Top 10 Ways Marketers Waste Money

TrinityP3’s Darren Woolley has created a resource that can to be returned to over again to remind ourselves of the basics you have to get right before you can ever have a chance to soar above your competitors. 

While many advertisers are looking for complex and sophisticated strategies it is often the basics that are being overlooked or are totally missing.

Some will say that process gets in the way of creativity. But the truth is that advertising agencies try to use the lack of process, and the invariable lack of accountability that goes with it, to push a creative agenda rather than develop a creative solution.

Instead, the discipline of process creates a foundation on which true creative thinking can flourish. Process can ensure creative people have the information, stimulation and time to do what they are paid to do – create.

Process can ensure that production has the resources, materials and time to bring these creative ideas to fruition. Be it a television commercial or a public relations event. Be it a direct marketing campaign or a new website.
 

• With out process there is no discipline.
• Without discipline there is no accountability.
• Without accountability there is only creative for its own sake.

So below are the ten most common mistakes advertisers make. And how to avoid them. It is written as hopefully an easy and enlightening read. But it also a resource to be returned to over again to remind ourselves of the basics we have to have right before we can ever have a chance to soar above the competitors.

Of course we have changed the names to protect the innocent as well as the guilty. We have also modified some of the figures to protect the confidentiality of our clients. But none of the figure has been changed to exaggerate the impact of these behaviours. If anything they are understated. Mind you, if you think you recognise yourself or your organization tell us. It is always fun to catch up with one of our clients.
 

1.         Incomplete or poor quality briefing

2.         Being too prescriptive in your requests

3.         Allow everything to be handled at the last minute

4.         Being indecisive in your feedback

5.         Convoluted approval processes

6.         Interfering in processes you don’t understand

7.         Having the agency do tasks you can do yourself

8.         Excessive last minute changes

9.         Changing agencies too quickly

10.       Simply spending the budget
 

View detailed slideshow highlighting the ten points above.

Darren Woolley is the managing director of TrinityP3, an independent strategic marketing management consultancy that assists marketers, advertisers and procurement with agency search & selection, agency engagement & alignment and agency monitoring & benchmarking. Darren’s role is to ensure maximum performance in efficiency and effectiveness of their advertising and marketing budgets, across Asia-Pacific including Australia, China and SE Asia with offices in Sydney, Melbourne, Hong Kong, Singapore, Auckland and London.