A link to Decideware's whitepaper, Beyond Cost and Rates – a practical guide to understanding value is available via the just released WFA news, October 14 edition.
The Decideware whitepaper outlines a means to capture important information about agency costs and performance to better understand value.
The paper is also available on request, via email@example.com
Steve, Richard and Jennifer are representing Decideware at this year's hugely exciting ANA Masters of Marketing conference in Orlando, Fla.
See a quick video report from Steve:
The ANA Master's of Marketing Conference assembles the nation’s chief marketing officers and leaders from the agency and media worlds for the industry’s signature event. This conference offers an opportunity to learn and engage with the leaders of the marketing community who have built brands, leveraged the expanding array of media, made marketing more accountable, and improved the quality of their marketing organizations.
For additional information click here. Stay tuned as we bring you current headlines and details from the show.
Richard Benyon and Steven Wales are currently attending the first-ever ANA conference focused exclusively on measurement. The “Masters of Measurement” Conference will provide attendees with practical ideas to improve marketing decision-making through measurement.
The conference will explore timely measurement issues including:
Follow both Richard and Steven's twitter feeds - @stevenwales and @rbenyon - and see Steven's first video blog on Decideware's YouTube channel.
Author: Jennifer Nickle (Decideware)
In what must be one of the most unusual CMO presentation I've had the pleasure of listening to, Matthew Jauchius, EVP & CMO, Nationwide Insurance, provided insights as to how he has used marketing efficiency to drive the effectiveness of their advertising budget.
With a background as a CPA, and having most recently worked at McKinsey's, Matthew put forward a compelling operational argument that looking to eliminate waste, in what he termed a "Seek and Destroy" mission, has had a huge impact on getting the most out of his $400 million budget.
Key to his argument is that in looking to eliminate waste, as is been demonstrated by leading automotive companies such as Toyota, a wide range of different questions are asked (which he did not reveal!), and these not only drive down cost and inefficiency, but they can also have a remarkable effect on the top line.
He was also very clear in articulating that looking to remove waste is not a way to drive down agency margins. In fact, in his mind the word "Vendor" is poison to productive agency relationships. It's critical to understand that this is an important relationship with specialists which generates tremendous value for advertiser organizations and agencies. And it is vital that together, the client and the agency must be lean and transparent and act together to grow. The strength of the relationship can be measured using specific metrics related to, for example brand (awareness) and people (engagement).
Nationwide now have 31 people in marketing who are Six Sigma Green Belt certified. He estimates that last year they saved 18,000 hours of wasted time which equates to 11 full-time equivalent people. That also managed to decrease their production costs by around 30%, a huge savings by any measure!
Author: Richard Benyon (Decideware)
A recent CMO Council report reveals marketers are feeling confident, but most (around two thirds) are planning changes to agency rosters this year.
In their 8th "State of Marketing" Report, the data indicates 81% of senior marketers feel confident believing that they can drive growth and improve market share.
However, two thirds of marketers are planning changes to their agencies rosters despite 63% rating their agency partners as extremely valuable, valuable or pretty good citing lack of business result, insufficient value adding thinking and uninspired creative work as the drivers for that intended change.