Strategy, Data and Technology Must Become Core Practices
Not too long ago, media agencies were a necessary first stop for any brand that hoped to connect with its target customers. Only the agency had the information necessary to create an intelligent media plan or the relationships and cost-efficiency (due to their ability to make aggregate media purchases) required to place a buy with the appropriate networks and publishers.
But with the rise of programmatic advertising, along with machine learning/AI that is transforming the world of digital marketing, automation is forcing agencies to re-evaluate their place in the media ecosystem. After all, today’s brands have their own data for understanding customers, and a growing number of them are even buying their own media via programmatic technology. At a time when advertisers have the ability to plan and execute campaigns all on their own, agencies must find new ways of providing value to their customers.
Fortunately, programmatic presents several new opportunities for agencies to enhance their clients’ campaigns. By leveraging their vast knowledge of the digital ecosystem and training themselves in the finer points of programmatic, these firms have a major opportunity to deliver valuable consultative services to brands of all stripes. All it will take is some hard work and a little bit of creativity.
Visit Adweek to read the full article and learn about the four key next steps media agencies can do to thrive in the programmatic age:
- The modern agency must re-dedicate itself to strategy
- Agencies can guide clients through the increasingly complex ad-tech marketplace
- Data is an asset, and agencies should treat it that way
- Agencies must start with a self-assessment, then take action