The media advertising industry is fiercely competitive. Media companies struggle to find a competitive edge and understand the notion of sustained competitive advantage. While chief digital officers, publishers, and others are focused on ensuring a media organization’s products and services are compelling in the marketplace, high-level operations executives obsess 24/7 over a different key question:
â€œHow can our ad sales process run more efficiently and effectively to make a measurable impact on revenue?â€
World-class media operations executives must lead business transformation by looking at four key areas across the business: data, people, process, and technology platforms.
- What are the most important data sets across your prospect-to-cash-flow?
- What data challenges exist across key systems regarding accuracy, consistency, and timeliness?
- What data sets are the most problematic and why?
- Where could investments in technology improve the entry, movement, cleanliness, or de-duplication of data?
- How are roles and responsibilities defined across the prospect-to-cash flow?
- Are any roles or responsibilities unclear, resulting in key business activities falling through the cracks?
- Which organizational roles could become more efficient through improvements to technology?
- Which parts of the prospect-to-cash work most efficiently? Which parts are broken or redundant?
- What processes typically create recurring bottlenecks or regular organizational fire drills?
- What processes would likely have a large impact on ROI?
- What key systems support the prospect-to-cash flow?
- How can system-based inefficiencies be reduced with more investment in people, processes, or technology?
- Which additional systems do you intend to introduce in the future to best support your business?
While a single focus area (either data, people, process, or platforms) may be top of mind at any point in time for a media operations executive; only when the interconnected nature of all four focus areas is acknowledged can larger organizational issues truly be addressed and resolved.
In other words, sustainable media business transformation cannot be achieved through a band-aid approach in just a single areaâ€“it requires a holistic approach.
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