It wasn’t too long ago that brands were content to outsource virtually everything to agencies. Brands love and need agencies, but such outsourcing means living with some significant downsides.
For starters, not only do agencies track totally different KPIs from campaign to campaign, preventing apples-to-apples comparisons, but the reports typically arrive too late to use the insights to course-correct.
Additionally, it often feels like agencies hold media performance data in a black box. Where do the numbers come from, exactly? Why do we never discuss what’s NOT working? And if the marketing is going so well, why is that success not reflected in business outcomes on the brand side?
Another frustration is that the brands have to request (and pay for) any ad hoc reports that they need to gain the visibility they want into media performance. For many brands, those costs really add up.
Happily, things are starting to change. As marketing teams become more comfortable with data (not to mention the fact that there’s more pressure than ever before to get the most out of every marketing dollar), they’re no longer content to be out of the loop. Instead, a critical mass of brands are bringing candor, partnership and accountability into the picture by aligning around a single source of truth for media data. Only then can brands and agencies see what’s going well and what’s not, reallocate spend on the fly, and focus less on data wrangling and more on ways to achieve the brand’s objectives.
Here at Beckon, we’ve helped dozens of clients at global brands through this transition. And we’ve compiled our learnings into a guidebook, Partners in Transparency: The New Brand + Agency Relationship.
Download it now to get started on your journey to brand/agency bliss.