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Building Value Into Agency Relationships
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Building Value Into Agency Relationships

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The shift in marketing towards digital combined with the emergence of evolving agency models, alternative marketing service providers and channels are significantly impacting the traditional agency …

The shift in marketing towards digital combined with the emergence of evolving agency models, alternative marketing service providers and channels are significantly impacting the traditional agency relationship. This demands new evaluation and assessment practices, closer linkage of measurement criteria to business value, and better ways to quantify and justify agency investments.

Published in: Business, Technology

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  • 1. Building Value Into Agency Relationships January 24, 2014 Geoffrey Colon, Group Marketing Manager, Social Media Bing Ads / Microsoft
  • 2. Today’s discussion Redefining value The evolving Agency / Partner business model How the Consumer Decision Journey picks your agency Social sentiment and big data as your agency calibration Programmatic scorecards and surveys Moving beyond the timesheet: Trends, Innovation, Execution and ROI as the new billable
  • 3. Redefining value “While businesses in every sector struggle with the influence and disruption digital technology has on their business models, marketers remain (paradoxically) unchanged. Structurally, procedurally, and culturally, many agencies and marketers look broadly the same as they did 50 years ago. It’s Mad Men - with computers.– Kristin Low, ClickZ, January 22, 2014
  • 4. Redefining value “There is nothing so useless as doing efficiently that which should not be done at all.” -Peter F. Drucker The impact of digital technology and media proliferation on marketing has largely been to streamline and increase the efficiencies of existing methods, rather than re-define them. And when the benchmark for success in our industry is campaigns or projects with single digit conversion rates, it’s not hard to conclude that the methods that underpin traditional marketing (be they digital or analog) are a wasteful pursuit.
  • 5. Redefining value Hours and costs look inside the agency, but value is created outside the agency Agencies believe value is created inside, rather than outside, their organizations, because they’re paying close attention to internal activities and very little attention to external outcomes Turn your attention and energies to what you are really buying from agencies Provide value: Become an expert in identifying, measuring, and analyzing agency business results instead of them selling you internal accounting data
  • 6. Today’s discussion Redefining value The evolving Agency / Partner business model How the Consumer Decision Journey picks your agency Social sentiment and big data as your agency calibration Programmatic scorecards and surveys Moving beyond the timesheet: Trends, Innovation, Execution and ROI as the new billable
  • 7. The evolving Agency / Partner business model Paid Owned Earned Emerging - - - • • • • • • • • - Creative - TV - Radio - Print - OOH - Experiences - Content Creation Purchasing - Airtime Impressions Search Display - Creative - Website design - Social property UX - Ecommerce UX and UI Tracking and Analytics PR Social Content Distribution Tracking and Analytics Trends Innovation Disruption Start-ups Growth Hacking Optimization Measurement Tracking and Analytics >These offerings still work where the company pays the agency in a vendor mode based on hourly billing (planning > execution)
  • 8. Today’s discussion Redefining value The evolving Agency / Partner business model How the Consumer Decision Journey picks your agency Social sentiment and big data as your agency calibration Programmatic scorecards and surveys Moving beyond the timesheet: Trends, Innovation, Execution and ROI as the new billable
  • 9. Open to possibility Consumer decision journey should decide your agency needs 01 Decision to change 02 Evaluating 03 Shopping 04 Experiencing 05
  • 10. Mapping the CDJ to Agency directives If the CDJ is stacked in experiential, how do you also solve for the other 360 degree areas that help amplify and track effectiveness?
  • 11. Today’s discussion Redefining value The evolving Agency / Partner business model How the Consumer Decision Journey picks your agency Social sentiment and big data as your agency calibration Programmatic scorecards and surveys Moving beyond the timesheet: Trends, Innovation, Execution and ROI as the new billable
  • 12. Social sentiment and big data as your agency calibration • How are you measuring offline? • Are you analyzing the “good data” from the “big data” to determine effectiveness at a micro level? • Instead of asking, “Is my agency providing ROI?” Ask, “Is my agency providing ROI within this particular area?” e.g., general awareness of a new product, driving traffic to experiential online Q&A, membership in a community, etc. • Is your paid and owned media “social by design?”
  • 13. Today’s discussion Redefining value The evolving Agency / Partner business model How the Consumer Decision Journey picks your agency Social sentiment and big data as your agency calibration Programmatic scorecards and surveys Moving beyond the timesheet: Trends, Innovation, Execution and ROI as the new billable
  • 14. Programmatic scorecards and surveys 10 questions total per concentration: • Scale of 10-1 • Strongly Agree/Somewhat Agree/Disagree • Objective/Provider • Survey is answered by both agency and company • Creates three scaled graphs • 0 to 200 • Above 100 exceeding expectations/ Below 100 not meeting expectations • 1x per year/2x per year/Quarterly
  • 15. Today’s discussion Redefining value The evolving Agency / Partner business model How the Consumer Decision Journey picks your agency Social sentiment and big data as your agency survey Programmatic scorecards and calibration Moving beyond the timesheet: Trends, Innovation, Execution and ROI as the new billable
  • 16. Moving Beyond the Timesheet Require each agency to deliver a trend report in their field of expertise 1x per quarter/2x per year/1x per year Task the agency with execution Enable digital measurement into the equation Build 20% of compensation into results
  • 17. Agency Partner Checklist  Evaluate if you have the right agency partners via CDJ tracking Measure and map where your customer is prior to choosing an agency. If you have a current partner, reconfigure based on the CDJ experience (Amazon)  Invest in social sentiment software Tracking offline and online campaigns via earned media is a must (IBM, CocaCola, Kraft)  Create scorecards to determine relationship barometer Are both partners meeting the objectives? Are both partners being realistic in their asks? Has everyone refined their skillsets for success? Can we trade for the right players to win the league?  Prepare for the future An agency is only as good as executing its strategy and thought leadership in a dynamic climate
  • 18. Questions? – gcolon@microsoft.com Twitter: @djgeoffe Blog: futuristlab.tumblr.com Podcast: spreaker.com/user/futuristlab SlideShare: slideshare.net/geoffreycolon