Introduction
Consider the following: You've just completed negotiation of your Agency of Record fees — ensuring overhead and profit margin adhere to industry standards. You move on to the next high-profile project, assuming that you've optimized your agency compensation to deliver the most value for your marketing dollars. Yet frequently, this is simply not the case.
The reality is that procurement departments and marketing stakeholders alike commonly work with agency partners under a false sense of security that agency compensation is efficiently managed. But cost oversight of the week-to-week, month-to-month and quarterly activities can lead to a substantial increase in agency costs.
In this practical white paper, GEP highlights several areas of agency spend that, if managed correctly, can hold the key to uncovering hidden costs and help you drive maximum value from your marketing agency. We also recommend an approach to help you effectively engage your marketing stakeholders and agencies to ensure success.