Do you suspect a disconnect between your sellers and your prospective customers? If so, your suspicions will likely be confirmed in a new study from Kantar Media SRDS and the James G. Elliott Co.
For the past three years, Kantar and Elliott have jointly conducted the Study of Media Planning and Buying. These studies provided insight into the high-pressure, fast-moving world of media buying, and were the basis of articles in min, Folio:, and other trade publications, as well as coverage in blogs and social media.
In 2016, we wanted to know how media sellers viewed the same process, so we added a Sellers’ study. What a contrast!
Highlights of Study of Media Planning and Buying (Buyers) include:
They’re busy: On average, respondents work on four clients and six brands.
They’re structured: Over half always use RFPs.
They’re rushed: Of those who use RFPs, 93 percent typically allow 10 days or less for completion.
They expect big discounts: On average, 28 percent off rate card.
They don’t give second chances: Only 13 percent of respondents always or often give excluded or denied media a chance to change their proposal.
Click here for a free download of the updated “Publisher’s Guide to Understanding Today’s Media Buyers,” an overview from the planner/buyer perspective.
In the near future, we will also release the “Publisher’s Guide to Understanding Today’s Media Sellers.” You’ll see some stark differences:
Meetings: Many sellers think they are extremely important. Very few buyers agree.
RFPs: 78 percent of buyers using RFPs say they are Extremely or Very Important compared to only 42 percent of sellers.
Turnaround: 42 percent of planners/buyers say they need a proposal in one to five days, compared to 75 percent of sellers who say they are only allowed one to five days.
And much more.
Steve Davis, President of Kantar Media SRDS, and Jim Elliott, President of the James G. Elliott Co., have delivered customized presentations about previous studies to B2B, Consumer and Association trade groups. If you would like to schedule them to address your group about the new Study, please contact:
James G. Elliott Co., Inc.