The Stephen M Ross School of Business at the University of Michigan conducted a study in partnership with media agency, Harmelin Media.
Media agencies looking to position themselves as strategic and capable partners must be transparent. They must prioritise contract flexibility and leverage tools to improve speed and efficiency.
They must bring in talent that understands data, technology and the digital space. This must be supported by training and promotion. Further, ensure the agency, client and media vendors work in collaboration on strategic plans that aim to solve complex business problems.
Not only must contracts be flexible but they must also define in detail the true scope of an agency’s work. Overall, the contract must reflect the value an agency creates. Being able to continuously adapt with the changing digital landscape is a skill agencies must master.
[5 minute read]