1. Set industry standards.
We've got all the acronyms -- ANA, AAAA, DMA, IAB, even the BBB -- banding together to self-regulate behavioral targeting, but it's every man for himself when it comes to the client/agency RFP process.
Sure, the AAAA has put out some position papers on the topic, and there are agency search consultants whose sole job it is to help marketers navigate the treacherous RFP waters, but all they do is stick more fingers in the dike.
Just as the IAB stepped in to create standards for online ad specs, someone needs to put some parameters around the RFP process.
As it stands today, each client and/or agency search consultant runs pitches in a different format -- RFIs, RFQs, RFPs -- oh my! And there's nothing worse from an agency standpoint then advancing through three rounds of scrutiny only to be pitted against competing firms in a real-time online auction to see who can offer the lowest rates.
2. Create third-party audited lists of agency size and client rosters
The first order of business for the acronym du jour that decides to tackle this hairy meatball should be compiling a list of all the agencies in this industry with the number of employees at each firm and their full client roster. Then each shop should be required to submit to an audit by the likes of PricewaterhouseCoopers to ensure that the information is accurate. Sorry agencies, no more hiding conflicts or using freelancers to inflate your numbers.
3. Create third-party audited lists of client satisfaction
If the first step is compiling a master list of how big each agency is and who they serve, the second is getting a read on how good a job they do for their clients. Currently, clients choose which shops to RFP based on metrics like billings-size or awards received. In my mind, the most important metric of all is how satisfied an agency's clients are.
There is no better way to gauge satisfaction than by asking all clients to rate their agency quarterly on "The Ultimate Question." How likely is it that you would recommend this company to a friend or colleague? In his book on precisely this topic, Fred Reichheld argues convincingly that the answers to this No. 1 question alone are as telling as any elaborate customer survey.
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