In Forbes today a survey conducted by a marketing consulting
firm tells us that advertisers continue to be frustrated with their agencies.
A client of ours asked me today what I think the cause is.
It starts with money. But it comes down to one thing: Trust.
Why does it start with money? Because of our flailing economy, there’s just
less of it to go around.
When there’s less money to go around, that goes double for
marketing, as companies look to maximize resources in ways that can show better proof of spend, like sales, supply chain, and finance.
Because there’s less money to go around, margins are
thinner.
Because margins are thinner, the level of fear is
exponentially increased. Every decision
is scrutinized and questioned.
And when fear goes up, trust goes the opposite way. And
trust is everything when it comes to partnership and collaboration.
The symptoms are numerous:
Clients may feel that agencies don’t make their business a high enough
priority or put their best people on it; they may feel like they’re paying too
much money or not getting enough value.
Or they just might not feel like they’re getting the
strategic and creative thought partnership they crave (and pay for).
So how does an agency get to Trust? It’s not so complicated.
Throw yourself into their business.
Learn what makes them tick, dig into their category, interact with their
brand and product, live a day or week in their shoes.
Study their past successes, talk to people who’ve been part
of them, learn from them. Really
believe in what they do and how they’ve succeeded.
Drink their Kool-Aid. You'll be surprised at what a big difference it can make.
Agencies are struggling to be trusted because
they have a hard time dedicating the resources for their people to have even just a sip of Kool-Aid. They're just stretched too thin. The irony is, the survey finds that advertisers want agencies to deliver
“more for less.”
One good way to do that
is to have a more efficient, more nimble agency. Which explains the rise of small and medium
sized independents.
So if trust is everything, one way to get there is clear: reduce the size of your agency or create a not-so-big one from scratch.
Or as Steve Martin once said, get small.
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