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Date & Time
Starts: Wednesday, June 16, 2010 at 9:30am
Ends: Wednesday, June 16, 2010 at 2:30pm
Location
ANA Headquarters
708 Third Avenue
33rd Floor
New York, NY 10017
To Attend Via Phone and Webinar
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Agenda
I. PROCUREMENT: THE GOOD, THE BAD, AND THE UGLY - A DEEP DIVE (9:45 - 10:45)
Procurement has been a force in marketing services for about a decade, but for every success story, there are reports of procurement bad behavior. Recently, the advertising trade press has been feasting on negative stories-e.g., "Fed Up Shops Pitch a Fit at Procurement" in Advertising Age. Common complaints include the perspective that procurement's primary focus is on cost cutting and most procurement professionals have no prior marketing experience. Where does the truth lie?
This was a hot topic at the recent ANA Advertising Financial Management Conference where the new ANA/4A's procurement survey was shared. This session will take a deep dive into the results of the survey. It will reveal gaps, insight and many opportunities for greater alignment between procurement, internal client stakeholders, and agencies?
Facilitator:
Bill Duggan, Group EVP - ANA
II. BENCHMARKING - BOTH ART AND SCIENCE (11:00 - 12:00)
Benchmarking is an essential skill for folks in Mkt. Procurement & Mkt. Finance. At its core it is the proper balance between science, "artful" perspective (when it comes to agencies) and common sense. This session will begin with a broad perspective and look at the areas typically benchmarked for agencies: rates and commissions, operating costs and profits, process, scopes of work/staffing/hours, etc. Then we'll get into a deeper discussion of what can and can't be effectively benchmarked and best practices for benchmarking that are relevant and actionable for your agency relationships.
Facilitator:
David Beals, President and Chief Executive Officer- Jones Lundin Beals, Inc.
III. WHY AD AGENCIES NEED TO EMBRACE VALUE-BASED COMPENSATION (1:00-2:00)
This presentation will focus on the need for agencies to reassert themselves as the brand and business-building partner they should be.
For the past several years, several marketers and agencies have striven to devise the right framework for value-based compensation. Some consumer-goods companies have publicly touted their participation in such agreements. It's still too early to determine whether any have been a success, but they are clear attempts to create more rational methods of compensating marketing agencies, and a way to focus the client-agency relationship on the highest value-creating initiatives and programs. The traditional approach is imperfect to say the least, and heightens the chances that all work is treated as a commodity because an agency no longer has the incentive to put its best and most creative brains on the assignment. The potential outcome is that the client winds up with a team depleted of the right kind of senior talent and expertise, and therefore limited in its ability to create the "breakaway" effort that leads to market-share gains. The presentation will focus on impediments to this approach and suggest a path to overcome these hurdles.
Speaker:
Dr. Hari Mahadevan, Ph.D, Managing Partner and Vertical Leader - Rosetta
Jack Smith, Chief Marketing Officer - Medco