All posts tagged OAAA

Opportunities for More Efficient Media Buying and Selling Using the RFP Tool

The OAAA’s ‘Take Another Look’ initiative outlined the need to rethink process and expand technology applications. Many agree the lack of standards is holding the industry back, and both buyers and sellers have said they see the value in a common way of distributing RFPs and collecting proposal information. The industry has spoken, and once again we have listened and acted.

To build upon the release of DOmedia’s new RFP 2.0 features, I would like to share some the most common opportunities we observe in the RFP process:

Opportunities for Sellers to Help Buyers

  1. Use the Buyer’s Template
    Many sellers have a proposal tool, which generates an Excel spreadsheet, or PDF that presents information in the way sellers want to sell. The tricky part is when the buyers send out a template, they are trying to guide the way they want to review your proposal. If sellers submit proposals in their own format, it creates more work for the buyers to convert them into a consistent format they can use. Some buyers don’t mind taking the time to convert your proposal information into their template, but for others it’s a hurdle, which can have a negative result for the seller. The buyers do want to understand what sets you apart so they don’t ignore additional information you provide; they just prefer it in their format.
  2. Understanding “Unit #” Versus “# of Units”
    This is a simple issue to look out for and getting it right lets the buyer know if the seller is paying attention to their request. “Unit #” is the inventory number or panel id, whereas “# of Units” lets the buyer know if the proposal has multiple faces or is part of a package.
  3. Provide Impression Measures
    There are many times when sellers leave impressions blank or put “N/A” in the column. This puts the buyers in a difficult position. We know there is no apples-to-apples comparison of different media formats because each opportunity is unique, but it is important to try to quantify who is being exposed to the ad. Another issue with impressions is when the seller gives with wrong time unit (weekly versus monthly). This affects the buyer’s calculations. Finally, another hiccup that buyers encounter is when the impressions number is not formatted correctly (i.e. 50MM or 000’s) – be sure to pay attention to the format requested by the buyer.
  4. If You Can’t Offer a Proposal, Be Sure to Decline an RFP Properly
    A buyer includes sellers in the RFP that they think can best cover the client’s needs for that campaign. Sometimes an included seller is unable to submit a proposal. The great thing about the DOmedia RFP tool is that both sides can learn over time what is the cause of seller declining. The seller should clearly define why they are unable to submit (i.e., don’t offer that format, no coverage in that area, no more inventory). This allows the buyers to continue to include the right sellers in the future and also provides insight to  profile update requirements.

Opportunities for Buyers to Help Sellers

  1. Use an RFP Template Consistently
    The majority of RFPs have a set of “questions” that need to be answered. However, if the buyer is rushed or sending a simple request, they sometimes elect not to include a template, thereby possibly resulting in incomplete information being given to the seller.  This may result in additional communication (and time) between the buyer and seller to fully understand the client needs. DOmedia solved this issue by having a standard brief and “set of questions” (RFP template in 2.0) that are always asked for every RFP. This template can be added to by the buyer; thus allowing flexibility for the buyers while giving the sellers a consistent experience. 
  2. Request Rate Card Rates
    Capturing rate card pricing seems like a simple thing that is often overlooked. However, when the client wants any kind of reporting on actual vs. rate card costs, it is crucial to have captured this information. It is very time consuming for the seller to backtrack and get rate card pricing after a campaign ended.
  3. Be Clear in the RFP Brief
    We know that buyers do not intentionally withhold information about a potential campaign from vendors. A common issue we have observed is missing information from briefs – often as a result of a hurried process.  DOmedia’s Project Brief form helps the buyer think through the campaign information in a structured way. Both sides benefit from always having campaign details listed in the same location.

Using these “tips” along with DOmedia’s RFP 2.0 application allows buyers and sellers to work faster, smarter and better on behalf of advertising clients.  Information can be shared more efficiently thereby freeing up time for both the buyers and sellers to focus on more value added and strategic conversations. All of this helps the industry move forward and reach the objectives set with OAAA’s “Take Another Look” initiative.

OOH Innovation at 2013 Ignite OAAA/TAB Conference

Last week, like many of you, I attended the 2013 Ignite OAAA/TAB Conference in Los Angeles. I probably saw some of you at the tradeshow, workshops, general sessions or receptions. The conference was very well attended, in fact one of the best attended in recent years, and there was a buzz of excitement and enthusiasm about the direction the OOH advertising industry is moving.

The presenters and panels shared and discussed some great information, and whether you buy or sell digital, alternative, or traditional OOH media, there was relevant information for everyone. One main theme that seemed to keep appearing was Innovation. Continue reading →

Out of Home Advertising Revenue Grows in 2011

OAAA Outdoor Advertising Revenue

Outdoor Advertising Revenue - source: OAAA

Out of home advertising revenues grew 4 percent in 2011 to $6.4 billion, according to the Outdoor Advertising Association.

Out of home (OOH) advertising outpaced the overall advertising ad industry, which grew at a meager 1.5% in 2011.

The top 3 industries spending dollars in out of home were:

Continue reading →

OAAA Says Stand Up and Be Counted

Stephen Freitas, Chief Marketing Officer for OAAA, explains why it is imperative for all media sellers in the outdoor industry to provide accurate data to the three reporting agencies. Continue reading →

OAAA: 7% Increase in Out of Home Advertising in Q3

The Outdoor Advertising Association of America (OAAA) released figures showing a 7% increase in revenue in Q3 2010 (vs. Q3 2009) for the Out-of-Home (OOH) advertising industry. Year to date, OOH advertising revenues are up 3.3% over 2009. The media and financial segments helped drive the increase, with the financial institutions reporting a one third increase in spending over the same period in 2009.

Although unspecified in this release by the OAAA, the Digital Out-of-Home (DOOH) category would seemingly be the fastest growing category in OOH. According to PQ Media data released on November 15th, the U.S. Digital Out-of-Home (DOOH) media category, which includes digital place-based networks, billboards and signage (including cinema), grew 14.9% in the first half of 2010.

Large advertisers and agencies are recognizing the cost effectiveness, reach, and impact of Out-of-Home and Digital Out-of-Home Advertising. Garry McGuire, CEO of RMG Networks, believes the DOOH industry will reach a tipping point in 2011. Exciting times for both media buyers and sellers in the industry. If in fact the DOOH media category is reaching a tipping point, expect that the biggest beneficiaries will be those who support & adhere to industry standards, are transparent in their reporting, and provide a truly valuable advertising medium. DOmedia is working to promote the industry by creating a marketplace built on industry standards to simplify the process of buying and selling OOH media.