(PRWEB) January 17, 2005
The myths surrounding the mysterious process of negotiating television and radio media buys are astounding, and rarely ever covered by the press or even in books about advertising media. But because negotiating the buy gets to the heart of whether the advertiser is getting its moneyÂs worth, we interviewed an actual expert, Ron Geskey, CEO of 2020:Marketing Communications LLC, which publishes the very successful Thumbnail Media Planner and AdMediaStore,com. Geskey is also a former media director in several of the largest U.S. advertising agencies.
Q:: Advertisers spend nearly $100 billion on television and radio ad buys. Are advertisers getting their moneyÂs worth-- full value-- in these buys?
A: I think some probably are, most are not.
Q: Why not?
A: For a lot of reasons. First, advertising media planners and buyers are trained to buy ratings rather than communication. Consequently, they are focused on meaningless cost efficiencies rather than cost effectiveness and ROI. To make matters worse, in most cases, the buys arenÂt even negotiated to reach the real target audience. Unfortunately, few buyers even know the process for maximizing either cost efficiencies or cost effectiveness because they have not been trained to do so, and the buying function is usually understaffed. And, of course, a paradigm shift in agencies on how to best buy television and radio would require them to delicately re-educate their clients.
Q: What are some of the myths surrounding media buying that you have referred to?
A: The myths IÂm referring to are the vague things agencies tell prospective clients in their new business pitches about why they can get the client more for their money. Usually statements describing some mysterious process of how a really Âtough negotiatorÂ without a big budget gets more because he/she is REALLY tough, or personally knows the stationsÂ sales managers (who, of course, also know the buyers with the big budgets).
Q: What is the financial impact of ineffective buying practices and myths on advertisers?
A: Let me answer that this way: 10% waste on a $100 billion broadcast investment is $10 billion-- which could have been additional shareholder profitÂor $10 billion used to generate more business. The same principles apply to one advertiser who spends $1 million or even $50,000 in broadcast advertising. Plus, I think the waste from misguided buying practices is way higher than 10%.
Q: Why did you write ÂHow to Really Buy TV: the 12 Immutable LawsÂ in presentation form?
A. Because whatÂs needed is training. ÂThe 12 Immutable Laws of Effective Spot TV BuyingÂ is a turnkey 100 slide (PPT), 3-4 hour Âpresentation in a boxÂ covering the key buying considerations, research, and each of the 12 Immutable Laws. It presents a Ânew modelÂ for buying TV which will deliver more communication (maybe fewer TRPS). The presentation was done so that an agency, advertiser-- or a mediumÂcould use it for internal and client training.
About 2020:Marketing Communications LLC
2020 is a marketing and media consulting and publishing company. 2020 publishes the highly successful Thumbnail Media Planner and AdMediaStore.com. Geskey has also been a senior media and account management executive at Leo Burnett, DÂArcy, and Campbell Ewald.
To purchase ÂHow to Really Buy Spot TV: the 12 Immutable Laws of Effective Spot TV Buying,Â visit http://www.admediastore.com. You can contact Ron Geskey to discuss this article or a consulting engagement via email or by phone.
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