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the
do’s and don’ts of agency reviews
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2005
has taken off with a bang. Here it is the middle of
March and the team at P3 is busy with agency
contract negotiations, television production workshops, media
benchmarking and direct marketing process auditing.
The media talk about a boom 2005 appears to
be a reality. Also in the media there is word
on a number of agency reviews, with mixed
reactions to the NRMA Roadside Project, the issue of
pitching process and etiquette has been raised
again.
In this edition of the P3 e-news we provide
you with a list of dos and don’ts if planning
to review your agency in the near future.
P3
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pitching
properly
| DO
make sure you have reviewed the current agency contract to
be sure of any review or exit conditions. Even if you don’t
believe you have a current contract, ask the agency, otherwise
it could be an unpleasant surprise.
DON’T
race around telling everyone you are going to review
unless you want to handle the many hundreds of approaches you
will get from many inappropriate agencies. It is amazing how
quickly information like this spreads.
DO
form a review team of key decision makers and develop a timeline,
ensuring that all decision makers are available throughout each
step of the process, especially for all agency meetings and
presentations.
DON’T
underestimate the time commitment required from within the organization
to manage the review process professionally. Depending on the
size of the review, the number of agencies included and the
number of participants within the organization, you could be
looking at more than 500 head hours to complete.
DO
write a brief of the type of agency and services you
require from a new agency. A good place to start is
by listing any shortcomings or issues with the current agency.
Be realistic in your assessment of needs.
DON’T
release the details of the selected agencies to the industry
or the media until the final appointment has been made.
In many cases agencies on the list will use rumour and industry
gossip to undermine their competition.
DO
set firm timelines and explain the process to the selected
agencies at the start of the process. Even if the process
is extensive and protracted, the agencies will appreciate your
honesty.
DON’T
invite more than three agencies to develop and present strategic
and creative work. Using a process of RFI, credentials
and interviews, you should be able to reduce the number of agencies
to a short list of two or three, saving you and them valuable
time and money.
DO
offer the agencies reasonable pitch fees if you are
asking them to undertake strategic or creative work as part
of the pitch and especially if you require them to assign the
right to this work to you even if they are unsuccessful. The
amount will be based on your expectations of the agencies.
DON’T
use pitch consultants who charge the agency to participate
in the pitch. Charging agencies for pitch participation, or
a success fee, compromises the integrity of the process as it
is seen by most agencies as unethical.
DO
contact P3 if you want help and advice on planning
you next advertising or media agency review. P3 (Melbourne)
03 9378 3223 or (Sydney) 02 9279 4997 or email people@p3.com.au
P3 can
provide you with a range of services, from providing
a review of suitable suppliers from our extensive
industry database through to providing you with a proposal
to manage the whole process for you.
Truth in advertising |
| |
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You
may have seen part of this short film on the
web, where the cast act out the roles of advertiser
and agency, saying what they really think.
Did
you know this is available as a DVD from Amazon.com?
Click this link to check it out at Amazon.com
now!
It is really funny and very insightful.
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| Huh?
A new ad agency? |
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Looking
for a new agency that tells it like it is?
Check
out this agency on-line.
http://www.huhcorp.com/
Huh?
Is this the advertising agency of the future? Or just more of
the same? Either way, it is good for a laugh.
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| top
10 ways to make your pr work harder |
|
 |
|
The next P3 Top 10
delivers insights
into public relations.
P3PR has developed
an easy to use checklist of ways to ensure you are getting maximum
value from your pr budget.
To ensure you recieve your free
copy of the Top 10 PR Checklist go to www.p3pr.com.au
now and subscribe. |
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