Selecting The Right Media Buying Agency

You know the thought of interviewing and selecting an advertising agency can be pretty difficult for a business that has never gone through the exact process, but it really does not have to be. This next article will explore the certain and appropriate ideas to consider when using a media buying agency and also some tips on how to find the best match for your company.

Does Your Company Really Need A Media Buying Agency?

This answer really depends on how much time, energy and money you actually want to put into marketing your business. Each business markets themselves in some different fashion and even if it is just a two inch ad in Yellow Pages, you are still marketing your company. Certain companies usually just do that, but if you are running a business that plans on growing, some things that worked in the past may not work in the future. This is where an advertising agency can be helpful. For example, new mothers shop at your store because you provide expertise in helping them make the correct buying decisions. Advertising agencies are experts in marketing and can provide a large range of solutions to target to your growing business. Some media buying agencies may offer you a free first time interview to assess your needs and make a few suggestions for your business. The interview should simply be a two way street and also give you an opportunity to assess the media buying agency to see if they are right for your company.

How To Interview A Media Buying Agency

Media buying agencies come in all different shapes and sizes, some can be a one person shop where others can boast 50 or more employees. Certain specialize in consumer products and services where others specialize in B2B clients or in commercial retail. Some may even work with clients in all three of those areas. If you were to run a retail company, you would want a agency that has had the experience helping retail accounts in the past. A good idea would be to obtain case histories or even success stories from their past experiences. Now when it comes to size you might want to choose an agency that you can borrow the motto of any banks today, basically what that means is you do not want to work with a agency that is so large they assign your account to a rookie who may not know much about marketing nor do you want to work with a small agency that might not be able to offer you a range of services you actually need. Finally, you want to make sure that your account executive is someone you actually like and can trust. Once the interview is final and you leave with a bad feeling in your stomach, it means the agency is not right for you. Always follow your instincts with media buying agencies.

How Do These Media Buying Agencies Charge Their Services?

There really is not one single answer to this question, simply because each agency handles things differently, but you do have every right to get all the ground rules straight before the campaign begins. First what you want to do is ask about the media buying agency's compensation method, is it free-based, commission based or a combination of both? Most agencies tend to use a combination of the fees and commission to derive their compensation. Certain fees could be charged for the creation and development of marketing pieces for example, a print ad, a radio or TV spot, brochures, direct mail piece or even a website. Commission which is typically 15% is paid by various types of media, so in other words you may pay your agency $1000 to run an ad in a magazine. In turn the agency will place the space and pays the publication $850 which will earn them $150 in commission. There is never any magic in planning a successful marketing campaign; it is the result of correct research and years of experience from trained professionals.

Surprisingly, it has been often said that an agency and client relationship is similar to a marriage. After all, if you tell your agency intimate details about your business you may not want to share it with your best friend. But as in real marriages one partner starts the experimenting where others, that all important trust is broken. Now how can you assure a healthy relationship with the media buying agency? Once you made your choice of a media buying agency, give them a shot at your business as whole. The more you tell the agency, the more you have the trust between both parties. If you show the agency you trust them, most of the time they will return that trust multiple times. It is a known fact that the more an agency knows about a business, the better their recommendations will actually be. If they only know little about your company, they can only address that certain part you provided them. The most successful agency and client relationships last for multiple years and are based on true business partnerships.