The Best Way To Bring Media Planning and Buying In-House
As trust has diminished between brands and agencies, bringing media buying in-house is a rising trend and topic of interest. There’s only one catch, brands and companies soon realize that in-house marketing, media planning and buying is not as easy as you might think.
From our experience, companies that have taken media planning and buying in-house experience challenges in three key areas. First, it’s harder than they thought it would be; second, it requires talent they’re not skilled to hire, and third, it costs way more than they’d expected. We’ll start off with the highlights of the study and wrap up with options to support your needs, whether you’re an in-house team, traditional agency, brand or corporation. If you’re dying for the solutions, scroll down.
Forrester Research conducted a study in partnership with the In-House Agency Forum (IHAF) collecting feedback on the pros and cons of in-house agencies across 360 companies. The study validates the key challenges shared above. While the 2019 findings indicate an increase in in-house agency teams, the challenges many times outweigh the initial perceived benefits.
Not surprising, 51 percent of those leading in-house agencies came from outside agencies. However, the study shows that only 31 percent of marketers indicated their leadership was highly effective and 53 percent said that it is just somewhat effective. Leading an agency team within a corporation is much different from leading a team within an agency whose structure is designed around marketing, strategy and media buying.
One of the notable findings is how legacy red tape often stifles the potential of an in-house agency. Corporate decision-making hierarchies and operational practices often limit their ability to get things done. While in-house agencies have a fair amount of autonomy with executing projects, the majority do not operate autonomously in regard to marketing communications and creative strategy.
Over half of corporate marketers admitted to using less rigor when planning, scoping and initiating projects when using internal resources than they have historically used with external agencies. While they have more control over the work with internal teams, they use less rigor in the planning and execution process. What’s the impact on results and ROI?
The pendulum often swings to an extreme when a company gets frustrated with their current agency, has tried working with multiple agencies with similar outcomes, or is in cost-cutting mode and thinks it will be less expensive to bring all of their marketing, media planning and buying in house. The good news is that out of frustration or pressure to find a new way of doing things, new and better options emerge.
As an agency and business consultancy, we support brands and corporations directly with performance-based media planning and buying; as well as in-house agency teams. Below are the many ways that we serve both ends of the spectrum.
For Brands and Corporations
We support brands and corporations who are looking for new options and ways of meeting their brand and corporate financial objectives. Vujà Dé Digital offers a great alternative to the traditional service or fee-based media buying agency. We assume the liability of the performance we achieve being tied directly to our earnings. We align with the business goals of brands and corporations much like an employee aligns with the goals of their role within an organization.
Besides the performance financial benefits, we provide all the core competencies and the trained resources needed to achieve defined goals and objectives; without the company taking on that overhead and expense. Because our compensation is directly tied to hitting financial objectives, we have a unique mindset toward hiring experienced talent. While traditional agency models drive behavior to hire talent at the lowest cost to maintain their profit margins, we hire the most experienced talent to ensure hitting a client or brand’s financial goals.
You cannot underrate experience. We will not train junior talent at our client’s expense. We only hire experienced talent, which allows us to bring deep learnings and collective experience across decades and hundreds of campaign executions.
A challenge in-house agency teams commonly struggle with is how to keep up with the many technology changes across all of the marketing tech platforms. We maintain relationships with the big tech partners like Google and Facebook, as well as the ad serving platforms which are in constant flux. The reality of in-house agency teams is that they’re part of a corporate structure that is not 100 percent focused on advertising, media strategy, planning and buying.
Fortunately, as an agency we have infrastructures and processes in place to ensure we’re aware of impending algorithm or media buying changes to maximize the benefit or minimize the impact for our brand and corporate clients.
For In-House Agencies or Traditional Agencies
For in-house agency teams and traditional agencies, we provide specific services. As mentioned previously, technology and platform changes are a constant reality. Vujà Dé Digital offers consultation around technology products, platforms and requirements.
We provide marketplace economic trends and media costs by market, platform and placement. Because we operate from a mentality driven by achieving business outcomes, we also create marketing strategies and tactical plans that can be executed by an execution team if desired.
Our agency model allows in-house agency teams and traditional agencies to leverage specific skills, learnings and knowledge so that they don’t have to figure it out from scratch or risk the trial-and-error that can come with more junior talent that don’t have the years of experience we offer.
Brands and companies needing performance out of the gate and are needing to hit financial targets, we’re definitely a fit for you. We’re a new breed in this vast sea of agencies. For in-house teams, we can provide the calm in the storm.
We know it’s a wild ride, but we’d love to connect and see what magic we can do together.