We unveiled new media planning tools that enable advertisers’ and agencies’ media teams to establish and authorize media budgets, monitor plan implementation, and audit the budget – all through one seamless system.

The Old Way of Establishing Your Media Budget

When developing an advertising campaign, the first step is to determine how much money to spend on media. This step can be broken down into multiple pieces according to the strategy and goals of the advertising campaign. The breakdown might be channel mix, market strategy, media investment strategy, vendor strategy, set of business initiatives, allocation for each media planner or another segmentation strategy. This budget breakdown has typically been done separately from media planning; often in Excel spreadsheets.

A Better Way to Establish Your Media Budget

Cubik, is our media planning software that lets you manage your media budget in an integrated media investment management system. Cubik’s new “budget” tab on your campaign allows you to segment your budget. Which represents a segment of your overall budget. It is completely flexible, and you can allocate the money however suits you by creating transparency in your workflows.

Offering transparency in your workflows authorization

You can start media planning without a formal media authorization. But, you never want to buy the media without proper authorization. It’s critical to track and communicate the status of the media authorizations related to your budget 

You can indicate the media authorization status of each budget as either rejected or approved in order to give your teammates visibility on the overall progress workflows. Using this flexible approach, you can authorize your budget in pieces, rather than all at once. You can authorize digital media separately from television for example. And you can authorize your annual budget in quarterly segments.

Conclusion

With our tool, you can gain a better understanding of your money coming in and out, and how to improve the way you allocate your money in your marketing campaigns.

If you’re not yet using Cubik, you can learn more about the features, pricing, and reviews on our website here www.chasers.ai or contact the customer success team for help using these features.