Let's take a closer look at the elements of Media Planner for budget plan creation.
The key elements of the media plan are as follows:
Users are led to this page on clicking Generate Plan from the Media Planner home page.
The landing page displays a customizable plan consisting of a primary business goal to be achieved over a time period targeting an increase/decrease of a metric for a business unit with a defined priority.
The customizable fields are highlighted with an underline. Apart from the base Plan A ; an alternate variant as Plan B and Plan C is also proposed.
The landing page shares the sample plan ready to be edited. Click Edit Plan to proceed with plan creation.
Time Period
We proceed with the first step of the media plan creation process and that is defining the time period to be covered. The calendar icon enables users to define the time duration for which the budget plan requires to be created for.
The plan name can be edited from the top left corner of the page.
Once the time period has been defined, click Next.
Note: The date range for a plan can be defined ranging from a month to a year. The plan is created from the next month onwards.
Goal
Defining the Goal is the subsequent step for users to identify the business goals; the media plan intends to achieve.
Users can select from a pool of pre-built goals such as; Change OPS, Change Shipped COGS, Change Ad Sales.
Once a goal has been identified and selected, a strategy can be applied to the corresponding parameters viz. customer traffic, performance, opportunity and reach. This helps to prioritise over different metrics during budget allocation.
Strategy
Based on the strategy adopted, users can define a priority metric for budget allocation within the plan.
Users can click and allocate priority to any parameter to define the strategy priority.
Strategy | Target |
ROAS Focused | Assigns all weightage to RoAS growth parameter |
Growth Focused | Assigns all weightage to YoY & NTB % growth parameter |
Based on Last Year | Assigns all weightage to Ad Sales parameter |
Custom | Assigns as per user's choice across parameters |
For a balanced approach to planning it is recommended that a strategy with a mix of ROAS, YOY growth and NTB% sales as shown in the figure attached.
Note: Ad sales is always allotted a default weight outside of the strategy you choose.
Example: Allocating more prioritization points or chips to RoAS implies that budget distribution will consider RoAS improvement to be of a higher priority than another KPIs with less chips.
Users can allocate a maximum of five prioritization points or chips and a minimum of zero prioritization points or chips to each parameter while outlining the strategy priority.
Once the goal has been identified, click Next.
Target Business
Defining the Target Business is the subsequent step for users to identify the business/unit(s) the plan intends to cover. It is a good practice to filter out the part of business that you want to plan your budget for.
Overall Business
Users can define the plan for the entire business. They also have an option to select a specific unit within the business. The unit is a dimension to categorize the business into. The categorization can be Internal or Retailer based.
While creating a plan for the entire business, ensure there are no empty or unwanted profiles / portfolios or categories that are selected.
Users can either select a product line or Profile or a Portfolio within a Retailer category or a Brand or any unit within an Internal category to organize the budget plan for.
In other words, filtering the business unit can be done for both Internal Categorization typically defined by the customers and Retailer Categorization.
In this case a historical data set covering performance of the key business metrics for the chosen unit within the overall business are displayed.
Customize Business
Users can customize the plan for certain portions of the business. This helps users to identify how can the plan be distributed within a specified business unit.
In this case a historical data set covering performance of key metrics are displayed for the chosen profile within the business.
Define Goal Metrics
Defining the Goal Metrics is the subsequent step for users to define/adjust the metrics value as a measure for achieving the goals.
The metrics value can be defined either in Percentage value or Absolute value. The values can be customized using the pencil icon.
Users are also provided with the facility to create two additional plans (Plan B and Plan C) compared to the base plan which helps in holistically comparing it with the current budget plan to achieve different goals.
These plans can be selected using the checkboxes and their values can be adjusted using the pencil icon.
Users can also edit the goal values at a profile level in case multiple profiles have been defined at the target business phase.
This feature can be enabled by the slider button provided at the left corner as shown in the graphic below. The goal values for each profile can be customized using the pencil icon.
Additional Inputs
Users have an option to provide additional inputs to the plan being created. They can either provide the expected growth values or leave it blank.
Note: In case the growth values are left blank the Expected Growth is calculated on the basis of historical value.
Similarly users can define the spend values for Budget Distribution across keyword types in the plan.
Note: The sum of spend values across keyword categories should be equal to 100 percent for the inputs to be saved.
Users can also edit the values at a profile level in case multiple profiles have been defined at the target business phase. This feature can be enabled by the slider button provided at the left corner as shown.
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