Media Agencies advise companies on how and where to advertise, and on how to present a positive picture of themselves to the public. Primary services include advertising, public relations and other forms of media management.
Media Agencies were first launched with their main focus being the transaction of media space more efficiently than the mainstream advertising agencies, which had previously managed the process of media buying.
A media agency ensures that a marketing message appeals to consumers, appears in the right place, at the right time and that the advertiser pays the best possible price.
There are cases, mainly within the large conglomerates, where both media and creative agencies are housed under one roof, however, their P&L usually remains separate
In the marketing world, there are three main types of media that work to get the word out and drive awareness about your business, organization, or cause:
1. Paid Media (i.e., buying an ad in your local newspaper)
2. Owned Media (i.e., your website)
3. Earned Media (i.e., media coverage in your local newspaper)
It is hard and time-consuming to receive “earned media” unless you are you are a huge company, have an amazing story, some strong relationships in the media (that take time to build).
However, over the past few years, media has been transformed by new technologies, new methods of distribution, and new ways to consume information.
Not everyone has the time to sit down and read the newspaper or watch the news to find out what’s going on in the world. That’s not to say that publications like the Times, the wall street journal, or Sanomat are losing their influence. But with social media and blogging, everyone has a voice, and as a result, a whole new crop of influencers have popped up.
Some of them even have networks that are just as big as the circulation and reach of news outlets. For example YouTubers, bloggers, social media.
This is the great news for three reasons:
- It means you don’t need that home run piece of media coverage to get more exposure for your business or organization.
- It means you don’t need to hire a pricey PR agent to represent you.
- It means you can easily do some Pr for yourself
A simple Google search ca reveal the top blogs and Twitter handles of the people that matter most of you and your industry. Reach out to them via Twitter. Post a quick comment or give your opinion on the blog and link back to your website. It only takes a minute, and who knows what could happen.
A simple re-tweet from a blogger like Anita Campbell, the CEO of Small Business Trends, who has more than 77,000 followers on Twitter, can be just as valuable as a piece of media coverage.
A quick plug about your business from Gene Marks, a consultant who also blogs for The New York Times, Forbes, and the Huffington Post, can be just as valuable as buying some ad space.
In Vietnam market, social media marketing landscape has done so well more than expected.
The picture below shows the media landscape picture from Vietnam:
Vietnamese watch videos more than other South East Asian countries, 91% of users access to the online video weekly while only 51% of Singaporean does that. Normally, people watch online videos through an online video site/app (87%) and social networks (44%).
There is a war between local media landscape and global one: Facebook and ZingMe. The rural consumers are more familiar with ZingMe ( a social media brand from Vietnam). Just like China, they do have their own social media sites. However, we do not strictly forbid people to access to the global internet like China.
For the purpose of e-commerce, media agencies in Vietnam target all social media means. according to the table below, consumers usually use social media to discover new brands (30%), review products (33%) and compare products (60%). Differ from traditional media landscape, the number of people use online source for their buying process is double than the number of ones use TV source.
=> YouTubers and Bloggers are becoming celebrities in Vietnam, they have a huge influence on everything and buying behaviors of the middle-class group (who spent a lot of money).
An example of good media agencies is Kenh14.com. They belonged to Vingroup- one of the biggest corporation multifunctional in Vietnam: from Real Estate, the retailer of luxury goods to the entertainment company. Kenh14 is a type of online publication that maintains every news support the main objectives from Vingroup, mostly show off.
Due to the lack of the transparency in news of Kenh14, it is losing their influence at the moment. However, it creates a new channel in youtube and facebook names Trắng TV (White TV). This channel supports short videos (like BUZZFEED of Vietnam) and they are soaring recently.
All in all, when doing media in Vietnam, media agencies have to understand the power of social media means and influence of celebrities.
How does media agencie works?
Media agencies receive briefs from their clients. They can be tasked to do many different things, help launch a new camera, drive sales of a brand extension or change perceptions of a brand operating in a sensitive industry, for example.
The next step for a media agency is to seek to understand more about the people it needs to influence. MediaCom specialises in understanding consumers and spends more time talking to consumers than any other media agency. We have a project called Real World Streets, for example, which allows planners and strategists to spend time with real families and understand what makes them buy and use Brand A rather than Brand B.
A media agency will also research how the target group consumes and uses media, both traditional and social media.
The media agency will then work closely with the client and the brand’s other agencies, if appropriate, to develop an idea and a media plan that media buyers and/or content creators can then implement.
Challenges for media agencies?
Digital is hard to sell
Salespeople find it increasingly difficult to get local businesses to buy in to their offering.
Cost of sales is too high
Traditional selling methods don’t scale for digital dimes; time and resources are wasted on cold leads that aren’t ready to buy.
Digital gross margin is too low
Digital solutions come with high fixed and variable costs that create slim margins and low ROI.
Sales reps are hard to track and manage
Measuring your sales team’s true productivity and performance is difficult, if not impossible.
Marketing ROI is hard to measure
You crave comprehensive marketing analytics that measure your campaigns’ true ROI.
Lack of reporting
Clients demand complete transparency of their digital solutions with comprehensive performance reports.
Losing customer segments to low cost digital providers
It’s difficult to compete against new players who offer solutions that undercut you on pricing.
High client churn
Retaining customers is a challenge due to a variety of reasons, from pricing to support to competition.
Digital solutions are priced too high
Quality digital solutions are out of your clients’ monthly marketing spend.
Clients have varying needs
One digital package does not fit all; your current service model doesn’t accommodate for clients with various needs.
Resources and services don’t scale to accommodate a growing client base.
Onboarding takes too much time
Large efforts are involved in implementing a new tool, not to mention training for all clients.
Multiple tools and vendors are hard to manage
Working with multiple solutions creates vendor clutter, disparity between tools and ongoing IT issues.
Integrating digital solutions is difficult
Too much time and effort is involved in integrating new solutions with existing ones.