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A presentation to the Future Forum 2015 organised by The NewspaperWork and held at the Hilton Sydney on Thursday September 10, 2015.
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A guide to the terms and definitions of the Value Pricing Output Model
A guide to the terms and definitions of the Value Pricing Output ModelTrinityP3 Marketing Management Consultants
www.trinityp3.com
A agency fee model based on paying a price for the value of the output requires clear definitions of those outputs.
The industry has language and definitions for outputs that can vary by advertiser and agency.
Disagreement or misalignment on the definitions of these outputs leads to confusion and misunderstanding.
Therefore we provide definitions and a descriptive framework to minimise confusion and disagreements.
The output pricing model framework
There are three categories of work being:
1. Origination (New Idea and Executions)
2. Extension or Refresh (Existing Idea and New Executions)
3. Adaptation (Complex and Simple)
There are four stages of work outputs being:
1. Strategy
2. Idea or Concept
3. Executions
4. DeliverablesA structured approach to agency and supplier roster management
A structured approach to agency and supplier roster managementTrinityP3 Marketing Management Consultants
trinityp3.com
Often the agency roster is defined by marketers and advertisers as the advertising agencies they work with on a daily basis. But from a financial and procurement perspective all suppliers paid from the marketing cost centre are part of the marketing supplier roster. Following on from the work done by TrinityP3 in 2011 this presentation takes the concept of a tiered roster approach further into the management and maintenance of the roster to ensure maximum performance and minimum waste.
Previous presentation on this topic can be found here https://www.slideshare.net/darrenwoolley/trinityp3-strategic-supplier-alignment-processAgency Roster Management
www.trinityp3.com
As marketing strategies change and become more complex there is an increasing requirement to manage the roster of agencies and marketing suppliers to maximise their value.
It requires thinking of the roster holistically and the individual agencies and supplier at the same time.
If you are commencing a roster management process for the first time or as an on-going improvement process there are five main steps.
1. Roster Structure & Alignment
2. Remuneration Benchmarking
3. Scope of Work Definition
4. Performance Management
5. Conflict Resolution
Michael Farmers Plan B - The Madison Avenue Makeover
www.trinityp3.com
On Tuesday December 4, 2017 Michael Farmer, author of the award winning marketing business book Madison Avenue Manslaughter presented his Plan B for the industry to turn the manslaughter into a make over that would get brands and agencies moving again. This is the presentation where he defines why the industry needs a Plan B and what that Plan B should look like to deliver a Madison Avenue Makeover.
The video of his lecture can be found here https://www.youtube.com/edit?o=U&video_id=zNhCKd3V-MA
The transcript of his speech can be found here https://www.trinityp3.com/2018/02/plan-b-turning-madison-avenue-manslaughter-into-makeover-part-1/
Introducing TrinityP3 Marketing Management Consultants
www.trinityp3.com
Company Credentials Presentation for TrinityP3 Marketing Management Consultants November 2017
For more than a decade, marketing has had its costs reduced, while expectations for delivering company growth have grown. Meanwhile technology has been providing greater opportunities and at the same time greater challenges. No wonder marketers are facing more complex problems than ever before.
TrinityP3 has developed new ways to solve these new and complex marketing problems.
So what are your major marketing challenges?
1. Do you need to improve marketing performance?
2. Or optimise your agency roster and agency performance?
3. Is media transparency, value and performance an issue?
4. Or is digital transformation and technology proving a challenge?
5. Perhaps you simply want to be more agile in your delivery?
6. Or reduce waste to deliver environmentally sustainable marketing?
No matter what your problem or challenge, we have the solutions and services to provide an informed and robust analytical approach to your marketing needs.
The ROI of a TrinityP3 managed agency pitch
www.trinityp3.com
Introducing TrinityP3
• In 2000, Darren Woolley, a scientist and advertising creative director, founded TrinityP3 in Australia. His purpose was to help people to achieve commercial purpose through creative process. People, Purpose, Process – the ‘3P’s’ of TrinityP3.
• Sixteen years on, we’ve grown significantly, in size and in scope. We are Asia Pacific’s leading strategic marketing management consultancy with an international network of industry professionals, consulting at the leading edge of decision making in the marketing and advertising industry.
• Our aim is simple. We want to improve the marketing output of every single organisation that engages us.
• Generating improvement can mean challenging the norm and changing values within a marketing team or broader organisation. We guide our clients on this journey, emerging in a better place for the marketing team and its attributable effect on the organisation.
• We have built significant proprietary IP over the last sixteen years, including sophisticated agency search functionality, detailed financial benchmarking capability, extensive contractual experience and app or web-based evaluation tools.
• Our client base includes more than 50 of the world’s top 100 advertisers. We continue to grow in experience, geographical footprint and expertise. We continue to challenge thinking – our own, and that of our clients.
• Our consultants all possess at least ten years of experience in a specialised field within marketing and procurement.
• We enjoy a high profile in the Australian market and have produced extensive industry material in the form of articles, blog posts, webinars, speaking engagements and opinion pieces. To see the extent of our work in this area, please visit http://www.trinityp3.com/blog/.
ROI Definitions
Typically, TrinityP3 adds value in a pitch process by ensuring the following:
1. That the needs of marketing and advertising are clearly articulated and fulfilled by the process.
2. That the process meets the highest standards of due diligence and corporate governance.
3. That the principles of procurement and marketing are accommodated in the process to achieve the best outcome for both the client and the suppliers.
We flex within the requirements of specific clients as much as possible, within scope; no two processes are exactly alike.
For clarity, we have split the definition of ROI into three components.
Financial ROI: Optimal Efficiency, Optimal Effectiveness.
Operational ROI: Refined Process, Refined Delivery.
Post-Project ROI: The Benefits of a Productive Agency Relationship.
What is marketing?
Marketing is defined in multiple ways throughout the document. The American Marketing Association defines it as activities for creating, communicating, delivering, and exchanging offerings that have value. Philip Kotler defines it as exploring, creating, and delivering value to satisfy customer needs at a profit. Others emphasize marketing as communication, brand building, customer experience management, sales preparation, customer focus, conversations and relationships, and strategic communications.
WFA Sourcing Forum: Tight Briefs, Focused Scopes and Value Creation
WFA Sourcing Forum: Tight Briefs, Focused Scopes and Value CreationTrinityP3 Marketing Management Consultants
www.trinityp3.com
Mark Bowling, TrinityP3 Senior Consultant based in Singapore recently addressed the World Federation of Advertisers Sourcing Forum on the current issues and trends in Marketing Management and Marketing Procurement and Sourcing.
In the presentation he discusses:
1. Scope of work setting and management
2. Agency remuneration models and trends
3. The challenges of a performance based remuneration model
4. Issues encountered during agency negotiations
5. Agency roster relationship and performance management
TrinityP3 Webinar Series: Transforming Production for the 21st Century
TrinityP3 Webinar Series: Transforming Production for the 21st CenturyTrinityP3 Marketing Management Consultants
The document summarizes the changing nature of production for marketers in the 21st century. It discusses how production has transitioned from traditional channels like TV, print, and newspapers to a digital-focused model. Key points include the importance of managing digital assets, decoupling production tasks, and focusing on reusable digital content rather than one-off productions. The presenter provides an overview of how production has changed for different media channels and recommends tools to help marketers adapt to these changes.TrinityP3 Webinar Series: Creating transparency and trust in media
TrinityP3 Webinar Series: Creating transparency and trust in mediaTrinityP3 Marketing Management Consultants
TrinityP3 Marketing Management Webinars
http://www.trinityp3.com/product-category/webinars/
Managing marketing and your agency suppliers continues to become increasingly complex and time consuming. TrinityP3 Marketing Management Consultants are thought-leaders in all aspects of marketing management to improve marketing and agency performance and increase implementation efficiency. This series of webinars are your opportunity to hear the latest industry best trends and practices from the consultants working in this category on a daily basis regionally and globally. An interactive approach means you will be able to have your specific questions answered by industry leading practitioners.
Topic: Creating transparency and trust in media
Date: Wednesday September 9
Time: 13:00-14:00 AEST
Presenter: David Angell
Description: The perception of media agencies as lacking in transparency, and therefore trustworthiness, has long been a challenge. The events of the last twelve months, centred around the well-publicised issues at Mediacom, have sparked huge debate on the topic of agency transparency in the Australian market and beyond. In this session we discuss ways in which trust barriers could be overcome, and what you as a marketer need to consider in order to build a better relationship with your media agency.
TrinityP3 Webinar Series: The latest trends in agency remuneration
TrinityP3 Webinar Series: The latest trends in agency remunerationTrinityP3 Marketing Management Consultants
This document summarizes a webinar on agency remuneration trends. It discusses various remuneration models including commission fees, retainer fees, hourly rates, and project fees. It notes a shift from input-based models that reward volume to output and value-based models that reward effectiveness. Performance-based and incentive models that align agency and advertiser goals through shared risk and rewards are also discussed. The webinar covered criteria for measuring business, advertising, and agency performance for incentive programs.Why everyone is bitching about advertising pitching
This document discusses ways to reduce complaints about the advertising pitch process. It suggests that marketers (1) clearly define what a successful outcome looks like, (2) align the pitch process to deliver that outcome, and (3) minimize wasted time and resources for both the marketer and agencies involved. The document outlines factors to consider, such as risks for both parties, evaluation criteria, a focus on capabilities versus relationships, and treating agencies as partners rather than vendors. The overall message is that defining objectives and managing the process efficiently can help produce better results and reduce dissatisfaction.
Managing Television Advertising Production Costs
http://www.trinityp3.com/
Television continues to be a cornerstone of advertising production, although the application of these productions are being used across increasingly more channels than ever before including: online, mobile, point of sale as well as broadcast and subscription television. But what are the best ways for advertisers to ensure they are maximising the value and managing the costs of these productions? The anger is that simply reducing the budget or cost means lower quality productions that are less effective in engaging the audience. But likewise over investing in production is simply wasteful. It is also important that beyond the initial investment, advertisers identify ways to leverage the value within these assets. This is often overlooked with most television assets discarded as a consumable item. But the online environment means that many of these productions have value beyond the initial media flight. Think Facebook timelines and YouTube channels, where this content exists. This presentation provides an overview of the television advertising production process and highlights areas of opportunities for managing costs and maximising value. It also provides a summary of the main approaches to achieve this cost and value approach.
I have also included scenes from the excellent film "Truth in Advertising" a Tim Hamilton Film by Axion Productions (c) 2001 to highlight the process. You can find out more about this funny view of advertising here. http://www.imdb.com/title/tt0283648/
Minimising the Commoditising Effect of Marketing Procurement
Minimising the Commoditising Effect of Marketing ProcurementTrinityP3 Marketing Management Consultants
http://www.trinityp3.com/
I recently gave this presentation to the Annual Leadership Forum of AMSRO held in Coolum, Queensland. The feedback from the audience of almost 50 research company business owners led me to think there is perhaps many professionals in the marketing category that are suffering from the application of what could be considered traditional procurement practices. This presentation is based on my 12 years consulting experience and 15 years advertising agency experience. It highlights strategies for dealing with procurement to move beyond the focus of price to encourage the evaluation of value. Of course there is no guaranteed, foolproof strategy here, but there are many interesting approaches and practical ideas for possibly increasing your success rate or minimising the waste of time of filling out endless RFPs, RFQs, RFTs and RFIs.Top 10 Ways Marketers Waste Money
http://www.trinityp3.com/
At a time when marketers are seeing tightening budgets and increased options and channels with an ever more elusive consumer, the pressure to reduce the cost of advertising is increasing. But often the biggest opportunity and the quickest win is in reducing waste within the marketing process that has often evolved over time.
Based on more than a decade of advising some of Australia's biggest and most successful advertisers, TrinityP3 provides this presentation on the Top 10 ways marketers often waste money, which provides you with practical advise on how to avoid or reduce this waste, returning more spending power to your marketing budget.
TrinityP3 Positioning and Structuring Marketing Within Organisations
TrinityP3 Positioning and Structuring Marketing Within OrganisationsTrinityP3 Marketing Management Consultants
http://www.trinityp3.com/
The role of marketing is increasingly complex and diverse and will vary greatly from organisation to organisation. How marketing is positioned within an organisation will impact greatly on how it is structured. This is a range of different strategic positions for marketing and the considerations and structures. There are some basic positions for marketing within an organisation based on the role marketing is to play within that structure. These positions are detailed with the considerations and strengths and weaknesses.TrinityP3 Strategic Marketing Supplier Alignment Process
http://trinityp3.com/
As marketing becomes more complex and diversified, driven by technology, marketers are finding themselves managing increasingly larger and more complex agency and supplier rosters. The traditional procurement approach of developing supplier panels based on capabilities and services no longer works in this complex environment. This presentation provides a strategic process for developing a roster of suppliers aligned to the marketing strategy which delivers alignment of the suppliers to that strategy.
TrinityP3 Advertising Agency Remuneration Principles
http://www.trinityp3.com/
Agency remuneration and compensation models are under pressure with a focus from procurement on marketing budgets. There are basically four types of agency remuneration being 1. Spend based (commissions) 2. Cost based (Head hours, overheads and profit multiples) 3. Output based (Pricing and fixed fee) 4. Outcome based (Performance payments and profit sharing). The last two are increasingly used together in a Value Based Compensation model which fixes the base fee for the agency's outputs and rewards the agency based on performance. This presentation provides an overview of the various advertising agency compensation models and provides guides and consideration to choose the right model for you.
Evalu8ing: The ABC of developing collaborative advertising environments
Evalu8ing: The ABC of developing collaborative advertising environmentsTrinityP3 Marketing Management Consultants
With the ever increasing number of communication channels, marketers are now working with more agencies and specialist service suppliers than ever before. To maximise the outputs of these various specialist groups requires alignment and collaboration. This presentation mad on Sept 6 2010 to the ISBA COMPAG in London highlights the many of the issues marketers and agencies must consider if they are wanting to work collaboratively. Inspire by the writing and illustration of Dr Suess who revolutionised the teaching of reading to children, this presentation is designed to revolutionise the way marketers engage with agencies to create collaborative outcomes and improved marketing effectiveness.How to manage agency relationships better or die trying
Presentation to the American Chamber of Commerce in Hong Kong by Darren Woolley, Managing Director, Trinity P3 Marketing Management Consultants on Monday May 10, 2010. Discussion on the various structures available to marketers for engaging the range of service providers to meet the increasingly complex marketing requirements.
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Super-charge your career by building your own brand on-line
- 1. marketing management consultants Super-charge your career by building your own brand on-line Presented by Darren Woolley, TrinityP3 September 2015
- 2. marketing management consultants Who are you?
- 3. marketing management consultants Google Search You “If I want to find someone, the first thing I do today is Google them”.
- 4. marketing management consultants LinkedIn You “If it is work related I search for them on LinkedIn”.
- 5. marketing management consultants How big is your reputation now? In your current job? In your city? In your industry or profession? In your state? How about your country? Okay, what about the world?
- 6. marketing management consultants Google+ is a plus “Google+ simply means they know about SEO” SEO: Search Engine Optimisation
- 7. marketing management consultants Twitter what you have to say “Follow people with something to say and re-tweet the best stuff”
- 8. marketing management consultants Blog yourself “A blog is where your personal brand strategy comes together”
- 9. marketing management consultants It’s all About Me “If you just want to tell them all about you, look for a site like About.Me”
- 10. marketing management consultants Present yourself - Slideshare “A great way to show off what you really know”
- 11. marketing management consultants Perform yourself - YouTube “Audition for that next role by starring in your own production”
- 12. marketing management consultants Make yourself heard - Soundcloud “Podcasting is a great way to get people talking”
- 13. marketing management consultants Be yourself - Facebook “Facebook is an opportunity to show your personal side”
- 14. marketing management consultants Measure your Klout “Klout is a measure of your social media authority”
- 15. marketing management consultants Assess your Kred “Your online Kred is a measure of how often your social media content is shared”
- 16. marketing management consultants Evaluate your LinkedIn SSI “Even LinkedIn has got in on the act with a new measure of your social selling”
- 17. marketing management consultants Create your personal Gravatar “Gravatar gives you a consistent presence across all of your social media”
- 18. marketing management consultants The secret to building your brand Define your personal brand by interests, tone of voice etc Create a presence in platforms relevant to your audience Curate your content to reflect your brand strategy Invest time and effort in yourself every day Social media is about being social Take a long term view of brand and career
- 19. marketing management consultants But most importantly Have fun!
- 20. marketing management consultants Please feel free to connect here TrinityP3 Pty Ltd Sydney +612 9964 9900 Melbourne +613 9682 6800 Singapore +65 6631 2861 people@trinityp3.com www.trinityp3.com TrinityP3.com/blog/ @darrenP3 TrinityP3 TrinityP3.StrategicMarketingConsultants