NEW YORK: WPP Group has announced a major restructuring of its global media network MindShare. It is to divide the agency into four separate disciplines: business planning; content creation; media buying; and client services.
The plan will combine the various current elements of MindShare – including its digital arm, MindShare Interactive – into these four overarching areas, in an effort to clearly define the company's offerings and demonstrate the clear value of each.
Says Scott Neslund, the ceo of MindShare's North American operations: “It's better to reinvent business when you are doing well. Our goal is to provide stronger leadership for our partners. We think media should be at the center.”
Media buying will mainly be managed by a division called The Exchange, which will handle traditional and digital media, possibly also moving into buying its own media space to sell on to clients.
The Business Planning function – likened by some commentators to consultancy giant McKinsey – will use consumer research and sales and distribution data to spot business opportunities and trends for brands represented by the company.
The Client Leadership division will act as the primary point of contacts for clients.
According to Nesland, the Content Creation arm will show “what media strategy can do is invent advertising space”.
It will handle strategic and contact planning alongside more creative roles such as branded integration on TV and the internet, as well as looking for relevant sponsorship and retail opportunities.
MindShare has been operating for eleven years, with global billings of over $21 billion and 97 offices worldwide. It is the largest media buyer in the US.
Data sourced from AdAge.com; additional content by WARC staff