Tracy Woodworth, Media Analyst at Convertro (http://www.convertro.com/) talks about reducing networks, days parts, and programs that are under-performing. In this video, she identifies the most attractive areas for planning and purchasing as well as ways to optimize and test creative changes.
- Identify the Most Attractive Areas for Planning and Purchasing based on Data
- Build Indexes to Track Contributions and Profitability Across Time Lines
- Run Multiple Forecast Scenarios to Optimize and Test with Creative Changes
Reducing underperforming TV campaigns is actually a lot more simple than people give it credit for.
So just take some of your previous say that you’ve already been working on. You can run your different analysis, you can run your different spreads on it but what you’re actually going to be looking for are the different contributions and the values across the timeline that you’ve allocated.
Base on where your media has been you can pretty much forecast where it’s going to go. So, running those different forecasting scenarios is extremely easy to you. You can just add in a little of seasonality, assumptions and always keep a little bit of a margin of error just in case.
And then if you take a look at this data, there is really no reason why underperforming campaign should drop from your budget at all so if you just take time, you get it right in the beginning, you’ll be good in the end.