RightSpend®, Agency Compensation Benchmarking - providing Data Driven Procurement
Advertisers have struggled to overcome difficulties in determining fair compensation for their agencies, and now things are changing. Today, many of the world’s leading advertisers are implementing best-practice agency compensation through the use of a new tool that assists in setting fair compensation for both client and agency alike. The tool is RightSpend®, a flexible online SaaS system that allows clients the ability to build, benchmark, assess and track their agency scopes of work and compensation from start to finish on their own, providing results that are fair to both the client and agency. RightSpend® is grounded in over $9 billion of client-agency negotiated benchmark data that reflects what other like advertisers and their agencies have agreed upon—bringing fairness and balance to the process. RightSpend® addresses another key area of concern as well: how to determine the appropriate amount and level of hours and agency resources required to complete particular deliverables. This allows clients the ability to combine the appropriate level of seniority of agency resources needed to complete a deliverable with the fair level of compensation to pay for those resources, all driven by the client’s priority/importance level. RightSpend® benchmarks cover over 75 global markets and 9 agency types including creative, digital, media, direct, public relations, event marketing/promotions, design, pharmaceutical and medical communications. RightSpend® also allows clients the flexibility of using all types of agency compensation structures including annual fees, project fees, blended hourly rate, rate cards, commissions and output-based methodologies. What’s the ROI of RightSpend®? Well, last year it saved clients over 26 times costs, not in theoretical terms, but in actual direct fee savings that can be reinvested into the marketing budget and/or used to increase bottom-line profitability. That’s proven results. Through clear process improvements and a unified structure, RightSpend® has proven to be helpful in aligning marketing and marketing procurement with positive results in what was historically a delicate balance. We will be happy to send you credentials, case studies, pricing and leading global references. Or, if you’d like, we can give you an online demonstration of the tool while addressing your particular agency compensation questions or concerns.