Recently there were two stories in the local trade press in Australia that caught my attention. Not because the issues were new, but that neither of the marketers offered a tangible solution to the problem they had identified.
As you may have read on previous posts, TrinityP3’s Evalu8ing tool for client agency relationship assessments is invaluable in so many ways. Like any relationship, one between a client and their agency partners needs commitment, honesty and open communication to encourage performance and collaboration.
In some ways it is just like in marriages, when people get busy and caught up in their own world, these fundamentals of keeping the relationship healthy are often overlooked. But unlike a marriage, marketers will often find themselves managing multiple agencies. And who really wants a polygamous marriage?
There are some really interesting findings here, especially in regards to the development of incentive models and performance-based bonuses. Thanks to the ANA I can share these with you.
So why change compensation?
Interestingly, there has been a shift in the motivations for changing agency compensation. In 2010 ‘Cutting Cost’ was the leading reason, which has been surpassed by ‘Improving Agency Performance’. Clearly marketers are discovering that you do always end up getting what you pay for. But then again, other reasons has doubled in the same time too.
The Procurement & Supply Australasia (PASA) Premier Confex
16 – 17 October, Crown Conference Centre, Melbourne
The programme and content is designed for a broad cross-section of procurement, contracting and supply professionals with the aim of stimulating new ideas and shaking up existing thinking. The theme Creating Value – The New Challenge for Procurement reflects the very real challenges facing the profession at a time when it is again asked to do more with less.
Darren Woolley will present a seminar in Stream E – Creating Value By repositioning procurement speak titled Rebrand or Reposition? – Defining and communicating the value of procurement. For more infromation, click here