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Hiring a Media Buyer
On any given day, a chief marketing officer at a leading national law firm can receive between five to 10 unsolicited calls from advertising salespeople. On any given day, these salespeople want you to return these calls, conduct introductory meetings, or have lunch to review a media kit and potential pricing. Perhaps this averages out to a daily time commitment of an hour? 30 minutes? Add to that the conversations with partners who really want their deal featured in a tombstone ad. Or who want to have their 'best of' designation featured in an expanded directory listing in a just-launched magazine covering their legal specialty. Multiply this time by 5 days in the work week, then monthly, annually. You get the picture.
Even if the meeting and discussion time is well-spent, each publication's objective readership data, brand 'fit' assessment, and a bottom-line assessment of cost relative to 'value' and operational reliability will be extremely difficult to independently ascertain ' even before contemplating the often-byzantine set of steps needed to actually hammer out and manage an ongoing placement contract.
Imagine, instead, fielding those calls and referring them to a professional whose full-time job involves learning your audience requirements and branding strategy, finding research or personally conducting ongoing market and competitor analysis, providing you with data-rich 'Point-of-View' (POV) assessments on how the possible media buys fit into your firm's priorities (see sidebar on POVs, below) ' maintaining arm's-length but informed relationships with the myriad publications you might consider, but recommending only those publications that meet a sophisticated test of audience reach vs. cost. This professional then negotiates advantageous terms and specifics, such as date and page placement, and executes the details of the media plan, day-in and day-out. And who keeps the payments and discounts straight and sends you frequent updates for budget-tracking purposes.
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