Team agency model helps to overcome the complexity of multiagency engagement
Buyers are forced to hire multiple agencies for greater specialization even though it is difficult to manage these fragmented agencies under one integrated marketing communications umbrella.
While there are different methods of having an effective multi-agency relationship for solving issues such as poor coordination and integration among agencies, buyers need to focus on considering a multi-agency engagement that would reduce the complexity and achieve maximum value for their engagements.
While most of the agencies prefer positioning themselves as full-service providers, marketers are willing to reach out to a broader range of agencies to gain new channel or specialized expertise across various marketing categories -- from PR to media buying to event marketing -- to gain a competitive edge.
Marketers can derive various benefits through multi-agency approach such as assurance of marketing campaign’s success through diverse areas of expertise, and reduction and control of overall marketing costs. Inspite of these benefits, marketers face challenges such as:
- lack of information sharing across agencies that results in duplicated assignments
- poorly coordinated and integrated activities across agencies
- too much of buyer dependency and unclear accountability
However, marketers could have an effective multi-agency relationship and make it work through various agency engagement scenarios. These include:
- consolidation of creative, media, digital and PR requirements under a single holding company
- working with independent agencies in different geographies
- working with agencies under different holding companies in different geographies
- working with a mix of independent agencies, and agencies within holding companies
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