Forget ROI, What About The Return On Time Invested?
Ability to measure return on investment (ROI) is a hallmark of the modern marketer, but what about return on time invested (ROTI)?
The fact is, there is virtually no return on time invested. ROTI is calculated as time saved divided by time invested, meaning for many marketers, the ROTI is negative.
Workloads are growing larger, time frames are getting shorter, the systems being used are becoming increasingly complex and, in some cases, budgets are getting smaller.
Time is one of our most valuable commodities because no one has it. You can never get it back once it’s gone.
But the tide is beginning to turn for the time-poor marketer. It is those that are able to use their time more effectively that are enjoying the most success. One integrated performance marketing company is giving marketers back their time through an intuitive process that streamlines campaign management.
Bench, a MarTech solutions provider, realised the painful inefficiencies of programmatic workflow and has developed a campaign management platform to solve this challenge. It has proven to deliver an 86 per cent reduction in time spent on tasks throughout the programmatic workflow cycle.
One of the biggest time wasters is without doubt the spreadsheet and reporting that speaks to the campaign workflow. The art of navigating through multiple systems to keep track of spending has become an unwanted skill for many marketers.
Bench gives its customers the ability to manage reporting through real-time analytics via the Bench Platform, allowing for immediate changes to spending and limiting the reliance on the documents. Campaign agility at its finest.
Gil Snir, Chief Commercial Officer at Bench sees this as the missing link in programmatic. “Providing our businesses with a single campaign view has turned media planning into a seamless, real-time process,” Snir said.
Mediahub managing director Andrew Livingston knows about the marketer’s time constraint all too well. “The more tools and systems we’ve been adding for siloed tasks, the more they pile up and it is actually becoming time-consuming for the team just to manage them all,” he said.
Similarly, rather than spending hours on a brief that will most likely end up in the bin, marketers can pull the main metrics from a brief into an automated workflow and start building a digital media plan.
“It means we’ve increased speed to market and created more time to focus on strategy and gaining unfair share for our clients,” Livingston said.
The concept of automation is often met with the fear of human jobs being lost to robots.
In some cases, this is a valid concern. But the reality is automation’s greatest value is its ability to free people from repetitive and monotonous tasks and allow more time to be spent on the innately human activities like problem solving and creativity.
Research from consultancy firm McKinsey & Company recently found Australian workers will spend over 60 per cent more time using technological skills and over 40 per cent more time using social and emotional skills due to automation.
Bench demonstrates this potential through its ability to give marketers the parts of their day that they enjoy and ultimately asks the question– if you had the time back, how would you spend it?
This article originally appeared in the Jul/Aug edition of B&T Magazine. Don’t miss our next issue by subscribing here.
Latest News
X Defends Record On Removing Child Abuse Content As It Promises A Safer Environment For Advertisers
B&T warns this article references the murky & sordid world of online child abuse. Plus, the murky & sordid Elon Musk.
Thursday TV Ratings: Seven Just Beats Nine With The Chase Coming Out Top
Is there a study into the correlation between Thursday's diminished TV numbers & the increased sale of pub schnitzels?
Indie Agency Communicado Raids Thinkerbell For Its Two New Associate Creative Directors
Thinkerbell duo depart for rival agency Communicado. Leaving speeches were said to be convivial but restrained.
“Utterly Irresponsible!” Sportsbet Slammed For Near-$20m Marketing Blitz As Gambling Ban Approaches
Smokers have been picked on for 30 years, now it's time for the gamblers. And the drinkers should start getting nervous.
Casella Appoints Dig As Creative Agency On Yellow Tail Wine
There's three givens at B&T's Friday staff drinks - the Yellow Tail, the Cheezels and the incessant bickering.
Seven Prioritises The Matildas Over The News AND The AFL In Extraordinary Decision Ahead Of The Women’s World Cup Quarter Final
Scott and Charlene's wedding now under serious threat as Saturday's Matilda's game threatens to smash all TV records.
News Corp Earnings Down Across The Board Despite Jump In Subscribers
Rupert can't find a coin for his ALDI trolley as News Corp earnings drop calls for renewed round of belt tightening.
Despite The Outrage & The Bans, The Sports Bet Category Remains Adland’s Zaniest (See This!)
The Guardian may no longer be running sports bet advertising, but as you'll read here, B&T has far less morals & ethics.
Last Chance To Buy Tickets For This Year’s B&T Women In Media Awards!
B&T's not giving away too many secrets to the Women In Media Awards suffice to say two words - chocolate and fountain.
The Trade Desk, Magnite & LiveRamp Deliver Growth, PubMatic Flat In Q2 Earnings
B&T's calling this your Q2 earnings wrap. We even considered wheeling out "must read" to help it along a bit.
Cinema Chain Spoofs Classic Movies In Wonderfully Funny Work To Entice People Back Into Theatres
Call it the Barbenheimer effect, but cinema's suddenly cool again. Yet, absolutely no uptick whatsoever for drive-ins.
Mediabrands Launches Internship Program For Aspiring Media Professionals
Mediabrands are on the lookout for young, enthusiastic go-getters for its internship program. But then, aren't we all?
Nike Celebrates The Matildas & Young Aussie Female Athletes In New Work By Conscious Minds
In what can be best described as a rare treat, it's a localised Nike ad. Kinda like finding the milk's not out of date.
Why Your CX Technology Should Focus On Connections
This expert opines it's not about your newfangled tech stacks, it's about your customers. Even the ones you detest.
WPP & Optimizely Partner To Bring Informed Digital Experiences To Brands & Consumers
Often think WPP's a 'canary in the coal mine' for industry trends? Well, avoid the black lung reading this latest.
Dylan Alcott & Hnry Team Up To Relieve Aussie Sole Traders Of Scary Tax Admin
Can the effervescent Dylan Alcott make tax admin even remotely interesting? Watch as he gives his best shot here.
D&AD Shift With Google Sydney Announce Class Of 2023
Need to poach some hot young agency talent? Poach away here, but just don't rat on B&T for the heads up.
Digital Media Agency Bench Rebrands To The Digital Disruption Agency
You could say Bench has been benched, as agency rebrands to the Digital Disruption Agency.
Seven Appoints Indie Creative Agency Emotive To Reshape Broadcaster’s Brand
Seven planning a brand zjoosh and spring clean. Although the offical corporate red and the number 7 is off limits.
Elon Musk Says The ABC Prefers “Censorship-Friendly” Social Media
It appears the ABC's found a new enemy in Elon Musk. However, News Corp remains entrenched at the top of the enemy list.
Wednesday TV Ratings: The Chase Just Beats The Block To Entertainment Win
Nine wins Wednesday night. However, Seven tells rival you'll get that and more come Saturday's Matilda's match.
B&T’s Best Of The Best Technologists, Presented By Finecast, Part Of GroupM Nexus
Somewhat ironically, this top 10 technologists list wasn't written with any help from ChatGPT or AI whatsoever!
Former Woman’s Day Editor Fiona Connolly Appointed Head of News’ Lifestyle Network
You could say ink runs in the veins of women's magazine veteran Fiona Connolly. And sponge cake recipes.
X Adds Brand Safety Tools In Bid To Bring Back Ad Dollars
Elon back contemplating the colonisation of Mars after finding this whole Twitter thing one huge headache.
ACMA Rules Kyle Sandilands’ Monkeypox Comments Breached Decency Rules And Were Offensive To Gay Men
Watchdog rules Kyle offended gay men. Punishment includes listening to Barbra Streisand & Céline Dion CDs on repeat.
Ozzy Osborne Bites Off More Than He Can Chew With Banned PlayStation Ad
Ozzy Osborne continuing to surprise. No more so than the fact that he's actually still alive and kicking.
Swisse Wellness Wheels In the Celebs To Stop Late Night Doom Scrollers
Is your sleep routine two Quaaludes and a swig from the sherry bottle? There's tips here for a more blissful night.
“All Good Things Must Come To An End, Well This One Barely Got started!” Jerker Fagerström Quits Thinkerbell After Eight Months
Thinkerbell fridge sans all smörgåstårta & pickled herring as Jerker Fagerström heads for the utgång (exits).
Footballing God Cristiano Ronaldo Bumbles His Way through New Work For Fan App Zuju
This ad proves Cristiano Ronaldo is just one of the guys. Just a filthy rich one of the guys, that is.
Samsung Ads’ Marj Hetherton On Why CTV Is The Most Exciting Area Of Advertising
Samsung Ads' Marj Hetherton says CTV is the most exciting area of advertising. That and nine-hour client lunches.
CommBank Matildas REMOVES Tim Tam TikTok Following B&T Story
If Tim Tam's marketing team wants to send B&T some freebies for this free press we'll take any flavour but mint or dark.
Tinder’s New Global Campaign Says Online Dating Need Not Be An Unrivalled Hell
If there were truth in advertising, these spots would feature a drunk bloke with poor hygiene who lives with his mother.
ADMA Adds New Speakers For Upcoming Global Forum
ADMA confirms speaker line-up for upcoming Global Forum. Also, 300 arancini balls locked-in for the networking drinks.
IMAA Census Predicts Growth In BVOD/CTV, Digital Video And Podcasts
The IMAA census is like a finger on the pulse of Australia's adland. And we all need a solid finger now and then.
Prestige Brands Targets Gen Z With Racy Billie Eilish Perfume Ad Via Spark Foundry
Billie Eilish the latest celeb to release a fragrance. Meanwhile, B&T still waiting on an Angus Young eau de toilette.
The Australian Women’s Weekly Celebrates Its 90th Birthday
The Weekly celebrates its 90 birthday. B&T believes the first-ever copy is still in our GP's reception.