Morgan Anderson 360: 8 New Steps to Marketing Communications Stewardship

In this short paper we describe 8 Steps to more efficient, effective, and transparent marketing communications investment and agency relationships. Most are recent innovations and an outgrowth of our current work with exceptional clients. Each of the 8 Steps impacts the bottom line, especially when done together. Some clients refer to them as MorganAnderson360.

Step 1: A Best-Practice Scope of Work. A best-practice Agency Scope of Work (SOW) is one both detailed and codified in terms of deliverables, complexity, and rework rate, which enables benchmarking against best-in-class standards. Although SOW has been around since MorganAnderson pioneered it some 20 years ago, only recently has it been given the context of metrics and measurement that now makes it a Key Performance Indicator for agency efficiency and effectiveness. A MorganAnderson “First”.

Step 2: Benchmarking Agency FTEs To Client Scope. New methodologies now enable benchmarking an agency’s FTEs for the client’s Scope of Work and comparing to best practices. This methodology is credible with agencies because it independently reveals genuine facts. A MorganAnderson “First.”

Step 3: Performance Management Process. This represents identifying and correcting those client-agency processes and work practices that impair efficiency and effectiveness. 80% of inefficiencies are client-driven, making the client the best place to begin as well as including the agency so perception gaps can be identified and corrected. A MorganAnderson “First”.

Step 4: Right Metrics For Measuring The Agency Relationship. Identifying and integrating the right metrics for measuring the agency relationship is also a Key Performance Indicator to efficiency and effectiveness. These can now be integrated with marketing measurement dashboards and scorecards and the subject of a forthcoming journal article. A MorganAnderson “First”.

Step 5: “On-Boarding” For Better Performance. A facilitated “on-boarding” process makes certain that both client and agency truly agree on the same priorities, plans, and understandings. The on-boarding process ensures documentation, measurement, and monitoring of the achievement of client goals. Communications and process management are at the heart of the process. An irony is that the longer an agency relationship has existed, the more necessary is this process. It is also a great way to kickoff a new agency relationship. A MorganAnderson “First”.

Step 6: Robust Performance Incentives. Robust agency performance indicators are now critical to both clients and agencies. Most indicators are not innovative and only partially successful. The “best” indicators link agency evaluation, performance, accountability, risk/reward, and the health of the client-agency relationship. This is a next step towards “value” compensation.

And Lest We Not Forget:

Step 7: Media Assessment & Audit. Undertaking an independent best-practice media assessment and audit illuminates and ensures that you are getting a) the best competitive media strategy/planning and buying, and b) that your buys are marketplace competitive. Digital/Traditional Media often represent 80% of the advertising investment. Events, Promotions, DM, CRM, and PR need serious consideration as well. Independent analytics and opinions can add insight and value on these important investment issues for modest cost.

Step 8: Contract Assessment & Audit. Undertaking a best-practice contract assessment and compliance audit ensures the contract is stewardship-based, transparent, and has the analytics embedded to help improve financial performance.

Comments are closed.