In the fast-moving world of marketing and advertising, it's getting tougher to find the right agency to meet a company's needs. Plus, most partnerships between brands and agencies don't last more than three years on average. This wastes a lot of time and energy in our field. And starting a new partnership takes a long time to work well. So, our advice is to focus more on improving the relationships you already have instead of always searching for a new partner when things get tough.
COLLAB, a tool developed with a focus on creating sustainable partnerships, has been at the forefront of transforming how brands and agencies collaborate for mutual success.
What insights have we gained from the 1,157 COLLAB interviews we've completed so far?
What tends to go smoothly, and what are the typical areas needing improvement in the relationship?
Evaluation Metrics: A Three-Year Overview
Over the last three years, brands have evaluated their agencies with an average score of 7.56, highlighting strengths in process accessibility, cultural fit, trust, and enthusiasm. However, areas for improvement include the use of data to establish direction and time and budget optimization.
Agencies rated their brand partners with an average score of 7.43, praising process, accessibility and attitude regarding cultural fit and trust. Yet, they identified pitfalls in the lack of clear strategic briefing, ROI definitions, the meeting structure and internal collaboration validation process.
At its core, COLLAB is designed to foster enduring partnerships between brands and agencies. Developed by PitchPoint, it serves to initiate essential conversations and identify areas requiring adjustments. The tool is grounded in three pivotal dimensions that underscore the performance and longevity of brand-agency relationships:
Expertise: This dimension focuses on the effectiveness of the relationship, ensuring that both parties bring their best skills and knowledge to the table.
Process: This aspect relates to the efficiency of the relationship, streamlining workflows and communication to achieve the best outcomes.
Attitude: Here, the emphasis is on the overall chemistry and value alignment between brands and agencies, which is crucial for a harmonious and productive partnership.
COLLAB's Impact in the Belgian Market
Having been deployed in the Belgian market for three years, COLLAB has amassed impressive metrics:
Conducted 1,157 interviews and in-depth reviews of 214 relationships, establishing reliable benchmarks.
Launched new products, including COLLAB media and COLLAB tech, enhancing its offering.
Expanded internationally in The Netherlands since December 2023.
The key findings highlight COLLAB's solid evaluation methodology, confirming the validity of its three dimensions. Notably, its efficient process boasts a one-week turnaround time from survey start to report generation, attributed to a high degree of automation, ensuring low costs.
Feedback from Agencies and Brands
Agencies appreciate COLLAB for stimulating the right conversations, identifying necessary adjustments, increasing team motivation, and avoiding unnecessary pitches. Brands, on the other hand, value the tool for eliciting more in-depth feedback, encouraging better organization, enhancing internal and external cooperation, and increasing trust.
Investing in your brand-agency relationship is crucial for achieving and sustaining success. COLLAB offers a comprehensive solution to evaluate and fine-tune this relationship. Contact firstname.lastname@example.org to learn how COLLAB can optimize and sustain your brand-agency partnership.