Over the years we’ve observed a plethora of methods, theories and concoctions used to compensate the ad agency. These include project-based, retainer/fee-based, incentive systems and various other approaches. Although there’s really no one-size-fits-all answer, there does seem to be a trend among small to mid-size advertisers toward project-based compensation as opposed to retainers...

 

Great idea! Now, how does one go about finding the right partner without spending excessive amounts of time and money? For small and medium-size organizations that are not accustomed to agency review and selection processes—and not paying consultants for this purpose—such a task can be mind-boggling and a distraction from running the business...

 

Advertising agencies are generally pleased to receive RFPs from potential marketing partners. There are some RFPs, however, that cross the linemaking unreasonable and even illogical demands. 

Even though your intentions may be genuine, you need to consider an RFP from the agency’s perspective. Like any successful business, an agency must make a profit in order to survive. If you can’t quickly and clearly articulate why it’s worth an agency’s investment of time and resources, which can be considerable, then your RFP may be doomed to a lackluster response. 

Granted, some agencies may respond no matter how unreasonable the request. Recessionary pressures have created the perception that ad agencies will do anything to win your business. And yes, some of them will. The question you should ask yourself is whether these are agencies you’d ultimately want as a marketing partner. If an agency is that desperate to win business, it may lack the bona fide credentials to attract business based on its own merits. 

If you want to partner with a successful, well-respected agency, give them good reasons to want to do business with you. Here’s what they will likely be looking for as they assess your RFP...

 

Posted
AuthorPeak Biety

1.   Provide clear direction.

Studies show that a high percentage of problem projects start with inadequate briefings. A lack of candor may factor in, too. Are you spending enough time preparing information? Or, do you just wing it and hope they’ll “get it”? Don’t trust this all-important task to an inexperienced junior. You can’t expect a great outcome if you don’t start with thoughtful, well-organized input.

2.   Make sure all responsible parties agree on the direction.

 All too often, an agency receives direction from one group in the company only to find out later that others (often senior management) have something totally different in mind. Such a scenario not only wastes your valuable time and money, it dampens the spirits of those who’ve labored under misguided direction.

Posted
AuthorPeak Biety
CategoriesAdSpeak