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Top 10 tips for managing advertising production costs

by on Nov 02, 2011

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http://www.trinityp3.com/ ...

http://www.trinityp3.com/
The biggest marketing expenditure after media is often production. Television, print, digital, interactive, radio, cinema, outdoor, brochureware and the like can contribute to more than 70% of the fees paid to content creating agencies. But often the quality, the cost and the time it takes is directly impacted by how the production process is managed. Often the mistake marketers can make is to think this is completely in the hands of the agency, design company or supplier. But in fact, the cost impact of poor production management affects the marketer more than anyone and therefore there are a number of key steps marketers can take to reduce this impact on their budget. This is not about marketers taking over production management, but it is more supplier and project management to make sure that their agencies and suppliers can deliver the best possible outcome in quality, time and cost.

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  • babitabaruah Babita Baruah, Advertising professional at JWT Thank you Darren 2 years ago
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  • darrenwoolley TrinityP3 at TrinityP3 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
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  • darrenwoolley TrinityP3 at TrinityP3 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. 2 years ago
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  • babitabaruah Babita Baruah, Advertising professional at JWT Darren, while you have touched upon this, am stressing on this again. Most costs go up for a) production being done in unbelievable timelines b) umpteenth rounds of changes. Some suggestions I have.

    a. Make it a mandate that at least three full weeks are planned for production, post director approval and cost approval.

    b. Make all additional changes come at an additional cost. Both client and agency seniors should be aware of this and sign up additional costs everytime they want a new logo or a vo inserted post a detailed PPM.
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Top 10 tips for managing advertising production costs Top 10 tips for managing advertising production costs Presentation Transcript