For top media agencies and small independents alike, media-planning and -buying duties represent the biggest chunk of many advertising budgets. In the last two years, however, some $7 billion in media accounts have been consolidated, according to Kantar Media in Ad Age. Although this benefits the top media agencies like MediaVest, Mindshare, MPG, ZenithOptimedia and OMD – it’s been less fruitful for the smaller, independent media shops that have not been able to compete on volume and range of capabilities.
As the top media agencies know well, consolidating agency rosters is a common occurrence in times of sluggish macro-economic growth. The drive to consolidate, most frequently to the already large top media agencies, has also been encouraged by the global expansion of top marketers. Marketers also found that contending with different agencies in different regions of the world often created more issues than it resolved, thus also adding to the drive to move business to a single media planning agency to handle planning and buying.
Trust Us As One Of The Top Media Agencies
But as everyone knows, you can’t consolidate your way to success. What matters now is still what has always been important. Whether a top media agency or a smaller independent media shop, the ability to introduce greater visibility and accountability into the media planning and buying process has always been mission critical. In the context of the broader economic slowdown, this has become more important than ever. The good news is that converging technologies have increasingly put real-time data into the hands of media planners and buyers.
One new tool designed to help make the life of a media agency easier is LogicLab. LogicLab gives the whole range of media agencies the ability to access powerful analytics backed up by advertiser and media data to calculate both campaign planning efficiency as well as efficacy of campaign results. Check out www.logiclabinc.com for more details.
