Turning Vendors into Partners: Mastering Media Agency Collaboration
Attending the panel on “Making Your Media Agency Work for You” at the Procurecon Marketing 2024 felt like an insightful crash course in the delicate dance between brands and their media agencies. The session was packed with actionable tips and honest reflections, ranging from the complexities of governance to the art of contract negotiations. As one speaker quipped, “Relationships with agencies are like marriages — if you don’t communicate clearly, you’ll end up arguing about the toothpaste cap!”
Key Takeaways
1. The Evolution of Agency Relationships
Jill Rankin, who recently transitioned into managing media for a major pharma company, confessed, “I’ve learned that I have a lot to learn.” With privacy and data regulations constantly evolving, Jill emphasized the need for regular one-on-one meetings with agencies, saying, “It’s not just about what we need — it’s about understanding what challenges the agency faces, too.” The takeaway? Transparent communication fosters collaboration, even in highly regulated industries like pharma.
2. Governance as the New North Star
Loren Martin, from Constellation Brands, shared his experience transitioning to a new agency after a 12-year relationship. He underscored the importance of robust governance processes to optimize partnerships. “We’re not just handing off the reins; we’re building a ‘one team’ approach,” he noted, highlighting his company’s monthly business reviews and empathy charters. These tools ensured the agency and client teams stayed aligned, both strategically and personally.
3. Retail Media’s Growing Pains
Manuel Reyes, from Cortex Media, highlighted the many challenges of retail media. “It comes with an original sin,” he said, referring to the blurred lines between sales and marketing budgets. His candid insights on issues like poor data quality and low viewability metrics sparked a spirited discussion. “Who knew tracking ROI could feel like solving a Rubik’s Cube blindfolded?” joked another attendee.
4. In-House vs. External Agencies
Ray Croce-Galis, who (among other areas) manages an internal media team for Bayer, shared how their in-house model allows for nimbleness and granular data control. However, he acknowledged the constant need to stay connected to external market trends. “Our partnerships keep us sharp — it’s not about doing it all ourselves, but knowing when to collaborate externally.”
Highlights of the Discussion
One theme that echoed throughout the session was the need for clear expectations from the outset. Loren’s team, for instance, built their agency compensation model to include incentive bonuses tied to performance. “If we win, they win,” he explained, noting the importance of aligning goals between agencies and brands.
Another hot topic was transparency. Manuel emphasized the importance of understanding contracts, especially around inventory buying. “It’s like peeling an onion — you think you’ve got it, but there’s always another layer,” he joked. His advice? Partner with experienced legal counsel to level the playing field and follow up with regular audits of your agency contracts.
The session ended on a practical note with panelists sharing their golden nuggets of advice:
- Jill: “Never underestimate the power of scheduled check-ins — they’re not just meetings; they’re your lifeline to clarity.”
- Loren: “Transparency might be cliché, but it’s non-negotiable. It’s what turns a vendor into a partner.”
- Manuel: “Don’t fight the system; learn it. Then use it to your advantage.”
- Ray: “In this transformative era, don’t fear trying new things — AI, data analytics, or small pilots can pave the way.”
My Takeaway
As someone who’s seen both the client and agency sides, this session was a masterclass in managing partnerships effectively. Whether it’s about fostering empathy or getting into the nitty-gritty of ROIs, the overarching message was clear: success lies in collaboration. Or, as Loren so aptly put it, “Agencies are people too — treat them like humans, and you might just get the best out of them.”
This was definitely a session that left me inspired. After all, as one speaker reminded us, “The honeymoon phase doesn’t last forever, but a good partnership can.”
