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The easiest and fastest way to increase the buying power of your marketing budget is through managing the scope of work for your agencies. It allows you to remove duplication and uncertainty, take advantage of economies of scale and therefore get more value for your agency budget without simply driving down the rates and prices.
Building a scope of work is essentially important today as there has not only been an incredible fragmentation of outputs, but also a dramatic increase in the deliverables agencies are producing for their clients these days, especially due to content marketing, social media and digital advertising.
While many marketers may avoid committing to a scope of work due to a concern over flexibility and lack of certainty, it is possible to manage the agency scope of work to allow for unforeseen market driven changes and deliver significant performance improvements and increased value from your agencies.
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