Making the case for media monitoring in the Caribbean.
Media InSite’s CEO Allison Demas Presentation to the CBU in Havana.
Would you like a trip to Havana to speak at the 47th Annual General Assembly of the CBU (Caribbean Broadcasting Union)- YES PLEASE!
Havana is an amazing city, and I will be back. What a great place for me to be presenting to the talented group of media professionals that make up the CBU.
This past Monday, October 24, I had the chance to the lay out the case for the important role that Media Monitoring will have in advancing competitiveness in the Caribbean’s media landscape. See the funny image of a fluffy dog in front of a fan on full blast in the header for this story. And I asked you to imagine that you are a media professional who is focused, quite correctly, on the impact of activity taking place in your business. You think you have a good handle on what is driving the successes in your media business and what the challenges are. Now imagine that all that data that is funneled into your decision-making process can be represented by the air sucked in and blown out by the fan, in our picture, onto our fluffy dog. Now let’s imagine you could ask that dog a very simple question, “What way is the wind blowing?” From the dog’s perspective, the wind is coming from the fan. But we want to know the WIND direction. While your focused on your fan, it is important not to forget the big picture. What is the wind doing? What forces are at work outside of your immediate control. Yes, the fan is moving air but is it a reliable gauge of wind direction? Think of the role of Media Monitoring as that of an industry weather vane that allows you to see market level effects and trends. An independent gauge that lets you look beyond the wind you are feeling directly on your face and gauge the currents affecting the whole market.
I founded Media InSite in 2011 in Trinidad and Tobago, today we actively monitor and report on the media markets of Trinidad and Tobago, Barbados, Guyana, and Jamaica. With plans to keep growing so that we will eventually be able to report on every market in the CBU, and possibly beyond. In these market’s we answer the question that faces media and advertising professionals, how do you measure what’s going on outside your doors? How do you measure what’s going on across the street, so to speak, over at the other media houses or advertisers?
We provide solutions for the person who wants to have their fingers on the pulse of the market. Through our online dashboard that gives you access to near real-time data, allowing a person to track what advertising is running. Or, if someone wants to track data monthly, quarterly or yearly. We provide standard and customized reports that give you periodic insights into all the advertising activity in your market. Or a combination of the two where you have access to the near real-time data and get scheduled reports to inform your decision making. We keep you informed and on top of everything happening within your market(s).
This ability to make informed business decisions that take into account the big picture will be key for media companies across the Caribbean. Successful Caribbean companies, in general, are increasingly leaving behind ‘instinct’ driven decisions and embracing data-driven decision making. They are informing their toughest decisions with insights drawn from databases of customer, vendor, and competitor information. They are advancing competitiveness through the collection and analysis of large data sets.
Media houses are no different. They need data-driven insights about their audience, their customers, and their competitors. Anecdotes from the sales team and conventional wisdom about the market may be useful, but they may also be leading you astray. You have to balance street smarts with hard data. If you want to remain competitive you need to have more than one shaggy dog in front a fan, you a high tech weather vane pointing out trends in the marketplace that you can analyze and interpret to make the decisions that will affect your media companies future.
Media InSite is an independent, Port of Spain-based advertising data service specializing in competitor intelligence and ad placement auditing for brand managers, ad agencies, and media houses. Operating since 2011, the company records and indexes advertising content in Barbados, Grenada, Guyana, Jamaica and Trinidad & Tobago.
Statistics in this report are based on information from our proprietary digital system that logs all instances of pre-recorded spot advertising on monitored radio, TV, and cable channels along with staff-indexed newspaper display advertising content.