Agency PRIP Manager™ is an end-to-end design, implementation and management programme for your agency performance-based remuneration model that aligns client goals with agency incentives.
With an ever-increasing focus on holding marketing spend – and agencies – accountable for business performance, it is no surprise that performance-based agency remuneration models are becoming more prevalent.
Based on our deep client and agency-side experience, ID Comms Agency PRIP Manager™ helps alleviate the complexity of constructing and managing your agencies’ PRIP model by aligning both parties around mutually beneficial objectives.
We construct a transparent, incentive-based commercial model that reinforces excellence across business-critical KPIs through a fully managed process. Our Agency PRIP Manager™ model helps identify, implement then manage your optimal PRIP model to extract ROI, performance, service quality and innovation from your agency partnerships.
Objectives of Agency PRIP Manager™:
- Align business, brand, media and digital objectives with agency performance incentives;
- Establish a mutually beneficial, self-sustaining commercial framework between client and agency;
- Align client and agency stakeholders across different disciplines around the correct quantitative and qualitative metrics to drive the right behaviours; and
- Create flexibility within a structured framework to achieve global consistency whilst allowing for local market adaptability.
ID Comms will provide you with:
A fully managed service that eliminates the complexity and subjectivity of administering a PRIP, involving:
- Expert assessment of your existing agency remuneration model;
- KPI Selection Framework to help prioritise your own Business, Marketing, Media and Digital needs;
- Bespoke PRIP design service to align client objectives with agency incentives;
- Integration of remuneration model with existing – or new – commercial agreements;
- Provision of qualitative and quantitative evaluation methodologies across planning, buying and service quality;
- PRIP forecasting and reconciliation service aligned with internal finance and procurement processes; and
- Dashboard reporting for client and agency.
The questions that the Agency PRIP Manager™ process will address:
- How should I structure my agency’s performance targets to incentivise best practice?
- What KPIs should I select, and how should I weight them, to incentivise my agency to go “above and beyond”?
- What are the optimal KPIs to hold my media agency accountable for business and brand results, not only media performance?
- How can I reward media value, service, Innovation and business performance, not just lowest possible price?
- How can I ensure agency buy-in and ongoing transparency and objectivity in my agency’s remuneration model?
Performance Related Payment Models – white paper by WFA
Aligning your agency’s KPIs with your business, marketing and media goals – and rewarding commensurately – is fundamental to a healthy, long-lasting client-agency partnership.
However it requires clarity of measurement and rigorous management.
ID Comms Agency PRIP Manager™ designs, implements and manages a bespoke, best-practice PRIP model that benefits both sides by rewarding excellence.