Way of working
Phase 1 Due Dilligence
Financial analysis
- How is the budget created?
- How high is the budget and is this benchmarked considering amongst others competition, share of voice, conversion, customer acquisition cost, brand awareness and media inflation.
- How is everything controlled?
Analysis of processes and systems
- How does marketing interact with other parts of the company and with suppliers?
- Which functions and how many people are involved?
- Are the processes clear and secured?
- Are these efficient?
- Are these agile?
- Are there marketing reviews with the board?
- Are the suppliers evaluated? With which frequency?
- Which risks are involved?
- Are the systems state of the art? Are these agile? Are these futureproof?
Marketing suppliers
- How many suppliers take which percentage of the budget?
- How many suppliers are there? What does the supplier set look like?
- How dependent is your company on them?
- What are the financial terms? Are these competitive? Is it all transparent?
- Are invoices still coherent with contracts? Are their hidden money streams (financial flows you don’t see) in the marcom supply chain?
- What’s their size?
- Issues such as insourcing and outsourcing are addressed.
- What risks are involved?
This all leads to conclusions and recommendations of potential savings, aligned with you, fitted to the company’s needs. These form the input in the next phase Improvement.
Leadtime 3-6 months dependent on speed and availability of information and people.
Phase 2 Improvement
Here we will negotiate new terms and conditions with suppliers and draw up new agreements. We will optimise agency sets and ways of working. Also, evaluation of working and performance (KPIs etc) of the department and the suppliers will be put in place. These are both transparent and market conform. We will also cover rights issues and data ownership. Of course, we will present the savings for now and the coming years, while collecting money from the past.
We will structure and draw ideal processes which are compliant with transparency and saving time of people.
Leadtime 3-6 months.
Here we support in further implementing the changes we pointed out in the Improvement phase. If necessary, we aid in selecting supplier(s) for dashboards and implementing these. We help in finetuning the agreements in every day working and make everything as futureproof as possible.
If needed, we can deploy a change manager or a project manager.
Remuneration
In phases 1 and 2 (Due Diligence and Improvement) our remuneration is tailormade, comprising of a combination of a commitment fee and a percentage of savings.
In phase 3 (Maximisation) we use hourly rates.
Out-of-pocket costs will be estimated and submitted beforehand for approval. These are billed after agreement without a mark-up.
We view marketing as an investment
That is why we call ourselves MiM: Marketing Investment Management. With every investment you typically look at your results, ROI, risks, governance, compliance. Do you also review these for your marketing investments?
We do
By looking at all these issues, analysing them, making recommendations and operationally improving them. The main question is: is the money well spent? Well spent in the sense of effectiveness, efficiency, risk, transparency, governance, compliance, control and brand safety.
Marketing Communications, (social) media, promotion, advertising, sponsoring, SEA, POP-materials, flyers, PR. Many different terminologies are used. We know it is not right but for the sake of simplicity we just call it Marketing or MarCom.
