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.
I love this quote that I have shamelessly paraphrased in the headline here. Red Adair was a larger-than-life character who built his reputation successfully putting out oil well fires. This is a highly dangerous and incredibly lucrative occupation.
Imagine an oil well producing thousands of barrels of oil, suddenly erupting into flames? It is literally millions of dollars going up in smoke.
Now I am not for a minute suggesting what we do as marketing management consultants is anywhere near as dramatic or a dangerous as Red Adair and his oil fire fighting business, but I think there are some key examples of where in marketing management an expensive professional provides more value than a low cost amateur.
Choosing a professional versus an amateur
The easiest thing in the world is for someone to become a marketing consultant. As Professor Mark Ritson recently questioned, why is it possible to be a marketing expert without any formal qualification?
To become a marketing-consultant is even easier. You simply hang up a shingle and hope that either your work experience or reputation is enough to get you consulting projects and build a business.
Because of the low barrier to entry, many people become marketing consultants because they are currently not working in a fulltime job and it is a convenient way to earn an income until you land that next fulltime gig. You can see this behaviour in the LinkedIn profiles of many marketers who have short bursts of consulting interspersed with fulltime marketing positions.
When I made the decision in 1999 to start TrinityP3 (or P3 as it was then) as a marketing management consultancy it was with the clear vision to build a consulting business that acted as an independent advisor to advertisers and marketers on the issues around agency selection, remuneration and performance and relationship management.
This was not simply a thing I did while waiting for another opportunity to turn up. It was a very deliberate decision to leave the agency world as a creative director and create a brand and professional consulting business. Continue reading “If you think it’s expensive to hire a professional marketing management consultant to do the job, wait until you hire an amateur”