Room for improvement in media agency models

Among major multinational brands, just one in ten (11%) thinks their current agency model fits their future needs.

That’s according to research* from global media advisors MediaSense, in partnership with the World Federation of Advertisers (WFA), which also revealed that: 

• two-thirds (64%) felt they had the correct model but there was “room for improvement”;
• a quarter (24%) believed their model was unfit for the future.

Why agency models matter 

“Clients are looking for a more ‘networked’ model, where global agency capabilities can be leveraged to unlock speed, agility and talent,” explains Catherine Lautier, VP, global head of media & integrated brand communication at Danone. “Yet the gap between expectation and reality is found to be largest for these very attributes.” 

Lautier, who is also people and partners co-brand champion within WFA’s Media Charter, adds that “as an industry, we have work to do to come up with the models and approaches that unleash greater effectiveness”.

Takeaways 

• 45% of respondents to the study said they are looking for more flexibility, specifically in the way they are serviced.
• 37% are looking for simplification through fewer and better integrated partners.
• 97% rate access to talent a key priority for the future, alongside 92% for integration, and 92% for greater speed.
• While media and creative requirements remain distinct, one in four of those surveyed plans to consolidate media, creative, data and technology.
• Almost half (47%) agree that the need for specialist agencies will remain strong; the research identifies a high level of appetite towards retail media, influencer and in-house support as key disciplines where specialists can thrive.

Key quote

“The traditional media agency model is evolving. The focus is on a more ‘networked’ model, where global agency capabilities – regardless of where they are based – are being leveraged to unlock speed and agility and improve access to talent” – Matt Green, Director of Global Media Services at the WFA.

* The Future of Media Agency Models report is based on a survey of more than 70 multinational companies representing in excess of $50bn in ad spend.

Sourced from MediaSense