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.
As TrinityP3 continues to grow, so does the team of professionals within the company as well as the depth of experience and expertise. In this series I’d like to introduce some of the core team members and their expertise, before having them answer 3 questions on what they do:
- What are the challenges facing marketers today in their area of expertise?
- How does TrinityP3 assist marketers in this area?
- What advice would they give to any marketer facing these challenges?
In this post we direct these questions at TrinityP3 Business Director, Jodi Randall. When it comes to production, Jodi knows her way around both digital and television production. Not only has she extensive production industry experience, she also has post-graduate qualifications in digital and broadcast production from Charles Stuart University.
Production assessments and management has been a core service offered by TrinityP3 from day one and today it means we can offer our marketing and advertising clients a full range of services from aligning structure and process to marketing strategy, right through to the implementation and deployment of the outputs of that strategy.
Q1: What challenges are marketers facing managing production costs?
I think the biggest challenges for marketers when it comes to managing production costs are understanding the detail within agency and production house estimates. So bringing the opacity to transparency.
They need to be assured of the productions costs versus the production value in both head hour allocation and also the hourly rates. So what deliverables are the client receiving for the production spend?
One of the other challenges is actually leveraging TV assets for repurposing within digital channels even though we’re technically advanced in digital, from TrinityP3’s observations, above the line and digital creators should be working closer together and that’s regardless if the two channels are integrated within the same agency or within separate entities.
Q2: How is TrinityP3 able to assist reduce production costs?
Our team of TV consultants have over ten years experience as producers so we understand the components that make up both an agency and also production house estimates.
We assess all cost centres in detail against the proposed story boards and the director’s treatments. Assessing agency and production house estimates is really like breaking down a jigsaw and rebuilding the puzzle back together.
The value in what our assessments provide is not just monetary, additionally, the objective is for the advertiser to have confidence that their TV production spend is being utilised cost effectively within industry standards and also market rates.
Q3: What advice would you give marketers facing rising production costs?
The advice that I would give to an advertiser facing increasing production cost would be to firstly talk to TrinityP3. For a small investment, we can prepare a detailed assessment which will provide answers to a number of important factors.
Are they achieving industry best rates without compromising creative quality?
Are their TV production budgets compared to their media spend commercially viable and within industry ratios?
And, are they effectively leveraging all shot footage across TV and digital channels?
Video production by Phil Rich – 2 Feet Films