The Challenging Problem
A leading lifestyle and furniture retailer wanted to use statistical modeling to better measure its Return on Media Investment (ROMI). The client had already initiated preliminary conversations with a small number of potential providers. However, the business recognized the need for independent, objective consultancy and subject-matter expertise to ensure it secured the optimal partner. The critical requirement was that the model’s output be rooted in paid media, and that implementing the model have no bearing on their incumbent media agency.
The Creative Solution
TrinityP3 designed a structured, end-to-end tender process to evaluate the MMM market. The objective was to provide objective consultancy and create an evaluation framework that allowed the client to confidently compare capability, technical approaches, and cost proposals among competing suppliers on a strictly ‘like-for-like’ basis.
The Process
TrinityP3 guided the client through a rigorous four-step methodology:
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Discovery and Current State Understanding: TrinityP3 ran a workshop with the client to assess their current state. This covered their media scope, channel plans, media planning methodologies, current measurement methods, data state, anticipated technical challenges, and the available budget for the project.
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Development of Tender Brief to Market: Using the discovery outputs, TrinityP3 developed a comprehensive market brief for up to four competing suppliers, which included the providers the client had initially contacted. This brief required suppliers to submit fee proposals on a ‘like-for-like’ basis to enable an appropriate comparison on receipt of submissions.
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Facilitation and Assessment: TrinityP3 provided a multi-faceted evaluation framework to objectively assess supplier responses to the brief. The consultants facilitated supplier briefing sessions, Q&A sessions, and response presentations, subsequently collating the panel assessments into a formal report.
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Decisioning Meeting: Using the assessment report as a base, TrinityP3 facilitated a group discussion to enable optimal decision-making regarding the chosen supplier and create a clear assessment paper trail.
Timeline
The project began in late July and concluded with the final assessment and decisioning in mid-September, an efficient eight-week end-to-end process.
Result and Feedback
The client successfully secured an optimal MMM partner equipped to measure their paid media ROMI. The highly structured, transparent tender process gave the client full confidence in their investment decision. This highly technical selection process delivered strong client satisfaction; the client was impressed and approached TrinityP3 the following year to manage their Media Agency pitch.
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