In February, Myadbuyer.com launched an online media planning and buying tool in the hopes of eliminating costs accrued during the media planning and buying process. Available in 35 major markets, a would-be advertiser can log into Myadbuyer.com to search their database for local media resources, including; newspapers, magazines, TV, radio, out of home, online, and direct mail. On the opposite continuum, media representatives have the ability to sign up as well to become a local contact, enabling them to build leads. The MyAdbuyer platform is different than recent attempts by other online companies, such as Google, to offer these types of services (somewhat unsuccessfully) in that Myadbuyer does not exclude the local salesperson. The goal is for sales reps and advertisers to meet in an "open market" to implement media buys. It is Myadbuyer's claim that professional planners are available to offer prospective advertisers planning expertise based on demographics, type of media, product category, and a brief product synopsis. I signed up on Friday, and thus far have not received a response. (I will keep you posted.) However, I did peruse the vendors available in Chicago, and there were not many from which to choose. That being said, the platform is in its infancy, debuting on February 22, 2009 in Market Watch . What Myadbuyer does not address are their plans to navigate an increasingly complex media environment, or how they plan to provide built-in services that agencies provide, such as; demographics based on research, market pricing knowledge for negotiating rates, post-buy analysis reports, added-value opportunities, and add-ons (mentions, bonus spots, sponsorships) that stations provide to agencies for ongoing relationships with numerous clients. However, Myadbuyer.com does address one key factor: An extremely motivated sales force.
If you have any experience with Myadbuyer, on either side of the equation, please lend us your insight.