“You just have to be opportunistic, and try to figure out what creates value... where the bottom is, what creates incremental value, and in what combinations.”
-John Malone
Like any good relationship, the one between media buyer and client is built on trust. For you to feel justified in letting me spend your money, it’s important I prove to you that I’m qualified, knowledgeable, and can get you the results you’re looking for.
But even then, if all I’ve given you is my word, how do you know I’ve served your company’s best interests? Short of polling your customers on their way out the door (the annoyance alone might cost you returned business), how do you know if your advertising has generated any profit? After all, store traffic could have increased as a result of a new location, new store manager, new product line, new return policy, etc.
Point is – it’s a fair question. And you should ask it. In fact, if your media buyer hesitates at all in answering, fire him. Because what you should hear is something like this:
“It’s important to me that my clients know exactly what their advertising dollars are doing. So, every month I’ll be sending you itemized breakdowns of what you’re spending, where you’re spending it, how much you’re paying for it, if you’re receiving a reduced rate, and (here’s the important part) what the medium is rated.”
Ratings, calculated differently for each medium, tell you just how many people are seeing each board, each commercial spot, each piece of print. That way you can decide if the exposure you’re getting is worth the price that you’re paying. An exceptional media buyer will take it one step farther. They’ll also chart your buy over time, allowing you to compare company profits with company advertising efforts.
It’s your money. You have a right to know if it’s worth spending.
Jaime Smith, Media Buyer
The Russo Group
Finding MB Right – Choosing the Perfect Media Buyer for Your Business
WANTED – LOVABLE BO* SEEKS EXPERIENCED MB* WILLING TO COMMIT, READY TO LISTEN, AND CAPABLE OF PRODUCING REAL RESULTS FOR THE MONEY. MUST BE PROFICIENT IN MEDIA SPEAK AND SCHMOOZING SALES REPS. WOULDN’T HURT TO ENJOY COOKING, SPENCER TRACY MOVIES, AND LONG WALKS ON THE BEACH.
If only finding the right media buyer were as simple as placing a personal ad. But if you’re like most of my clients, when you begin the search, you’re not only unclear about what you want, you’re unsure of what you need.
In fact, the only reason you’re willing to play Media Buyer Connection at all is because, well, the advertising you’ve placed on your own has been expensive and a waste of time.
So let me put on my Yenta hat and list some of the must-have qualities of any good media buyer.
1) Overall Business Savvy – you know, the typical organization, communication, and leadership skills necessary in any professional.
2) Experience – even the nicest network sales reps feed on new blood, because their commission trumps all other concerns, especially for your well-being. And you can’t really blame them, even sharks have to eat.
3) Connections – absolutely essential because the rates they secure will depend on the connections they’ve developed over time.
4) Foresight – to get the best rates and secure the right spots, buys should be placed a year in advance. It goes without saying that a buyer who sends you memos dated 2006 might not be right for you.
5) Compulsive – tried to think of a more flattering term, but trust me, you want compulsive, even obsessive compulsive, when it comes to the person who’s tracking your advertising flow. A placed the buy. Has artwork been submitted for purchased spots? Does the bill correspond with the agreed upon price (remember the sharks)? Is the light working on your board? These things are important because you deserve to get what you paid for.
Will finding the right media buyer be painful? Probably. You might have to date around a bit before you finding Media Buyer Right. But be picky, be direct, and fate will have its way.
*BO – Business Owner
*MB – Media Buyer
Jaime Smith – Media Buyer
The Russo Group
If only finding the right media buyer were as simple as placing a personal ad. But if you’re like most of my clients, when you begin the search, you’re not only unclear about what you want, you’re unsure of what you need.
In fact, the only reason you’re willing to play Media Buyer Connection at all is because, well, the advertising you’ve placed on your own has been expensive and a waste of time.
So let me put on my Yenta hat and list some of the must-have qualities of any good media buyer.
1) Overall Business Savvy – you know, the typical organization, communication, and leadership skills necessary in any professional.
2) Experience – even the nicest network sales reps feed on new blood, because their commission trumps all other concerns, especially for your well-being. And you can’t really blame them, even sharks have to eat.
3) Connections – absolutely essential because the rates they secure will depend on the connections they’ve developed over time.
4) Foresight – to get the best rates and secure the right spots, buys should be placed a year in advance. It goes without saying that a buyer who sends you memos dated 2006 might not be right for you.
5) Compulsive – tried to think of a more flattering term, but trust me, you want compulsive, even obsessive compulsive, when it comes to the person who’s tracking your advertising flow. A placed the buy. Has artwork been submitted for purchased spots? Does the bill correspond with the agreed upon price (remember the sharks)? Is the light working on your board? These things are important because you deserve to get what you paid for.
Will finding the right media buyer be painful? Probably. You might have to date around a bit before you finding Media Buyer Right. But be picky, be direct, and fate will have its way.
*BO – Business Owner
*MB – Media Buyer
Jaime Smith – Media Buyer
The Russo Group
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