Managing Marketing: The changing economics of the advertising agency business

Michael Farmer, Chairman of Farmer & Company and the author of the industry best seller Madison Avenue Manslaughter talks with Darren on the changing economics of the advertising business and how the holding company structure and business model has become unsustainable in the face of these changes. So where too for agencies? Continue reading

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Content marketing assessment for a tourism and destination marketer – a case study

TrinityP3 was approached by a destination marketer to assess its approach to content marketing. The strategic goal was to significantly increase the value of tourism over the next four years and content marketing had been agreed as a key priority area within the marketing mix – growing both in volume and complexity. Therefore there was a need for a more structured approach to content marketing. Continue reading

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10 ways the CFO could help their CMO be more financially and commercially successful

Being a CFO for an agency has often made me wonder whether the same rules apply to running a successful growing business, as it would if I were a CFO on the client side. The qualifications are the same, the remit of growth and control are also the same, the principles of risk and reward, the same. Perhaps the largest difference is that as a CFO of an advertiser my focus is on the so-called directs of the business. The product itself, how it is manufactured, distributed and sold. Marketing as an indirect, might not be a core priority for me. Which is a shame, because as David Packard quite aptly observed, marketing is too important to be left to the marketing department. Continue reading

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Managing Marketing: The transformation of the client / agency ecosystem

Bruno Gralpois, co-founder and principal of Agency Mania Solutions, named after his book, Agency Mania, chats with Darren on the changing client / agency relationships and the rise of the consulting firms who are increasingly acquiring digital agencies to expend their range of marketing services. Continue reading

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Technology vendor selection for marketing and IT managers – who to trust?

Market Research firm, Vanson Bourne, and PR Group, Hotwire, have released “The Changing Face of Influence” Report. The Report is based on surveying 1000 decision makers to help make sense of the way marketing and IT departments engage with media sources when choosing external technology vendors – exploring their habits, preferred channels and the ways they make use of different sources of information to make purchasing decisions. Whilst most of the Report is pretty generic in terms of utilising social media as channels for vendor research and influence, there were two stats that stood out for me. Continue reading

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Three ways to pay for programmatic media but only one that delivers value

There is much written about programmatic media buying and the remuneration models being deployed. The K2 Report on Media Transparency and Rebates commissioned by the ANA, highlighted the two most popular models being the Disclosed and the Non-Disclosed models. But there is a third more effective remuneration model, which is the Performance Media model. Many marketers have told me that in most cases the adoption of programmatic media buying has been at their media agency insistence and therefore they often find themselves using the programmatic trading desk that is owned by the Holding Company that owns their media agency. Continue reading

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Managing Marketing: good agency contracts and good contractual practice

Douglas Wood, Partner at Reed Smith LLC explores with Darren the world of the client / agency contract and particularly what is best practice, how the internet is impacting on intellectual property rights, contracting with holding companies and the challenges of trying to develop a global or regional master servant agreement that is actually enforceable across multiple jurisdictions. Continue reading

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Birds of a feather flock together: tips for engaging a new agency partner

We have all heard the adage birds of a feather flock together, meaning that the company you keep reflects your personality. A smart person surrounds himself with other smart people. Unfortunately, as we go through this time , we realise the people we once counted on are no longer the people we once thought they were. Being guilty by association is another saying which extends the birds of a feather…concept but this time with negative overtones. The external observer will quickly associate your behaviours and thoughts with the people you hang out with. If your friends act in a negative way, you too will be bracketed unfavourably by association. Although this may not be true, it is all based on perception. Continue reading

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Do great client agency relationships deliver great performance?

“Great client / agency relationships deliver great performance”. You hear this said all the time by agencies, consultants and advertisers. It is like a mantra. But when there are millions and even billions of dollars at stake, is it a mantra that needs to be examined in more detail, rather than simply taking it at face value?Superficially it makes sense that in a business relationship that is influenced so heavily by the interaction between the stakeholders involved in developing strategies, concepts and executions, the better the relationship the better the performance and outcomes of those relationships. Continue reading

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Why adjusting an agency scope of work requires careful consideration

An advertiser recently called with an issue that had lead to a dispute with their agency. The advertiser had a 30% cut in their marketing budget due to falls in sales and they had tried to negotiate a significant cut in the agency retainer to reflect the cut in the budget and hopefully a corresponding cut in the scope of work (but more on that later). The agency had refused any cut in their retainer on the basis that they had recruited a number of resources specifically for the account and they maintained it would be unfair to cut the retainer as this would require the agency to terminate some of these resources as they could not be redeployed within the agency. Continue reading

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