of 5.9 media companies per RFP, resulting in 6.7 file attachments per response. This means the buyer is faced with downloading almost 40 files before she can even begin figuring out what might work for her client!
The challenges don’t end there – today’s media buyer must also be a spreadsheet Ninja to get templates in some comparable format to analyze then recommend the media.
When she finally gets client approval, it’s 8:00pm and all that is left now is to type up the contract. The numbers are starting to look fuzzy because it’s getting late. No worries, any mistakes will get caught…eventually. It’s been a long hard day of “digital labor”!
At DOmedia, our connected applications eliminate redundancies and errors by reducing digital labor and the risks posed to media buyers. Strategists can search our industry leading database for client solutions then create project briefs that go directly to buyers. From there the standardized RFP easily compiles media provider proposals for analysis. Revisions? No sweat! All easily handled from the buyer’s dashboard insuring all parties have the most up-to-date RFP information and status. Once the client high-fives you for a job well done, have no fear – creating a contract from proposals won’t make you late for dinner with our integrated contracting application.
It’s not to late to save yourself, drop us a line to learn more. Together we can minimize digital labor at media agencies!
Our tech team has been hard at work making improvements to the functionality and appearance of the Media Data Table in the RFP process. Below is a list of updates and a screenshot to show the enhancements we have made on the Media Data Table within the RFP process.
- (New) Frozen rows and columns are now more visually apparent
- (New) Ability to resize all rows and columns within the table
- (Updated) The autocomplete fields have scrolling built into them
- (Updated) Improved scrolling experience throughout the Media Data Table
- (New) Validation errors are now grouped by column
For more information on how to use the Media Data Table, go to our support center »
DOmedia has the largest out-of-home database, which means that searching on DOmedia is robust and comprehensive. Agency planners and buyers can search over 940 media sellers and over 500,000 media assets.
- Perform broad, multi-market searches or hyper-local, proximity targeting searches based on the needs of clients
- DOmedia’s database is integrated with the TAB data cloud
- TAB data is available to every TAB member user at no incremental cost and provides the ability to calculate OOH TRP, GRP, Reach and Frequency
- Search and RFP are seamlessly integrated with DOmedia’s interactive mapping application that was built through a partnership with Google. The integration provides workflow efficiencies during planning, buying and campaign analysis.
DOmedia’s interactive mapping application allows seller and buyer users to visualize vendor inventory, proposals, client locations, & competitor locations quickly and easily. Continue reading →