Media Agencies Live at the Heart of the Communications Ecosystem, Say MediaVest Executives

quotProfit and growth are stimulated primarily by customer loyalty Loyalty is a direct result of customer satisfaction Satisfaction is largely influenced by the value of services provided to customersquot reports a Harvard Business Review article published originally in 1994 and recently reprinted httpharvardbusinessonlinehbspharvardeduhbsphbrarticlesarticlejspmlactiongetarticleampamparticleIDR0807Lampampmlpage1ampampmlsubscribertrueLisa Donohue president of the Truth ampamp Design Group at media agency MediaVest whose parent company Starcom MediaVest Group is a division of Francebased Publicis is focusing her planning team on providing clients with services that emphasize quotconnecting brands with consumers through active inclusion and solid business propositions that deliver measurable valuequotquotThe current economic conditions are convincing CMO39s they have to integrate digital tools across their whole companiesquot says MediaVest chief executive officer Bill Tucker quotEveryone is on the consumer page and the digital page It39s how to do business that39s in transition There has been a sense of urgency resulting from the macro forces of the push into digital and the ensuing changes in consumer behavior and media patternsquot Tucker points out quotIt39s driving more of a balance between traditional brand advertising and customer acquisition and retentionquotWe are focused on understanding how the digital ecosystem works within the total operational and communications ecosystems For example Tucker considers social networks as part of a holistic brand solution quotViewing them as part of the ecosystem allows us to evaluate their role as a community rather than as page viewsquot he explains quotThe basic notion of building brands is not changingquot adds Donohue quotThe tools at our disposal are different and better We are focusing on how we use these tools and how we use the new data that39s availablequot The HBR article points out quotA growing number of companies know that when they make employees and customers paramount a radical shift occurs in the way they manage and measure success The new economics of service requires innovative measurement techniques These techniques calibrate the impact of employee satisfaction loyalty and productivity on the value of products and services delivered so that managers can build customer satisfaction and loyalty and assess the corresponding impact on profitability and growthquotquotClients are more willing to share dataquot Donohue explains quotbut it is not the data itself that39s the intellectual property Proprietary insights are gained from the interpretation and activation of dataquot But points out newly named MediaVest EVP Managing Director Tim Castree quotthe power of data is not yet that well understood We have probably made more progress in the past nine months than the past several years but traditional media and advertising business models are still wedded to the pastquot Tucker believes quotmedia companies need new strategies for applying data and research and for partnering to create value for marketersquot The network TV Upfront process he suggests is increasingly being managed on a clientbyclient basis with more focus on specific goals and outcomes quotWhen you project out the future of television it39s a scary proposition It39s going to be tough It is a fact that the next 12months will be more difficult economically We focus with our clients on what still delivers core valuequot says Donohue quotWe have an experimental bucket for making investments in learning and we ask what is scaling but not yet fully scaled where there are opportunities We need to deliver solid value propositions with each experiment and for those we activate we need to be able to convince clients these new models can get to scale quickly and help growth their businesses We approach these new resources from the consumer pointofview not with a technology lens They need to be part of the ecosystem and not viewed in a siloquotMedia agencies are clearly in transition as are all those who contribute to marketers39 communications with their customers The economic downturn is accelerating the need for agencies to deconstruct and reconstruct their business models and services quotNinetyfive percent of our staff has been structurally integrated into full service teamsquot Tucker points out quotIntegration is happening There has been a reinvention of media planning We are bringing in other marketing partnersquotquotMediaquot adds Tim Castree quotis at the epicenter of innovation More and more clients will coalesce around media agencies as their partners We live at the heart of the communications and operational ecosystemquotJack Myers Media Futurist For more than two decades Jack Myers has been the media industry39s leading analyst researcher and advisor on relationships among marketers agencies and media sellers providing business development services and custom insights on relationship best practices to more than 200 marketers agencies media companies and industry service providers Jack can be reached at jmjackmyerscom

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Media Agencies Live at the Heart of the Communications Ecosystem, Say MediaVest Executives

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Media Agencies Live at the Heart of the Communications Ecosystem, Say MediaVest Executives

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