"Post-K2" A Manifesto For Media Change
ID Comms identifies six steps for brands
to take control of media
ID Comms has responded to client demand for advice on the issues identified by the ANA’s Media Rebate report by creating a manifesto for media change.
We believe that all advertisers – not just those in the US – should use the ANA report as a catalyst to improve media transparency and capability to drive stronger ROI in future.
The Manifesto outlines six steps that will ensure marketers define the right strategic approach to taking more oversight and control of their media investments. It protects media value, reduces risk and unlocks competitive advantage.
Now (June to July): Identify risks and reassure internally
1. Manage internal communication. Marketers and procurement need to start to establish their position and define the scope of action they are taking to reassure and align internal stakeholders.
2. Review existing media agency contracts. Brands need to take control of their media agency relationship, as defined by their contract. They should be looking to identify and action immediate areas for contractual improvement.
Next (August - October): Take action to protect or improve your position
3. Restructure your media audit. Brands need to redefine the scope of media auditing services they require for transparency as well as defining internal KPIs for media performance
4. Get control of media planning. Brands need to get full visibility over the agency planning process and properly evaluate and validate all planning recommendations and vendor selection.
Future (November into 2017): Commitment to strong governance
5. Get a mandate for media. Marketers should work hard to raise the profile of media as a company investment and secure board permission to invest in governance. Then consider a new blueprint for the media agency they need.
6. Invest in media capability. Marketing and procurement teams should rigorously assess their own capabilities and the key gaps where they need to improve, developing recruitment and training solutions.
Brands around the world need to respond to what’s been identified by K2 Intelligence. Improving the transparency and return on media investments, requires greater control of this huge area of spend and that means getting governance in place and boosting internal media expertise.
Click on the button below to download a more detailed version of the “Post-K2” Manifesto infographic in print-ready quality.