Thursday, November 13, 2008

The Infamous “Bait and Switch.”

“Bait and Switch” is an old term, used by both agencies and clients, for people that show up to the new business meeting and somehow fade into the distance once the assignment is awarded. Let’s face it. Every client wants to feel important on the agency roster. The agency wants the same respect in return. Asking the agency during the review process to review the team that will be working on the account is a fair question.

Please take into consideration that an agency is a business too, so the owner/principal/CEO also has to conduct normal business management, vision, training, recruitment, forecasting, board management, etc. It is important that he/she be involved in the new business part of the process, but please do not think that they are going run your account unless they are a really small shop where time can be devoted to such activities. Small, in our definition, is about 10 people or less. If the principal spends all his or her time running accounts, one would have to ask if the company would ever grow given the outlined model.

Agencies would also ask that your CEO be involved too. Is your principle going to be involved in the decision making process of the agency review?

A growing agency CEO should be allocating about 30% of his time to accounts. Factor how many accounts are in his or her shop. You may be surprised to learn that he/she may only allocate 1-2% of total time to your account. But that 1% may be critical to ensuring that the team is focused, motivated and provide that nugget of insight to help make a good idea great. Typically, agencies are structured as part service, part strategy, part creative and part execution. Please think through the % of required time by each level based on the assignment at hand. Take into consideration if your assignment is tactical by nature, or strategic. Don’t put undue pressure to have a very senior person working on a tactical project. Not only will it cost you more, but it doesn’t necessarily add value to the work needed.

Asking the right questions upfront can avoid the perception of a “Bait And Switch” later.

  • Should the incumbent be in the review?
  • Can referrals skew the outcome?
  • Is my budget too big or too small?
  • Is there potential for culture clash between my organization and the agency?
  • Who owns the Intellectual Property?
  • What are the costs for a traditional review?
  • What are the costs associated with a review?
  • Why the same % of agencies are invited by agency review consultants?
  • How long does the traditional review process take?


Marketing Matchup can help you find the right marketing firm for your needs. You can search by agency size, location, industry experience, marketing services provided and past creative work. If you have a marketing project in mind, sign up for a free client membership and post your project to be automatically matched with the right agencies.

Already working on a marketing project or a campaign? We have compiled a set of marketing tools that can help both clients and agencies plan and execute your next marketing project or campaign.


Saturday, November 1, 2008

Featured Agency Lists

Marketing Matchup wants to help you find the perfect marketing firm, from small boutique to large multi-nationals, whether you are conducting an agency review or assigning a marketing project.

Featured Agency By Region

New England

Mid-Atlantic

Southeast

Southern

Midwest

West Coast

Pacific Northwest


Featured Agency By Industry

Fashion & Apparel

Multicultural

Luxury Goods

Travel & Tourism

Healthcare

Financial Services


Business-to-Business

Marketing Matchup can help you find the right marketing firm for your needs. You can search by agency size, location, industry experience, marketing services provided and past creative work. If you have a marketing project in mind, sign up for a free client membership and post your project to be automatically matched with the right agencies.

Already working on a marketing project or a campaign? We have compiled a set of marketing tools that can help both clients and agencies plan and execute your next marketing project or campaign.


Marketing Tools

Whether you are a client or an agency, the list of tools below can help you plan and execute your next marketing campaign.

Getting Started:
Project Kickoff Questions - Thinking about a marketing campaign but don't know where to start? This document will help you answer the right questions before starting. Whether you are an agency or a client, it helps to fully understand all facets of your marketing needs.

Strategy:
Account Planning Checklist - This checklist was designed to help account executives and creative work together to assess a clients needs. Use this document as a starting point to focus your agency's efforts.

Media Planning Checklist - Assess your target market to determine the best media mix.

Project Time Line Template - Sample project time line. Use this as a starting point to setup the project management efforts of your next campaign.

Creative:
Creative Brief - What is the brand promise? Who is the target audience? This document will help in forming the creative brief.

Print Spec Order Form - Use this template to set up a print order for your next project.


Marketing Matchup can help you find the right marketing firm for your needs. You can search by agency size, location, industry experience, marketing services provided and past creative work. If you have a marketing project in mind, sign up for a free client membership and post your project to be automatically matched with the right agencies.

List of Agency Review Consultants

Hiring an agency review consultant is expensive. The average agency review, for both the client and agency, can run in the aggregate of about $750,000. Keep reading for a thorough explanation of why it is so expensive. If this price tag seems a bit too much then check out Marketing Matchup, we can help you find a marketing firm for free, and get a match in less than 5 business days.

According to Forrester Research, just completing the first stage of an RFI can cost an interactive agency as much as $17,000 in human capital costs. In addition, many review consultants require custom videos to be created and submitted with case studies that align along the client’s criteria. Let’s estimate an additional $10,000-$15,000 for producing, editing and duplicating these materials. In a review where 10-12 agencies are invited to the first stage, the aggregate cost is estimated at $270K-$384K – just for the first step of the process!

For agencies lucky enough to make it to the final round of the review, they can expect spec costs averaging around $100K per agency. Typically, three agencies are invited to the final round, so that is another $300K for the review consultants. Clients can expect to pay fees ranging from $25K, for a rapid review, to amounts as high as $250K. At the end of the day the client has found an agency, but at a cost that could be as high as $750k for the entire process!

Keep in mind that not a dollar has yet been spent on branding, sales, marketing – anything to generate an actual lead. As mentioned earlier, review consultants can help guide an inexperienced client through the process of hiring an agency. Or, a client could spend the money on hiring a consulting firm, like ViBrand Consulting, who can tell you how to sell smarter.

If this price tag seems a bit too much then check out Marketing Matchup, we can help you find a marketing firm for free.

If you are still interested in hiring a review consultant, we have provided a list below with links to some of the top review consultants in the world:


Agency Review Consultants

United States
AAR Partners - New York, NY
ADvice and Advisors - New York, NY
Ark Advisors - New York, NY
Arquent Consulting - New York, NY
Bob Wolf Partners - Santa Monica, Ca
Joanne Davis Consulting - New York, NY
Jones Lundin Beals - Chicago, IL
Morgan Anderson Consulting - New York, NY
Pile & Co. - Boston, MA
Roth Associates - New York, NY
Select Resources International - Santa Monica, CA
The Bedford Group - Atlanata, GA

Europe
AAR gmbh - Dusseldorf, Germany
Agency Assessments Int - London, UK
Consultores de Publicidad - Madrid, Spain
Gibory Consultant - Paris, France
ISBA - London, UK
Registr Reklamnich Agentur - Prague, Czech Republic
Scan Management Consultants - Amsterdam, Netherlands
The Observatory - London, UK
VT Scan - Paris, France

Asia/Pacific
Agency Register - Sidney, Autralia
R3 Asia Pacific - Beijing, China

Latin America
Sales, Periscinoto, Guerreiro & Associates - Sao Paulo, Brazil


Marketing Matchup can help you find the right marketing firm for your needs. You can search by agency size, location, industry experience, marketing services provided and past creative work. If you have a marketing project in mind, sign up for a free client membership and post your project to be automatically matched with the right agencies.

Already working on a marketing project or a campaign? We have compiled a set of marketing tools that can help both clients and agencies plan and execute your next marketing project or campaign.