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1、An R3 Reportovercoming the fear factor in agency reviewsStrong relationships vs fear of changeThe decision to stay with an incumbent agency can be the result of a confirmation at the end of a pitch process that the incumbent is truly the best partner for the business.This is a sign of a long-lasting
2、 relationship that stands the test of time.The partnership works and the pitch process is a way to review and improve overall strategy,ways-of-working,and compensation models,However,the choice to stick with the incumbent can also be the result of a crisis in confidence.In the middle of the pitch pr
3、ocess,reality sinks in for stakeholders that they must leave the comfort of the familiar.They find they are uneasy with the idea of being ushered into a new and uncertain era by a new partner.How can marketers recognize if their decision-making during the pitch process is influence by confidence in
4、their partnership or a fear of change?In this report,we will look at the gaps that exist in stakeholder expectations and how decision-makers can manage their inclinations towards comfort and feelings of uncertainty during the pitch process.Significant changes within a marketing organization can sign
5、al that a company is preparing to go on the offensive.It could be the result of encroaching competitors,a dynamic shift in the marketing landscape (e.g.,a focus on DTC and social commerce),or the result of changes within the brand itself.Some of the worlds biggest brands have recently consolidated b
6、usiness units,shifted their investment in media spend,and announced a focus on building new retail channels and reaching untapped audiences.Such change inevitably has an impact across capability and functional support for marketing activities.An internal reorganization might be called,and key stakeh
7、olders wonder if their current agency support system will be able to keep up with all the change thats going on.At this stage,it is easy to get everyone in the team to agree that an agency pitch is needed.However,close to half of pitch outcomes end with incumbent agencies keeping the account-which b
8、egs the question of“What is stopping marketers from changing agency partners?”3Common reasons for conducting an agency pitchReasons for pitchingCAPABILITY DRIVENNEEDS DRIVENPEOPLE DRIVENOTHER REASONS The incumbent agency is not able to meet the clients service requirements(e.g.,failure to correct un
9、favorable performance measures,inability to deliver an effective creative product,perceived lack of necessary skills sets or disciplines).Critical constituencies-such as client senior management,dealers,licensees,venture partners-feel that the current agency does not meet business requirements.A new
10、 marketing initiative is undertaken that requires capabilities not provided by the existing agency.For example,a marketer plans a new direct response program,but the incumbent agency does not have those capabilities.A marketer that has handled its advertising/communications needs in-house determines
11、 that it requires external agency resources.Strategic disagreements between a client and its agency on fundamental business or brand issues;the client and agency are at an impasse on basic strategic direction.A start-up company or venture requires an agency that is more agile.A new enterprise is for
12、med or the client develops a new product or service that the current agency is ill-equipped to handle.There are fundamental concerns with the agency team members and their lack of“chemistry”with the client;the partnership is a marriage thats gone sour and is viewed to be irreparable.A new CMO wants
13、to make a statement with a new agency.High talent turnover causes a decline in work quality and marketers find they are being served by talent of lower caliber;a lack of chemistry with new account leads.An account conflict emerges based on a merger involving the marketer or the agency.The company re
14、locates its offices or restructures its footprint and desires an agency that can be in geographic proximity.The current agency goes out of business or closes an office.DRIVING TRANSFORMATION FOR MARKETERS&THEIR AGENCIES4The motivation to pivot is felt by top stakeholders who feel that new partnershi
15、ps are essential for greater creativity,innovation and return on investment.This feeling is often not shared by the working teams who shape much of the evaluations in a pitch process.C-suite leaders and marketers on global and regional teams can clearly see gaps with the current agency relationship
16、from the perspective of business performance and competitiveness.Working teams will more likely give a favorable score to the incumbent agency because they are comfortable with the relationships they have cultivated over time-even if these relationships are not productive and difficult.From the star
17、t of the pitch process,senior stakeholders should instill confidence in the working teams that the relationships they have with agency partners can be better.This can happen either by evaluating the relationship through an objective lens provided by a third-party,or changing the partners they work w
18、ith.Senior stakeholders should always communicate that the intention of an agency review is not only driven by topline vision,but its also an effort to improve the day-to-day workings for local and regional teams.Decision-makers want Confidence,Team Wants a Comfortable Relationshipcpg brandLess Tran
19、sformationChallengeA CPG brand was looking for a new agency partner to handle creative duties for their largest food and beverage brands.The scope included strategic and tactical creative execution for offline and online campaigns.OutcomePart of the brands brief was to find a more strategic and tran
20、sformative creative agency.At the end of the pitch process,this intent changed.Stakeholders were not as comfortable with the big ideas being proposed,and opted to stay with a traditional agency partner.ChallengeA consumer electronics brand was looking for a new agency partner to manage digital dutie
21、s,which includes corporate marketing strategy,brand stewardship,campaign ideation,and the development of online store content.OutcomeThe pitch brief asked all participating agencies to provide an extensive set of case studies.The client ended up selecting their existing roster of agencies.It wouldve
22、 been more productive if a closed-pitch process was employed.electronics brandPitching for An Incumbent5OVERCOMING THE FEAR FACTOR IN AGENCY REVIEWS Things to Look For Having a solid strategy to reflect what they know of the market and how their clients business can fit better in that market.The mat
23、urity to empathize with business realities and limitations,and offering support.Boldness in challenging clients existing thinking and suggesting viable alternatives.Taking a more conservative strategy and expressing it with simplicity and empathy.Watch Outs Spending a lot of time on people;good rela
24、tionships is half the work.A confident agency can be mistaken as arrogant when their confidence is placed on things they are most comfortable with,e.g.their own frameworks or the way they arrive at insights.Announcing they have systems in place but not demonstrating how these systems are applied dur
25、ing the pitch presentation.Things to Look For Evaluating an agencys content in the context of the brief,instead of using the occasion to express their personal opinion about the pitch situation.The opportunity for individuals in the team to express personal views even though ones evaluation is diffe
26、rent from the others.The ability to formulate and envision a longer-term view when deciding on agency,and the ability to refer to this original reason as the reason for the pitch.Honestly admittting if cost-reduction is a reason for running a pitch.Watch Outs Placing over-importance on brand strateg
27、y during the needs assessment stage and treating an agencys responses as stimulus for strategic conversation.Treating a pitch presentation as an agencys final thinking;this activity is not the same as evaluating day-to-day agency project presentations.what builds confidence&nurtures comfort during a
28、 pitch?AGENCYCLIENTDRIVING TRANSFORMATION FOR MARKETERS&THEIR AGENCIES6balancing comfort with ConfidenceThe difference between comfort and confidence is often a matter of attitude.Agencies who can bring brands into the future tend to communicate bold,“out-of-the-box”thinking,which can sometimes make
29、 clients uncomfortable.This is often discovered during the pitch presentation stage.Agencies attempt to distinguish themselves from competitors by pushing the boundaries.Then there are agencies whose expertise is in creating a familiar,cozy chemistry.By choosing an agency that presents new ideas and
30、 recommendations that are outside what the brand is used to,clients expose themselves to the risk of failing.On the flipside,an agency partner who never changes their approach or challenges the client is not a better option.Growth stagnates,bad habits continue,and clients risk losing their competiti
31、ve edge.Finding a middle ground is not easy but neither is it impossible.Creating awareness of potential bias early in the pitch process and proactively managing expectations can help mitigate fear from influencing the final decision.Steps Marketers Need to TakeUse descriptive and accurate statement
32、s in the evaluation scoring.Confidence can be the result of the ability of an agency to empathize with what is not said in the brief,and reflecting it on their proposed solution(strategy,process,team structure).This will be naturally expressed as relatable by the client.Any scoring weightage during
33、an agency evaluation should consider the importance of“non-negotiables”or“must-haves”in the team.What sort of agency culture would fit the client?Agency credentials and culture are non-differentiating elements of the pitch,yet very important in the final presentation.The transition plan is important
34、.It is key that client and agency create ONE language at the beginning of any relationship.Co-creating a brand playbook at the transition phase will create strong bonds between the marketing team and agency.1237OVERCOMING THE FEAR FACTOR IN AGENCY REVIEWSHOW R3 CAN HELPLike an executive recruitment
35、consultant helping you find new staff,R3s Review process helps you reduce risk and maximize the value of your new agency hire.We leverage our latest agency market insights and benchmarks for fees to conduct a thorough and efficient search process.Our objective is to create a long-term,mutually profi
36、table partnership of talent that will drive brand and business growth.Agency ReviewA successful client-agency relationship is one in which both goals and expectations are aligned.That relationship requires periodic checks to make sure both parties are still aligned and to rectify any issues promptly
37、 to ensure continuous improvement.It is important that a sound compensation structure is in place one that works to align expectations through set Key Performance Indicators and Performance Based Remuneration.Regular updates to share feedback and expectations allow agencies to be informed of their p
38、erformance at an early stage so that improvements can be made accordingly.Agency RemunerationFinding someone to wed is never as challenging as keeping the marriage intact year after year it requires work.Our Relationship Management tools differ from most in-house or self-administered tools in that t
39、hey focus on the future,not the past to ensure the right expectations can be set.Agency RelationshipsCAPE our proprietary online Client Agency Performance Evaluation tool is designed to provide complete feedback and diagnostics on the relationship.CAPE has already been extensively implemented with m
40、ultinational and government marketers.Through this,we now have global benchmarks to compare relationships,usually supplemented with face-to-face consulting.DRIVING TRANSFORMATION FOR MARKETERS&THEIR AGENCIES8About R3What we doWe are an independent transformation consultancy hired by CMOs to make the
41、ir marketing more measurable and accountable to business impact.How we do itOUR REASON FOR BEINGIn a word,we are about transformation.R3 was established in 2002 in response to an increasing need from marketers to enhance their return on marketing,media and agency investments,and to improve efficienc
42、y and effectiveness.We want to help CMOs make marketing accountable.OUR BACKGROUNDWeve worked with more than one hundred companies on global,regional and local assignments to drive efficiency and effectiveness.We have talent based in the US,Asia Pacific and Europe and partners in LATAM and Africa.Th
43、rough global work for Samsung,Coca-Cola,Johnson&Johnson,Visa,Unilever,and others,we have developed robust benchmarks and process targets for more than 70 countries.We invest in the best talent,bringing in senior leaders from marketing,agency and analytic backgrounds.Were independent.Because were not
44、 your marketing team or agencies,were empowered to be honest and transparent.We use external benchmarks.We have proprietary data pools to inform our in-depth analysis.Since 2002,weve interviewed more than 2,000 marketers about their agency relations.Since 2006,weve spoken to more than 80,000 consume
45、rs in Chinas top-twenty cities and continue to do so every three months.We have co-developed software to measure agency and media performance.Each month,we exclusively track over 500 agency new business wins,as well as 100s of deals in the marketing M&A space.We have insight into global best practic
46、e.We work with companies who want to do best-in-class marketing across diverse categories and geographies.We authored the book“Global CMO”about marketers leading Digital Transformation around the world.We maintain an ongoing database of media costs for key markets.RETURN ON AGENCIESWe help marketers
47、 find,pay and keep the best possible agency relationships covering Creative,Media,PR,Digital,Social,Performance,Event,Promotions and CRM.We take the lead on improving the Integration process through proprietary software and consulting.RETURN ON MEDIAWe offer professional analysis of the media proces
48、s,planning and buying with proprietary benchmarks and tools to set and measureperformance.We conduct financial audits to validate and benchmark transparency.Using a bespoke and proprietary methodology,we help benchmark and provide insights into how your digital strategies perform in your category an
49、d across categories.Driving Transformation for Marketers and Their AgenciesRETURN ON investment9OVERCOMING THE FEAR FACTOR IN AGENCY REVIEWSBeijingA1906,Chaowai SOHONo.6B Chaowai StreetChaoyang DistrictBeijing 100020,ChinaT+8610 5900 4733F+8610 5900 4732Hong Kong23/F,One Island East18 Westlands Road
50、Hong KongT+852 3750 7980ShanghaiRoom 802,80 North Shaanxi RoadJing An DistrictShanghai,PRC,200041T+8621 6212 2310Singapore1 Keong Saik RoadSingapore 089109T+65 6805 4050Asia PacificContact W MediaSydneyLevel 26,1 Bligh StreetSydney,NSW 2000New York79 Madison Ave8th FloorNew York,NY 10016T+1 646 416 8088North AmericaLondon68-80 Hanbury St,London E1 5JLT T+44 20 7998 9588EuropeJakartaWeWork Revenue Tower 25-107 Jl.Jend.Sudirman Kav.52-53 Kebayoran Baru Revenue Tower-District 8 SCBD,Jakarta Selatan 12190