In a world where technology has changed the way brands communicate with their target audiences, the role of media planning agencies is under ever-increasing scrutiny.
The advertising marketplace is more cluttered and media more fragmented. Brands have more ways to reach consumers but rarely have more budget. Brands need and expect their media partners to be able to advise them accurately and with evidence on where they should best invest their marketing spend.
Against this context OMD Australia and New Zealand approached Code to help them optimise their core offering. They asked us how we could use technology to give their clients better advice and to give OMD a competitive advantage.
We implemented OMD Channel Planning – an optimisation algorithim to allow OMD to tell their clients how best to spend their money. Built as an app within the already successful Vision platform, the OMD Channel Planning tool allows media planners to create and test ‘what if’ scenarios. Using a highly visual and interactive tool, Planners can ‘war game’ different media channels and different budgets to assess their effectiveness at meeting the client’s goals.
Uniquely within the industry, OMD Planners can now tell their clients when to stop spending and when additional investment will generate incremental demand.
Under the hood, the application caries out a series of calculations in order to allocate the best split across media channels, based on a series of criteria defined by OMD. It also learns as it goes by pulling in new data sources on media performance to create ever-more specific and accurate models.
The application is a key part of OMD’s Australian and regional strategy to lead the media agency market. By embracing technology to meet the challenges created by digital disruption,
OMD Channel Planning provides their clients with the ability to make smart decisions based on optimised predictions developed on world class technology.