There is often an industry obsession with the relationship between advertisers and their media agencies. But the fact is that the high performing advertisers also develop direct relationships with the various media vendors either with or without the involvement of their media agency. But what is the best way to develop these relationships to deliver the best results? And when and how should you include your media agency? Find out more here in Media Minutes.
DARREN: Welcome to Media Minutes. I am Darren Woolley STEPHEN: And I am Stephen Wright DARREN: In the next few minutes we will share with you our view on building media vendor relationships. Stephen, this is literally about the third party in an advertiser’s media ménage-a-trois. STEPHEN: Well, you could say that, Darren. But I could not possibly comment. DARREN: What I mean, Stephen, is that many people think of the media advertising relationship often as the advertiser and their media agency. But in actual fact the third party is the media vendor or owner. A ménage-a-trios. STEPHEN: That is true, Darren. The best media agencies mange this three way relationship in an open and transparent way, facilitating and managing the relationship between their client and the media owners. DARREN: That sounds healthy, Stephen. STEPHEN: Yes, Darren. But there are some media agencies who see it as their job to ‘protect’ their client from media vendors and are inclined to act as a gatekeeper, stopping access by the media salespeople to their client. Sometimes this is at the request of their client but can be because they want to control this relationship. DARREN: Not so healthy, Stephen. STEPHEN: That is very true, Darren. But media owners and their sales teams can be very adept at getting access to these advertisers direct, even if the media agency does not encourage it. And it is a good thing too. DARREN: In what way, Stephen. STEPHEN: There are a number important of reasons. Firstly, media owners have a very wide view of the market, business trends, a forward view on media content, consumer media consumption and more. All valuable knowledge they can bring to the relationship. Often, the media owners do not have a clear view of the advertiser’s business, or perhaps the information is filtered by the agency, but nothing beats a direct conversation. DARREN: It is true that media owners are big businesses in their own right with plenty of resources that advertisers could use. STEPHEN: Secondly, media owners can be a great source of introductions to other non-competitive advertisers to facilitate collaboration, but only if they have a detailed understanding of your business and marketing needs. DARREN: Media agencies can do this too, Stephen. STEPHEN: That is true, Darren. But media owners have a much broader view of the market, with relationships with almost all of the advertisers using their media. And finally, but not exhaustively, media owners are better able to propose unique or ‘media first’ opportunities relevant to your business and marketing needs. DARREN: All of these are based on giving media owners a better understanding of the advertiser’s business. Can’t the media agency do that? STEPHEN: Yes, Darren, to a certain extend they can. They can certainly share the facts, but there is nothing like building a direct relationship, particular with your main media channel owners to facilitate a mutually beneficial relationship. DARREN: And what is the best way to do this, Stephen? STEPHEN: Well as I said earlier, your media agency should be happy to facilitate an introduction with the media owners of your choice. They may even suggest the ones they believe will deliver the greatest benefit. DARREN: And if the media agency won’t? STEPHEN: There is no real reason why a media agency would not facilitate this connection. And you would have to be concerned if this was the situation you faced. But if you do face this situation, it simply requires you to reach out to the media owners direct or to take the phone call, reply to the email or take the invitation next time it is sent. DARREN: Sounds fairly straight forward. Any final advice? STEPHEN: I encourage advertisers to build relationships with the media owners and vendors, either with or without your agency. But always remember it is a commercial relationship and one that both parties should benefit from equally. DARREN: Great advice, Stephen. And for more great advice, make sure you subscribe to Media Minutes. A weekly snack on all things media. Until then. I’m Darren Woolley, and he’s STEPHEN: Stephen Wright TOGETHER: And this is Media Minutes.