We help our clients align their media agency contract with their business and relationship needs.
When you have invested significant time and effort conducting a media review, it is critical to ensure that your agency contract captures all of the commercial and financial nuances of the agreement with your chosen partner.
Despite the sincerity of those involved, a loosely worded contract can become open to interpretation in the future. You may only find out too late, when the current Account Director has moved on and the corporate memory has disappeared, that the rebates you understood would be coming your way are not in fact going to materialise. Or you might find that the transparency of margin enjoyed between companies in the media agency’s group that you spent so much time discussing is not actually going to be provided because the wording in the final contract was not precise enough.
You want peace of mind that the commercial agreement you’ve reached is adequately reflected in the contract that your brand and its agency partner have signed. Only then can you be sure you won’t encounter any disappointment and subsequent recriminations at year end. A robust contract is essential for maintaining an effective partnership with your media agency. It is the reference point for the relationship. Some even refer to it as the “relationship bible” – it’s that important.
At ID Comms we have a deep understanding of how agencies work. Our highly experienced team knows how the commercial and financial systems and processes of media agencies operate. We know the key clauses that should be in a modern media agency contract. Our Commercial Contract Advisory service provides a comprehensive sense check of the document that is going to govern your agency relationship for the foreseeable future. We will tell you whether any essential clauses are missing and will highlight any conflicting or contradictory wording that might become an issue later on.
Sending a well-considered document to your agency at the start of the review process will mean that all of the points that are important to your business are included and, when it comes to negotiation time, will mean that you can be more knowledgeable and effective in making the trade-offs between them (because let’s face it, if we got everything we wanted in a negotiation it probably would be a very one-sided agreement). A final review before you put pen to paper will either highlight any remaining issues or put your mind at rest that it’s ok to sign. You can then focus on getting to work with your new media partner.
Objectives of ID Comms Commercial Contract Advisory service:
- Support your legal team in the early stages of contract creation;
- Ensure that it includes essential clauses;
- Help you achieve the level of financial transparency that’s right for your business; and
- Sense check that the contract is going to deliver what you understand has been agreed, before you sign it.
Our Commercial Contract Advisory service will provide you with:
- Greater understanding of how media agencies work commercially;
- A robust contract that reflects your requirements;
- More control over your budget; and Increased ROI on your media investment;
- Increased ROI on your media investment.
The questions that Commercial Contract Advisory process will address:
- Given the rapidly changing world of media, is my contract fit for purpose?
- What does a modern media agency agreement look like?
- How can I put one in place that will meet the needs of my business and the agency?