Welcome to the February edition of TrinityP3’s e-news
Managing pitches. Reviewing marketing structures, capabilities and processes. Benchmarking and negotiating agency fees. Assessing production costs. These are just a handful of the ways we help marketers, advertisers, their procurement teams and their agencies identify and eliminate waste and duplication that robs marketing budgets of their value. Often the result is referred to as savings. But what we are really doing is saving this money from being wasted.
But beyond identifying savings in the marketing ecosystem, we also deliver value that can be more intangible. This value is defined in the ways we work. The approach we take. The knowledge we share. And in the result we provide, beyond financial savings. This is because focusing on savings alone does a disservice to the marketing function. Marketing is, and should be, the growth engine of any and every organisation. Simply reducing the cost is a fool’s errand, unless at the same time you are improving the outputs and the outcomes of those marketing functions. That is the value you deliver.
Here we share the ways we deliver, beyond savings, for marketers and advertisers, procurement and sourcing and agencies and other marketing suppliers. We would love to know what you think. Please let us know.
Value for marketers and advertiser
As marketing management consultants, for years, we’ve been working with marketers, helping them to solve performance issues with their agencies, or selecting new agencies, solving roster issues, helping them achieve a level of media transparency and define media value, develop and implement more accountable agency fee models and more.
But we wanted to explain how, beyond what we do, how the way we do it adds significant value for marketers. How the underlying ways we work, our scientific and analytical approach, leveraging our broad industry experience and knowledge and our independent and innovative thinking, provide value beyond the task delivered.
There is a lot of discussion in procurement circles, particularly in marketing category procurement, around defining value. Since we first found ourselves working with procurement teams, our value proposition has often been in conflict.
We refused to get paid on savings. It is easy to drive down agency costs, but the result is rarely sustainable and represents false value. On the cost side, we always provided a fixed fee to achieve specific, agreed outcomes. Irrespective of the number of hours or cost per hour. But for the many procurement teams we have worked with, here are some of the many ways we deliver value through the engagement.
Over the twenty years of TrinityP3’s history, we have worked closely with agencies of every kind in many markets around the world. Sometimes this has been through our work with the client organisations that employ them but also as direct clients of our business.
During this time, we have developed distinctive methods and proprietary tools to add significant value to agency businesses. Plus, many of TrinityP3’s consultants have lengthy agency experience in their CVs, often in the most senior roles and with both independents and network companies. So, we have a strong understanding of agencies as businesses from every angle, not only from the viewpoint of what their clients really want from them but also as agency insiders ourselves.