What are we to make of the holding companies in 2017?

The marketing communications holding companies, like the industrial conglomerates that preceded them, were created through M&A transactions and run as decentralized financial holdings. In this business model, acquired agencies and businesses are expected to improve their financial performance by growing revenues, profits and profit margins. The holding companies make additional acquisitions, using their ever-increasing stock market prices to buy more efficiently. Continue reading

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The importance of financial analysis in determining marketing priorities

In dealing with the management of marketing, a significant component of the work we do is assessing and benchmarking the value of the marketing investment of our clients. This budget is spent with a range of external suppliers. These external suppliers include advertising, digital and media agencies, but also the thousands of other suppliers who are competing for the share of the marketing budget. These suppliers can include everything from printers and merchandising providers to market researchers and software providers. Continue reading

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Is the problem with data the fact that many marketers misuse it?

A recent interview with Professor Gary Lilien in Marketing Magazine on marketing analytics and the skepticism that still hinders its universal adoption got my attention. Not because of the issue, but because I have been longing to get to the bottom of why marketers are so sceptical. (I have my own hypothesis, which I will share below). He believes it is due to insecurity due to a lack of understanding of how marketing analytics works. I have joked a couple of times here that “72% of people are fooled by statistics” yet data and therefore statistics is an important foundation for marketing and understanding the market place. Time and again I hear about marketers struggling with or even rejecting data because it is often too confusing and therefore offers them no value or that the insights derived from the data conflict with their beliefs and so they reject its validity. Continue reading

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If you think it’s expensive to hire a professional marketing management consultant to do the job, wait until you hire an amateur

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 erupts 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. Continue reading

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Managing Marketing: The role of digital, content and social media in marketing

Jeff Bullas is the CEO at jeffbullas.com and a entrepreneur, blogger, author and marketers, who talks with Darren on the importance of strategy and a focus on return on investment when using digital, content and social media marketing techniques to ensure effectiveness and to focus you on performance in the face of increasing opportunities and options. Continue reading

Posted in data & direct marketing, interesting observations, marketing process optimisation, mobile marketing, Podcasts, return on investment, social media & digital marketing, strategic management | Comments Off on Managing Marketing: The role of digital, content and social media in marketing

Sorry, but there is no best practice agency roster structure anymore

There is an on-going industry discussion about agency rosters. What is the best size? Is it better to consolidate and reduce the number of agencies or diversify the agencies to ensure you have all requirements covered? When you look at the industry it could appear that there is a trend here as marketers add in agencies to the roster and then react to the size and complexity of the roster and then start to consolidate and shed the agencies they believe they no longer need as they consolidate the supposed full service agency. Continue reading

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Managing Marketing: Social Media Marketing and the Law

Sara Delpopolo is the Principal at Axis Legal and the founder and President of the International Social Media Association and talks with Darren on the legal issues concerning social media, particularly about the role of copyright, intellectual property and trademarks but also many of the other legal issues often overlooked in the social online world. Continue reading

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Managing Marketing: The major challenges facing Marketers and their Brands

Bill Merrick, Managing Director of TrinityP3 UK has had an extensive career as both a marketing director and in regional and global roles on the agency side. Here he chats with Darren on the challenges facing marketers with growing expectations from boards and shareholders, greater accountability, increased demands on their time and resources and reduced average tenure in the role. Continue reading

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How to apply the 80/20 rule in your business for more effective marketing

The Pareto principle (also known as the 80/20 rule), states that, “for many events, roughly 80% of the effects come from 20% of the causes”. Wilfredo Pareto developed the concept in the context of the distribution of income and wealth among the Italian population in the late 1800s when at the University of Lausanne. I’ve always loved the rule, and often apply it in marketing planning. It’s a simple way of identifying where business value is coming from when analysing a customer base. (ie: 80% of the revenue, or profit, comes from 20% of consumers). Continue reading

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Why not all agency pitch processes are equal

I recently had a conversation with a CMO who had just completed an agency pitch with a pitch consultant. Not a TrinityP3 pitch consultant, but one of our many and growing competitors. It was interesting because he was not completely satisfied with the process or more importantly the outcome. So what was the issue? He asked me to describe the process that TrinityP3 usually recommended. I shared our fully managed process and 30 minutes later, when I had described it in detail, he shared the process that the pitch consultant they had used had taken them through. Continue reading

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