Marketers Who Monitor Matter
Monitoring your own performance and that of your media agency will only bring benefits to both sides.
Agency Performance Management is possibly the least sexy topic we’ve covered on #mediasnack but it’s one that we’re passionate about. It takes a bit of work to set up but it’s not expensive and the payback is huge.
Because Agency Performance Management (APM) combined with real investment by both parties has an amazing impact, not just on the performance of marketing campaigns but also on the longevity of the relationship.
It does that by (collectively) identifying the KPIs that make a difference, open and honest conversations at a senior level and regular, robust assessment of both sides’ contribution to the partnership.
Properly done, APM helps advertisers and agencies gain insights into the areas that are working well, where they need to invest to improve and encourages senior executives to gather together once or twice a year to deal with the little niggles that evolve in every relationship.
Doing that regularly ensures that the relationship lasts longer. It delivers better performance for the advertiser (as the agency gains a deeper understanding of what works for the brand) and enables the agency to limit their exposure to pitches (which are expensive for both sides).
It should also be used to reward the agency for good performance, providing a robust metric that monitors their performance above and beyond traditional media metrics.
In summary, APM is the perfect tool for identifying where brands and agencies need to invest to improve outcomes and avoid relationship breakdown. Because dealing with problems immediately rather than letting one side grumble on is the best way to ensure that the relationship lasts. Get in touch with our team to find more about how you can benefit from ID Comms’ Agency Performance Monitor.