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the
problem of too much choice
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Recently
an advertiser was bemoaning that their media agency was great
with negotiating and buying, but not strong with strategy
and planning. Yet the thought of changing agencies
filled them with dread due to the time, cost and disruption
and the possibility of ending up with the same problem.
In this P3 e-news, Mark Chesterfield of P3Media
looks at the rise of strategy options and the choice
facing advertisers today.
P3
– helping people achieve commercial
purpose through creative process
Share
this with a friend or colleague by clicking on the link below
or add them to the ?p3 news? mailing list, by emailing their
details to news@p3.com.au |
selling
media strategy
Recently, one of Australia’s
largest and oldest media agencies announced its intention to
revamp its management structure with the objective of expanding its
strategic planning expertise and building some ‘centres of excellence’
around the various media disciplines.
Although arguably playing catch up with the competition, this move highlights
the very broad base of disciplines now encompassed by the term
‘Media Agency’ and the complex matrix of specialities, specialists
and players now plying their trades in the market.
Generalists
or Generally Specialists?
Most of the bigger media agencies have developed varying levels of expertise
and silos of specialisation to suit the changing face of the market.
Research, Technology, Consumer Insights, Sponsorship, Online,
are just some of the newer areas of proficiency and sit alongside
developments of some of the older functions like ‘Strategic Planner’,
‘Trading Director’ or ‘Business Manager’. One could be forgiven for
assuming that some of the latter are merely re-badged versions
of more traditional roles.
Breaking
It Down
Along with internal specialisation, P3Media has also
seen the emergence of specialist ‘consultancies’ that
concentrate in very specific disciplines and work alongside the more
traditional media agency structure.
The most obvious perhaps is the ‘new breed’ of media strategic
agency (Bellamy Hayden, Razor, Naked to name a few) that sit
apart from the implementation and buying agency in order to provide
their clients with advice ‘untainted’ by any suggestion that
they are not ‘media neutral’.
They are ‘arms length’ from the media and their remuneration is in no
way dependent on media channel selection so they can claim the high
ground in this area. This view conveniently ignores the fact
that many ‘full service’ media agencies are now also remunerated in
such a way as to make the media selection process totally separate
from the way they make their money.
Freedom
of Choice
As the now long established ‘unbundled’ market originally
resulted in the establishment of a highly competitive segment
of ‘independent’ media agencies, its evolution has seen these
specialist consultancies emerge to serve yet another ‘niche’ in the
market.
What does this really mean for the advertiser? Ultimate
freedom of choice.
Like the look of a particular
media agency for their buying ability? No problems, hand them
just that function.
Feel a good ‘chemistry’ with the strategic specialists elsewhere?
It’s theirs!
Want to use a specific researcher within another company? Have
them provide you with a proposal.
Comparative
Offering
The real problem for advertisers now is too much choice.
How do you benchmark the abilities of your current media agency?
How do you compare the efficacy of their specialist divisions
with independent alternatives? Is it better to unbundle everything
and take the best of each discipline or accept the ease of a
‘one stop shop? In a competitive review, how do you make sense
of all the claims and counter claims across so many areas of expertise?
P3Media
can provide advertisers with know-how that makes sense
of the complex range of services that now comprise the media
area. Our modular approach to service means that you can select a review
to suit your needs from a ‘simple’ Negotiating & Buying
Review, Media Process Review or Remuneration Review right through
to the complete management of a full pitch process.
To
find out how contact Mark Chesterfield at media@p3.com.au
or on 02 9279 4997.
| marketing
and advertising summit – sydney 2005 |
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The Australian Marketing
& Advertising Summit is on again on September
21 and 22 at the Sydney Convention Exhibition Centre.
Themed Partnership for Success,
P3 is
again involved, sponsoring this valuable
industry event and chairing the session on the
Use of Music in Advertising. To
find out more or to register go to www.acevents.com.au/ad2005/
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| reducing
government costs |
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Darren
Woolley, founder of P3, is speaking on “Reducing Advertising
Production Costs” at this year’s AMI 2005 Government Marketing
Conference.
Title “New Ways for Government Marketers” the
conference is an ideal opportunity for Communication and Campaign
Managers at all levels of Government to hear on the latest industry
insights, techniques and processes.The conference is to be held
at the Marriot Hotel, Surfers Paradise Wed 3 – Fri 5
August 2005.
For more information click on the link to the AMI
website
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| benchmark your
tv costs online
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P3TV provides an online service
that allows advertisers to see how their agency tv production
estimates compare to the industry benchmarks instantly.
To find out how you can get ultimate
transparency and accountability into your television production
costs go to www.p3tv.com.au or
contact Clive Duncan at clive@p3.com.au
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