Agency Mania Solutions
Tue, 10 May 2022 16:21:00 GMT
The world hasn’t come to an end, but at times it feels as if we’re getting there, doesn’t it? As the pandemic rocked the global economy and changed our working habits for years to come, brand advertisers had to face and overcome new challenges, ranging from rapidly transforming their business for digital-ready consumers to getting their marketing teams and agency partners to master remote collaboration. The interconnection of economies means supply chain and business partnerships have become mission critical to an organisation’s commercial success. And now, the world is embroiled in a new crisis, and the resulting tension and political and economic uncertainty, after the Russian invasion of Ukraine.
Yet a chaotic world requires organisations to find new ways of building lasting, rewarding relationships that collaborate effectively within the organisations’ marketing ecosystems. Amid this profoundly disruptive environment, here is what marketing leaders should do (and avoid doing) to build strong business partnerships:
Align. Don’t misguide.
Organisations must work like a fine-tuned orchestra. All their marketing instruments must 'make music' harmoniously to produce the right output. It requires complete alignment and clarity of goals with agency partners. Cannes Lions recently named Anheuser-Busch InBev its 2022 Creative Marketer of the Year," a company well known for providing strong input and for building a strong creative culture with its agencies.
Measure. Don’t guess.
A strong measurement framework is essential to assess work performance, the health of the relationship, and effective collaboration. Business partnerships are dynamic and, as such, may perform superbly at times but also struggle. It’s often cyclical and therefore must be managed systematically, not just reactively when it’s already out of control.
The interconnection of economies means supply chain and business partnerships have become mission critical to an organisations commercial success.
Fix. Don’t replace.
When relationships do struggle, brands are tempted to go elsewhere and hire new agencies and marketing business partners. The grass seems greener. Yet, because of unaddressed issues and a lack of willingness to take accountability for their role in them, these companies see the same underlying issues re-emerge with the new partners down the road. Some advertisers have built relationships that last, committing themselves to fixing and repairing – and ultimately strengthening – the value of the partnership; e.g., McDonald’s, which has been a Leo Burnett client for nearly 40 years, TBWA’s long relationship with Apple and General Electric’s long relationship with BBDO Worldwide.
Automate. Don’t waste.
In these troubled times, a strong partnership is a pillar any organisation can rely on to strengthen its business and operations
The cost of complexity is quite hefty due to the growing, expanded role of the marketing discipline. Many moving parts and the need for better orchestration among internal and external teams contribute to a web of important processes that, on aggregate, slow down execution. Yet brands must be agile and move at light-year speed to respond to market or competitive pressures.
Partner. Don’t commoditise.
In chaotic times, the chances to misallocate already scarce resources are greater than ever. Leadership is putting out fires. Marketing tries to keep up with escalating demands. Business partners are rushing to produce and meet aggressive deadlines. Under such extreme circumstances, relationships are being put to the test. Substandard performance, such as poor briefing, a lack of follow-up or delayed decision-making, can easily prevail.
A strong partnership is not just earned. It’s first and foremost modelled and made operational. Leadership plays a crucial role in setting expectations for internal teams and external partners. A successful partnership necessitates goal alignment, a measurement system for continually improving performance, a commitment to working together through relationship issues whenever they arise, and the automation of common tasks and activities that otherwise hinder productivity and efficiency.
In these troubled times, a strong partnership is a pillar any organisation can rely on to strengthen its business and operations.view more - The Influencers
Categories: Marketing, Business ServicesAgency Mania Solutions, Tue, 10 May 2022 16:21:00 GMT