All marketers need to understand the implications of this unacceptable accounting practice and identify how much it is costing. The value identified through a simple invoice review can uncover tens of thousands of dollars of your media spend. Media Suspense Account – What is it Unreconciled credits, the difference between what the client has paid and what the media company has invoiced, are put into a ‘media suspense’ aka ‘media hold’ account. Newspapers, TV stations, outdoor companies don’t always get their invoicing 100% correct. Not all spots will appear as planned on a TV Network, A newspaper may place your ad correctly as booked on page…
US online publication MediaPost recently provided a great article entitled “Media Agencies’ $25B Bounty For Change” (Tom Goodwin, MediaPost, 05.06.15) that outlines how the media industry is changing in light of new technology and consumer behaviour, and articulates why some media agencies are struggling to keep pace with the new dynamic marketplace. Is your agency able to anticipate and solve the problems of tomorrow? Enth Degree can help you ask the tough questions to ensure your suppliers are poised to deliver best in class service and provide ultimate ROI. Call us to find out more. Read the full MediaPost article here.
How would you define “red tape”? One description is the “bureaucratic practice of hair splitting or foot dragging, blamed by its practitioners on the system that forces them to follow prescribed procedures to the letter”. The term has been incorrectly used more recently when the industry discusses the ever increasing role of procurement in the selection of marketing services providers. It is becoming a common label to challenge the activities of procurement and compliance services as a barrier to achieving client objectives. However, what is the risk of cutting the “red tape”? There are real cost implications in taking short cuts to due process. The involvement of…
Decoupling production is not a new concept in marketing circles. Historically, the view was that clients could control cost, service levels and output by forming independent relationships with production partners, outside the control of their “master” or lead creative agency. This model allowed the lead agency to control strategy, creative platform and concept, while the production agency focused on the “churn and burn” pieces. It was the original “conscious uncoupling.”
DSPs (Demand Side Platforms) are automated booking software systems for the purchase of online ad space/inventory. They are automated campaign tracking processes. There are many positives: access to a significant amount of centralised online inventory, managing multiple messages and using a wealth of consumer data (with a question mark over data ownership) – all to find your consumer in the digital haystack. But this black box comes with its own mysteries.
“We sourced the best price for you”… “We’ll provide you with a reconciliation of resources used”… “We’re losing money on this”… Sound familiar? These are some of the more common phrases we’ve heard from agency folk recently, via their clients. Designed to make marketers feel comfortable with the agency investment, they don’t always represent the truth. This is why consultants like us are called in for benchmarking, compliance, and value review services.
When asked what differentiates Enth Degree recently, the response required no delay…”unashamedly client focussed”. Someone needs to be, because it seems this simple business ethic is lost on many of marketers’ communication “suppliers”. While in industry circles it is more acceptable to refer to agencies – be they creative, media or other – as a client’s partner, this is a relationship based on trust and earned over time.
Performance reviews… Why do marketers implement and adhere to a performance review program for their staff? Obviously because it allows staff and managers to re-group, and ensure they’re on the right track in terms of KPI’s, marketing goals, and ultimately the business plan. Given the meaningfulness of such reviews, why is it that some marketers don’t see the inherent need to apply a similar review program with their marketing suppliers?
After weeks of negotiations followed by a handshake or email agreement between partners, we are finding lately that some agencies do not want to put pen to paper to formalise the client relationship. In the last few years Enth Degree has assisted in the appointment of numerous agencies, across all disciplines, to partner with and service our clients’ marketing needs. One thing that has become more common over the last 12 months, is that a number of agencies are becoming increasingly wary of signing Service Level Agreements (SLAs), that contain not only commercial terms but process and intellectual property based clauses. So after the champagne corks have long…
AdNews recently published an article with the headline “Discounting: Can the pants be pulled back up or are agencies all too exposed?” The article concerned a media agency who supposedly offered an “unheard of” discount of 92% on television rates in order to win a recent pitch. While of course the size of the discount cannot be believed, the rumour could be simply explained as one of two things: