Advertising company Dentsu X clinches business deal with Santander in the United States
Banco Santander Consolidates Media Buying with Dentsu International and Carat
In a significant move, Spanish banking giant Banco Santander has announced a global media buying consolidation with Dentsu International. This decision, aimed at streamlining procurement and leveraging Dentsu's global network, will see the bank working with Dentsu X in the U.S. and Poland, and Carat in other markets.
The international agency review, which involved multiple markets, was carried out with the intention of finding a single agency partner for all markets. Following a competitive pitch, Dentsu X U.S. was chosen as the media Agency of Record (AOR) for Santander in the U.S. market.
Leah Meranus, chief media officer of Dentsu X U.S., expressed her excitement about the opportunity, stating, "Being chosen as Santander's U.S. media AOR is an amazing opportunity."
Dentsu International will bring its data analysis, planning tools, and measurement ecosystem to Banco Santander's media efforts. The consolidation typically involves centralizing media buying under Dentsu to unify strategy, gain scale advantages, and optimize costs.
However, specific details such as the scope, contract length, financial terms, or operational changes have not been uncovered in the provided search results. For the most up-to-date and detailed information about this deal, it is recommended to consult recent press releases from Banco Santander or Dentsu International, or industry trade publications like Adweek or Campaign.
It is worth noting that the international agency review did not mention any changes in the media AOR for Santander in Spain, Portugal, and the U.K., or in Poland. The decision to work with Carat in these markets suggests a regional approach to the consolidation.
In conclusion, Banco Santander has made a change in its media buying strategy, consolidating it under Dentsu International and Carat. This move is expected to bring efficiency and cost savings to the bank's media efforts, as well as leverage the global reach and expertise of Dentsu International.
- The consolidation of Banco Santander's media buying under Dentsu International and Carat will involve the application of Dentsu's data analysis skills and finance-focused media planning tools to optimize the bank's investments.
- The business strategy of Banco Santander, as seen in their media buying consolidation with Dentsu International, is aimed at reducing costs, improving efficiency, and expanding their global reach by leveraging international expertise.
