Media agency contracts are hot topics within the industry. And while important they alone cannot deliver the transparency or trust required. Rather than thinking of ways to beat media agencies into submission, marketers and their advisers need reward media agencies for delivering the results required. Find out how in a Golden Minute.
Don’t get me wrong, media agency contracts are important.
But there are lots of media agency contracts these days.
Everyone seems to have one.
Recommended by the AMA, the ADA, the EBA and the BAD.
These contracts recommend data ownership, financial audits, compliance and governance requirements and various punitive measures.
While it’s important to define terms and conditions the fact is these are difficult to enforce and therefore do little to improve the media situation.
You need a dual approach.
Not just a stick to beat the agency but a carrot based on sharing value created.
Without balance your media agency contract may end up not worth the paper it is written on.