Do agency heads really think that their agencies do great work?
All the time? Some of the time? Not at all?
At the recent Transformation Conference, Transformation 2011, a panel of ad execs was asked how much of the work they create for their clients is truly great work.
Here are their answers, which, in my opinion, were transformational. If only because they were, for once, being truthful.
Peter McGuinness, Chairman-CEO of Interpublic’s Gotham – 45%.
Claudia Batten of Victor and Spoils – 30%.
Duff Stewart, President-CEO of Omnicom Group’s GSD&M – 20% to 25%.
Howard Draft, Executive Chairman of DraftFCB – 20%.
What would have been even more transformational is if those execs were willing to accept a smaller fee from their clients when the work they produced was less than stellar.
Was that discussed by the panelists?
Should it have been?
If advertisers want the quality of work that their agencies produce to improve, they will need to motivate their agencies to deliver greater work through compensation.
As it now stands, agencies make the same fee whether the work is brilliant or average.
I have never understood this.
I mean, why should advertisers pay full fare for failure?