Are Media Agencies taking Advantage of you? – A Marketing Procurement Breakfast at The Gherkin

Posted by on Nov 28, 2012 in Costing, Marketing, Media, News, wasted spend

We’ve just held another of our Networking Events which focus on current trends and topics of the marketing and marketing procurement world. This particular event was a breakfast round table discussion focusing on Media Agencies and the transparency in billing with particular reference to unbilled media and rebates. We held this breakfast in a private dining room on the 32nd floor at The Gherkin which proved to have, as expected, great views of a surprisingly sunny morning in central London. This was also the first visit for many of the attendees so a fair few photos were taken which brought out the tourist in all of us. This event featured special guests Adrian Jenkins, a forensic accounting expert and Eduardo Salazar, a marketing effectiveness and analytics expect to shed some light on these areas of potential savings and inefficiency. We assembled senior marketing, marketing procurement and financial representatives from major organisations from FMCG, Fashion, Food & Drink and Finance industries to join the experts to share information, experiences, concerns and even some horror stories regarding this hot topic. The attendees were able to voice their opinion with other like-minded professionals, providing highly insightful and interesting discussions and debates. We found that these problems and issues are not unique to any one company size...

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How Old is your Marketing?

Posted by on Jul 27, 2012 in Marketing

Age segmentation used to be a fairly simple process with clearly defined limits representing the changing attitudes, abilities, desires and dependants in a person’s life. For example the 18-24 yrs bracket targeted the newly employed, single or romantically engaged, student or gap year young person with anyone over that a serious, working, house owning adult but is this still the case? Phones4U is rolled out a £5.2m integrated horror-themed marketing campaign; its biggest ever pre-Christmas media spend, with the tagline “Missing Our Deals Will Haunt You”. This marks a shift from their 18-24-year-old segment to include up to 34yr-olds and therefore hoping to appeal to the Xbox gamer and those who still remember the classic horror films. This will not only increase their target audience but has aligned itself with the modern world and the changing of economic statuses among the young and not so young. Over the past 15 years or so there has been a massive increase in students taking gap years either before or after university to travel the world in what ends up being a year of cultural enlightenment for some or an excuse to drink and party every day for others. This, along with increasing house prices and student debts, meant that the young professionals were taking...

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Integrated Agencies: Will they one day rule the World?

Posted by on Jul 27, 2012 in Marketing

Inherently, integrated agencies offer the most comprehensive set of services and will fundamentally be the best one-stop-shop for all of your needs but is that a good thing?? I want to find out whether the creation of these fully integrated agencies are having a negative impact on the industry, what the clients are thinking and whether the clients are actually benefiting more from one fully integrated agency (FIA). You may have seen recently that the Publicis Groupe merged Kittcatt Nohr, a specialist in direct marketing, with Digitas in order to tap into their expertise in digital interactive engagement and CRM management to create a robust, full-service offering. This got me thinking because, even though the FIA will be able to offer you a complete package, this doesn’t mean it will be a cheaper and better quality service offering. Economies of scale suggests that this should certainly be the case for pricing and the larger agencies should in theory offer better quality services through attracting higher quality personnel but as we know with agencies, this is not always the case. Project costs can actually increase as the channels lengthen and more employees get involved in each of the activities, all of who end up taking a cut for their two...

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Activity Based Costing- How do you put a price on Creativity?

Posted by on Jul 27, 2012 in Costing, Return on Investment (ROI)

As I’m sure you’re aware, we’ve had a number of dinners over the past few years focusing on various marketing and marketing procurement topics with the most recent, on Activity Based Costing. This started me blogging on this issue and after speaking with various representatives from market leading companies and a bit of market research; I found that there are vast quantities of theory behind the issue but relatively little practical evidence. The majority of these companies looked at ABC many years ago when it suddenly became popular but quickly abandoned the process after either struggling to implement the system or failing to achieve substantial returns. We found that its original purpose was focused on the financial side and therefore only relative for the accounting characteristics however we prefer to look at it as having 2 or 3 objectives. One obviously being the ability to accurately account for individual agency activities but the secondary and tertiary elements focus on increasing efficiency of these activities through driving out wastage, decreasing costs, improving agency relationships and build effective partnerships. I have spoken about the benefits and costs of implementing and maintaining ABC in recent blogs but I want to talk about one area that, if ABC is to succeed, requires extra...

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Miscommunication- Slogan mean much? (Power to the Slogan…)

Posted by on Jul 27, 2012 in Marketing

The use of slogans in advertising and marketing has been around since the development of printing but can also be said to be older due to the use of the spoken word which was has been used since creation to name and describe everyday objects. I however, will be looking at it from a modern day advertising and marketing tool perspective as slogans make it even more possible to differentiate between brands and products, adding to the overall competitiveness simply because of the way consumers remember everyday sights and sounds. We find a catchy slogan/strapline/phrase much easier to remember than a description of some sort and when that slogan is associated to a product or brand, it can be used as a powerful tool for winning customers, increasing brand awareness, creating brand loyalty and establishing brand quality.   Some of the most iconic slogans such as ‘Just Do It’- Nike Inc. (1988) and ‘Diamonds are Forever’- DeBeer’s (1947), have stood the test of time and remain to this day as an easily recognisable representation for that company and have been mimicked in jokes, used in films, on t-shirts as well as representing the company’s/product’s ethos and vision. I would like to look at briefly, how to come up with...

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