SUPPLIER AND AGENCY PORTFOLIO REVIEW
Are you partnering with the right number and the right mix of advertising agencies and marketing suppliers?
Do you have the right agency model for your business? Are you partnering with the right agencies for your unique business needs? Do you spend too much time managing and integrating various agency partners? Is your advertising agency portfolio delivering mediocre work?
Are you partnering with the right number and the right mix of advertising agencies and marketing suppliers? Does your portfolio allow for consolidation of advertising agencies, or does it require more agency specialisation?
Yardstick’s Supplier Portfolio Study will help you to optimise your agency, and your marketing supplier mix.
What are the benefits?
A Yardstick Supplier and Agency Portfolio Review will ensure that you:
- Create a supplier strategy aligned to your marketing and communication strategy
- Deploy an operating model aligned to your supplier strategy
- Apply the right criteria to determine the number and mix of advertising agencies and suppliers
- Reduce duplication, minimize waste and introduce economies of scale
- Work with the right number and the right mix of agencies and suppliers
- Maximize the outputs of agencies and suppliers by aligning and focusing expectations and outputs
- Minimize inter-agency conflict through clearly defined roles and responsibilities
- Provide a solid basis for future model changes
Advertising Agency Portfolio Review
A large, multi-national, financial services client was hamstrung by a portfolio of agencies that no longer serviced the changing needs of their business. Their portfolio was characterised by significant duplication of services and it consumed time and energy to manage, integrate and coordinate. After conducting a detailed Portfolio Review, the client changed their agency operating model, consolidated creative services and appointed much needed specialist agencies. It resulted in significantly reduced costs, better quality and consistency of work, less operational complexity and much higher levels of accountability.
Marketing Supplier Review
When a financial services client requested Yardstick to conduct a review of their marketing suppliers they were shocked to discover how many suppliers actually worked on their business (from agencies to event management companies, merchandising suppliers, photographers, packaging designers, etc.) and how many of these were doing so without formal contracts and/or negotiated rates, leaving them exposed and unprotected. A Supplier Review resulted in the client adopting a proper marketing supplier strategy. It helped them to categorise their suppliers, exit unwanted relationships, negotiate competitive rates, formalise relationships and strip out duplication, bringing about significant savings in the process.
Marketing Cost Optimisation
Marketing cost optimisation is not only about cost reduction. It includes increasing the effectiveness of marketing supplier practices, driving efficiencies through cost avoidance and savings, and reducing risk. For one of SA’s largest and most reputable retailers Yardstick analysed and categorised two years of spend data. Thereafter we engaged selected marketing suppliers to obtain salient information, reviewed and benchmarked the data and developed optimisation strategies for different marketing supplier categories. The project identified significant savings for the client.