Welcome to the November edition of TrinityP3’s e-news
Earlier this year, Global CEO Darren Woolley was asked to contribute a regular opinion piece to The Drum , the global marketing, media and advertising publication across Asia-Pacific, Europe and the Americas.
Since then, eight of his opinion / thought articles have been shared with a global audience of marketers, advertisers, agencies and procurement. You can read them all here if you wish. But here is The Drum on a selection of Managing Marketing. You can find more thought leadership on the TrinityP3 blog here.
Why do agencies find it so difficult to develop and tell their own stories?
Over the past two decades, I have seen more than a thousand agency credentials presentations, either in reviewing an agency or as part of the pitch process. I am often asked to help agencies refine and sharpen their agency stories. You would think that advising a company that is tasked with developing their client’s brand story would be redundant. But for some reason, very few advertising agencies appear to know how to tell their story. Read more in The Drum here.
How should client and agency relationships be measured?
Don’t get me wrong, measuring and monitoring the client/agency relationship is important. It is, in fact, the most basic activity in which both parties can invest. It is also important you go beyond perceptions and opinions and start to measure the commercial performance as there are many examples where relationship surveys define a happy and perceived high performing relationship, then only to have it taken to a formal tender to test the commercial performance. This is when a more rigorous and quantifiable commercial relationship review is required and in fact necessary. Read more in The Drum here.
Do agencies deserve the bad reputation they get?
If you read the industry commentary about advertising agencies you would begin to think that agencies are filled with either stupid, lazy, untalented hacks or cunning, duplicitous, lying con-artists. But clearly the truth is a polar opposite of this.
After all who could start every day of their working life with the intention of underperforming at work for their client? Or worse, creatively concocting ways to rip off their clients? It is certainly not the people who are attracted to work in advertising. Read more in The Drum here.
Taking your marketing in-house? It is time to improve productivity
While the practitioners of in-housing declare the benefits, including lower costs, I am increasingly concerned that the value of in-housing appears to be measured by the same methodology as external agencies. Almost no advertising agency measures its productivity. Instead of measuring the quality and quantity of the outputs produced against the resources and the cost of those resources, agencies are inclined to simply measure the cost of the resources to ensure they are able to recover those costs in their agency fees. And it appears in-housing has gone the same direction, missing out on the single biggest financial benefit, which is improving productivity. Read more in The Drum here.
Agencies, do you know how your publicly-listed client’s share price is performing?
If you are a marketer of a publicly-listed company, then I suggest you try this little exercise with your agency account team. Or if you manage an agency with publicly-listed clients then try this with your client management team. Ask them in conversation how they think the client’s share price is performing based on the 90-day trends (hint: make sure you have checked the results yourself). You may be surprised at how little your account and client teams know about the business performance. But why is this even important? Read more in The Drum here.
Here are the most read, most shared and most commented on articles from the TrinityP3 blog in the past month: