How the TrinityP3 Scope Monitor helps agencies and advertisers agree agency fees
Using a cost based retainer or fee model with your agency means buying agency resources by the hour. When there is a disagreement, it means the agency pulling out timesheets and spreadsheets to justify their fee while the marketer is under pressure to lower the fee. The TrinityP3 Scope Monitor can overcome this by focusing on outputs and outcomes instead of cost inputs.
Find out how here.
How to define an agency scope of work to deliver increased value
Defining an agency scope of work can be difficult, especially where the plan is dynamic. But the benefits of having a detailed scope for the agency are many, not the least of which being the ability to increase the value of the agency work but eliminating waste and duplication. The scope of work management is essential for any marketing using Zero Based Budgeting or wanting to budget agency cost based on the value.
You can read more about this topic here.
Aligning marketing expectations to marketing budget when establishing the agency scope of work
How much work does your budget buy? We don’t mean how many agency staff or FTE. But how many deliverables of what quality and type can you buy? How much does it cost? What should this scope of work cost? We have the methodology to be able to calculate not only the agency resources required, but also the cost. In this way, you can assess accurately the cost up front as part of your budget planning process.
Find out how here.
The important differences between scope of work and schedule of work
Is your marketing plan seasonal? Are there busy times and less busy times for your agency throughout the year or from year to year? Then, you need to consider going beyond simply a scope of work to a schedule of work. A scope of work defines what needs to be produced by the agency. The schedule of work also provides timing on when these outputs are required. In this way, you can identify peaks and troughs in the scope and even potential bottlenecks.
Read more about it here.
Calculating Agency Compensation And Resource From The Scope Of Work
What mix of agency resources do you need to deliver your scope of work? Not just the level of agency resources, but the mix of those resources, by discipline and by seniority. Is your account management level too low or too high? Are your teams full of juniors or overloaded with senior resources? Is the resource plan you are paying for delivering the results you need? Based on the scope of the work the agency is producing, it is possible for us to calculate the right level and mix of resource you need.
Find out how here.
CASE STUDY: Agency Remuneration and Scope of Work Benchmarking
Instead of taking your agency to market with a disruptive pitch or tender process, this case study shows how you can ensure you are paying a marketing competitive price without having to go to market. Using the scope of work delivered by the agency, we can provide a calculated analysis of the agency resources required and the associated cost.
Read more on this case study here.
Managing Agency Scope of Work to improve efficiencies and performance: A White Paper
Struggling with your agency scope of work? Wanting to finalise next year’s budget and looking for ways to make your marketing budget go further? This new White Paper provides you with a step-by-step approach to developing your agency scope of work, and outlines all of the issues you need to consider to accommodate economies of scale and changes that occur.
You can read more and download your free copy here.
Here are the most read, most shared and most commented on articles from the TrinityP3 blog in the past month:
- Agency Remuneration: A Loser’s Game
- Drowning in Marketing Deliverables
- Managing Marketing: The challenges facing the advertising agency business model
- It’s more than the agency roster and the scope of work. It’s the relationship, stupid!
- Who’s to blame for the current digital media mess? We all are.
- Why it is so important to have an agency scope of work
- Can Procurement Fix Madison Avenue’s Mess?
- How to build flexibility into an agency scope of work
- Managing Marketing: The role of innovation, creativity and technology in driving change
- Organisational Mishmash: The Ad Agency’s Unaccountable Structure
Most in Demand for this Month
The TrinityP3 team has been busy helping our customers on the following projects last month:
- A large FMCG client had us assess their new TVC to check that it was delivering the required value.
- Rate-card assessments were in demand last month as a leading infrastructure business engaged us to evaluate their existing pricing.
- The same infrastructure marketing team also asked us to find a new strategic partner for their media requirements.
- One of Australia’s larger financial institutions used the team to recalibrate their marketing strategic alignment.
- An online transport provider had us assist with finding a new creative agency.
- We helped a large international tourism provider with benchmarking for three of their international agencies in the digital space.
- Last but not least, another large financial company asked us to look at the current remuneration arrangements they had in place.