Category: Fee Negotiation

Time to buckle up. Agencies continue to say that the cost of retaining and attracting agency staff has significantly increased. What does this mean for you?

In 2007 most agencies absorbed the significant cuts in their client’s advertising budgets. With Covid-19 damaging the economy, will they do the same again?

Marketers and procurement professionals often look at agency hourly rates as a measure of value. But is that really useful? Get a better understanding here.

Let me be completely up-front here, this is not just an issue for advertising agencies, it is also an issue for consulting companies like mine. There are many major companies who will put you through a detailed and protracted procurement process, negotiate your tendered price down and then inform you that they have payment terms of 90 days or more.

Others are less obnoxious in that they state their payment terms up front, which, depending on the type and size of the project being tendered, allows us the opportunity to politely withdraw from the process because there are plenty of other more reasonable companies willing to pay for our services on 30 days and sometimes less so that we do not need to waste our time on companies who basically expect their smaller vendors and suppliers to act as their source of free cash.

Negotiations can be difficult things, especially when either party is speaking a different language. And believe it or not, marketers and their agencies do often speak a different language, which is why these negotiations can become protracted and frustrating. Here are a few of examples of how the process can go hopelessly wrong.

TweetShareShareBufferPinThis post is by Darren Woolley, Founder of TrinityP3. With his background as analytical scientist and creative problem solver, Darren brings unique insights and learnings […]