When establishing a partnership with a media buyer, starting off on the right foot is essential. The best way to set your partnership up for success is to establish parameters, timelines, and deliverables first. While it might seem overly formal, clearly defined written expectations take the guesswork out of your relationship. Documenting detailed expectations maintains accountability and builds trust. Building this solid foundation from the start leads to strong campaigns with successful outcomes.
Set clear expectations with your media buyer using these four steps:
Step 1: Determine and Agree on KPIs
Start with an open conversation about your big-picture goals. What change do you want to see in your business? Do you want to book more appointments with new clients, increase the average sale amount, or even build a following on social media? Be specific. For example, sharing that you want to increase sales is too broad of a goal. Stating that you want to increase traffic to your website to result in increased sales is more specific.
Once you’ve shared what you want, it’s time to choose key performance indicators (KPIs). These are the metrics that will show whether you’re on track to achieving your big picture goal. Avoid making vanity metrics your KPIs. Choose actionable or ROI-based metrics instead.
You may need to track multiple KPIs to track campaign success, but be sure to narrow down the truly important metrics. Just because you can follow a dozen KPIs doesn’t mean you should.
Step 2: Create SMART Goals
Now that you’ve chosen KPIs get specific by creating SMART goals. Craft SMART goals with your KPIs at the center.
SMART goals are:
- Your goal should not have vague language.
- Your goal should be trackable. This is where your KPIs come in.
- Goals are meant to be a challenge but not impossible. Be realistic about time and especially budget!
- Ensure that your goal contributes and aligns with your overall business objectives.
- There should be a start date and deadline.
You must create these SMART goals collaboratively with your media buyer. This keeps both parties on the same page.Be sure to write down your SMART goals and make them accessible to all parties. Did you know that you are 42% more likely to achieve your goals when you write them down? Click To Tweet
Now that you have a clear destination, it’s time to determine how you’ll get there and who will be responsible
Step 3: Build a Roadmap Together
The third step to setting clear expectations with your media buyer is to create a detailed plan for achieving your SMART goals. This chronological document should contain details about each task, such as:
- Responsible parties
We’ve all experienced miscommunication that results in a delay or errors in the campaign. This document aims to prevent realizations like “oh, I thought you were taking care of that.” Note you’re your roadmap should not be set in stone. When things change, you’ll need to pivot. Stay agile by revising your roadmap regularly and sharing edits with both teams.
Step 4: Talk Fine Print
Lastly, don’t forget to review the finer points. Be sure to discuss:
- Frequency of communication
- How often will the client hear from their media buying partner?
- Billing and invoicing schedule
- When will invoices be sent? When are invoices due? What method of payment is preferred?
- Reporting frequency and depth
- When will reports be sent? What metrics will the report contain? Will reports we received with the media buyer be in person or on a video call?
- Turnaround times
- How quickly will work be completed? Do holidays and weekends affect turnaround times?
- Cancellation policy
- Should the client or media buyer choose to terminate the partnership, what is the length of notice?
- Non-disclosure agreements
- Both parties should sign non-disclosure agreements to protect proprietary information.
Along with open communication, these four steps are sure to set you and your media buyer up for success. If you are looking for a media buyer who won’t leave you in the dark, a partner who’ll provide transparency and meet your expectations? Contact us today for a free quote.