At the annual Economist Group Marketing Unbound event, speakers warned that marketing chiefs must face a world of change or a world of trouble.
According to one speaker, the new environment “means working with outside partners in a way that is agile, fast-moving, but still making good decisions as you make quick decisions. And it means communicating with customers in a different way.”
If the new normal, is turmoil, how can marketing chiefs find the time to manage the relationship with their agency partners?
Like any relationship, the client-agency partnership needs to be nurtured and managed to achieve its maximum potential. And it is effort well invested. Our studies show that clients can achieve benefits of over 37% greater creativity from their agency if they observe the traits of ‘good’ clients*.
Some companies have a false sense of value about an agency relationship management system that they manage themselves. They forget the considerable development time and the administration time these tasks absorb. Internally managed systems are more prone to political influence and loss of objectivity.
After all, this turmoil can take its toll on teams, both agency and marketer. As one speaker said, “the good marketing teams make sure to rest up and avoid burnout, like sports teams do”.
*Want to know the criteria for good client or agency derived from our database of over 15,000 relationships? Contact us today.