Media Buying Summit Recap: ‘A lot of lawyers involved:’ Agencies prep for life beyond the cookie

By Sara Jerde

Nobody gets into advertising for a quiet life, and agencies have more than enough challenges keeping them busy as we hurtle forward toward 2022. There’s the perennial question of post-cookie solutions, advances in programmatic technology, shifts in the way agencies and clients work together, and problems in the CTV sector that urgently need to be addressed. All this against the backdrop of the “Great Resignation,” which is leaving many agencies short-handed at a time when they need skilled people more than ever.

From Oct. 18 to 20, Digiday’s Media Buying Summit convened in Miami, bringing together some of the best minds in advertising. Over the three days, we heard from leading agencies, ad tech companies and other players about which of the above priorities they’re most concerned with right now, what challenges they’re planning for, and what you can do to stay one step ahead.

The shift from vendors to partners

We’re seeing a fundamental shift in the way agencies perceive the client-agency relationship. Dave Kersey, svp and executive media director at GSD&M, contrasted the traditional retail dynamic of agencies pitching and competing relentlessly to win clients’ favor with the communicative, mutually supportive mood of the early months of the COVID-19 pandemic. That has yielded a new landscape in which Kersey said agencies are positioning themselves as “thought leaders and partners” rather than vendors.

According to Kersey, the opportunity for agencies now is to forge enduring relationships built on consistent support and open communication between agency and client. The challenge is leveraging that opportunity to maximum effectiveness. That begins with agencies being proactive in telling the client what they should be doing, and making sure the client knows the agency has their back.

“They rely on us to be that media voice 100% of the time,” Kersey said. “Thinking about the space, audiences, how to make an impact and how to drive positive solutions and outcomes for the brand. So the opportunity is to show them that’s why we’re here when they can’t focus on it 100 percent.” A recurring theme was the centrality of people to an agency’s value. No matter how sophisticated the tech, an agency is its people, and they are the core of your client relationships. “No bot is going to come to my funeral,” said Josh Palau, chef media and activation officer at PHD.

Hiring and retention amid the ‘Great Resignation’

Talk of the “Great Resignation” has been all over the media of late, and chances are you’re feeling the crunch within your own organization. As one of the biggest advertising players in the world, Dentsu International is grappling with this issue in all its nuances and complexities. Dentsu’s global director of talent, leadership and organizational development, Caroline Vanovermeire, joined us to discuss how the company is approaching the biggest recruitment challenge in living memory.

Vanovermeire said Dentsu is thinking of the phenomenon as the “Great Reappraisal” rather than “Great Resignation,” and she said the company is evaluating different facets of …read more

Source:: Digiday