Whether you are experiencing problems with your current agency, or if you think you have a good relationship with your agency and are getting a good deal, it is beneficial to conduct an agency review. While we realize that agency relationships are important, it is also crucial to assess agency capabilities as well. In fact, about 61% of large companies choose an agency because they became aware of them through a colleague, but this does not mean that the agency was assessed thoroughly.

An agency review allows you to assess the current state of the existing relationship with an agency, as well as the options in the market, with the potential to source a new agency or revisit the existing contract with the incumbent agency. And while you might think large companies assess these relationships frequently, it’s daunting to think that only 41% of clients conduct an agency review every 2 or 3 years.

Agency reviews can be used to assess cultural fit, agency capabilities, agency costs, and technology, among numerous other aspects of the relationship. The American Association of Advertising Agencies reported that approximately 650 agency reviews are conducted annually. By conducting an agency review, your company can gain clarity into scope of work, the ability to negotiate terms, access to cutting edge technologies, improve KPIs, increase cost savings, gather insight into the market, or even the leverage needed to negotiate with an incumbent agency. Companies are realizing that there is added value from conducting an agency review, even if it is just to verify that you are receiving quality products and services from an incumbent agency. 

Source One has experience conducting numerous agency reviews that not only optimize your marketing budget but also ensure the agency you select is the best-fit for your campaign needs. 
We understand the crucial role marketing firms play for an organization and have developed an approach that strengthens the relationships between our clients' and their agencies. Contact Source One's marketing sourcing experts today, to learn more about how an agency review could be beneficial to your organization. 

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