Digiday Research: Talent is primary hurdle for bringing media buying in-house
Nearly one-in-four companies are bringing some media-buying functions in-house, believing that it will lead to improved transparency and greater cost efficiencies. But those companies face one major challenge: hiring the right people to actually do it.
Seventy-three percent of client-side marketers said hiring the necessary talent was a significant obstacle to taking media buying in-house, according to a survey of 45 programmatic marketers at the May 2018 Digiday Programmatic Marketing Summit held in New Orleans.
There are several reasons why companies are struggle to attract talent from agencies. One is why media buyers would willingly restrict themselves to only working on one company “in a corporate and boring environment”, according to a report by ID Comms. Travel-booking site Kayak said it took them over a year to hire the right people for their internal media team.
Media buyers have other incentives to stay at agencies, too, including access to greater resources and a larger array of projects and campaigns to contribute to and learn from. Additionally, mid-size companies that lack the appeal of startups or the scale of major corporate brands could struggle to interest would-be employees.
In the Digiday survey, few marketers worried about obtaining buy-in from senior leadership. Just 15 percent of marketers said getting senior leaders was a challenge. That’s because developing internal media-buying often leads to cost-savings which bodes well with executives focused on P&L.
However, arguments over cost saving can be used against in-house media teams and stress the importance of leadership buy-in. One in-house media buyer at a CPG company told Digiday an agency won over its executives by claiming it could get lower rates for ad placements than its internal team could. According the the media buyer who spoke with Digiday, the agency claiming to save money would have had to reduce rates by 25 percent on the last 30 percent of the uncommitted ad spend to meet their projection. Ultimately the executives sided with the agency and shut down its internal team.
‘I’m worried about my job’: Confessions of a stressed out ACD on homeschooling his son and working from home
An associate creative director is stressed about overseeing his son's remote learning this fall while successfully meeting client needs.
‘No one is rushing to commit Q4 budgets’: With its future in the U.S. increasingly uncertain, media buyers are holding back spending on TikTok
The executive order signed late last week has now spurred advertisers who were considering testing the nascent platform to steer clear for the time being, especially since TikTok now has until September 20th to sell its U.S. operations or face the consequences of President Trump’s order.
Member Exclusive‘Like being conned’: Agency employees say that fake job listings are making the already difficult job market even harder
If you ask agency talent about the job search you’ll hear them bemoan alleged fake job postings as an industry scourge.
SponsoredSeeking revenue stability, publishers are assessing buy-side credit risks
As the industry navigates the continued impacts of COVID-19, here’s the questions publishers should ask their programmatic partners or ad management providers to protect themselves from clawbacks and lost revenue.
WTF is redirect tracking?
Redirect tracking offers an alternative to the third-party cookie, which is why web browsers are clamping down on it.
‘Let’s put it out in the world’: Why Code and Theory is creating its own thought leadership publication, Decode
The publication gives the agency a home for opinion and thought leadership pieces from its staffers, many of whom have been writing pieces for industry publications in recent years.