Media monitoring is about collecting relevant data from the media for companies. The information includes details about the running of ads, editorial mentions, and creative data.
It is of particular importance for companies to monitor competitors, permanently analyse advertising and revise their own market position. Operational and strategical decisions frequently do not become possible until after the market and competitive companies have been monitored intensively.
Media monitoring across all types of media is necessary for publishers, media companies and media agencies in equal measure. Only a continuous analysis of advertising data on the level of individual printed publications and TV channels leads to meaningful information about the volume of advertising. Detailed knowledge about one’s own advertising medium and the competition’s advertising media gives the company and management a means of controlling sales targets. In addition, it sets impulses for new customer business.
Via media monitoring, creative agencies observe developments in the advertising industry simply and quickly, in order to find out about aspects such as marketing strategies and the creativity of competitive agencies, advertising histories and the ad-placing information about advertising efforts. With this, pitch situations can also be improved decisively.
Prepared data down to the product level provides advertising companies with important knowledge for marketing and strategic management. The data collected can be interconnected and mapped according to customer requirements. The monitoring and analysis of competitive campaigns are of great significance for knowledge about one’s own market position. The amount spent on advertising in individual market segments should be controlled permanently. This contributes towards putting into practice certain sale targets. The constant monitoring of the advertising market also allows advertising trends in general as well as for specific market segments to be recognised at an early stage.
A structured monitoring of the competition is decisive for advertising media (publishers and media companies) in the fields of television, online and print. With the help of a continuous analysis of competitors and of placed advertising volume in competitor publications and competitive TV channels, one’s own market position can be defined. This way, own products can be marketed more successfully. Advertising information is interconnected with data from sales and prepared in line with marketing. The management and functional management can take key indicators from here, which are relevant for selling ads or for office or field workers.