Placing a financial value on a sustainable business

This post is by Chris Sewell, Business Director at TrinityP3. Chris has a wide ranging knowledge of all areas of the advertising and procurement world and specializes in helping companies understand the environmental impact of their marketing spend.

We are often asked to help quantify the benefits of embarking on a sustainable pathway.

While there are some clear measurables around energy reduction, the co-benefits are harder to put a dollar figure against.

Companies who trade in environmental goods and services already understand the importance of sustainability; as it is the life-blood of the businesses balance sheet.

For less enlightened businesses where sustainability is about corporate and reputational risk, the quest for tangible data to justify the short-term cost of the programme is not straight forward.

Green padlock signifying sustainability

Show me the ROI for a sustainability policy that works

Firstly we need to identify the non-transactional and co-benefits that flow from a committed sustainability programme.

A number of difficult to measure benefits are well laid out in a recent piece of research from The Imperial College London University – Centre for Environmental Policy. It is called Unlocking the Hidden Value of Carbon Offsetting.

I have summarised below what I believe are the relevant findings that can be applied to all businesses with or looking at a sustainability programme, regardless of whether they have a voluntary carbon offset policy in place.

The research involved companies that had a comprehensive internal carbon management strategy already in place. Many also had in-house sustainability or environmental departments.

As all respondents were actively participating in voluntary carbon offset programmes, the measurement and therefore the reduction of carbon had direct cost implications. The easiest to understand is ‘energy reduction’ which equates to direct cost savings in power bills.

What motivates business? – The not so quantitative reasons

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What clients want and how to give it before they ask

This post is by Toronto-based writer and brand marketer Katherine Gougeon, who explores ideas for building a valuable, long-term agency relationship.

What clients want

Remember the rom-com plotline where the hero stumbles across the diary of his perfect woman and uses the information to transform himself into her ideal man? I recently experienced the corporate version of this when my PR associates at Felicity assembled a panel of blue chip clients to talk candidly about what makes for a valuable long-term partnership.

Their advice?

Don’t bait and switch

Agencies that send their top people on the quest to reel in the account – then push it to underlings once the contract is signed – is an age-old client pain point. Right up there with ‘overpaying’ to get access to the person they thought they’d be working with in the first place. If that’s the way it’s going to be, tell it upfront and like it is – before the client finds out the hard way.

Plan for planning

When an agency gets involved with a client without understanding its planning process, resources run the risk of getting eaten up as quickly as fancy sandwiches at a lunch meeting. Sitting down with the client to map out planning-related protocol and expectations gets the relationship – and the accuracy of the budget – off on the right foot.

Be like a considerate spouse

A considerate spouse, as one panelist put it, brings home things you haven’t asked for but thinks you’d like. Because clients can get so busy ‘minding the store’, they many not be monitoring their landscape and target audience as closely they’d like. When an agency brings forward an opportunity or an insight-even if it isn’t in the current mandate or scope of work – it is appreciated. And even if the thought doesn’t fly, it counts.
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Defining best practice in agency search and selection

This post is by Stephan Argent, CEO of Argedia Group and a member of the Marketing FIRST Forum, the global consulting collective co-founded by TrinityP3

When it comes to defining best practice in agency search, I’m often asked to talk about what constitutes best practice in a particular area or why some aspects of best practice are important to the process.

While many marketers (and agencies) acknowledge and appreciate best practice methodologies, others are more reticent or provide reasons for not wanting to adhere to a best practice process or methodology.

Agency search image

To help distinguish between best practice, “perceived” best practice and just plain bad practice, I’ve categorised various types of practice I’ve come across as an agency search and management consultant over the past few years:

Best practice

Wikipedia describes best practice as “a method or technique that has consistently shown results superior to those achieved with other means, and that is used as a benchmark“. This is the standard I describe when using best practice in the context of an agency search, evaluation or benchmarking exercise.

Emerging practice

As the marketing, digital and media landscape continues to shift, best practice methodologies have to evolve to meet, understand and adapt to our business. For example, media pitches that now probe on programmatic buying transparency might be considered as an emerging practice today. These approaches are best termed “emerging best practice” because their efficacy is not yet benchmarked. Continue reading “Defining best practice in agency search and selection”

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Dual approach to improved agency roster performance – Case study

Client Category – Financial Services – Agency Roster Performance

Challenging Problem:

The client had launched a new campaign and felt that the agencies across the roster were under-performing, compromising the brand strategy and potentially the effectiveness of the associated campaign.

Two stream performance approach

Creative Solution:

TrinityP3 tendered against a number of competitors to provide a process to:

  1. Diagnose the issues
  2. Advise on improvements
  3. Assist with implementation
  4. Measure improvement

The major differentiator between TrinityP3’s proposal and the competitors was the two streamed approach to measure both qualitative and quantitative performance metrics in the diagnosis and the follow up.

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2 ways to increase digital marketing effectiveness and efficiency

This post is by Darren Woolley, Founder of TrinityP3With his background as analytical scientist and creative problem solver, Darren brings unique insights and learnings to the marketing process. He is considered a global thought leader on agency remuneration, search and selection and relationship optimisation.

Over the past ten years we have developed a number of approaches to assist our clients in measuring and managing their digital marketing needs. Just as digital technology is driving change through the market, our processes and approaches to this ever increasing spend evolved and developed to meet the needs of advertisers.

In the early days most of our digital engagements were to provide simple cost assessments, but very quickly this evolved into wanting to understand the requirements and processes for implementing their digital strategy. Plus there is an ever-increasing requirement to review and advise on the best way to integrate digital into their existing structure and processes.

Two_Paths_To_Digital_EffectivenessToday, reviewing these approaches, there are two clear directions companies can undertake a process to improve their digital implementation and integration into the organisation and in the process, improve their digital efficiency and effectiveness.

One commences with the assessment of a project and works up into reviewing structure, strategy and process. This is the bottom up approach as it means you start with the end of the process (the project) and you work up the process to the strategic requirement.

The other starts with the strategic requirement and works down through the structure, process and finally projects. This is the top down approach as you start at the other end, at the higher strategic requirements, aligning the development and delivery of the process to the ultimate output.

There are positives and negatives of both approaches. Here we explain each approach and how we apply this to our clients’ circumstances. The main point is to work out what is best for your situation.

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Search and selection to solve local issues for global advertisers – Case study

Client Category – Consumer Goods – Agency Search & Selection

Challenging Problem:

The Global Advertiser has a globally aligned advertising network in this regional market. However the global deal left the local agency short in retainer, which they appeared to be making up for in their production costs. But still the local marketing team suffered with poor service and under motivated staff.

Drovers dog strategy

Creative Solution:

The local marketing team wanted to replace the internationally aligned agency, but could not as the arrangement was locked in globally. Instead we were able to identify an opportunity we call the ‘Drover’s Dog’ strategy in which we appoint a local independent agency on a project basis to keep the old bullock on it’s toes with some competitive tension.

Process:

The local marketing team approached us to help them change agencies as they felt they were stuck with the globally aligned agency which they believed was locally under-servicing the account and over charging for production. They had tried for more than a year to address the issue, but it was due to the global remuneration deal that underpaid the local agency office retainer, which they were clearly making up by over estimating on the production.

Reviewing the global agreement, the scope of work for the agency was very specific in regards to the adaptation of global brand work by the agency, which represented less than 40% of the agency-spend. There were no limitations on appointing an agency to provide services outside of this scope.
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3 questions for multichannel marketing expert – Lydia Feely

This post is by Darren Woolley, Founder of TrinityP3With his background as analytical scientist and creative problem solver, Darren brings unique insights and learnings to the marketing process. He is considered a global thought leader on agency remuneration, search and selection and relationship optimisation.

As TrinityP3 continues to grow, so does the team of professionals within the company as does the depth of experience and expertise. Therefore I want to take this opportunity to introduce some of the core team members and their expertise, before having them answer three questions on what they do being:

  1. What are the challenges facing marketers today in their area of expertise?
  2. How does TrinityP3 assist marketers in this area?
  3. What advice would they give to any marketer facing these challenges?

Lydia Feely is not just a Business Director at TrinityP3, she is a marketer with experience managing major services brands including Orange, Suncorp, Telstra and Vodafone. Telecommunications and Financial Services are particularly demanding categories with a requirement to manage a multiple of channels for brand development, acquisition, customer management and retention.

Her strategic approach to these challenges, in these challenging brands and categories has provided Lydia with a deep understanding of the requirements to best align and manage multiple channels and agencies to deliver optimal outcomes and results. It is this expertise she shares here.

Q1. What are the biggest challenges when developing multichannel campaigns?

The biggest challenge facing marketers developing multichannel campaigns is managing the complexity.

So, making sure you’ve got the right structures and processes in place internally and also externally.  And that sounds really simple and everyone sets out to do that, but what happens over time, you’ve got internally, maybe restructures, you’ve got new leadership, new priorities, new targets.
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Posted in marketing process optimisation, media planning & buying, mobile marketing, print production, social media & digital marketing, strategic management, television & electronic production | Leave a comment

What can I do to make my content marketing more effective?

This post is by Darren Woolley, Founder of TrinityP3. With his background as analytical scientist and creative problem solver, Darren brings unique insights and learnings to the marketing process. He is considered a global thought leader on agency remuneration, search and selection and relationship optimisation.

This is the fifth and final post in the series based on the transcript from the video - How to overcome the challenges of content marketing - from the May 2014 seminar, How to be an Effective Content Marketer.

Featuring a number of brand marketers who have established successful content marketing processes, this panel will discuss the challenges associated with content marketing and share strategies to overcome them.

MC:

Featured panellists:

In the previous post the panel discussed whether to outsource their content marketing or do it in-house. They also shared their experiences on the best ways they have found to carry out their content marketing strategies.

Today, the panel wraps up the presentation by sharing insights with the audience into what they can do today to make their content marketing efforts more effective.

What’s the one thing marketers can do to make their content marketing more effective?

Ed: Okay so before we open this up to the audience for questions, and if you have any questions, do think of them in advance. What’s the one thing that marketers here can do tomorrow to make their content marketing more effective?

If you could choose one thing, what would be the advice that you would want this audience to take away from your learned wisdom and experience in this field? Skye?

Skye: I’d say if it’s possible and one thing that has helped our content marketing become more successful, is if you can put it in the hands of your employees, do it.

Whether it be contributing to your social media program or writing blog posts for you or even from our perspective we have a content distribution tool that allows our employees to post our content to LinkedIn and Twitter and it just amplifies the message and really gets the content out there so I’d say if you can get it just out of the marketing and PR department and get everyone in the organisation on board, that’s a great start.

Ed: Recruit brand champions internally.

Skye: Definitely.

Ed: Yep, okay. Anton?

Anton: I would challenge you all to go back to the CEO or Chairman or MD or owner of your business, ask for the business plan, we have to dust this thing off out of a cupboard somewhere and go and find out what your mission, vision and values are for your business.

So what is the direction that your business is moving in, and then start to develop a content marketing strategy or framework or an approach that maps to that business vision and plan because otherwise it’s just short-term tactical stuff and we’ve all seen stuff.

Work out a strategy for your brand first

Ed: So work out a strategy for your brand first of all.

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Financial Services – creative agency search and selection – Case study

Client Category – Financial Services – Agency Search and Selection

Challenging Problem:

The client had been using creative agencies on an ad hoc basis with no retainers in place.

Whilst this had worked satisfactorily to date, there was a desire for more of a partnership not only for added value and greater consistency but also for efficiency both from a time perspective, not having to brief a different agency for every project, and from a financial one, being able to talk to someone without the clock ticking and hourly fees being charged.

On the verge of a new phase of the brand’s evolution, the client wanted to find a culturally compatible strategic and creative partner to work with on a retained basis for the foreseeable future.

Agency selection

Creative Solution:

TrinityP3 conducted a full Search & Selection process in order to:

  1. Assess agency credentials and chemistry with the client
  2. Explore strategic capability and compatibility
  3. Benchmark financials and assist with negotiations

Whilst Creative Development was part of the process, the client was made aware it was only one stage of a 5-stage process and should not be used solely to determine a preferred partner.

Process:

The process began with TrinityP3’s Industry Search of the market based on the client brief.

From the report presented to the client, 7 agencies were shortlisted, only one of which was requested by the client. All agencies submitted written Credentials Documents and were invited to hold a Chemistry Meeting with the client at their offices.

Credentials and Chemistry Meetings were scored based on an agreed criteria with the client and from those scores, the commentary and further discussion, a final 3 agencies were asked to conduct a half day Strategy Workshop based on a Client Communications Brief.
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The importance of trust in productive marketer / agency relationships

This post is by Darren Woolley, Founder of TrinityP3. With his background as analytical scientist and creative problem solver, Darren brings unique insights and learnings to the marketing process. He is considered a global thought leader on agency remuneration, search and selection and relationship optimisation.

With all the reports coming out of the Cannes Lion Awards earlier this year, you would not be alone in thinking it was a Hollywood Film and Music Festival with appearances by Kanye WestSarah Jessica Parker, Jared Leto, Jeffery Kratzenberg, instead of an advertising festival of creativity. Though creativity does feed on a diversity of inputs.

But of all of the sessions I saw reported, there was one that I think was particularly insightful from a Marketing Management and Procurement perspective and that was The Naked Truth by RPA and USA Today.

Here is a teaser they provided on YouTube to get Cannes Festival attendees to come to the session. I think it is hugely insightful as a mirror on the industry.

The survey that they commissioned with more than 140 marketers and agencies provided some invaluable insights which you can find summarised in this fabulous infographic here.

The_Naked_Truth_Infographic

But the one question not answered is why is it so?
Continue reading “The importance of trust in productive marketer / agency relationships”

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Posted in agency remuneration / compensation, agency search & selection, agency solutions, Evalu8ing - Relationship Performance Monitoring, industry news & trends, marketing process optimisation, marketing procurement | Leave a comment