Breaking Up is Hard to Do: How to Leave the Media Agency that Handles Your TV Advertising
Linear TV and connected television (CTV) advertising are powerful mediums that can help brands reach a wide audience and drive significant results. For many brands, linear and streaming TV advertising are a crucial component of their media mix. As such, it's important to have a media buying agency that understands the nuances of these mediums and can effectively execute campaigns.
However, there may come a time when a brand wants to leave their current media buying agency, despite the agency handling their TV and CTV advertising. This can be a difficult process, as the agency likely has established relationships and buying power with media companies that the brand may want to continue to leverage.
Reasons to Leave a Media Buying Agency
There are many reasons why a brand may want to leave a media buying agency, despite the agency handling their TV and CTV advertising. Some common reasons include poor performance, lack of transparency, or a change in the brand's business objectives. Additionally, the agency may not have the necessary resources or capabilities to deliver the results the brand is looking for, such as access to advanced analytics and optimization tools, or a deep understanding of the brand's target audience.
Another reason why a brand may want to leave the current agency is that they are not keeping up with the latest trends and technologies that are affecting the TV and CTV advertising space. With the emergence of new technologies such as programmatic buying, addressable TV, and data-driven targeting, brands need to ensure that their media buying agency is able to adapt and stay ahead of the curve.
Preparing for the Transition
Before leaving a media buying agency, it's important to prepare for the transition. This includes identifying a new agency or partner that can take over the brand's TV and CTV advertising, as well as developing a plan for how the transition will occur. The brand should also consider if they want to keep the same relationships with the media companies that their current agency has or if they want to look for new relationships.
It's also important to have open and honest communication with the current agency throughout the process. This will help ensure a smooth transition and minimize any disruption to the brand's TV and CTV advertising efforts. It's best to have a clear and detailed plan in place that outlines the steps to be taken, the timelines, and the responsibilities of each party involved.
Making the Switch
Once the brand has identified a new agency or partner and developed a plan for the transition, it's time to make the switch. This process typically involves transferring the brand's TV and CTV advertising budget and campaign details to the new agency, as well as any necessary legal agreements.
It's important to note that this process can take several weeks or even months to complete, depending on the complexity of the brand's TV and CTV advertising efforts and the readiness of the new agency. During this period, it's important to closely monitor the transition to ensure that everything is running smoothly and that there are no interruptions in the brand's TV and CTV advertising efforts.
Finally, it's important to continuously optimize the brand's TV and CTV advertising efforts, even after transitioning to a new agency. This includes regularly monitoring campaigns, identifying areas for improvement, and making adjustments as needed. By continuously optimizing the brand's TV and CTV advertising, the brand can ensure that their efforts are driving the desired results. This can include utilizing advanced analytics to track the performance of the campaigns and identifying areas for improvement. It also includes working with the new agency to test and optimize different targeting strategies, creative concepts, and media placements.
In addition, the brand should also stay abreast of the latest trends and technologies in the TV and CTV advertising space and consider incorporating them into their campaigns as appropriate. This can include exploring new options like programmatic buying, addressable TV, and data-driven targeting, which can help the brand reach their target audience more effectively and efficiently.
In summary, leaving a media buying agency that handles a brand's TV and CTV advertising can be a difficult process, but it may be necessary for various reasons. Brands should prepare for the transition by identifying a new agency or partner, developing a plan, and communicating openly with their current agency. The switch process can take time but brands should continuously optimize their TV and CTV advertising efforts to ensure they are driving the desired results and staying ahead of the curve.
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