Time for a change – how brands can achieve transparency within their agency relationships
In association with Campaign Magazine, Tag takes an inside look at the relationship between marketers and agencies with insight from Tag global CEO and marketing leaders at Direct Line Group and eBay.
The growing need for personalized, customer centric multichannel marketing has led brands to turn to specialized agencies to help them get the job done. Gone are the days of one agency of record (AOR) and now more than ever, marketers are relying on multiple agencies to carry out different specialized task. It is no surprise that while marketers rely heavily on outside agencies, the relationship is strained.
Many agencies have earned a bad reputation for a lack of transparency and an inability to show deliverables for dollars. As marketers are continually up against a need to prove ROI, while stretching their marketing to do more with less, what will this mean for the future of the agency relationship?
“The relationship between marketing agencies and clients has come under increased scrutiny in recent months,” explains David Kassler chief executive of global marketing production partner Tag. “Brands are being pushed to reduce marketing costs while delivering increasingly personalised content which is more tailored to the needs of each channel and at speed – quite a tall order.”
To complicate things, there are other forces at play. “The pressure is being especially being felt by bigger holding companies, and the cracks are beginning to show in their global business model – not helped by widespread mistrust of billing practices and multiple regulatory investigations,” continues Kassler.
Calls for greater transparency and authenticity are set to continue amid other issues such as brand safety, privacy, security and, particularly, data protection. Kassler concludes, “it’s time for a new kind of agency model to come to the fore and begin to repair damaged agency-client trust levels.”
Four key insights to improve brand and agency relationships:
What can be improved and what strategies can be deployed to maintain happy equilibrium for the client-agency partnership? Tag, in association with Campaign Magazine, called upon marketing directors at both Direct Line Group and eBay to gain insight into the current state and identify four ways to improve marketing via enhanced agency relationships.
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