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  TrinityP3 commented on Top 10 tips for managing advertising production costs

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  • 4 months ago

  

  PS: Babita, also check out Top 10 most common ways marketers waste money, if you have not already. It expands on this area a lot. http://www.slideshare.net/darrenwoolley/top-10-ways-marketers-waste-money Thanks
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  TrinityP3 commented on Top 10 tips for managing advertising production costs

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  • 4 months ago

  

  Hi Babita, I agree with both points about the cost drivers of production. But not the solution. The three weeks is immediately broken when often the marketer has little or no control over the timing as decisions often occur in other parts of the organisation. Therefore we usually suggest a two tier rate card for standard timeline productions and then a premium for fast-track productions. The faster it is needed the more it costs. In regards to changes we have found that monitoring the number of changes and charging a penalty for excess - more than 3 or 4 sets of changes changes behaviour where it is an issue. Often excessive changes is because of multiple stakeholders, but in the worse-case it is because of lack of attention to detail by both client and agency. There must be consequences for change to occur. The trick is to quantify the problem, identify the drivers and then build in incentives and disincentives to change behaviour. Thanks for your thoughts. It is a worthwhile discussion.
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  TrinityP3 uploaded TrinityP3 Advertising Agency Remuneration methodology

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  • 6 months ago

  
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