Kantar Media SRDS and James G. Elliott Co., Inc.
2016 STUDY OF MEDIA PLANNING AND BUYING
A strong grounding in research and data analysis is a primary characteristic of projects conducted by Ads&IDEAS®. The consulting team knows how to obtain and use data to understand markets and opportunities, and strategic recommendations are grounded in data.
Members of the Ads&IDEAS® team are familiar with all the research tools available in the advertising industry including reader panels and focus groups. They have bought research from most of the major advertising industry research providers, and have been employed by the largest syndicated research companies for publications.
The Ads&IDEAS® team conducts primary research. Perhaps the best known recent effort is a joint effort with Kantar Media SRDS, the Study of Media Planning and Buying. Here is some background on the study and a few conclusions.
Three Trends Selling Organizations Must Understand by Jim Elliott
Organizations that depend on ad sales revenues must understand changes in their markets and adapt to those changes or they will not thrive. The past decade has witnessed tremendous change in the media markets: not only in the way media is bought and sold, but also in the media offerings themselves.
To better understand these changes the James G. Elliott Co., Inc. has partnered with Kantar Media SRDS over the past three years to jointly conduct industry-wide research, the Study of Media Planning and Buying. This year we added a Seller’s component to the study so we could learn more about how the perspectives of media buyers and sellers differ.
We have always known that it is important to sell the way buyers want to be sold, and that is still true today. But buyers now have different wants and needs than just a few years ago. Here are three current trends all sales executives must understand:
Sellers Need to Demonstrate Relevance--Fast
Media planners and buyers are too busy to spend much time with low priority media, so it is essential for salespeople to learn how to find the relevant story and lead with it. There are many more sellers presenting more media options than ever before, and agency media planners and buyers are responsible for understanding all those relevant to their clients. Planners and buyers reported that they now work with 4 clients and 6 brands on average.
Sellers Value Meetings More Than Agency Planners and Buyers Do
Reflecting the importance of the client, 80% of seller respondents said meetings with clients are extremely or very valuable. Meetings with agency planners and buyers are valuable to them as well, but only 43% of seller respondents said they were extremely valuable. However, only 9% of agency respondents said meetings are extremely important, showing the glaring discrepancy in how the two groups see this.
Seller Organizations Must Be Very Nimble
Agency people are responsible for analyzing more media than they could possibly meet with, so they rely heavily on responses to Requests For Proposals (RFPs) sent to selected media sellers. Ninety-three percent (93%) of media planners and buyers acknowledge that they give up to 10 days for response, but 75% of sellers report that they must submit proposals within 5 days. Either way, it is a very small window. During planning, agencies are often not sympathetic about delays caused by vacations, illness, travel, or other schedule conflicts the seller may have. To avoid missing the opportunity, selling organizations must establish a way to back up every seller with office staff or selling partners. This is important; 33% of sellers say they are never given an opportunity to change a proposal that was excluded or denied.
You may download your own free copy of the entire study or the summary, The Publisher’s Guide to Understanding the Buyer/Seller Dynamic, at http://www.srds.com/jge