The K2 Intelligence report released June 7 identified the increasing complexity of the media-buying landscape and the corresponding struggle by advertisers to respond to those rapid changes as key factors that have enabled the proliferation of non-transparent business practices in the U.S. market. ANA and Ebiquity/FirmDecisions have now issued the much anticipated follow-up report, “Media Transparency: Prescriptions, Principles and Processes for Advertisers” which offers a number of recommendations and guidelines. A key recommendation is that advertisers are responsible for more active stewardship of their media investments.
Media is the largest marketing expenditure at many companies and, simply stated, advertisers should be responsible for assuming greater internal stewardship of their media investments. They need to “lean in” and be more active overseers of their media spending and take a hands-on role in all media-related decisions.
Over the years when discussing media management issues I have many times heard the phrase, “That’s why I hire my agency.” Some advertisers immediately default all media management responsibilities to their media agencies, and that’s a mistake. Those who fail to exercise active internal stewardship do so at their own risk. Some specific guidance:
Media is no longer relegated to the last ten minutes of agency new business pitches. Media is where the “action is” in the advertising industry and more marketers must lean into that action.
“Media Transparency: Prescriptions, Principles, and Processes for Advertisers” is available on the ANA website at www.ana.net.
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