Myer appoints Ikon to media account
Myer has appointed Ikon Communications to handle the retailer’s media planning and buying business estimated to be worth over $55m.
The contract, which will last for three years, ends Myer’s six year partnership with Universal McCann.
Ikon will commence working with the retailer from January 1 and the agency will be responsible for the management of all the latter’s media buying operations including bookings, planning and strategy recommendations.
The agency pitched for the business against Mediacom, Starcom, OMD and the incumbent.
Tim Burrowes founded Mumbrella in 2008. He worked on Mumbrella until 2021. At various points he was editor, content director and editor-at-large.
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Well done gents. How do Ikon manage to beat GroupM’s rates??
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@jack w
Who say’s it came down to a battle over rates?
Perhaps the marketing team from Myer assessed the pitch based on strategy/technology/insight/understanding of business needs moving forwards or anyone of the hundreds of other pieces that can add to the true value of a clients relationship with their media agency.
Assessing media based purely on rates is an outdated method that has very little relevance in determining the true potential for ROI.
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Who said their rates were the cheapest?
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This could be some indication: http://twitpic.com/rrfi8 – $59m Myer loss for UM (as reported in B&T) becomes a $54m win for Ikon (via AdNews). What’s $4million between friends?
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congrats to the ikon team
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@Simon
From AdNews today – “Myer had a main media spend of $58.7 million in the 12 months months to October 2009, up on $53.9 million in the previous corresponding period, according to Nielsen. Stapleton said this figure had been inflated due to Myer’s advertising its IPO this year.”
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Ad-ex figures are always inflated; work on 15% to be conservative, but in the case of such a massive advertiser, probably more.
With regard to rate positions, cost is & always will be an important factor, but it’s just one of a number of key criteria. In the case of Myer, they usually negotiate their own position with the networks independent of the cartels so a Group M v Ikon rate comparison wouldn’t happen.
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Such wise words Nigel
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A little less wise perhaps – new Ikon MD Ben Willee is a good looking fella & bit of a stud. I wonder whether the females at Myer were charmed by this self professed nudist?
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Nigel you gotta do what you gotta do i guess.
Even if that means sharing an office with the client! 3 floor…. ladies hosiery.
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