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  • Vijesti

    Wüsthof Sharp Systemic Brand Identity with Gigodesign wins Red Dot Award

    How to win a Grand Prix in Cannes?

    The best of Latvian and Estonian advertising

    Enjoy the summer with Cinedays Film Factor 20

    Lokomotiva and SentecaCommerce signed a partnership for 12 European markets

    Virtual Drumming with Fernando Machado, Karolina Galácz, and Thomas Kolster

  • Tema sedmice
    daljinski-naslovnica

    Television Audience Measurement: In Serbia, the media are in a race to the bottom for every extra “click”, while in Croatia HTV has undermined the principle of joint monitoring

    This global pandemic, coronavirus, cuts across all geographical borders regardless of cultures and language. What is the role of Public relations today?

    Slaven Fischer: Creativity doesn’t reside in buildings but in people, no matter where they are. It’s natural for people to work from home.

    Janja Božič Marolt: As in every crisis, there will be a lot of victims and some winners in the communications industry of the region.

    Shortcutting Video: New Study Highlights the Effectiveness of 2-second Ads

    Topic of the Day: Can artificial intelligence replace human intelligence and emotions. Is technology a servant or a master?

  • Intervju

    Miranda Mladin: Keeping consumers’ attention is every brand’s biggest challenge

    Nataša Mitrović: I understood that the Balkans should be my primary target area and that, once I had become a shark in the Balkans, then I could make my way “back” into the big world and swim in the sea with the other sharks.

    Ivan Stanković: I admit to having great fun and enjoying myself enormously working on my show, What I am to you and who I am to myself.

    Scott-Gould-naslovnica

    Scot Gould: Stop doing anything that you do that isn’t valuable, tell everyone about that offering, and don’t stop!

    lazar-naslovnica

    Lazar Džamić: We are experts at preferring the byways, swamps, and chasms, so that we can keep on going in circles, lost in space

    Irena-naslovna

    Irena Kurtanjek: Contributing to the Communities in which we Operate is the Foundation of Nestlé’s Business

  • Kolumna

    Sponsors? What that?

    misa-naslovnica

    Miša Lukić: What can start-ups learn from sperm?

    Do Brands Always Need to Sell Aggressively to Grow?

    Price of Hate

    The Advertising Industry: From Alchemists to Distributors and Back Again

    Milena Garfield: It’s not long since I said: If it ain’t live, it’s dead

  • Dnevnik

    Diary of a Methuselah #176 Will our industry come out of this better and smarter?

    Diary of a Methuselah #159: Ivo Pogorelić and Zoran Todorović weren’t attractive enough for sponsors in Sarajevo

    Diary of a Methuselah #157: The Young Leaders of Tomorrow, a great event for young people who are ready to assume responsibility for the future of industry

    Diary of a Methuselah #156: I’ve been writing my Diary for three years now, and I don’t think I wrote anything smart

    Diary of a Methuselah #154: Three days at the PRO.PR Conference

    Diary of a Methuselah #153: Portal Media Marketing starts a new life today

  • Mladi lideri

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    Mladi liderji – Saša Droftina, Luna \TBWA: Želela bi, da bi se spremenil odnos do pitchev

    Mladi Lideri Kristina Gregorc

    Mladi liderji – Kristina Gregorc, Mercator: Zelo sem optimistična in izjemno ponosna in vesela, da sem del tako velike in uspešne ekipe

    Mladi Lideri

    Mladi liderji – Maša Crnkovič, Futura DDB: Največji izziv je vpeljava podatkov in feedback-a uporabnikov v procese dela

    Young leaders – Aneta Nedimović, New Moment Belgrade: Articulating ideas and the value of those ideas is an art form and a skill

    Mladi liderji – Matjaž Muhič, ArnoldVuga: Želel bi več časa za razmislek, za delo, za raziskovanje

  • Tri pitanja

    Robert Wester: Strategic communications is at the top of the European Commission’s agenda

    Chris Pomeroy: Tourism in 2019 accounted for 1 in 10 jobs on the planet and until now it was resilient to all manner of crisis

    Andrey Barannikov: The role of PR in Russia is changing and becoming more strategically important both for brands and communication agencies

    francis-ingram-naslovnica

    Three questions for Francis Ingham, Managing Director of the Public Relations and Communications Association (PRCA) & Chief Executive of the International Communications Consultancy Organization (ICCO)

    3 questions for Svetlana Stavreva, President of the International PR association (IPRA): Today, people are demanding that organizations do what they promised

    Three questions for Petra Krulc, Senior Vice President of Celtra

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Home Opinion

It’s time for agencies to talk like their clients listen

How can we engage the financial people by using their vocabulary to explain our creativity?

13/11/2018
in Opinion
3 min read
It's time for agencies to talk like their clients listen

Drugi jezik na kojem je dostupan ovaj članak: Bosnian

By: Keith Reinhard; Source: AdAge

It’s fair to say that advertising’s contribution to our clients’ growth and profit is undervalued by consultants, by financial professionals, by procurement executives, by companies themselves and perhaps, even by us. The prevailing view is that the service agencies provide is a commodity, and a soft cost to be relentlessly cut instead of an investment capable of yielding high returns. This in turn poses a serious threat to the industry’s continued ability to deliver the caliber of creativity and service our clients need to grow their businesses.

Michael Farmer details this reality in his book “Madison Avenue Manslaughter.” Farmer notes that the price we get paid for what we do has been declining for more than 20 years to the point that we’re now getting paid less than half as much as consultants. This reduction in industry revenue makes it difficult for agencies to compete for the quality of talent needed to create the kind of magic that transforms brands and leads to exponential growth and profit for clients.

Can a consultancy give an old brand new life and double its sales in a year, as Wieden & Kennedy did for Old Spice?

Can a consultancy increase trading volume 384 percent in three days for a little-known fund, as McCann did for State Street Global Advisors?

Can a consultancy create a double digit increase in brand equity while at the same time changing a negative association to a positive one, as Leo Burnett did for Always?

Can a consultancy return £11 for every £1 pound invested, as adam&eveDDB did with a Christmas campaign for John Lewis?

At DDB, we believe that Creativity is the most powerful force in the business. But as an industry, we need to better explain and extoll the bottom line results we produce with and for our clients.

We not only sell their products and services effectively and efficiently, we increase the monetary value of their brands and increase the value of their stock.

We can argue about the merits and the ills of shareholder primacy—short termism being one of the ills—but as Michael Farmer says in his book, agencies must simply acknowledge and accept that clients are governed by shareholder value concerns, and that the mission of the agency needs to be refocused on helping clients improve growth and profitability.

A recent report commissioned by Think Box from Ebiquity and Gain Theory is called “Profit Ability, the Business Case for Advertising,” and it states our challenge clearly: “Advertising must be seen as a capital investment in growth, not as a cost. It should be an investment option that is weighed up and risk-assessed alongside and against other routes to business growth as part of a long-term plan.”

So how will we get clients and procurement executives to think of advertising as an investment, not a cost to be cut?

A few years ago one of our veteran creative people was attending a particularly frustrating client meeting in which no one seemed to be communicating. During the lunch break, he called a friend of his who is a professional negotiator. As he began to describe the nature of the communications impasse, the friend interrupted with this observation: “Here’s the problem. You don’t listen like they talk, and you don’t talk like they listen. If you talk like they listen, eventually they’ll listen.”

That reminded me of something Nelson Mandela once said: “If you speak to a man in a language he understands, it may go into his head. But if you talk to a man in his own language, that goes to his heart.” Or her heart, as the case may be.

How then can we learn to talk like the procurement people listen, and speak to CEOs in their own language? How can we engage the financial people by using their vocabulary to explain our creativity?

Alan Krinsky, a co-author of a 4A’s publication called Advertising Agencies and Marketer Procurement Functions,says, “If you take the show-business approach with procurement people or purchasing executives, showing flashy ads and award-winning campaigns, you can expect glassy-eyed stares.” Krinsky urges us to ‘Focus on results, not on how you got there.” “The process is where the costs and fees are discussed” Krinsky says, “but the results are where the deal is made.”

So, can we learn to speak net present value? Can we become fluent in cash flow?

Recent evidence indicates that advertising can have a remarkable effect on the investment community. Nike’s share price reached an all-time high after the release of the Colin Kaepernick ad.

So many agency leaders are doing a great job to rethink work processes and re-imagine structures—DDBWorldwide’s CEO Wendy Clark is one who is pioneering in these areas with her “Flex” concept. But can agency leaders find better ways to engage with client-side financial people to demonstrate the R.O.I. potential of advertising that’s brilliantly conceived and strategically employed? And along with appearances on the stages of advertising events, can these agency leaders publish their thought leaderships in business journals, in the language of business? Finally, can journalists covering our industry write about ad driven business successes in bottom line terms?

In short, we need to learn to talk like they listen and convince the industry’s clients that as their partners, we truly mean business!

 

Tags: DDBKeith Reinhard
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