Lots has been said in recent years about the complexity and challenges facing media agencies in today’s rapidly changing media landscape. This has perhaps been best articulated in the recent ‘State of the media’ session at Mumbrella 360 in June this year, presented by Trinity P3 & MediaScope.
What clearly comes to focus is the pressures and increasing complexity brought about to the client/agency relationship as a result of the rapidly changing media landscape driven by technological change and the rise and rise of digital communications. Not only are media Agencies needing to understand (and measure) audiences and their changing media consumption habits, but we are having to grow our skill sets to meet these changes head on. In fact, key positions in Agencies never existed 5 years ago (Social Media experts anyone? SEO? Programmatic trading?), nor is the investment to carry these resources met under the current Agency remuneration model.
Conversely, our clients are increasingly concerned about whether they are getting enough out of their media partners, and a perceived lack of transparency about what it is we do and how, feeds this anxiety. And anxiety creates fear and doubt, which is the deathknell for any relationship.
Much has been said on the issue of collaboration: how do we collaborate with Media owners for instance? Do we include the client in these discussions? What is Real Time Bidding (RTB)? Clients may worry about what it is they are being sold as they cannot see the product or understand the cost structures around it.
So how do we protect our client relationships in an increasingly complex environment?
Trust is key:
- Understand our model and what the model gives the client
- What skills are needed and how to meet this need
- Collaboration – with media owners and clients – together on the one page
- Transparency on Digital media, especially RTB