At this year’s IPA commercial conference, we will be exploring how the Ad industry can stop giving away its best ideas for nothing…
While this sounds easy enough, we all know in practice this is far from easy. Has the industry been tackling the challenge head on or by looking into the rear-view mirror, looking back to the old days and blaming the problem on the rise of the procurement discipline? However, client procurement has simply been working with clients to help make their budgets go further in an increasingly fragmented world where every year there are an increasing number of channels and ways in which to communicate to consumers.
As an agency leader, or member of your executive team, do you have a ‘commercial’ strategy in your company? Does everybody know what it is? And most importantly do they know what their role is to ensure it is well implemented? Who in your business manages your pricing options and determines what pricing strategy to apply when and where?
Now, as part of an agency leadership team, it’s time to be looking at your company's value proposition. It is becoming increasingly critical that your organisation has a commercial vision and plan along with the necessary capabilities to deliver those commercial goals. This is much more than ensuring your team acquires better negotiating skills, and this requires developing a commercial manifesto that sits at the heart of your business as critical to our DNA as our creative culture.
At Grey, we believe we create Famously Effective ideas. Ideas that don’t just impact on culture but transform business. Ideas that return every penny invested in them. Ideas that speak to the world’s most ambitious talent. We believe that creativity and commerciality belong together. We are increasingly using our creativity to unlock commercial challenges and commerciality to sharpen our creative thinking.
Great creativity sometimes carries risk, because it can mean doing things that no-one has done before. It’s critical that we stay open to learning in this space. It means scrutinising the value we bring, not just the time we spend. If we want to share in, or earn a bigger reward, or simply be paid for the value our creativity delivers to clients we have to promise to account for success and failure in equal measure. This means learning to manage risk in new ways, to analyse and optimise campaign performance, ensuring that we capture value and report that value back to our clients.
At Grey, we believe that one day we will earn as much from our own ideas as we do from making ideas for our clients. By developing and building world class creative, strategic and commercial talent, communications, tools, programs, services and products, we will become as famous for our commercial innovation as we are for our creativity.
At this year’s IPA Commercial Conference, we will be sharing many experiences from industry experts and practitioners, their methods and approaches to help agencies identify how to develop a commercial agenda. How by creating a pricing council you can start to establish a pricing discipline and strategy. Ogilvy will be addressing the behavioural changes needed in agencies to make this shift, and how to address the challenges a new commercial focus has for our people.
The need for agencies to have a commercial strategy has never been greater if we are to unlock our ability to demonstrate and capture the value we deliver to our clients. This will also lead us to start making changes to the way we price our products and services, aligned more with the value we create. Understanding marketing effectiveness has never been more important, particularly with the proliferation of new competitors and communication approaches in our Industry today.
Buy tickets to this year's Commercial Conference
Janet Markwick, FIPA is chair of the IPA Finance Business Group and a member of the newly created IPA Commercial Leadership Group.
Last updated 02/06/2016