Regular agency reviews can optimise the relationship on both sides. There has been a radical shift in consumer priorities over the past two years – shaped by political, social and economic events. The knock-on impact on brands and marketers is huge, as they seek out new ways of connecting with their markets and creating innovative …
Agency Reviews: Optimising Marketing Procurement Read More »
Clean and relevant data can transform how marketing, procurement and finance manage marketing budgets, assess the value of expenditure and approach decision-making. Data has long been described as the black oil of a business, and with good reason. The constant flow of insight, information, behaviours, customer interactions, agency costs and so much more, can be …
Data: empowering Marketing Procurement efficiency Read More »
Rate cards, price bands and benchmarking. How do you find the right price for your ad agency engagements? So, how does an ad agency price their services? The answer is a bit like how long is a piece of string – as long as you need it to be. There are several elements to how …
High demand, low supply – are brands and agencies struggling to find the right staff in the ‘talent crunch’? Talent is the lifeblood of creativity. Fine minds delivering campaigns and ideas that are delivered seamlessly across markets and customers. However, today, the demand for talent is starting to outstrip supply. The talent crunch is affecting …
This is the question that every marketing and procurement professional would like answered to help them manage their budgets. What is included in my Advertising Agency Costs? Marketing, creative and advertising agencies all have their costs of running a business. The call for more transparency around this has never been greater, as economic uncertainty puts …
Marketing is an investment into the brand and its future. Before we discuss exactly why marketing is an investment for a brand rather than a cost, it’s worth unpacking the difference between the two. Commodities are a cost. Water, electricity, rent, professional fees, technology tools – essentially the items that no business can do without …
RightSpend connects marketing, procurement and finance to deliver improved ROI through better reporting and insights. Combined, procurement and marketing are key to adding value for companies. When sharing common goals, both are an essential element to ensuring the long-term and sustainable success of a brand and their campaigns. The complexities and challenges that have …
How can Marketing Procurement deliver improved ROI? Read More »
Marketing budgets are under pressure and feeling the burn. Inflation is making itself felt. There is little doubt that marketing teams are feeling the pressure of economic complexity and rising inflation. These factors directly influence budgets and planning, and how marketers approach their campaigns and strategies. According to a recent article in Ad Age, …
MarTech connects the digital dots to deliver improved efficiencies in procurement Martech, the term for the combination of marketing and technology, has undergone impressive evolutions over the past few years to meet the changing needs of marketing teams as they seek to keep up with a rapidly changing landscape. Agility and transformation have become key …
With the marketing and advertising budgets under pressure, Procurement are looking for new solutions to managing costs. Here’s your guide to Marketing Agency Costs. What are Marketing Agency Costs? Marketing agency costs is the money a business pays to outsource all or some of its marketing to a specialist agency. Some businesses will say it …
Benchmarking may be invaluable when it comes to cutting costs, but is it just for Marketing Budget Savings? No, it is actually just the tip of the value-added iceberg. Marketing Benchmarking has become a critical touchpoint for brands. After the World Federation of Advertisers launched Project Spring – an initiative focused on transforming some of …
Benchmarking: is it just for Marketing Budget Savings? Read More »
Benchmarking marketing spend can put your business ahead of the competition. “Benchmark a: something that serves as a standard by which others may be measured or judged b: a point of reference from which measurements may be made” – Merriam-Webster Benchmarking has become invaluable to brands over the past few years, offering a smart …
Does Benchmarking give you a competitive advantage? Read More »
Leverage data to ensure that your marketing agency is not complacent and that your budget is being maximised and managed properly Data has become a critical component in ensuring that brand-agency relationships and collaboration are managed transparently and that budgets are being maximised and managed in line with everybody’s expectations. When every part of …
Leverage data to get your marketing agency working harder & smarter for you Read More »
Clarity is crucial at all stages of a brand-agency relationship. It allows both parties to be on the same page, to know exactly what to expect within a project and it gives you the confidence to have more productive negotiations, and ultimately receive better work. Clarity in the scope of works Being clear in your …
Clarity is Key in Marketing Agency Relationships Read More »
The Right Data For the Right Decisions. Using the Right Technology. Our client, DANA SMALL – otherwise known as Ms Category Management saved $5M in advertising spend across her multi-year implementation of RightSpend as an Advertising Agency Management tool. In her words, ‘”RightSpend revolutionised the services procurement marketplace”. Here we share an edited extract of …
When stakes are high, emotions can run high. Agency negotiations can often challenge the stamina of both parties and ultimately test who can keep their cool. Emotion, although natural, can ruin negotiations, and damage agency-brand relationships in the long run. Not only does emotion detract from the main purpose of the discussion, but it also …
Taking the Emotion Out of Marketing Agency Negotiation Read More »
The power of transparency in marketing agency relationships should not be underestimated It’s especially important when working closely with agency partners. As a marketer, you are investing and trusting an external party with your brand: something that needs to be constantly monitored and reviewed. Agencies need to have open lines of communication, and have regular …
The key task when working with an in-house agency is working out your ‘why’. There are an array of reasons why brands may use in-house agencies (IHA), and cost is often not the sole consideration.
A price that combines the commitment of retainers with the flexibility of project-based work.
Seeking reactionary solutions in an uncertain world, the requirement for marketers to do more for less has become increasingly important.
When it comes to agency rate cards and benchmarking, an old adage comes to mind: always compare apples with apples. It sounds simple, until some know-it-all points out that there are 7,500 varieties of apple in the world! So, there are layers of complexity even within this simple matter of choice. The same is certainly true …
It’s a pretty big understatement to say, it’s been some year, so far. We didn’t expect and couldn’t have planned for the past six months and no doubt further change and challenges lie ahead. So now we’re in the second half of 2020, what advice can we offer to marketing procurement professionals in brands, to …
In the heyday of the Advertising Agency, Mad Men, Don Draper may’ve been an enigma but the creative campaign was simple and so were his billing structures. Now, it’s anything but. More channels, more content, more opportunities, equals more complex advertising agency costs. Transpires, it’s not just the glamorous allure of 60s Madison Avenue we’re …
The photography landscape is evolving. There are more types of imagery a photographer can create today than at any other time in history. The future looks like it will contain more creative opportunities for image makers. However, there are more photographers than ever who can do the everyday work which is now having an effect …
Can a more defined Production Structure Help Agencies Succeed? The idea that there is a broken agency model is something that’s been kicking around the advertising world for a while now, with few concrete ideas to suggest what might replace it – until recently. The Association of National Advertisers’ conference in 2018, PepsiCo president Brad …
