What’s required from an agency?
The scope of works or scope of services – evolves over time. Often this is due to circumstance, to market or commercial developments. The commercial agreement you hold with your agency often requires review to ensure that it remains competitive and sustainable.
Using 20+ years of experience, with financial consultants specializing in agency agreements, we offer a range of marketing services that deliver you confidence in your commercial arrangement with your agency, along with clear improvement recommendations where necessary, for use in negotiation.
Agency fee benchmarking
We conduct in-depth reviews of current agency remuneration and resourcing, using proprietary industry fee benchmarking data across hundreds of data-points, to identify challenges or opportunities. Everything from major resourcing to incidental unit cost items are covered. And we can negotiate on your behalf with your agency.
Scope of work modelling
Often in an agency agreement, the fee arrangement does not keep up with the changing nature of your required scope. This can lead to cost blow-outs from agencies charging higher ‘out of scope’ fees; or, reduction in agency resourcing due to financial unsustainability. Using your inputs, we develop a bespoke agency scope of works or scope of services that can be used in pitching or development of a new remuneration model.
Agency fee modelling
There are many potential remuneration models; retained, project based, hybrid, performance based. We assess your current model and situation and build a bespoke model for you, capable of significantly improving value. And we can negotiate on your behalf with your agency.
As the industry changes, your agency contract needs to evolve, for your own protection and that of your agency. We assess your current document and advise your legal team on recommended amendments, clause inclusions or removal.
In housing of agency services is becoming more common, but often, it’s difficult to know where to start. We provide assessment of what’s possible for you and advice on how to plan and execute a move to in-housed services.
Customer satisfaction is the goal with every project. Below are just some of the things clients have had to say about working with TrinityP3. Click here to read more Client Testimonials. And because positive client and agency relationships are integral to what we do, make sure you also read our Agency Testimonials.
In our unique role of identifying and solving the big challenges facing marketing management we create a huge catalogue of insights and build our knowledge and wisdom, which we share with the industry.
Helping a Financial Service Advertiser and their Media Agency work together more efficiently and effectively
Our data has been built and refined over twenty years. Our benchmarks are calibrated to you - there are a range of benchmarks based on the scope and complexity of your account, and we use assessment tools to determine this. Once the benchmark level is calibrated, we provide hundreds of data-points in our report to you, covering fees and composition of fees, resourcing and composition of resourcing, increnental cost rate-cards, out of scope rate-cards, overhead recovery and mark-up levels, third party production, and more. Using a simple traffic light approach we can decode the complexity, and show you exactly where you should be paying less, more or in a different way for the various services provided by your agency. We often find when conducting operational assessments, that service level deficits or capability issues identified in qualitative assessment can often be traced right back to the quantitative financial evaluation.
Yes, we can. We can advise on, build or work with numerous remuneration structures, including incentive and performance based.
We use detailed proprietary spreadsheets for agencies to complete, against which we base our evaluation and which can be transferred into your final agreements. We also provide contractual advice regarding agency transparency.
We consider a variety of factors including current and future needstates, feasibility and fit of capabilities, financial and resourcing impact and operational impact. Ultimately, a scope needs to come from you; but we are here to help with templates, advice and commercial recalibration to ensure best fit.
We make recommendations specifically related to agency responsibilities, transparency, clarity, governance, operations, financial process and service inclusions.
The respective pros and cons of any model are entirely dependent on your individual circumstance. This is one of many reasons why every project we conduct is tailored. We will advise you on best options and pros and cons of each once we have fully understood your position, and thoroughly assessed it.