MONETIZATION OF BUSINESS RELATIONSHIPS FOR A MEDIA AGENCY ASSOCIATION
The plan of action for the media agency association are involves monetization of business relationships by upselling social media and digital marketing services.
There are two broad elements to the invoicing of the SPO company are retainer (which would consist of a blend of recurring and one-time services), ad handling fee (against the advertising budget of the client).
The modus operandi would work wherein the sales team of the agency would meet with prospects (preferably existing clients of the agency) and understand their objectives when it comes to digital marketing and postulate on a suitable budget. If the sales executive is able, they’d be providing a first level explanation of the kinds of services on offer/recommend services and ad budgets to the client.
Once the initial briefing is complete, the sales team would work with the SPO company and create a pitch deck for the client. This would usually include a dedicated strategy note and commercials (in the case of paid marketing, it would be a recommended amount). The service fee is usually charged for rendering services like social media marketing (posters, content creation and so on) and ad handling fee (fixed at a percentage on the budget of the client, as, unlike traditional media releases, releasing an ad on digital involves constant optimization, targeting and reporting - the scale of which increases with budget).
The revenue sharing between the agency and the SPO company would work on a percentage basis when it comes to both the retainer and the ad handling fee. On an on-going basis the agency would be able to review performance and upsell additional services to the client.
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