How important is it to define the scope of work with your client? Do you try to use the agreed scope of work to focus your agency team and the client on the task at hand? Do you allocate agency resources based on the agreed scope of work? Is your agency’s remuneration linked to your agreed scope of work and therefore the value you deliver? Defining, monitoring, reporting and managing your scope of work should be the easiest and fastest way to deliver greater performance and value to your business. Is this the case for your agency?
An agreed Scope of Work is essential for being able to calculate and reconcile the value your agency delivers to the client’s performance. We work with you to develop ways to refine and manage a Scope of Work to deliver maximum value to your client from your agency. No matter if you are delivering campaign based, always on or have an agile marketing approach, we can help you structure the right Scope of Work to ensure your are being paid appropriately for effort.
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OPPORTUNITY
An agreed Scope of Work defines the specific outputs that your agency is expected to produce to deliver the client’s marketing plan and strategy. These outputs can be both tangible, such as advertising materials, and intangible, like plans, ideas and concepts. The role of the Scope of Work is often overlooked and yet it is essential for being able to monitor and assess the agency value, productivity and performance. Importantly it is the foundation for how you make a profit. A Scope of Work should be both projected forward based on the needs of the marketing or communication plan, and captured and monitored along the way. It is the basis for defining the outputs of the advertiser / agency relationship and can be used empirically to determine fair and sustainable agency remuneration, relationship financial value and it forms an invaluable basis to measure the productivity and performance of the relationship.
OPTIONS
We use Scope of Work management to achieve a number of outcomes including:
- Independently calculate the value of the current agency remuneration model against the Scope of Work to enable the agency to negotiate a more effective and sustainable remuneration model
- Calculating the agency resource level and mix required to deliver the proposed Scope of Work to determine the productivity and performance of the current arrangement i.e. is it profitable?
- Using the Scope of Work to independently monitor client workflow & volumes to ensure optimal value is being delivered at the required margin.
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METHODOLOGY
Usually the first step is to develop and agree a detailed Scope of Work either projected forward from the Marketing or Comms Plan or captured from historical data from within your agency. From the Scope of Work we are able to then use our Scope Monitor and Calculator to calculate the agency resources required to deliver the scope. A comparison between the calculated and actual is indicative of productivity efficiency. By applying the relevant agency cost to this resource plan we can calculate a fair and sustainable agency remuneration model to ensure you are running a profitable piece of business.
NEXT STEPS
Contact us here to arrange an initial conversation about how much this solution could change your business for the better. We’d love to help.
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FURTHER READING
Read more on Scope of Work Management for Agencies here
Hear more on Scope of Work Management from a TrinityP3 expert.