It was a full house in Shanghai as more than 30 client-side media leaders from the WFA network gathered in the L’Oreal offices for the WFA MEDIAFORUM on 7 July. Ranji David, Marketing Director Asia at WFA, shares some of the learnings.
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- Audience engagement, including touching on the scale and impact of ad fraud and viewability issues in the region;
- Driving greater media accountability in China and how brands might better measure, control and protect their digital media investment;
- ‘The Future of Media Agencies’ as part of a CEO panel moderated by David Porter – VP, Media (APAC), Unilever, with GroupM, OmnicomMediaGroup and Publicis representatives present around the table;
- How brands can take the lead to improve (a) media transparency and (b) media agency capabilities as part of the breakout sessions.
Peer-to-peer conversations during the breakout sessions provided insight into each of the topics discussed with participants clearly defining current challenges while simultaneously offering up working solutions.
5 take-outs on improving media agency capabilities:
#1 Brands must provide clear leadership when it comes to setting priorities, goals and rules of engagement
If building agency capabilities is critical for the purpose of driving media innovation, this needs to be clearly defined both for internal and external stakeholders with well-articulated measures of success.
#2 When it comes to capabilities, there will always be a knowledge gap – we just need to embrace the notion of constant, ongoing learning
The reality is that there will always be something new on the horizon that marketers – and their agencies – won’t fully master. But if brands are able to make the ongoing pursuit of knowledge a fundamental part of the process, that’s a step in the right direction to ensure that skills are continually upgraded.
#3 We don’t always know what we don’t know – when it comes to data, brands need to be relentless and resourceful in the pursuit of insights and intelligence
Think out of the box when it comes to identifying data and market intelligence solutions and providers to appreciate the breadth and depth of the information that is currently available to marketers and build a better understanding of the data points from which to distill the insights for your brand.
#4 Break the silos to unlock the best of your agency
Independently-functioning agency units are potential barriers that can sometimes prevent the best ideas and innovation from flowing into your business. To get the best of all that your agency partner has to offer, brands need to push for more inter-departmental dialogue and cross-functional collaboration within their agencies.
#5 The talent you have on your team can make or break the account
To improve, inspire and retain top talent, introduce clearly defined incentives that ensure the brightest stars are identified and rewarded. Performance-based compensation awarded to the agency means very little to the team working on the account, particularly if that doesn’t always translate to individual bonuses. To recognise individual efforts, have it clearly stated in the contract that performance-based bonuses should be specifically awarded to the individuals on the account and hold your agency to upholding this agreement.
The WFA MEDIAFORUM meets next in New York (27 October) and Madrid (17 November). For more information about the forum and upcoming meetings, please contact Matt Green, firstname.lastname@example.org.
To find out more about WFA’s activities in Asia, contact Ranji David, email@example.com.