1. The document discusses various models for compensating marketing agencies, including commission/service fees, resource package fees (retainers), variable fees based on hours, and project fees.
2. It argues that the trend is moving from input/cost-based models like commissions to output/value-based models that reward agencies based on outcomes rather than volume of work.
3. Principles for fair agency remuneration include aligning advertiser and agency interests, basing agreements on understood terms and review dates, and ensuring flexibility over time.
Conference The 24 Golden Rules To Turn A Profit From A Business 09 03 12PatrickMGeorges
This one-day seminar provides an overview of 24 "golden rules" that experienced managers use to successfully organize and run business units. The rules are categorized into four groups: strategy rules, marketing rules, operations rules, and control rules. Applying the right rules involves selecting those suitable for a business unit's particular situation, whether a public/private organization, internal/external unit, and considering the costs and benefits of each rule. The workshop aims to help participants identify rules to apply and improve key performance indicators for their business.
This document discusses strategies for EquaShip to differentiate itself in the crowded shipping industry without a large marketing budget. It recommends taking a David vs. Goliath positioning by identifying unfriendly practices of major competitors UPS and FedEx to outrage customers. EquaShip should exceed customer expectations through innovations like bundled insurance, easy claims processes, refund policies, and improved tracking displays. The goal is to raise customer expectations above the major duopoly.
Learn about how to shape the organization structure, processess, and functions in line with the business strategy and realities of the business. HR becomes a strategic partner with the business leaders in driving bottom-line results.
The Productivity Linked Wage System (PLWS) theory addresses how to motivate employees through effective compensation contracts. It discusses incentive problems that arise from misaligned interests between employers and employees. PLWS proposes using a mix of fixed salaries and variable pay linked to measurable outputs to both insure workers against risks and incentivize better performance. Key elements include output-based pay to select more productive workers, and using the appropriate measurement metrics and time units for different job types.
ERA is a cost management consultancy that identifies ways for clients to reduce expenses and increase profits. They have over 700 consultants worldwide and have completed over 14,000 projects. ERA focuses on reducing non-core operating expenses through analyzing spending categories, recommending new suppliers, and implementing savings over 24 months. Clients realize average savings of 19.7% of expenses. ERA is paid only for verified savings and uses a contingent fee structure with no fees if no savings are achieved.
An interim manager is a temporary manager hired by an organization to manage a department or complete a specific project for a set period of time. Interim management requires experience in both technical skills and people/change management. Interim managers are independent consultants focused on furthering the client's interests through durable change and a successful project handover. Their independence and experience managing change makes interim managers well-suited for situations requiring reorganization, recovery from past issues, or expertise in special projects.
Conference The 24 Golden Rules To Turn A Profit From A Business 09 03 12PatrickMGeorges
This one-day seminar provides an overview of 24 "golden rules" that experienced managers use to successfully organize and run business units. The rules are categorized into four groups: strategy rules, marketing rules, operations rules, and control rules. Applying the right rules involves selecting those suitable for a business unit's particular situation, whether a public/private organization, internal/external unit, and considering the costs and benefits of each rule. The workshop aims to help participants identify rules to apply and improve key performance indicators for their business.
This document discusses strategies for EquaShip to differentiate itself in the crowded shipping industry without a large marketing budget. It recommends taking a David vs. Goliath positioning by identifying unfriendly practices of major competitors UPS and FedEx to outrage customers. EquaShip should exceed customer expectations through innovations like bundled insurance, easy claims processes, refund policies, and improved tracking displays. The goal is to raise customer expectations above the major duopoly.
Learn about how to shape the organization structure, processess, and functions in line with the business strategy and realities of the business. HR becomes a strategic partner with the business leaders in driving bottom-line results.
The Productivity Linked Wage System (PLWS) theory addresses how to motivate employees through effective compensation contracts. It discusses incentive problems that arise from misaligned interests between employers and employees. PLWS proposes using a mix of fixed salaries and variable pay linked to measurable outputs to both insure workers against risks and incentivize better performance. Key elements include output-based pay to select more productive workers, and using the appropriate measurement metrics and time units for different job types.
ERA is a cost management consultancy that identifies ways for clients to reduce expenses and increase profits. They have over 700 consultants worldwide and have completed over 14,000 projects. ERA focuses on reducing non-core operating expenses through analyzing spending categories, recommending new suppliers, and implementing savings over 24 months. Clients realize average savings of 19.7% of expenses. ERA is paid only for verified savings and uses a contingent fee structure with no fees if no savings are achieved.
An interim manager is a temporary manager hired by an organization to manage a department or complete a specific project for a set period of time. Interim management requires experience in both technical skills and people/change management. Interim managers are independent consultants focused on furthering the client's interests through durable change and a successful project handover. Their independence and experience managing change makes interim managers well-suited for situations requiring reorganization, recovery from past issues, or expertise in special projects.
This document provides an overview of key aspects involved in developing a business case for a project. It discusses what a business case is, its purpose, and key elements that should be included. The document outlines the typical phases and structure of a project, including project strategy and business case development, preparation, design, development and testing, training, support and benefits realization, close, and highlights for each phase. It also covers developing the business case document, including sections on the executive summary, problem statement, analysis, solution options, project description, cost-benefit analysis, recommendations, and things to check before presenting the business case. The overall summary is on developing a strong, evidence-based rationale for undertaking a new project or initiative.
This whitepaper discusses quantifying soft cost savings from implementing a vendor management system (VMS) or managed services program (MSP) for contingent workforce management. Soft savings include efficiency gains, reduced risks and legal liabilities, improved quality, and other benefits. The paper provides two methods for unearthing tangible elements of soft savings: 1) Identifying the nearest related tangible benefit and quantifying associated cost/revenue drivers, and 2) Examining the chain of actual measures leading to the end benefit and quantifying each step. Implementing an effective VMS/MSP program can result in total savings of 10-25% of spend within the first 18-24 months through both hard and soft savings.
This document discusses developing a winning proposal strategy. It recommends creating a customer-focused outline mapped to winning themes. Theme statements should link discriminating features to customer benefits. The proposal team should develop storyboards to share the strategy and turn themes into focused theme statements before writing begins. Organizing content around an informative structure and highlighting key points will help evaluators easily find important information.
This Slideshare presentation is a partial preview of the full business document. To view and download the full document, please go here:
http://flevy.com/browse/business-document/business-case-development-framework-199
The Business Case is an instrumental tool in both justifying a project (requiring a capital budgeting decision), as well as measuring the project's success. The Business Case model typically takes the form of an Excel spreadsheet and quantifies the financial components of the project, projecting key metrics for making any important business decision: Net Present Value (NPV), Return on Investment (ROI), Payback Period, Cost of Investment.
If a project has been justified by the Business Case (both financially and non-financially) and receives the go-ahead from executives, the Business Case model is then continuously maintained and adjusted to track the project?s progress against the initial financial projections and assumptions. This model then becomes a working document used during the project management process.
This toolkit will detail the process of creating a robust Business Case. It also includes a working sample Business Case model (in Microsoft Excel).
CEiS aims to be a key partner for new successful businesses in Central and Eastern Europe (CEE) by providing integrated solutions. It identifies businesses that could succeed in CEE and supports them through management consulting, financing assistance, legal/tax advice, and outsourcing/incubator services. CEiS' leadership has extensive experience in management, private equity, and working with companies entering CEE markets. An advisory board provides strategic guidance and ensures high quality client services.
AutoSuccess addresses the specific, researched needs of new car and light truck dealerships by providing entrepreneurial, cutting-edge, solution-based editorials to increase dealership profits and reduce expenses
AutoSuccess, magazine, sales, new, used, selling, salespeople, vehicle, dealer, dealership, leadership, marketing
For similar content visit http://www.autosuccesssocial.com/
878% Better Than Cold Calling: How Marketing Can Drive AppointmentsSalesEngine
Nurture marketing has gained significant traction in recent years, but marketers often struggle to tie the success of nurture efforts to closed deals. A recent study between Sales Engine and our partner, ebQuickstart, revealed an impressive connection between lead scoring and appointment setting. In this webinar, we discuss how we were able to obtain results nearly 9X better than cold calling and we'll share strategies that can help you do the same.
Procurement has evolved from a tactical, transactional function focused on short-term savings to a more strategic function focused on total cost of ownership and long-term value. Effective procurement requires categorizing spend, developing category strategies, and managing supplier relationships. Suppliers can engage more effectively with procurement by understanding the maturity level of the function, contributing to category management, building trust, and demonstrating how they can help address procurement's goals and challenges over the long run.
This document outlines the typical structure and content for a business plan presentation. It recommends including an introduction slide with company and founder details, an overview slide explaining the product/service and key points, and slides addressing the problem being solved, the proposed solution, market opportunity, technology, competition, marketing and sales, management team, financial projections, current status, financing sought, and a summary concluding slide. The presentation aims to hook the audience, validate the problem, present the solution, show market potential, and request financing to achieve stated milestones.
This document summarizes the offerings of Veracitiz, a consulting firm specializing in performance management solutions. It provides an overview of their Cognos-based products and services including TM1, Enterprise Planning, BI Suite and Controller. It also includes case studies on implementing TM1 for a cement company's financial planning, health checkups for an IT company, and consulting for a financial institution. Veracitiz focuses on process optimization and aims to maximize return on investment for clients through their IBM-authorized solutions and global implementation methodology.
The document summarizes a presentation at the 2009 Global Workforce Symposium on service level agreements (SLAs). It discusses how SLAs are increasingly used by procurement and purchasing teams to evaluate service providers. It also outlines some typical challenges in working with SLAs, such as having too many metrics, metrics being too difficult to achieve, metrics being too complicated, and penalties being too expensive. The presentation then provides advice on developing effective SLAs, such as keeping them simple, setting realistic thresholds, and focusing on continuous improvement.
This document discusses building a high performance organization through tools, best practices, and mentoring. It provides an overview of key elements like vision, strategy, engagement, implementation, delivery, and measurement. Specific tools are mentioned for tasks like customer lifetime value
This presentation provides the basic 5 steps that are used to build a formal sales process that can double your Sales Reps revenue. The key to success lies in the adoption of the designed process. A presentation by Sales Benchmark Index, A Sales Consulting Firm.
APMP Foundation: Proposal Schedule DevelopmentBid to Win Ltd
Completes the module Communicating your Plan from the Bid to Win APMP Foundation Accreditation Preparation programme.
Covers the Schedule Development, Proposal Risk Management and Kick Off Meeting Management KCAs from the APMP Accreditation Syllabus
The document outlines the key components of an effective management plan, including assembling a strong management team, board of directors, board of advisors, and other professionals. It emphasizes that business is about people first and that the management team structure conveys how open the company is to advice. The management team section should describe personnel, ownership, compensation, and mistakes to avoid. An organizational chart is also important to prevent tension.
This document discusses key concepts for developing a strong business concept, including having a clear vision, creating enduring value for customers, establishing a competitive advantage, being able to clearly describe what makes your business different, resonating powerfully with customers, developing a compelling 25-word concept, and creating relevant differentiation. It emphasizes focusing on the customer experience and differentiating your business through innovative ideas that create value.
The document outlines how to create an effective business case. It discusses what a business case is, why they are used, and when they are required. It also covers the typical components of a business case, including the strategic context, analysis and recommendations, and management and capacity phases. The document provides details on each phase and step to guide writing a comprehensive business case. It emphasizes analyzing options, justifying recommendations, and demonstrating how the proposed investment will be managed to achieve desired outcomes. Overall, the document serves as a guide for developing a formal business case proposal to obtain funding and approval for new projects and initiatives.
Facebook provides many tools for businesses to connect with fans, including brand pages, applications, sharing tools, and advertising. An effective Facebook strategy involves engaging existing fans, driving action like contests and offers, and adding scale through advertising and offline events. Success should be measured by metrics like fan growth, engagement, and actions taken. Key trends to watch include Facebook Connect, mobile usage, and virtual gifts. Authenticity is important, so businesses should avoid spamming fans or filtering negative feedback.
Ogilvy experts Thomas Crampton and Brian Giesen presented strategies for using Twitter for business. Giesen outlined a 3-step methodology: 1) follow relevant accounts, 2) create engaging content, and 3) engage with your audience. He provided examples of using Twitter for customer service, promotion, crisis management, events, issues advocacy, and reputation. Crampton noted additional resources and contacts for digital strategies. The presentation emphasized the importance of identifying objectives and engaging audiences on Twitter.
This document provides an overview of key aspects involved in developing a business case for a project. It discusses what a business case is, its purpose, and key elements that should be included. The document outlines the typical phases and structure of a project, including project strategy and business case development, preparation, design, development and testing, training, support and benefits realization, close, and highlights for each phase. It also covers developing the business case document, including sections on the executive summary, problem statement, analysis, solution options, project description, cost-benefit analysis, recommendations, and things to check before presenting the business case. The overall summary is on developing a strong, evidence-based rationale for undertaking a new project or initiative.
This whitepaper discusses quantifying soft cost savings from implementing a vendor management system (VMS) or managed services program (MSP) for contingent workforce management. Soft savings include efficiency gains, reduced risks and legal liabilities, improved quality, and other benefits. The paper provides two methods for unearthing tangible elements of soft savings: 1) Identifying the nearest related tangible benefit and quantifying associated cost/revenue drivers, and 2) Examining the chain of actual measures leading to the end benefit and quantifying each step. Implementing an effective VMS/MSP program can result in total savings of 10-25% of spend within the first 18-24 months through both hard and soft savings.
This document discusses developing a winning proposal strategy. It recommends creating a customer-focused outline mapped to winning themes. Theme statements should link discriminating features to customer benefits. The proposal team should develop storyboards to share the strategy and turn themes into focused theme statements before writing begins. Organizing content around an informative structure and highlighting key points will help evaluators easily find important information.
This Slideshare presentation is a partial preview of the full business document. To view and download the full document, please go here:
http://flevy.com/browse/business-document/business-case-development-framework-199
The Business Case is an instrumental tool in both justifying a project (requiring a capital budgeting decision), as well as measuring the project's success. The Business Case model typically takes the form of an Excel spreadsheet and quantifies the financial components of the project, projecting key metrics for making any important business decision: Net Present Value (NPV), Return on Investment (ROI), Payback Period, Cost of Investment.
If a project has been justified by the Business Case (both financially and non-financially) and receives the go-ahead from executives, the Business Case model is then continuously maintained and adjusted to track the project?s progress against the initial financial projections and assumptions. This model then becomes a working document used during the project management process.
This toolkit will detail the process of creating a robust Business Case. It also includes a working sample Business Case model (in Microsoft Excel).
CEiS aims to be a key partner for new successful businesses in Central and Eastern Europe (CEE) by providing integrated solutions. It identifies businesses that could succeed in CEE and supports them through management consulting, financing assistance, legal/tax advice, and outsourcing/incubator services. CEiS' leadership has extensive experience in management, private equity, and working with companies entering CEE markets. An advisory board provides strategic guidance and ensures high quality client services.
AutoSuccess addresses the specific, researched needs of new car and light truck dealerships by providing entrepreneurial, cutting-edge, solution-based editorials to increase dealership profits and reduce expenses
AutoSuccess, magazine, sales, new, used, selling, salespeople, vehicle, dealer, dealership, leadership, marketing
For similar content visit http://www.autosuccesssocial.com/
878% Better Than Cold Calling: How Marketing Can Drive AppointmentsSalesEngine
Nurture marketing has gained significant traction in recent years, but marketers often struggle to tie the success of nurture efforts to closed deals. A recent study between Sales Engine and our partner, ebQuickstart, revealed an impressive connection between lead scoring and appointment setting. In this webinar, we discuss how we were able to obtain results nearly 9X better than cold calling and we'll share strategies that can help you do the same.
Procurement has evolved from a tactical, transactional function focused on short-term savings to a more strategic function focused on total cost of ownership and long-term value. Effective procurement requires categorizing spend, developing category strategies, and managing supplier relationships. Suppliers can engage more effectively with procurement by understanding the maturity level of the function, contributing to category management, building trust, and demonstrating how they can help address procurement's goals and challenges over the long run.
This document outlines the typical structure and content for a business plan presentation. It recommends including an introduction slide with company and founder details, an overview slide explaining the product/service and key points, and slides addressing the problem being solved, the proposed solution, market opportunity, technology, competition, marketing and sales, management team, financial projections, current status, financing sought, and a summary concluding slide. The presentation aims to hook the audience, validate the problem, present the solution, show market potential, and request financing to achieve stated milestones.
This document summarizes the offerings of Veracitiz, a consulting firm specializing in performance management solutions. It provides an overview of their Cognos-based products and services including TM1, Enterprise Planning, BI Suite and Controller. It also includes case studies on implementing TM1 for a cement company's financial planning, health checkups for an IT company, and consulting for a financial institution. Veracitiz focuses on process optimization and aims to maximize return on investment for clients through their IBM-authorized solutions and global implementation methodology.
The document summarizes a presentation at the 2009 Global Workforce Symposium on service level agreements (SLAs). It discusses how SLAs are increasingly used by procurement and purchasing teams to evaluate service providers. It also outlines some typical challenges in working with SLAs, such as having too many metrics, metrics being too difficult to achieve, metrics being too complicated, and penalties being too expensive. The presentation then provides advice on developing effective SLAs, such as keeping them simple, setting realistic thresholds, and focusing on continuous improvement.
This document discusses building a high performance organization through tools, best practices, and mentoring. It provides an overview of key elements like vision, strategy, engagement, implementation, delivery, and measurement. Specific tools are mentioned for tasks like customer lifetime value
This presentation provides the basic 5 steps that are used to build a formal sales process that can double your Sales Reps revenue. The key to success lies in the adoption of the designed process. A presentation by Sales Benchmark Index, A Sales Consulting Firm.
APMP Foundation: Proposal Schedule DevelopmentBid to Win Ltd
Completes the module Communicating your Plan from the Bid to Win APMP Foundation Accreditation Preparation programme.
Covers the Schedule Development, Proposal Risk Management and Kick Off Meeting Management KCAs from the APMP Accreditation Syllabus
The document outlines the key components of an effective management plan, including assembling a strong management team, board of directors, board of advisors, and other professionals. It emphasizes that business is about people first and that the management team structure conveys how open the company is to advice. The management team section should describe personnel, ownership, compensation, and mistakes to avoid. An organizational chart is also important to prevent tension.
This document discusses key concepts for developing a strong business concept, including having a clear vision, creating enduring value for customers, establishing a competitive advantage, being able to clearly describe what makes your business different, resonating powerfully with customers, developing a compelling 25-word concept, and creating relevant differentiation. It emphasizes focusing on the customer experience and differentiating your business through innovative ideas that create value.
The document outlines how to create an effective business case. It discusses what a business case is, why they are used, and when they are required. It also covers the typical components of a business case, including the strategic context, analysis and recommendations, and management and capacity phases. The document provides details on each phase and step to guide writing a comprehensive business case. It emphasizes analyzing options, justifying recommendations, and demonstrating how the proposed investment will be managed to achieve desired outcomes. Overall, the document serves as a guide for developing a formal business case proposal to obtain funding and approval for new projects and initiatives.
Facebook provides many tools for businesses to connect with fans, including brand pages, applications, sharing tools, and advertising. An effective Facebook strategy involves engaging existing fans, driving action like contests and offers, and adding scale through advertising and offline events. Success should be measured by metrics like fan growth, engagement, and actions taken. Key trends to watch include Facebook Connect, mobile usage, and virtual gifts. Authenticity is important, so businesses should avoid spamming fans or filtering negative feedback.
Ogilvy experts Thomas Crampton and Brian Giesen presented strategies for using Twitter for business. Giesen outlined a 3-step methodology: 1) follow relevant accounts, 2) create engaging content, and 3) engage with your audience. He provided examples of using Twitter for customer service, promotion, crisis management, events, issues advocacy, and reputation. Crampton noted additional resources and contacts for digital strategies. The presentation emphasized the importance of identifying objectives and engaging audiences on Twitter.
10 Insightful Quotes On Designing A Better Customer ExperienceYuan Wang
In an ever-changing landscape of one digital disruption after another, companies and organisations are looking for new ways to understand their target markets and engage them better. Increasingly they invest in user experience (UX) and customer experience design (CX) capabilities by working with a specialist UX agency or developing their own UX lab. Some UX practitioners are touting leaner and faster ways of developing customer-centric products and services, via methodologies such as guerilla research, rapid prototyping and Agile UX. Others seek innovation and fulfilment by spending more time in research, being more inclusive, and designing for social goods.
Experience is more than just an interface. It is a relationship, as well as a series of touch points between your brand and your customer. Here are our top 10 highlights and takeaways from the recent UX Australia conference to help you transform your customer experience design.
For full article, continue reading at https://yump.com.au/10-ways-supercharge-customer-experience-design/
How to Build a Dynamic Social Media PlanPost Planner
Stop guessing and wasting your time on networks and strategies that don’t work!
Join Rebekah Radice and Katie Lance to learn how to optimize your social networks, the best kept secrets for hot content, top time management tools, and much more!
Watch the replay here: bit.ly/socialmedia-plan
http://inarocket.com
Learn BEM fundamentals as fast as possible. What is BEM (Block, element, modifier), BEM syntax, how it works with a real example, etc.
The document discusses how personalization and dynamic content are becoming increasingly important on websites. It notes that 52% of marketers see content personalization as critical and 75% of consumers like it when brands personalize their content. However, personalization can create issues for search engine optimization as dynamic URLs and content are more difficult for search engines to index than static pages. The document provides tips for SEOs to help address these personalization and SEO challenges, such as using static URLs when possible and submitting accurate sitemaps.
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.
The document provides information on different phases of an insurance agency's evolution including buying an agency, building an agency to stay competitive and profitable, and selling an agency. It discusses the important considerations and steps involved in each phase, such as conducting due diligence when buying an agency, developing a growth strategy when building an agency, and factors to consider when negotiating a price and finding the right buyer when selling an agency. The overall document aims to educate agency owners on what they need to know to successfully acquire, grow, and sell an insurance agency at different stages.
The document provides guidance on writing successful business cases that can obtain approval and funding. It emphasizes that business cases should be measurable and backed by evidence. Key points include:
- Business cases should justify a project's value, risks, priorities and benefits in a concise yet informative manner (typically 2-3 pages).
- They must demonstrate how the project aligns with organizational strategy and quantify expected financial and non-financial impacts such as increased revenue, cost savings, risk reductions and compliance gains.
- Assumptions should be supported by facts and benefits must be measurable both during and after project implementation through key performance indicators.
- High-quality business cases will consider alternative options, include input from finance and procurement
This document discusses designing a metrics dashboard for a sales organization. It recommends identifying key performance metrics that support sales objectives and strategy to help managers effectively oversee the sales team. Some benefits of a dashboard include gaining insight into sales drivers, identifying areas needing improvement, and enabling performance benchmarking. The document provides a framework for selecting metrics based on both corporate perspectives and elements of sales performance. It also outlines a process for creating a dashboard that includes selecting appropriate metrics, designing the dashboard, and implementing it.
Many successful businesses began in the WordPress plugin or theme repositories. If you’re like most developers, you’ve wondered if your development could make enough money to support yourself and possibly a small business. In this session Garth Koyle from Event Espresso will teach you how to evaluate whether there is a market for your code and if it’s worth the effort. Garth will also demonstrate several of the tools, strategies and methodologies he pioneered to win $40,000 in a business plan competition.
The document discusses key components of an effective compliance policy for an ecommerce program, including:
1. Issuing an "edict" to inform suppliers of expectations and deadlines.
2. Setting deadlines for supplier enablement and ceasing paper transactions to drive compliance.
3. Providing incentives for participation and establishing consequences for non-compliance to give the policy "teeth".
4. Implementing an ongoing non-compliance escalation process to enforce the policy and execute consequences for suppliers that do not meet the deadlines or requirements.
This document discusses trends in attorney compensation, specifically the increasing trend of basing compensation on client profitability. It provides details on how to calculate client profitability, including direct costs, overhead allocation, gross margin, and net profit. Using client profitability for compensation ensures firms operate competitively and empowers partners to improve profitability. While concerns exist, linking compensation to client profitability matures over time and incentivizes behavior aligned with the firm's financial interests.
ERA is an expense reduction consulting firm that has helped over 14,000 clients globally reduce expenses by an average of 19.7%. They work on a contingent fee basis, only earning a fee if they achieve measurable savings for the client. Their process involves analyzing a client's expenses over 6-8 weeks, defining options to reduce expenses over another 6-8 weeks, and then implementing solutions and monitoring for 24 months. ERA has expertise across many expense categories and a proven track record of success with many large clients across diverse industries. Their goal is to help clients reduce expenses through more cost-effective suppliers and processes, with no fee charged if no savings are achieved.
Vacation rental management companies success and opportunities in 2014Amy Hinote
The document provides strategies for vacation rental managers to succeed in 2014, emphasizing the need to operate professionally through setting goals, managing expenses, increasing efficiency, and continuously improving. It also discusses current industry trends like increased competition and changing business models. Business owners are encouraged to explore growth opportunities through acquisition or plan exit strategies, and to take proactive steps if facing financial difficulties.
The document discusses how Expense Reduction Analysts (ERA) can help XXX Corporation find extra profit by reducing non-core expenses through their proven process. ERA analyzes a company's expenses, identifies potential savings opportunities, implements recommendations, and monitors for 24 months to ensure savings. Their average cost savings across all expense categories for clients is 19.7% with no fee unless savings are achieved. The document outlines ERA's approach and encourages XXX Corporation to work with them to lower costs and increase profits.
How to Develop and Successfully Present Business CasesEMEX
Energy Managers often identify opportunities for energy reduction, however, the work does not stop once an opportunity is identified. The second, and often more important step, is to create a business case that explains to the management team the reasons that the project is beneficial so they can make the necessary funds available.
This session provides practical steps for developing successful business cases but will also expand on how to assess new innovative technologies.
The document discusses challenges in cooperation between manufacturers and resellers/distributors. It notes that conflicts can arise from competing interests but cooperation is important for sales. Well-designed partner programs can help maximize potential by resolving conflicts. The document recommends professional distribution partner management including thorough partner programs with incentives and services that promote both sales and relationship building. It provides an example of how Pepper helped a client overhaul their partner program and evaluation process.
Webinar originally aired February 2014
Join Encompass' Steve Karro in a meta-analysis of key industry reports from 2014 and learn practical tips accounting professionals can use to gain a competitive advantage today.
The document discusses alliancing and setting a target outturn cost (TOC) for infrastructure projects, noting that the TOC should be realistic and set at a level that incentivizes contractors without being too low or high. It also covers determining compensation under an alliance, including reimbursing costs, fees, and gain/pain sharing if actual costs are above or below the TOC. Key performance indicators are used to further incentivize contractors and align their goals with the project owner's objectives.
Nicholas Dean discusses how strategic partnerships and alliances can provide benefits to agencies and their clients. Partnering with complementary companies allows agencies to offer more services without developing new divisions internally. It provides clients with a total solution from a single source more quickly. To be successful, partnerships require trust between companies that share values and clear expectations about each party's contributions and benefits. Regular communication is also important to facilitate collaboration.
Create a strategic roadmap for 2020 and beyondnetwealthInvest
Learn from Brad Fox, Managing Director at SmartBrave Consulting, as he guides you through the process of creating an effective strategic roadmap to not just future-proof your business, but a strategy to thrive in 2020 and beyond.
B2B Pricing: the how of sustainable improvementIan Tidswell
This presentation focused on the practical steps for how to improve pricing, looking at the skills needed, organizational design, the way to think about pricing automation, and pricing metrics approach. This can be read in conjunction with my other B2B pricing presentations posted around the same time.
Multisourcing is a new global trend that involves blending services from internal and external providers to pursue business goals. It leverages multiple specialist teams to improve quality, costs, and time-to-market over traditional outsourcing approaches. Critical success factors include having a clear strategy and governance model, managing relationships rather than transactions, and implementing measurements to manage complexity. Making multisourcing work requires visibility, coordination, and integration across partner boundaries.
Rob Jones, managing director of Peloton Partners, shares emerging pricing trends in the industry based on data from 70 advised firms across Australia, and strategies for advice practices to extract latent value out of their business.
Similar to Tp3remunerationprinciplesoct10 111023055600-phpapp02 (20)
The Evolution and Impact of OTT Platforms: A Deep Dive into the Future of Ent...ABHILASH DUTTA
This presentation provides a thorough examination of Over-the-Top (OTT) platforms, focusing on their development and substantial influence on the entertainment industry, with a particular emphasis on the Indian market.We begin with an introduction to OTT platforms, defining them as streaming services that deliver content directly over the internet, bypassing traditional broadcast channels. These platforms offer a variety of content, including movies, TV shows, and original productions, allowing users to access content on-demand across multiple devices.The historical context covers the early days of streaming, starting with Netflix's inception in 1997 as a DVD rental service and its transition to streaming in 2007. The presentation also highlights India's television journey, from the launch of Doordarshan in 1959 to the introduction of Direct-to-Home (DTH) satellite television in 2000, which expanded viewing choices and set the stage for the rise of OTT platforms like Big Flix, Ditto TV, Sony LIV, Hotstar, and Netflix. The business models of OTT platforms are explored in detail. Subscription Video on Demand (SVOD) models, exemplified by Netflix and Amazon Prime Video, offer unlimited content access for a monthly fee. Transactional Video on Demand (TVOD) models, like iTunes and Sky Box Office, allow users to pay for individual pieces of content. Advertising-Based Video on Demand (AVOD) models, such as YouTube and Facebook Watch, provide free content supported by advertisements. Hybrid models combine elements of SVOD and AVOD, offering flexibility to cater to diverse audience preferences.
Content acquisition strategies are also discussed, highlighting the dual approach of purchasing broadcasting rights for existing films and TV shows and investing in original content production. This section underscores the importance of a robust content library in attracting and retaining subscribers.The presentation addresses the challenges faced by OTT platforms, including the unpredictability of content acquisition and audience preferences. It emphasizes the difficulty of balancing content investment with returns in a competitive market, the high costs associated with marketing, and the need for continuous innovation and adaptation to stay relevant.
The impact of OTT platforms on the Bollywood film industry is significant. The competition for viewers has led to a decrease in cinema ticket sales, affecting the revenue of Bollywood films that traditionally rely on theatrical releases. Additionally, OTT platforms now pay less for film rights due to the uncertain success of films in cinemas.
Looking ahead, the future of OTT in India appears promising. The market is expected to grow by 20% annually, reaching a value of ₹1200 billion by the end of the decade. The increasing availability of affordable smartphones and internet access will drive this growth, making OTT platforms a primary source of entertainment for many viewers.
Structural Design Process: Step-by-Step Guide for BuildingsChandresh Chudasama
The structural design process is explained: Follow our step-by-step guide to understand building design intricacies and ensure structural integrity. Learn how to build wonderful buildings with the help of our detailed information. Learn how to create structures with durability and reliability and also gain insights on ways of managing structures.
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
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1. TrinityP3
Agency Remuneration
TrinityP3 Pty Ltd
October 2010
Commercial in Confidence
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2. Compensation or Remuneration?
Compensation: – noun
1. the act or state of compensating.
2. the state of being compensated.
3. something given or received as an equivalent for services, debt, loss,
injury, suffering, lack, etc.
Remuneration: – noun
1. the act of remunerating.
2. something that remunerates; reward; pay.
• Philosophically we prefer to call it Remuneration – to reward the agencies
and suppliers rather than making good for loss, injury and suffering.
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3. Moving from Input/Costs to Outcome/Value
• Most of the existing models are input / cost based that reward volume of
work and not effectiveness.
• The current best practice is to move to an output based / pricing model
that fixes the value based on output.
• The leading trend is for a value based remuneration model where the
reward is based on the value created or contributed.
• Therefore the global remuneration trend is summarised by:
Output / Outcome /
Input / Cost
Price Value
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4. Inputs vs Outputs vs Outcomes
Model Positives Negatives
Inputs / • Resource / Head hour • Simple to implement • Rewards increased
Costs based • Multiple points of volume rather than
• No direct link to volume negotiation including effectiveness
or scope of work salary cost, overhead • Based on head hours /
and profit timesheets which are
unreliable
Outputs / • Based on scope of • Values the output • Rewards increased
Price work / outputs / rather than the cost volume rather than
deliverables • Makes budgeting effectiveness
• Price agreed and set easier • Issues arise when work
on historical basis • Adjusting commissioned then
remuneration easier cancelled
Outcomes / • Based on the value • Links agency • Requires measurement
Value created by the activity remuneration to of marketing
• Either all or the bulk of outcomes / value effectiveness
remuneration / profit • Brings alignment • Difficult to get many
• More like profit sharing between suppliers agencies to agree on
than bonus and marketers if measures
correctly
implemented
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5. Principles of Remuneration
• It is generally accepted by the ANA and the AAAA in the US, the ISBA and
the IPA in the UK and the AANA and the Communications Council in
Australia, that agency remuneration agreements should be:
1. Simple to understand and easy to administer.
2. Fair to both advertiser and agency.
3. Aligning advertiser and agency interests and priorities.
4. Finalised before agency resources are committed.
5. Recorded in a ratified advertiser / agency contract.
6. Flexible enough to accommodate changes in the future.
7. Involving senior management stewardship, with principles clearly
communicated to the teams on both sides.
8. Capable of standing the test of time and being understood by any future
Marketing Director.
9. Based on agreed and understood terms and definitions.
10. Inclusive of specified tracking and review dates.
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6. Remuneration Models
• Most common remuneration models:
• Commission Service Fees
• Resource Package Fees (Retainer)
• Variable fees based on actual hours
• Project Fees
• Hybrids
• Less common remuneration models:
• Scale Fee Win Bonus
• Concept Fee
• Licensing Fees
• Other remuneration considerations:
• Production mark ups
• Payment by Results (PBR)
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7. Commission Service Fee
• Based on the traditional media commission paid by the media proprietor (10% or
11.1% mark up) and a service fee (7.5%) compounded to over 19% paid on all
external costs including production to cover the full service offering of Creative
concept, Media planning and buying.
• Continued to be used primarily in Media buying and to a less extent Media
planning remuneration.
• When used, is used in combination with other models such as project fees or
head hours.
Advantages Disadvantages
• Simple in the case of mainstream • Based on volume of Media spend,
advertising. not scope of work.
• Easy to calculate and administer. • Inappropriate were Media is not a
• Parties focused on quality not major component of the output such
cost. as DM or Digital.
• A crude form of PBR with a higher • Does not encourage Media neutral
Media spend leading to greater solutions.
agency earning. • Cancellations of spend has a severe
effect on agency income.
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8. Resource Package Fees (Retainers)
• Based on an agreed detailed scope of work and a resource plan for a defined
period, reflecting the workload requirement of the agency.
• Based on salary costs of the required number of people at a % of their annual
billable hours by an overhead factor and the agreed profit margin.
• Usually this base formula is agreed in the contract and only the scope of work
and the associated resource requirements are calculated and adjusted annually.
• Calculated annually and paid monthly.
• Most common remuneration model in the market.
Advantages Disadvantages
• Agency knows its income and can • Requires the scope of work to be
resource appropriately. accurately defined.
• Advertiser knows cost and can • Does not allow for major changes in
budget appropriately. scope of work with falls costing
• Encourages more Media neutral advertiser and rises costing agency.
solutions. • Input based and therefore less
accountable.
• Often time consuming to negotiate
and administer. 8
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9. Variable Fees based on Actual Hours
• Fees are based on actual time spent using an hourly charge out rate for
individual staff.
• Charge out rates calculated to cover staff salary, plus overhead factor and
agreed profit margin.
• Fee is paid after work is undertaken based on actual recorded hours.
• More common in marketing services contracts such as Sales Promotion, DM
and PR, rather than Creative agencies.
Advantages Disadvantages
• Relatively easy to administer, • Difficult for advertiser to budget.
provided agencies maintain
• Difficult for agency to resource.
accurate timesheets.
• Reflects advertiser needs and • Requires accurate time sheet
agency activity. process and requires audit in
• Allows flexibility should scope of disputes.
work changes. • Lack of accountability with no
• Allows agency return based on incentive for efficiency.
clearly defined process and actual
deliverables.
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10. Project Fees
• Project fees is an alternative to fixed annual fees, determined and paid on an
individual project basis.
• Often used for simply ad hoc projects, pre-agreed project fees can be paid either
on completion of the individual project or for projects completed in the month,
quarter or year.
• Used extensively for specialist services such as Direct Marketing, PR and Sales
Promotion.
Advantages Disadvantages
• Easy to control expenditure. • Inclined to encourage a short term
• Often used to top up retainers for focus rather than longer term
work outside the agreed scope. relationships.
• Reflects specific advertiser needs. • Agency does not have the same
• Suits integrated or niche services. level of confidence in remuneration
unless scope of work defined up
front.
• Tends to come at a higher cost
compared to the retainer.
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11. Hybrids
• Very few advertisers use any one of these remuneration models exclusively.
• There are a number of components in the services required including:
• Account management
• Strategy development
• Creative concept development
• Creative production supervision
• Production management
• Production
• Channel planning
• Media planning
• Media buying
• The application of the remuneration model needs to be defined across the
services included and excluded. Eg. Account Management and Strategy may
be retained, the Creative concept may be paid as a project fee, while the
Production may be paid based on hours.
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12. Less Common Models
Scale Fee Win Bonus
• Advertiser pays the agency a “salary” based on a fixed percentage of
either sales or annual marketing budget. Win Bonus is built into the
sales model with increases in sales leading to increased agency fees
and must be added as a more traditional PBR for the marketing budget
model.
Concept Fee
• One-off fee to cover the development of the Creative concept. Fee
based on the estimated value to the advertiser’s business and its
anticipated use in an agreed context over an agreed period of time.
Used where the work falls outside the current advertiser - agency
agreement or in ad hoc projects.
Licensing Fees
• The advertiser pays the agency a reduced concept development fee
and then agrees to pay a license fee for use of the concept once it has
been approved. Rather than the advertiser owning the rights, the
agency retains the rights. 12
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13. Production Cost Considerations
• “Mark up” versus “At net”
• Traditionally external Production costs were marked up under the
commission and service fee model. The majority of remuneration
agreements today have the external production costs at net.
• The increasing diversity of agency networks means that often agencies
have affiliate or subsidiary relationships with companies that may
superficially appear as external suppliers.
• Variable versus Fixed
• The market is split between the use of fixed cost rate cards and variable
head hour rate cards.
• Agencies typically prefer and encourage variable rate cards, but these
rely on proper and robust recording of head hours and reconciliation to
actual from the approved estimate.
• Increasingly the market is moving to fixed fee rate cards, especially in
situations of high volume, as they make it easier to budget, reduce
estimating time and do not require reconciliation of internal agency
resources.
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14. Performance Based Remuneration
• “Payment By Results” describes a service relationship in which some part of
any associated remuneration is contingent on results or other performance
assessment measured against pre-determined criteria.
• Benefits:
• Improved agency performance.
• Improved advertiser performance.
• Goal alignment and congruence.
• Types:
• Bonus - additional to the agreed profit margin.
• Cost recovery - represents all profit.
• Shared risk and reward - agency puts % of margin at risk and advertiser
meets that % in pool.
• Earn back - agency puts % of margin at risk to be paid in results.
• Combination - usually a mix of earn back and bonus.
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15. Performance Criteria
Business Performance (Hard)
• Examples include: sales, traffic, profit, market share, volume growth, etc.
These can be measured by the same criteria that the advertiser uses for
their internal bonus systems.
• Agency often claims that business results may not be within their ‘span of
control’ as many factors besides advertising can affect business outcomes.
Advertising Performance (Medium)
• Examples include: product awareness, ad awareness measures, consumer
measures, attitude ratings, persuasion, purchase intent, awards, brand
equity, image, effectiveness awards, etc.
• This kind of performance assessment is vulnerable to research technique,
statistical anomalies and discussions of creative ‘philosophy’.
Agency Performance (Soft)
• Relates to the evaluation of agency functional areas: account services,
creative and media in terms of: performance, service, relationship, cost
efficiencies, etc.
• This is highly subjective and may be affected by ‘entertainment’ on the
upside and personality problems on the downside.
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16. Performance Criteria
Business Performance Advertising Performance Agency Performance
• Sales Volume • Advertising Awareness • Agency Service
• Volume Growth • Brand Image Shifts delivery*
• Relative Brand • Attitude Ratings • Relationship
Performance • Ad enjoyment Management*
• Composite • Functional
• Brand personality
Performance competencies*
• Predisposition to buy
• Market/brand share • Contribution to
• Ad scores ‘branding’
• Customer loyalty • Persuasion index • Project management*
• Brand equity
• Brand profitability • Administration*
• Cost Efficiency*
• Pro-activity*
• Collaboration*
* Can be measured, managed and maximised using Evalu8ing. Find out more at www.evalu8ing.com
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17. Critical Success Factors
• PBR is not suitable for all client/agency relationships. Implementation
may not be possible or suitable for a number of reasons; however the
process of examination and discussion can still be very beneficial.
• There must be TRUST and mutual respect.
• There must be a fundamental acceptance of fairness and equity. PBR
is not a means to reduce agency revenue and margins. The agency needs
to be fairly remunerated and make a fair margin before PBR is considered.
• Consider the current client/agency relationship. PBR is not a
prescription for improving advertiser / agency relations (even though
relationships are said to improve under PBR).
• Be very clear on the objectives, measurement criteria and performance
standards that will determine the PBR bonus.
• Recognize that there may be some difficulties involved, particularly in
the early stages of implementation, the negotiation process can be
protracted and there can be disagreements on the risk/reward, measures,
objectives, methodology, size of the PBR pool, weighting, etc.
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18. Critical Success Factors
• Incorporate a mutual performance review to improve fundamentals for
both parties. Conduct the performance reviews frequently (every 3 - 6
months), particularly during the early adoption of PBR.
• Clearly establish roles and responsibilities for both partners, through
development, implementation and monitoring.
• Keep it simple - develop greater complexity as you move forward together
and increase learning.
• Start out with a lower level of PBR remuneration, then grow the
percentage over time.
• Establish ‘hard’, quantifiable measurement criteria to the extent
possible and control ‘soft’ qualitative measures.
• Give serious consideration to drawing down the PBR ‘pool’ as
frequently as possible.
• Continually refine and enhance the process, criteria, measurement,
weightings, etc.
• You will need greater communication, openness and transparency.
Training of the participants can be an important element in success. 18
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19. Critical Success Factors
• Provide protection against plan changes. The agency’s commitment to
deliver results is based on the expectation that the advertiser will execute
it’s plan in terms of media spending, product introductions, distribution
initiatives etc. If the advertiser wants to make unilateral changes to the
resources supporting the business, and if those resources are likely to have
a material effect on the agency’s ability to deliver results, then the PBR
scheme must be re-visited and modified.
• Incorporate the PBR agreement, criteria and measurement into the
agency contract and ensure that advertiser’s senior management are
aware and involved.
• Ensure there is top management sign-off at the advertiser and that the
accumulation of upside bonus monies and their payment are ‘in the budget’.
In schemes with ‘downside risk’, payment schedules should allow more
frequent payment as milestones are reached through the year – protecting
the agency’s cash flow consistent with performance.
• Consider using an independent, objective mediator to facilitate and
manage the process.
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20. For further information please contact…
TrinityP3 Pty Ltd
Sydney
+612 8399 0922
Melbourne
+613 9682 6800
London
+44 7880 910 064
Wellington
+64 21 515 650
Hong Kong
+852 3589 3095
Singapore
+65 6884 9149
people@trinityp3.com
www.trinityp3.com
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