Mono Selects Recipients of “Free Media Dollars”
After being awarded $125,000 in free media for winning the “Small Agency of the Year” title from the American Association of Advertising Agencies, local ad shop Mono decided it would share the wealth by passing along its winnings to a new client in the form of a media campaign.
The company reversed the traditional request for proposals (RFP) model by accepting pitches from potential clients-and it has now selected the winners.
A company spokesperson told Twin Cities Business on Friday that the Minneapolis-based agency selected two winners through the RFP process: Virgin Unite, the nonprofit foundation of the United Kingdom-based Virgin Group, and Good, a multifaceted media platform and magazine headquartered in Los Angeles.
The terms of the RFP said that, “in exchange for the cost of production plus a standard agency fee, Mono will allocate $125,000 in [out of home] media to implement your new campaign in markets nationwide.”
Out of home media refers to advertising that consumers view outside of their homes-for example, on billboards or in transit stations or restaurants.
Mono told Twin Cities Business on Friday that the company added additional free media dollars to the pot, boosting the total giveaway to roughly $175,000. The partnership with the two free media recipients was described as a trial run that the company hopes will turn into a long-term relationship. The agency's work for Virgin Unite is expected to be released in November, while the Good campaign will likely run shortly after that.
The company didn't disclose details about the selection process or the resulting media campaigns, although at the time that it announced the RFP initiative, it said it was seeking “innovative corporations who are interested in using free media dollars while taking our creatives for a test drive with your brand.”
Mono is among Minnesota's 15 largest advertising agencies based on its net revenue, which totaled $7.2 million in 2010.