Some brands don’t always have the need for a global media intelligence solution, however, larger enterprises often fall short when they decide not to take this route. Having a number of media intelligence suppliers across geographic locations can be challenging. When a number of vendors are involved, it means different methods, different KPIs, and different cost structures. This lack of consistency can cause an array of problems, such as skewing reporting numbers and inflating costs.
During this post we’ll look at the benefits of having a global media intelligence partner, as well as the key needs a global solution answers, so you can decide whether this route makes sense for you.
There are a number of advantages to having one global media intelligence partner, for example:
1. You can more easily compare apples with apples when it comes to reporting since data collection is unified
2. Unified data also makes it easy for you to gain one single source of truth
3. It tends to be cheaper as you can benefit from economies of sales
While the above benefits are likely to be attractive to most companies, that doesn’t mean choosing a global media intelligence solution is the right fit. To decide, you need to look beyond the benefits and focus on your enterprise needs. If your brand has one or more of the below needs, a global media intelligence solution should be considered.
Do you have a complex problem you’re trying to solve that may require a custom-built media intelligence solution?
Global organizations need global solutions, that's why some vendors tailor solutions based on your specific KPIs and global/ local requirements. If the answer to the question is yes, and off-the-shelf-tools won’t cut it, it makes sense to use a global vendor that can solve your needs at scale.
Is source scope important to you?
If you need a media intelligence partner that has strong content scope, then it’s wise to opt for a global media intelligence vendor. Reason being, global partners tend to cater to both local and global source needs, so you’ll be covered on both fronts.
We’d also recommend you looking into the third party relationships media intelligence vendors have, for example, with Meltwater, you’re able to benefit from our partnerships with leading local and global news and social companies. From Dow Jones to WeChat and Weibo, we hold partnerships with a global network of industry leaders so you can sleep well knowing that you have comprehensive coverage and insights. Furthermore, we've been able to enhance our monitoring and analytics capabilities in local markets through a string of local acquisitions over the past couple of years.
Are you concerned about a lack of single source of truth in your reporting efforts?
By having one centralized media intelligence vendor, you can trust that your teams are using the same data, KPIs and reporting systems. This aids consistent measurement and reduces siloed working, helping you to benchmark regional teams against each other and against your global and local competitors. One global solution also lessens the chance of duplicating work, whilst helping you to truly see where your budget is best spent.
Unified reporting will only come from having a unified global media intelligence provider, so if you’re concerned about consistency consider your global partner options.
Hopefully by now you have a better idea of the types of questions to consider when deciding whether or not to opt for a global media intelligence solution. This blog, Deciding on a Multiple VS Single Vendor Approach, weighs up the pros and cons of each, have a read and inform your decision making process.
For those of you who aren’t familiar with Meltwater, we help over 30,000 companies to decipher the voice of the customer, the competitor, the industry, regulatory bodies, the detractors etc. We surface insights, creating a more resource-rich environment for actionable decision-making. We do this with core competencies in software and technology, global scale in terms of infrastructure and human capital, and a track record of innovation through in-house development and key strategic acquisitions. With a presence across six continents and clients present in 125 countries, we pride ourselves on global experience and local expertise. Our Enterprise Solutions team is spear headed by Account Directors who coordinate responsibilities across the globe to provide a consistent and unique service. If you want to learn more about our global media intelligence solution, fill out the form below.