A highly effective and robust media agency renegotiation process designed to future proof contractual arrangements by recalibrating trading positions, modernising resource and remuneration terms of business and ensuring accountability and transparency.
Most media agency/ client contractual agreements are fixed term, for either three or five years. At the conclusion of the fixed term, you can decide to either tender the business or alternatively, if the existing agency relationship is solid and constructive, re-calibrate the terms of business to secure improvements in value whilst also modernising certain critical elements within the contract. This can deliver additional efficiencies without putting your business through the significant disruption associated with a competitive pitch process.
We ensure that the terms detailed within the Master Services Agreement are up to to date and fit for purpose and that the specific media requirements remain as competitive as possible and are protected for the following three years.
We have developed a process that identifies which elements of the contract require updating, what needs addressing, where the potential value opportunities are and how best to engage the agency through a positive and constructive negotiation. Concluding with a robust and relevant contract designed to immediately future proof your business and maintain a fair and transparent contractual relationship with your agency partner.
“ID Comms were instrumental in helping us secure improved terms of business with our media agency partner. They assumed a leadership role from the beginning, helping us identify the areas within our contract that needed improving and then designing and facilitating a negotiation process that delivered significant improvements in value and reassurance that my business is protected for the foreseeable future’’
Objectives of Agency Renegotiation Process:
- To identify areas within the contractual and commercial terms that need addressing;
- To provide an assessment of the opportunities for contract improvement and additional value creation;
- To define Scope of Work resource requirements to ensure remuneration structures are optimised and reflect current and future needs;
- To design and develop the negotiation proposal that will be shared with the incumbent agency and that will provide the framework for the negotiation; and
- To facilitate a negotiation process that results in improved terms of business and incremental value improvements.
ID Comms will provide you with:
- A comprehensive report identifying areas within the current contract that require addressing and updating;
- A clear assessment of the value opportunities available as a result of a successful recalibration of trading position and AVB delivery;
- A fully populated negotiation framework and milestone plan to act as a blue print for a successful renegotiation strategy;
- The design and development of the negotiation proposal that will be shared with the agency at the start of the negotiation process; and
- Leadership and support in the negotiation with the agency.
The questions that the Agency Renegotiation Process will address:
- Is my media agency contractual arrangement fit for purpose?
- Am I benefiting from the most competitive trading position ?
- Am I securing the maximum value from my media agency?
- Do I receive my fair share of rebate delivery?
- Is my agency scope of work appropriate to my current and future media agency needs?
- Is my remuneration structure fair, motivating and rewarding of value generation?
- Is my agency being held to account for the commitments they have made.
ID Comms has been responsible for the renegotiation and renewal of more than $1bn worth of global media agency contracts.
We execute a proprietary best practice process designed to identify the greatest opportunities for value improvements and agency transparency and facilitate a positive and constructive negotiation process resulting in a robust, relevant and future-proofed media agency contract.