As the saying goes, you’re only as good as your last project. But what is the cumulative effect of all of your projects? Do you know how your agency is performing not only on individual projects but other key factors such as responsiveness, business understanding, communication, added value?
According to a recent ANA (Association of National Advertisers) survey, while marketers deal in data, qualitative performance still tends to carry more weight in evaluations than quantitative ones such as media cost savings, sales or market shares. Leading qualitative performance criteria identified by survey respondents as something they measure with their agencies include:
In this same survey, 92% of marketers with sales of more than $5 billion annually have agency review processes vs. 74% of smaller companies. Overall, of 117 marketers participating in the survey, 76% said they have a formal evaluation process for traditional creative agencies and 68% have one for traditional media agencies, but only 47% do for digital agencies and 25% have one for direct-marketing, PR and multicultural agencies.
If you currently do not perform regular agency evaluations with your client, ask. Don’t be afraid of the feedback. Remember, in any relationship, there will be ups and downs and areas for improvement. Look at the performance review as an opportunity for open, honest dialogue with your client about how to strengthen and improve your service. Remember, the average client/agency relationship is only three years. If you want to defy that industry average, regular performance reviews are a good way to start. At Domus, we conduct quarterly performance reviews, and we’re proud to say that our top three clients have been with us 15, 13 and 8 years.
Joanne Michael is an Executive Vice President at Domus, Inc., a marketing communications agency based in Philadelphia. For more information, visit http://www.domusinc.com. For new business inquiries, please contact CEO and founder of Domus, Inc. Betty Tuppeny at email@example.com or 215-772-2805.