We have a long history of working with companies to help find the right agency partner and ensuring that partnership results in the desired growth. Regardless of the reason, the process of finding a new marketing or advertising partner can become overwhelming. We can guide you through the process to make sure you end with a partnership that is effective, and more importantly, will last.
AGENCY SEARCH & RELATIONSHIP MANAGEMENT
The selection process during an agency review is a two-way street. The company needs to find a partner they can trust and rely on to deliver. But at the same time, the agency has to determine if this is an opportunity worth pursuing. To be successful, there are several questions that must be resolved:
What are the reasons for the review? Who are the current agency partners and what is their expected role / participation in the review? Why should an agency want to work with you? Which parts of your organization will the agency be supporting?
What are the core functions the agency is providing? What is the expectation regarding staffing? Is the budgeted fee enough to allow the agency to meet the requirements of the proposed scope?
What is the internal decision-making process for selecting a new agency partner? Who is on the selection team and what are their roles?
What is the desired approach to the selection process? Is a speculative assignment required? If so, how is that assignment defined and what information will be made available to the agencies?
What are the key criteria that will define a successful agency? What areas of expertise do they need to have? Are there any geographic constraints? What potential conflicts should be avoided?
What information do you want to collect during the RFI process to help screen potential agencies? What type of case studies are most relevant? What insights do you want the agency to share regarding the current challenge? What do you want to see presented during the credential meetings? How will that differ during the final selection phase?
What fee structure will be in place for the new relationship? What are the drivers of the fees (e.g., staffing, deliverables, commissions, hourly, etc.)? How does the compensation differ based on the scope of work? Will there be any incentive compensation in place?
What is the final scope of work that will be incorporated in the contract? How will you handle terms and conditions that are specific to the agency?
How can you best ensure success with your new agency partner? What is the transition process from the current agency? What is the internal structure in place to support the agency onboarding?
What is the process and cadence for ongoing monitoring of the agency/client relationship? How do you stay in front of small concerns, so they don’t become bigger issues? How will you manage issues related to fees and agency scope during the year as well as at the time of renewal?