Where do you get your industry benchmarks?
We are able to construct industry benchmarks using a number of sources:
- TrinityP3 proprietary data. Across each year we work with clients and agencies who between them handle hundreds of millions of dollars in advertising billings, supplier contracts and other parts of the marketing budget. Whilst we never share named or sensitive data, the information we receive can be utilised for benchmarking purposes.
- Syndicated industry data from many sources, which helps us to identify broader trends ad analyse and contextualise proprietary data.
- Consultant experience. Our consultants all possess at least ten years of experience in a specialist field. They are able not only to access information, but to put an expert lens on how best to use the data we have. In some areas, particularly the more complex areas of marketing operation, our consultants are able to develop or improve best-practice approaches that translate into a proprietary Trinity P3 ‘Gold Standard’ against which all others can be benchmarked.
Are your benchmarks available to clients?
We do not provide benchmark data in isolation. Benchmarking data is often extremely sensitive, and also in continuous flux according to market conditions. What we are able to do is apply the latest information as part of a broader benchmarking assessment. However, it should be noted that, as with all benchmarking exercises, the report will capture the current market; it does not predict the future, or assume future market constancy. Marketers are advised to talk to us when using previously completed reports at a later date.
What types of industry benchmarks do you have?
Across the scope of our services, we work with a number of different types of benchmarks:
- Salary benchmarks, segmented by role, by level within role and by market
- Resource level benchmarks against different agency types, against the size of a project or marketer, against defined scopes of work
- CODB benchmarks, such as overhead mark-ups, profit margins, production costs, proportionate split between fixed and variable fee components
- Proprietary Best Practice benchmarks, detailing operational ‘Gold Standards’
- Media transparency and performance benchmarks
- Relationship strength benchmarks
How do agencies feel about your involvement?
Our experience suggests that if we conduct our business with the appropriate level of respect for all parties including agencies, then all parties including agencies see the benefit. If the process, the evaluation and the feedback is fair, then the vast majority of agency leads understand that our approach is one that can benefit them, as well as the marketers involved.
We can use our track record and reputation in market to allay the most common fear of agency leads new to our business; that of cost reduction. Whilst cost is always important in business, and needs to be assessed to ensure optimal efficiency, it does not always address effectiveness, and so needs to be balanced with several other consideration factors. We are, therefore, simply not in business to focus on agency cost reduction as a primary or sole metric. If you would like to see more about what we do focus on, please click here
If you would like to hear more from the agencies themselves, click here to see what some of the most respected agency leads in APAC think of us.
How do you charge and what are your rates?
Our project fees are fixed and agreed up-front against a defined scope of work. They are based on the projected number of hours and resources that our experience suggests will be required for any given project. We prefer to develop the scope with you as much as we can – even if you decide to purchase one of our ‘off the shelf’ reports, the work we do is still tailored to you, and as such we can always discuss necessary tweaks and adjustments.
We are open to discussion of other forms of remuneration, with one exception: we will not agree to a fee based on percentage of achieved cost savings. Accepting such a structure goes against our core belief that to build great partnerships and more effective marketing outputs, cost or cost saving should not be the primary or only factor. If you’d like to see more about our core beliefs, click here
What about where cost reduction is the driver for the project?
We are able to advise and consult on projects driven by a need to reduce cost. Our preferred remuneration model and principles do not change.
Our approach will not necessarily be as simple as cutting cost out of a particular department or supplier: we will focus more on optimising the overall structure to get to a more efficient operating model which minimises or eliminates any resultant reduction in output. Where we believe, based on our assessment, that there is no way to cut cost without significant reduction in output, we’ll be honest with you about why, and work with you to get to best possible outcome in those specific circumstances. Always underlying is our core belief that the strongest output always comes from a balanced, mutually beneficial approach. If you’d like to see more about our core beliefs, click here.
Do you do work for agencies?
TrinityP3 is independently owned. We are completely objective in our advice to our clients. For this reason, we do not undertake any work or receive any remuneration from suppliers to our clients, including agencies, consultants, media and production suppliers. However, in the interest of transparency it is worth noting that we do licence and source information from sources which have been funded by agencies (such as the MFA, SMI and Calibr8or).
Whilst we don’t work for agencies, we do work with them, and we recognise them as an important part of the industry. We invest a significant amount of time in developing the industry with free advice and feedback to agencies, and via our relationships with industry bodies and the trade press. If you’d like to see more detail about how we work with agencies, click here
What categories of marketing communication does TrinityP3 cover?
TrinityP3 operates across most areas of marketing communications. This brings us into regular contact with marketing teams and their agencies in various disciplines – creative agencies, media agencies, digital agencies, direct marketing, public relations, graphic design, production, marketing services, and research. We focus our service offering across three core verticals: Marketing Performance, Agency Performance and Delivery & Implementation Performance. If you’d like to see more details about our service offering, click here
How can you assure confidentiality?
Our work regularly takes us into sensitive areas. We regard it as a privilege, not a right, to be trusted with confidential information.
Without confidentiality, our business has no credibility, and therefore it forms our most important cornerstone. We select consultants who conform to our internal culture of integrity and trust. Contractually, our consultants are bound by confidentiality, IP, conflicts of interest, professional indemnity clauses. Additionally, you will see guarantees in our terms of agreement with you, the client.
What countries do you provide services in?
TrinityP3 is a global consultancy with offices in Sydney, Singapore London and New York. From these bases we service North, South and Central America, EMEA and Asia. We also have affiliate partners in the Africa, Middle East, Canada, South Korea, Spain and LatAm markets. If you’d like more information on how to contact us, please click here.