Lorenzo’s lesson on customer data and big data for business

About 12 years ago we bought our first office in South Melbourne and on the day we moved in I went downstairs to the café on the ground floor to get a coffee. It was a buzzing place and the guy behind the counter introduced himself as Lorenzo, the proprietor. He knew I had not been there before and I explained we had just moved into the second floor of the building. He took my order, a strong latte, and we continued talking with him asking about what type of business we had and why we moved intro the area. Continue reading

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Madison Avenue Makeover: How Can Advertisers use Agencies to Restore Growth and Profitability for their Lackluster Brands?

Who is suffering the most from Madison Avenue’s manslaughter? Agencies, who see declining fees and growing workloads, and have been downsizing to generate holding company margins — while slowly destroying their capabilities? Or advertisers, whose brands are languishing, putting CMO tenure at risk?
Relationships look like speed-dating matchups that end up as one-night stands with disappointing sex. Something needs to change. Madison Avenue needs a makeover. Advertisers need to kick-start their brands’ performance. Continue reading

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Managing Marketing: The incredibly complex choices facing marketers

Liam Walsh, Managing Director of Amobee talks with Darren on the increased choice facing marketers today with technology companies, management consultants and agencies all competing for the marketing budget and why marketers are increasingly challenged in making these choices in the face of increasing complexity. Continue reading

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The Importance of (good) stakeholder engagement in any marketing transformation project

Each year at TrinityP3 we work on many large strategic marketing projects. Ranging from marketing performance solutions to technology solutions to roster alignments, most of what we do will often involve a lot of people across quite complex organisation structures. Depending on the brief we will engage with CEOs, CMOs, CFOs CTO’s or procurement, as well as pretty much everyone in between. And at times it can, quite rightly, feel like everyone in the business is invested in or involved with the brief we are answering. Continue reading

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Do You Really, Truly Want to Transform Your Agency?

Are you tired of being shoved around by clients?  Worried about your fees?  Missing your budgets?  Is your creativity undervalued?  Are your best people quitting for better jobs?  Do benchmarkers set your fees? Do you remember the good old days, when you trod the gilded C-Suite corridors?  When you were treated with respect?  When your work was award-winning and it really mattered?  When what you did made a difference?  Friend, you need a transformation.  A real transformation. Continue reading

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How TrinityP3 helps measure the performance of marketing – 3 case studies

After more than 15 years of downward pressure on marketing costs, the majority of traditional businesses are struggling to deliver growth and yet marketing provides one of the most successful drivers of business growth and performance when properly invested and measured against performance. The problem is that in many organisations marketing is treated as a cost of business with little or no focus on the return on that marketing investment. No wonder the strategy of cost cutting to profit has had such a major impact on marketing and subsequently the marketing agencies and suppliers. Continue reading

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Let’s Hear It for Madison Avenue’s Makeover!

Social media has turned us, I regret to say, into relentless, dour critics. In the advertising industry, every misstep is pounced on and amplified. Dove, Pepsi, McDonald’s and their agencies are pilloried for trying and failing. Misjudgments, mistakes and tone-deaf efforts are treated as capital crimes.  I’m as guilty as anyone, having written a long critique of ad agency management in my recent book, Madison Avenue Manslaughter, and in writing these weekly pieces. Whatever my (and our) good intentions might be, non-stop criticism is soul-destroying. It makes us tiresome and grumpy.  At a certain point in time, we need a shift of focus, from the negative to the positive — from Madison Avenue’s Manslaughter to Madison Avenue’s Makeover. Continue reading

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Why working / non-working ratios no longer work for advertising

As an industry we love our terms. Usually they are TLA (Three Letter Acronyms) like ATL, BTL and TTL. Or RFP, RFT and RFIs. And marketing technology digital buzz words are making this even crazier.

But there is a concept which has recently made a prominent return to the industry and yet it is totally outdated and no longer relevant. That is Working and Non-Working Spend. The reason for the sudden resurgence is a combination of management consultants who are pushing Zero Based Budgeting, not so much to drive marketing performance and return on investment, but more as a marketing investment framework to reduce the marketing investment and therefore budget.

The second source is the increased activity in investments in traditional consumer package goods brand companies by private equity and venture capital, and their use of the term to inform the market that they have magically discovered the investment strategy to turn the flagging performance of these entities around by simply reducing non-working spend and improving the working to non-working ratio.

In fact, as I write this, it seems so self-evident that you wonder why the schmucks that owned the business before it was bought by these clever investors had not done this already. Why wouldn’t you reduce non-working spend. After all, if it is non-working why are you spending anything on it anyway? Continue reading

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Managing Marketing: The essential role of business innovation beyond being a management fad

Dr Lee Styger, Director of the Executive MBA at Sydney Business School, University of Wollongong, discusses with Darren the importance of innovation in businesses, but innovation that is based on developing and delivering enhanced customer experiences, rather than being yet another management fad. Transcription:

Darren:

Welcome to Managing Marketing. Today I’m here with Lee Styger who is the Director of the Executive MBA at Sydney Business School, University of Wollongong and it’s a great opportunity because we’re going to be discussing a hot topic, which is innovation. Welcome, Lee.

Lee:

Thanks, Darren.

Darren:

Except that it’s not a hot topic, is it? Because everyone’s talking about it from the boardrooms down to the grassroots or the factory floor but there doesn’t seem to be a lot of innovation actually happening.

Lee:

What we discussed in the Green Room – we’re old enough to look at the history of management fads from business process re-engineering, total quality management, all of these things and about every 18 months a new one comes around and I think innovation is currently one of these perceived magic pills by leaders all around the place.

You say innovation; by what measure? How are you doing your innovation? What is innovation? What does it mean to you and your customer? What happens? You’ve got a department for it that ticks a box for it on the annual report.

Darren:

I think I measure fads by the number of consultants that are pushing the particular service because certainly my LinkedIn feed over the last three years has suddenly bloomed with people giving advice on how to become more innovative, which I think is an interesting promise because from my perspective innovation is at the very core of a business culture isn’t it, or not?

Lee:

It should be or not. Now, where do you go with this? It’s about core. I sat in a meeting recently when we were looking at a little bit of re-engineering of an organisation and the team brought in to do this were all describing themselves and their strengths. Not once did they mention customer.

So, we’re going to innovate our own strengths to create a super team with no connection to customer. If you’re going to innovate, if you’re going to change, if you’re going to do anything new, exciting, who are you going to do it for? And if it’s about business then it’s got to be customer.

Darren:

Absolutely.

Lee:

And good old Deming told us that all of those years ago and somewhere along the line we’ve lost it.

Darren:

We said before it’s either core or it’s not except that it was also Edward Deming who said you don’t have to change after all there’s no mandate to survive. If you don’t want to change just prepare yourself for business death

Lee:

The inevitable.

Darren:

And yet you see so many companies (Einstein’s definition of insanity) that are doing the same thing over and over again in a market that is being disrupted by technology. Technology is disrupting the economics. It’s disrupting the business processes and therefore disrupting categories, and yet it seems like Boards and the C-suite for a lot of companies are absolutely paralysed in the face of change.

Lee:

Yeah.

Darren:

So, why? Continue reading

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How TrinityP3 is helping optimise marketing performance through technology – 3 case studies

Technology platforms, both martech and adtech, provide marketers with the opportunity to be more effective and efficient in their marketing. But technology is said to be moving at click speed and the investment is significant. It is important when investing in marketing technology solutions that the marketer has defined objectives and has a clear view of what success looks like. But, more than this, it is important to take into consideration the current processes that the technology is intended to support and the cultural appetite for change.

We have been involved in helping companies select new technology platforms and tender for new vendors, but we have also worked with organisations that have legacy systems and platforms that are under-performing or not performing at all, and have provided a diagnosis and options for consideration. Also, we have reviewed our clients’ current technology stack to identify optimisation opportunities and assess the organisation’s technology transformation. Each time we bring a totally independent and expert perspective to the process. Here are three case studies of the work we have undertaken providing solutions to marketers’ technology challenges. Continue reading

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Managing Marketing: The importance and the difference in marketing to women

Kylie Rogers, Managing Director of Mamamia Women’s Network, and Lauren Joyce, Head of Broad, their strategic consultancy, talk with Darren on how women are driving commerce today, and why marketers may be missing out on this dominant audience by not marketing specifically to them in the way they want to be engaged.
Transcription:

Darren:

Welcome to Managing Marketing and today I’m here at the Mamma Mia Women’s Network with Kylie Rogers, Managing Director and Lauren Joyce, who’s Head of Broad, which is the strategic consultancy here at Mamamia. Welcome.

Kylie:

Thank you so much for having us, Darren.

Darren:

In actual fact, I should be saying thank you for having me because coming here to Mamamia, as soon as the lift doors open and I saw all of the pictures on the wall and all of the people and the energy I could tell that this was a very different place to work.

Kylie:

I appreciate your saying that. Sometimes in the furore of your working week you forget the energy that really does exist in this place; it’s very progressive. It’s almost tangible.

Darren:

It’s palpable when the doors open. I think that’s why I walked in a bit confused; it was like being hit with this energy and noise. There are workplaces where there are people screaming but it was just this energy that is happening here. It was very exciting. Continue reading

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7 Questions Everyone On Your Marketing Team Should Be Able To Answer

When it comes to setting expectations with your agency(s) – and your marketing team – there are some ‘price-of-entry’ questions everyone should be able to wrap their head around. None are complex, but they are the bedrock of creating harmonious client/agency relationships and ensuring everyone is focused and aligned.

And even if you think your teams are completely clear and in sync with their respective roles and responsibilities, some of the answers (or lack thereof) might surprise you. So, why not test them out? Here is what we believe are the top 7 questions everyone on your business should be able to answer:

What are our expectations?

Whether asked from an individual or corporate perspective, expectations of – and between – everyone should be the starting point. The sting in the tail of this question is that if people can’t answer it, chances are you’ve not been clear or never articulated expectations to begin with – so if there’s a worrying silence after asking it, perhaps it’s an opportunity to bring teams together and let them know. Continue reading

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Engagement Agreements to align expectations and performance – 3 case studies

Just as marketing is increasingly complex, so the relationships between marketers and their various agencies are increasingly complex and difficult to manage. Many of the past practices, both formal and informal, struggle to keep pace with the changes and complexity. Over the past decade and more we have seen many marketers still relying on the assumption that the relationship they have will their agencies will naturally manage to work itself out. At the same time, we have witnessed an increase in complaints from marketers over the fact that their agencies struggle to work or collaborate together.

We have also witnessed an increase in agency contracts that appear to address this issue, with the inclusion of service level agreement (SLAs) and set up key performance indicators (KPIs). The trouble is that firstly, these are designed for the delivery of services, but do not easily define the interdependent relationship that exists between marketers and their agencies or between the agencies working with the marketer. Secondly, the agency contract, once signed, is often filed and not looked at again until an issue arises or the marketers are planning to take the relationship to the market. Continue reading

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Is your marketing function centralised, decentralised or distributed?

It is interesting that when you are talking to business people about marketing, the majority seem to think of marketing in the context of marketing communications, or what was not long ago considered Promotions or Advertising, one of the Ps in what was the 4Ps of marketing. This is probably not surprising as promotions and advertising are certainly the high profile and public end of the marketing process and certainly where a significant component of the budget is spent, especially on paid media, but increasingly on owned and earned media too.

But the fact that many organisations think of marketing as the marketing communications area, leaves the question of where are the other traditional marketing functions located within the organisation? The reason for asking is that often when we are what marketing structure do you have the most common answers are either centralised or decentralised. Only to find out that even when it is centralised it is usually only the marketing communications function that is centralised and typically marketing is actually distributed across the organisation.
Continue reading

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Six reasons why you may have many more agencies and suppliers than you need

We provide a very popular solution called Agency Roster Alignment where we analyse and map the current roster against the advertiser’s strategic needs, spend and satisfaction with the incumbents. Some of the really common responses when we report back on the current rosters is, first, many are surprised at the number of agencies and marketing vendors on the roster and, second, how they could have ended up in this situation with so many agencies and suppliers. Let me deal with the first response and then expand on the second in the observation points below.

First off, when we take about rosters we are not simply talking about the major agencies such as creative, media and digital, plus perhaps a PR company, a design studio, and that sales promotion firm you use occasionally. We are talking about all of the agencies, suppliers and vendors that you spend your budget with, including market research firms, event companies, mail houses, technology solutions providers, and everyone in between.

Just as marketing has become more complex, the number of vendors, agencies and suppliers has grown too. But the fact is there are some very solid reasons as to why you may have more agencies and suppliers than you need. And that is not a good thing, as each extra one on your roster is consuming time and money by just being there. Continue reading

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