In light of delays in budget approvals, increased workload for smaller teams, and heightened legal oversight, your paid media campaigns might be at risk of being delayed or paused due to contract stalls in finance or procurement. At Mediate.ly, a dynamic demand-gen paid media agency specializing in connecting the dots between audience and action, we understand that how we address delays is critical to the success of our clients. With a strong background in industries such as health, education, financial services, and manufacturing, our team is well-versed in overcoming these issues. We’ll explore actionable strategies to empower your clients, expedite contract approvals, and ensure smooth and timely marketing campaign launches, even in the face of procurement sluggishness.
Allow Sufficient Time for Client Review
Provide your client enough time to thoroughly review the contract before sending it to finance. While 3-4 weeks may have sufficed in the past, we recommend initiating the process at least 2 months prior to the media's intended launch. By allowing more time, you facilitate a collaborative environment where potential issues can be identified and addressed early, minimizing the chances of last-minute delays.
Leverage Data and Analytics to Highlight Financial Consequences
In today's digital landscape, data and analytics play a critical role in decision-making. When faced with procurement delays, you can leverage the power of data to showcase the potential financial impact on campaign performance and ROI. Utilize historical campaign data, market trends, and audience insights to build a compelling case for expediting the contract approval process. By providing concrete evidence of the missed opportunities and the potential growth that can be achieved through timely campaign execution, you can sway decision-makers in moving the process forward.
Consider the Effects of Pausing Digital Campaigns
When digital campaigns are paused, it's important to acknowledge that they may require some time to regain momentum upon reactivation. Most clients are eager to avoid any downtime or delays during the ramp-up period. By clearly communicating the impact of going dark and the potential setbacks in campaign performance, you can leverage this information to garner support for an internal fast track.
Conduct a Thorough Risk Assessment
Conducting a thorough risk assessment involves identifying potential bottlenecks, understanding their impact on campaign timelines, and quantifying the associated risks. A comprehensive risk assessment allows you to anticipate and proactively address issues, such as budget overruns, missed marketing opportunities, or damage to client relationships. By assessing the consequences of these risks, you can develop contingency plans and mitigation strategies to ensure that your marketing campaigns remain on track despite delays. This proactive approach not only minimizes disruptions but also enhances your ability to adapt and thrive in the ever-evolving landscape of marketing.
Create Contingency Plans for Contract Delays
Outline alternative strategies that can be deployed in the event of a delay, such as temporary pivots in messaging or reallocating resources to high-performing channels. If you are anticipating delays for an upcoming fiscal year, consider slowing down current spend to allow for some budget to bridge the gap. By proactively addressing potential delays, you can ensure that your paid media campaign remains adaptable and resilient in the face of unforeseen challenges. This strategic approach not only safeguards the success of your campaigns but also demonstrates a commitment to flexibility and client satisfaction.
By implementing these strategies, you can mitigate the risks associated with procurement slowdown and ensure a timely and successful campaign launch. In today's dynamic marketing landscape, adaptability and proactive planning are key. Empower your clients, harness the power of data, and communicate effectively to keep your marketing campaigns on track, regardless of contract delays in finance and procurement.