23.02.2017 / Media Agencies & Media Mix

What is a Media Agency?

  • A media agency makes sure a marketing message appeals to consumers, appears in the right place, at the right time and that the advertiser pays the best possible price.
  • A company that advice companies on how and where to advertise and on how to present a positive picture of themselves to the public.
  • An ad agency can choose to specialize and focus on some functions like Media Buying & Media Planning instead of multiple functions. Such an organization is called Media Agency.

blog-modern_media_agency_infographic.jpg

Media Landscape:

  • Media Landscape describes the tools that society can draw on to communicate.

Values:

  • Freedom & Equality (freedom of expression & freedom of opinion)
  • Independence (from political, economical, and social factors)
  • Accessibility
  • Pluralism (variety of sources).

Trends in Fashion Industry:

  • Cutting back in print:

Magazines sales in the U.S. have continued to fall since 2014. In the third quarter of    2014, 112.6 million magazines were sold, compared to just 84.7 million in the second quarter of this year, according to Statista. Ad revenues for magazines and newspapers are also expected to fall by 5 percent this year, while digital ad spending, in general, is predicted to increase from $68.8 billion in 2016 to $105 billion in 2020, according to e-marketer.

  • Embracing live video:

Elle which produces 20 live videos a month, Teen Vogue use the feature to showcase beauty tutorials, tips, and product reviews, as well as interviews with social media influencers and beauty experts. The videos are often raw, unscripted and take viewers behind the scenes of a magazine’s office and of runway shows. Some publishers even use Facebook Live for permanent series, like Elle with its bi-weekly “Female Founders” series, which features interviews with female entrepreneurs.

  • Experimenting with Snapchat pop-up channels:

Fashion publications have also turned to pop-up channels on Snapchat to leverage the app’s popularity with young people. Vogue introduced one just before New York Fashion Week, and it now hosts an emerging channel every Tuesday and Friday. Upwards of 70 percent of the content is created solely for Snapchat, while the rest comes from its website.

  • Instagram Stories versus Snapchat:

Snapchat rival Instagram launched Stories, a Snapchat-like feature that lets users record short videos that disappear after 24 hours, and it didn’t take publishers including Cosmopolitan, Allure, Vogue and GQ long to experiment. Unlike Snapchat, which publishers complain about due to its lack of audience metrics, Instagram Stories guaranteed an audience that was already engaged. For some glossy titles, the feature has completely overtaken Snapchat regarding where they put their focus on sharing stories and behind-the-scenes content.

Examples:

  • Leo Burnett

One of the industry’s incumbents has put their money where their mouth is regarding content marketing, recently announcing a publishing partnership with the Huffington Post. Coming in high on the forefront of content is going to set agencies up for success as consumers continue to embrace authenticity and storytelling from their favorite brands. With a client roster that includes ubiquitous brands like Pfizer, Coca-Cola, and Kellogg’s, Leo Burnett is making smart moves. Notable content work: the award-winning #LikeAGirl for Always, which hits on cause marketing and storytelling authentically, showing they’ve got their finger on the pulse of culture in a meaningful way.

Location: Chicago, USA

  • Wieden + Kennedy

Wieden + Kennedy excels across traditional and digital, something that few agencies can actually say. At a time when it’s important to integrate tons of real-world and online platforms for big, successful campaigns, the pride of Portland doesn’t disappoint regarding experimentation. One recent success is a physical and metaphorical testament to W+K’s dominance in bringing together the real world and the world on the screen: their FIFA Feel the Game spot for EA takes storytelling and experiential content to a level worthy of a world cup.

Location: Portland, USA

Organization & Elements:

  • Account Executive
  • Account Manager
  • Account Director
  • Client Director
  • Head of Department

Advantages & Disadvantages:

Advantages:

  • Time-saving for companies
  • Professional approach
  • Database
  • Experience
  • Sufficient execution of tasks

Disadvantages:

  • Costs
  • Misunderstandings between a company and a media agency
  • Risk to be taken in

Tasks of Media Agencies:

  • Being responsible for the strategic recommendation of media activity for a client’s campaign
  • Working on client’s behalf
  • The planning process (analyzing the audience objectives and balancing the reach, frequency, and costs of media options to deliver a detailed media plan that maximizes advertising exposure and impact).

Media planners work closely with advertising agencies to ensure the client’s advertising budget is well spent, as well as adhering to the overall campaign strategy

Customer Insight:

A client insight, or consumer insight, is an interpretation of trends in human behaviors which aims to increase the effectiveness of a product or service for the consumer, as well as increase sales for mutual benefit.

Statistics:

Screen Shot 2017-02-23 at 5.28.52 PM.png

 

Development:

screen-shot-2017-02-23-at-5-30-12-pm

Media Mix:

  • A Media Mix is the combination of communication channels your business can use to meet its marketing objectives. Typically, these include newspapers, radio, television, billboards, websites, email, direct mail, the Internet and social media, such as Facebook or Twitter. Combining these channels in a media mix enables you to communicate in the most efficient way with different types of customers and prospects at various stages of the purchase decision, according to Entrepreneur.

Channels:

mmm_fragmentation.png

Steps:

  • Research:

Know your audience. What do they watch, listen to, and read? This presents many opportunities to deliver your message via both traditional media like broadcast and print, and interactive mediums, like social media marketing, or targeted display campaigns. It’s important that a company has an intuitive understanding of clientele, so a company understands their consumer habits and motivations and can, therefore, build a strategy with these behaviors in mind.

  • Strategy:

Define goals – brand awareness, increased reach, CTRs. What does success look like? Be specific, and find ways to measure results as work to accomplish these goals. A media plan should map out a marketing strategy for the entire year, so consider seasonality and promotions that occur annually. Once a company determined an overarching strategy for the year, a company can dive deeper into a quarterly plan. Define budget – this will determine reach.

  • Create & Execute a plan:

It’s vitally important to match marketing goals to the medium most likely to deliver the results. Considering all of the options available for placing a marketing message, there is a need to know the strengths and weaknesses of each. For instance, TV could be a place for an overall branding message while targeted display ads may be much more efficient at drive targeted website traffic for a particular promotion. Media plan should always allow fine-tuning your campaigns to meet goals. Finding the right media mix, even just within the realm of digital marketing alone, can be a challenge.

 

Sources:

  1. What is a media agency? By MediaCom
  2. Media Agency. By the Cambridge English Dictionary
  3. Media Policy for the Digital Age. By Amsterdam University Press
  4. 4 Trends that Shaped Fashion Media Landscape in 2016. By Jemma Brackebush
  5. The 33 Most Creative Content Marketing Agencies. By Newscred
  6. Media Agency. By Wikipedia
  7. The role of advertising & media agencies. By NSW
  8. “What Are Consumer Insights and How to Do They Impact Marketing Effectiveness?”. By Jule Klepic
  9. Media Consumption in Russia. By Deloitte
  10. What is a Media Mix? By Ian Linton
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