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Rather than what “would”, or “could” my advertising cost be, we are increasingly being asked by our client what “should” our agency costs be?
It is an interesting questions and one that we are able to answer with a high degree of accuracy.
You see rather than making a guess, like a lot of consultants, procurement professionals and agency staff, we can calculate what your advertising should cost based on your requirements or scope of work, the category you are advertising, the market and the type of agency you are working with – both in quality and discipline.
Media, brand, digital, social, PR, sales promotion, retail or shopper activation and the like.
At TrinityP3 we have been collecting and analysing agency resources and cost across a wide range of categories and projects and we have developed benchmarks and a methodology to accurately calculate what an advertiser’s projects or requirements should cost.
Interestingly these benchmarks vary by the category with automotive and alcoholic beverages being at the high end, telecommunications and financial services in the middle and retail at the lower end. But the relationship types between the advertiser and the agency also impact the cost too.
What this means is we can take a scope of work, and by defining the various variables, calculate accurately, within 5 – 10% what the agency cost should be.
This is useful as it means you can do a few really neat things, like assess how efficiently you are currently working with your agency or budget your agency fees for the coming year or accurately benchmark your agency arrangements, against a result calculated and customised specifically to your circumstances.
At TrinityP3 we have been providing this service for more than a decade. So if you want to know what your agency “should cost” ask us at TrinityP3.
We never guess, because some things are too important to be left to chance.
Don’t you agree?