How important is independence in Media Pitch & Audit?
During a recent news article reported that the largest 4A Advertising Agency Group in the world announced it would stop participating in any media pitches supervised by a world-renowned consulting firm on the grounds of conflict of interest. The group believes that the consultancy firm might be using the price information and other intelligence gathered during the pitch process to facilitate the media agency or other interested parties to win, as the firm has its own media agency arm. In addition to the aforementioned, the consultancy firm also provides media auditing services.
As this news broke out, an increasing number of advertisers began to ask themselves: "Is my pitch consultant really looking out for my best interest?" and the thought of independent starts to creep into the minds of many advertisers.
The fact of the matter is, media pitch consulting or media auditing would lose its independence if it has the dual roles. Just like a football game where you serve as both the "player" and the "referee". Non-independent pitch consultants and media audits will threaten the fairness of the competitions amongst media agents and put the interests of advertisers at risk.
Evidently, the market has started to realize the importance of independence in media pitch consultants and media auditors. As any third parties service provider should offer fair and objective services as their number on priority. Without the independence, credibility and necessity of services offered would be in great jeopardy.
As we conclude, as a fair and independent third party consultancy firm, Deloitte provides media and advertising assurance services with the highest integrity and independence in mind. We incorporate advanced digital solutions and transformational processes to our clients to deliver authenticity, effectiveness and compliance results.
Factors including Sino-US trade war, Brexit to continue to loom over Hong Kong's position in global IPO ranking in 2019
SSE STAR Market to boost Shanghai's role as a financial center