Global consultancy Forrester has completed its latest Wave assessment of the world’s top global media agencies.
The evaluation using 29 criteria identified the 10 most significant: Carat, Havas Media Group, MediaCom, Mindshare, OMD, PHD, Starcom, UM, Wavemaker, and Zenith.
To get into the top ten an agency had to have two of the following: global billings of more than $US10 billion; a global footprint in six of seven regions; a global headcount of more than 6,000 full-time employees.
Forrester analysts say CMOs and heads of media contend with increasingly elusive consumers who sometimes avoid ads and question advertising’s usefulness.
“Today’s suboptimal advertising experience isn’t helped by the advertising industry’s separation of media from creative, which has led to competing agency factions and disintegrated campaigns,” the analysts say in the second quarter Wave report.
“Adaptive CMOs require agency partners to harness data and creativity to better connect the medium, message, and moment.
“The combined idea and context produce a whole that’s greater than the sum of its parts. The media agency market is maturing into an integrated, content-rich, precision marketing offering.”
Forrester says CMOs and heads of media should look for media agencies that scale creative content with audience precision.
“The best-paid media executions activate creative content across pinpointed audiences, whether the aim is performance or upper funnel,” says the analysts.
“All global media agencies provide content development services. The best agencies leverage a precision approach to promoting and distributing content.”
Forrester gives the example of an agency which created a feature-length documentary for a client that chronicles the first hospital ward in the US dedicated to caring for AIDS patients.
The film was distributed via streaming platforms, and paid media campaigns targeted high-value audiences via performance tactics.
Forrester says CMOs should also look for agencies integrating marketing technology, media and creative execution.
“Media agencies provide marketers with expertise in audience and channel selection. Today, media agencies integrate solutions across the technology, content, and media landscape.
“The best global agencies offer brands holistic, integrated agency structures that seamlessly connect creative and channels.”
Forrester says CMOs and their agencies must navigate an ever-sprawling system of tools, platforms, and systems to effectively meet the shifting expectations of consumers.
“The extent of interdependence between global media agencies and the holding company’s centralized resources to manage execution isn’t lost on us," say the analysts.
“We anticipate a future in which Forrester evaluates holding company media groups. The best media agencies enhance their holding company’s tools and resources with a proprietary planning platform that maximises executional outputs.”
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