You are wasting $millions on global toolkits local markets don’t use
Updated: Oct 15, 2019
The industry is awash with creative agency & network criticism and the need for them to ‘change’.
But little has been said about marketing production agencies, their old school methods used to make huge margins and procurement’s inability to understand the new marketplace.
Why are you wasting millions on global toolkits?
1. Millions of dollars are spent every year on centralised toolkits without them actually being used by local markets. Have you actually done a survey on which markets took a toolkit, which market hasn’t and which have had to create totally new stuff? You are losing $millions.
2. The wrong toolkits (always TV and print focused) are being delivered to local markets, meaning money is spent from local market budgets (which you should be saving) creating new masters & adaptation. Your business is doubling up, creating things twice, at twice the cost.
3. Heavy account management led creative agency teams eat up all your production budgets on conversation and process, meaning that before you even dish up an ad or deliver a content adapt to your local market, you’ve burnt $100k.
4. The current global toolkits are being produced by your lead creative agency, getting that award winning TV campaign just right, that outdoor ad kerned just perfectly. Meanwhile, local market media schedules are activated and they need assets! Your toolkits are never on time for local markets and nobody seems to give the slightest notice to it.
5. No empirical evidence is gathered from local markets to actually understand what should be delivered in the global toolkit. The lead creative agency and their client decides, without questioning local media schedules, plans, consumer needs or indeed market forces. No, what the UK and USA needs should not equal ‘everybody gets what we need’.
The global toolkit is a bit like an old fashioned English pub, serving stale ale and pickled eggs, whilst your patrons are looking for a bier blonde and steak tartar…… it’s always been done this way, it’s what we do, why change it?
When you have a media and content schedule which is 95% digital, yet your toolkit is waiting for one TV, print and outdoor ad, it’s time to change the way your are doing things:
- Research the local markets
- Talk to local media agencies
- Chat with their local marketing teams needs
- Plan and then produce tool-kits and adapts that hit 90% of needs
- Create a team that is quick and agile, ready for new and optimised needs
Ultimately look at spending your central money wisely or not spending it at all and save yourself $5m. And hell, if your combined local market revenues equate to 25% of your global returns, then think a little smarter about what assets you actually furnish them with.
Do you want to do things better, more effectively and save $seven figures? I'm sure you do and guess what? It's right there waiting for you.