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Mysterious
media terms explained
Whether
you're new to media buying or an accountant trying
to help out the media department, speaking media is
like speaking a different language. Key media terms
include:
Media
plan A detailed listing of the print ads or
broadcast spots to run for a particular campaign.
Media plans are created for clients to review and
approve. Media orders are then created from media
plans.
Media order A print insertion order or
broadcast order created for a station or
publication. The media order is the equivalent of a
purchase order, explaining how and when an ad
should run -- and how much the ads will cost.
Commission The amount the shop earns by
placing the ad with the station or publication,
typically 15% of the ad's gross cost.
Pub code The pub code identifies the
publication on media orders. It is usually an
abbreviation of the publication's name.
Spot An advertisement that runs on tv,
radio, or cable.
Flight dates An advertisement that runs on
tv, radio, or cable.
Print buy Any advertisement that runs in a
printed publication, such as a newspaper or
magazine.
Space closing The deadline for which an ad
can be ordered from a station or publication.
Materials due The deadline for which the
station or publication must receive the ad from the
agency for broadcast or publication.
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Continued from previous
page
The media
order is the start of the accounting process. So whether you
buy media with Clients & Profits or import them from a
media buying system, it must be billed to the client then
reconciled with the vendor's invoices. Media invoices are
self-reconciling with insertion and broadcast orders, so
it's easy to see if the ads you ordered actually ran.
... from start to finish
Make goods can be added as
needed, which are reflected on the clients' media billings.
Since media orders are integrated with the accounting system
there's no double-entry anywhere, including billing.
Insertion orders can be prebilled instantly, or billed
together in batches on the same invoice. Each media invoice
shows clients clearly and concisely how they spent their
media dollars were spent.
Insider knowledge
The benefits are greater than
better communication between media, production, and
accounting or a faster billing cycle. The media spending
reports provided by Clients & Profits give the media
department the facts they need to make their accounts as
profitable as possible. Media spending and performance
reports are based on up-to-the-minute media orders and
billings, so they are always current. And they can be
printed by media buyers and account managers whenever
they're needed.
Inside information
Media reports look at media
traffic, spending, and performance from every angle. The
Client Media Calendar is the first place to see which ads
are running by month (see pages 4-5). It's a great report to
print each Monday. The Space Closing and Materials Due
reports list critical upcoming deadlines from broadcast and
insertion orders.
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They're
ideal reports for both the production department and the
media department. The Unbilled Media report lists insertion
and broadcast orders that have not been billed to clients,
grouped together by client and sorted by order number. It's
a terrific checklist for the accounting department during
billing time.
Account managers and media
buyers can instantly see how clients spend their media
dollars with the Recap, Reconciliation, and Monthly Media
Spending reports. These reports can be printed for one
client or for all clients with media orders for a selected
time frame. The Monthly Media Analysis totals media spending
for each month of the year by client and for each
station/publication. The Mix Analysis report compares
quarterly media spending by type of media (i.e., cable,
radio, web, etc.) And the Media Vendor Volume Analysis ranks
stations and publications by order volume to show media
buyers who gets the highest dollars from the agency (and how
they could possibly make a better deal next year). Together,
they keep the shop focused on how clients are spending their
media dollars.
You'll find examples of these
media reports on the Report-o-matic.
The only way to handle volume
In the ad business, it's not
unheard of for a large media account to seemingly fall from
the sky -- and double your shop's media billing almost
overnight. Your agency's ability to handle a media-spawned
surge in billings can mean the difference between keeping
the account profitable or losing it completely. And you'll
find no better tool to help manage media than Clients &
Profits.
Mindy
Williams is a senior member of the Clients &
Profits Helpdesk. She teaches the new-user training classes
and edits the quarterly newsletters.
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