It’s increasingly common for brands to feel disconnected with their media agency. Lackluster strategy and performance has pushed some CMOs to bring media management in-house. But the law of unintended consequences often rears its head, slowly yet pervasively.
Before in-housing media, ask yourself what problems are you trying to solve.
Do you suspect your agency team isn’t stocked with superstars? If so, demand substitutions or find another agency that will deliver.
Do you believe you are being overcharged? Have a discussion with the senior leadership of your agency. You have the right to transparency and to explore new contract terms.
But if you’re at your wit’s end and you simply want to replace your agency with an in-house team, here are four significant factors to keep in mind:
1. Recruiting and Retaining Talent
2. Lack of Specialization
3. Tools and Mastering Them
4. Tunnel Vision
With so much invested in your media budget, you will almost certainly compromise growth to save on some overhead. It’s pennywise and pound foolish for most. Very few in-house media teams have the firepower to deliver best-in-class media programs. An in-house team that saves thousands in overhead might miss out on millions in revenue opportunity.
Building an internal media agency inside your company is an all-consuming, multi-year initiative. It’s probably not the best place to focus your talents as well as the talents of your marketing team. It’s quite enough to be the masters of your customer analytics, brands, product road maps, promotions, financials and internal communications.
Do you really want to take a crack at being David Ogilvy, too?