Hello and welcome back to another agency search quick tip from AAR Partners. AAR Partners is an agency search consultancy managing agency reviews for marketers since 1980.
I recently managed a review for a large spirits company and the following question popped up once the selection committee made the final agency decision: What is the action plan now that we’ve made the agency selection?
Even though you might feel like you crossed the finish line when the team finally selected the winning agency, you’re not done yet!
Here are some immediate steps to keep in mind in order to get your new agency up and running:
- Keep the decision confidential and within the selection committee until you are ready to make the announcement. This is especially important if there is an incumbent who is not retaining the business. You do not want them to find out in any other way but directly from you.
- If there are any clarification questions that need to be addressed with the winning agency, get those questions clarified before you make any announcements to anyone about your selection.
- Inform corporate affairs or your internal PR team to draft a release so you can control the news as much as possible about the decision.
- Inform legal and have them get the Master Services Agreement ready to be released to the agency’s legal representation for review and approval.
- Brief your legal team on the expected scope of work to be included in the contract, along with the proposed agency fees.
- Execute a letter of intent while the contracts are being prepared.
- Set up a call with each of the agencies who did not prevail and give them the courtesy of some unfiltered feedback as to why they did not win the business.
- Once all contracts are executed, release your press statement.
There you have it. If you have a burning question about your agency search, AskAAR by posting your question on Twitter or LinkedIn but be sure to hashtag it with #AskAAR. And I’m right here to answer your questions.
Good luck with your agency search and if you need any guidance, think of AAR Partners! We’ve been managing agency review since 1980 and if we can help you too, we’d be delighted.