Lots of advertisers wonder about this. Generally, with the idea of saving money. But whether you’re a small B2B or mega B2C company, you’re asking the wrong question.
Perhaps a better question to ask is: Can I afford not to have an agency media professional do our media?
Media planning and buying skills blend art and science. They require lots of experience with many varied media types, including new ones that spring up almost daily.
Here are the critical questions you should ask yourself to determine what doing your own media could end up costing you:
- Do I have a seasoned pro on staff, skilled in planning and negotiating? Is this person aware of going rates in a highly negotiable marketplace? And, also important, am I actually paying the media the same amount an agency would charge me without gaining the benefit of an agency to do the work?
- Do I have the internal resources to assess the proper media mix for optimal impact on my target audience? Media professionals in full service agencies have access to sanctioned media research. Can I, with only my internal resources, assess the proper media mix needed to optimize impact on my target audience? Can I objectively sort out the pros and cons of the “pitches” from various media?
- Besides the absolute costs I pay for a given schedule, am I receiving the maximum added value available? Skilled media buyers know how and when to negotiate to get values over and above the base schedule–added values that can be measured and quantified in precise terms.
- What about cash flow? Will I be asked to pay all or a portion of the schedule up front? Full service ad agencies are accredited and media charges will not be payable in any given month until the media runs.
- Who will monitor the schedules? Do I have someone I trust to suggest modifications? Handle make goods? Check the myriad of affidavits to assure proper performance against what was purchased? If shortfalls occur, who will handle the shortfall negotiations? Who will listen to the late breaking, often last minute opportunities presented by the media…some of which may be highly advantageous?
Armed with these answers, you can now make an educated decision on who is best qualified to handle your media. Almost always, an organization of any size is better off in the hands of an agency media professional. As an added bonus, you can reassign any internal media staff into more lucrative business-building opportunities.