FIVE Reasons to Hire a Media Planning & Buying Agency
Understanding the nuances of paid media is challenging for most business owners and CMOs. Despite what you may have heard about the value of earned versus owned media, when it comes to getting your message in front of the right audience, paid media is unbeatable.
Many companies are reluctant to enlist the services of a media buying agency, either because they aren’t exactly sure about what media planners and buyers do, or because they believe bringing those services in-house would be more beneficial to the company from a cost-savings analysis.
The truth is there are huge benefits to working with a media buying agency. Here are five of them.
1. BUYING POWER
No offense, but unless you’re spending tens or hundreds of millions of dollars you probably don’t have the buying power of an agency. With Buying power, you can leverage the combined media spend of the agency to create better access and more efficiencies for all clients.
2. YEARS OF EXPERIENCE
Would you rather have a heart or brain surgeon fresh out of medical school or one that has performed hundreds of procedures over the course of decades? Experienced media agencies understand not only how to plan and negotiate media, but they have proven media strategies for optimizing current campaigns or building go-to-market new clients to market. The expense associated with hiring a media agency is offset by a realized savings associated with getting the strategy right the first time and not learning what works over time. They have also established long-standing relationships with different media vendors and can work these influences on your behalf.
3. AN OUTSIDE PERSPECTIVE
A media agency can offer a new perspective of your marketing objectives and strategies. Agencies are in the trenches negotiating media all the time. Being constantly in the market means a greater understanding of how media rates fluctuate daily. And because they work with multiple clients across industries and business verticals, agencies have a unique perspective on how media strategies work for different types of businesses. Their experiences help them come up with fresh ideas for tackling your biggest challenges and finding your best audiences.
4. THEY HANDLE THE DIRTY WORK
If you plan on buying media yourself, be prepared for a laundry list of to-dos. There is a lot more that goes into planning and buying than meets the eye. Here are just a few of the day to day tasks media buyers handle every day:
- Integrating data from multiple platforms to properly plan (1)
- Establishing relationships with platforms and vendors
- Negotiating and activating media buys
- Trafficking spots
- Reconciling invoices
- Posting Ratings
Working with a media buying agency will allow you to focus on your business so it scales most effectively, while the media agency focuses on what they do best… planning and executing effective media campaigns.
5. ACCESS TO DATA & TOOLS
The biggest weakness amongst in-house media buying teams is on the planning side. In-house buyers lack the data and tools necessary to identify and engage key audiences at scale. Working with the right media agency will allow you to leverage advanced tools for planning media buys with less waste and greater response.
haloAMP™ is Wingman Media’s proprietary Audience Management Platform that helps advertisers target purchase ready audiences with maximum efficiency.
haloAMP™ leverages your first party data to build a holistic view of your key audiences and offers deep insights on how to reach them across your media buys. Click below to learn more about how haloAMP™ works.
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