Circ IQ: crunch go the numbers

A new tool for media buyers has been developed, and is being launched today in New York, that will assess magazines' audited circulation data and come up with a score based on the advertisers needs and criteria. It's not the first such system; McPheters & Co. has launched similar services to provide both publishers and agencies with an on-the-fly database of accurate circulation data analysis.

But, according to a story in Media Post, "Circ IQ is the first product tied to a broader based media auditing organization, and is part of an expansion by firms such as Media IQ and rival Media Performance Monitoring America from TV into other media." It's designed to be a time saving devices that will enable agencies to both save on labor costs, as well as letting their planners and buyers make smarter print buying decisions for their clients.

The new tool, called Circ IQ, comes out of Media IQ, a firm created to audit the performance of ad agencies' TV buys for big marketers such as IBM, Sears, Toyota and American Express. Now, it hope to do the same thing for major magazine buys. Initially, Circ IQ will concentrate only on ABC-audited magazines, of which there are several in Canada. The Media Post story goes on:

Media IQ has developed an intricate scoring system for evaluating the quantitative and qualitative aspects of a magazine's circulation statement, as well as magazines competing in the same category. The system uses a simple 100-point scoring method, which agencies and advertisers can adjust based on their own criteria and knowledge of a magazine's strengths and weaknesses, giving them the tools to put the circulation data into context.

The system, for example, assigns qualitative values to magazines based on the amount of their circulation that is derived from "transfers," or the acquisition of subscriber lists from magazines that have gone out of business. Many advertisers might see such transfers as a negative, while some might actually see them as a positive depending on how they are derived and where they came from.

Initially, Circ IQ will focus only on ABC audited magazines, but [Mike Lotito, the head of Media Q] says Media IQ already has begun talking with BPA International, another major circulation auditor that is known primarily for business publications.

Apparently, ABC statements which over the years (and because of advertiser demand) have become too complicated for media planners. "The biggest issue is that the ABC reports is that they have become so hard to get through," notes , referring to the Audit Bureau of Circulations preliminary and final magazine audit statements. "They've become more detailed, which is a good thing, but you're bogged down in the statement, and the big picture gets lost."

Already, some of the major media print buyers in the business have subscribed, including MediaVest, MindShare, OMD, Saatchi & Saatchi, Starcom, Targecast and Universal McCann.