The Financial Times consolidates global media planning and buying in Essence
The Financial Times has today revealed it will be appointing media agency, Essence to be its sole agency for all media planning, buying and strategy. The move aims to focus on a single customer view to improve the end-to-end consumer experience and extend the customer lifetime value of Financial Times readers. The Financial Times selected Essence after a closed pitch, having begun reviews of its agency partners in 2021. It was looking for an agency partner that could build an integrated planning and measurement approach founded in data, to continue to grow and retain its user base and revenue.
“We’re building The Financial Times’ brands for longevity - measuring success in lifetime value and retention rather than short term gains. That means we’re constantly evaluating our setup to ensure we keep our one million plus customers satisfied,” said Fiona Spooner, Managing Director of Consumer Revenue at The Financial Times. “Having partnered with Essence for more than nine years, we know they not only understand our current readership but also our future customers, and will continue to help grow our brand portfolio well into the future.”
Essence and The Financial Times have worked together since 2013, covering several projects including The Financial Times’ brand refresh in 2015, with remits spanning from media planning and buying to creative, econometrics and data strategy consultancy.
Ryan Storrar, CEO of Essence EMEA said: “We’re proud of the strong relationship and work our businesses have built together over the years and are excited to accelerate customer value advancement for the FT through innovative data-led practices in our expanded remit.
Anna Berry, Managing Director, UK at Essence added: “We’re thrilled to expand our relationship further with the Financial Times and continue to help them with their digital transformation, creating more influential campaigns and audience centric products that will expand the FT’s relationship with its consumers.”