A modest sized marketing services agency I do occasional work for has an awards wall, where industry peer bestowed awards appear, a feature of most service agencies I have seen. However, theirs has two wrinkles
- Beneath each award is a further rating, done in collaboration with the relevant client that records the effectiveness of the ad/campaign, whatever it was, in the only awards arena that really matters, the marketplace.
- Campaigns that fail to win industry awards, which is most of them, are also subjected to their internal assessment of effectiveness, and they give it an internal award, and a spot on the wall.
As part of the effectiveness assessment underneath each award is a record of the assumptions, that drove the communication strategy, and their own internal award, the rating of which goes from “ratshit” to “not again” to “OK” to “dreamtime”. It also records what they collectively did right and wrong to deliver the result, and what they learnt that can be applied next time.
The wall provides a talking point, is a reminder each day of the reason they are in business, and how they are performing. Making performance transparent in this manner can be confronting, but time and time again, as I review best management practice, I see such transparency as a key success factor.
Oh, and another small wrinkle that sets them apart. They apply a pre-agreed sliding fee scale based on the agreed performance against objectives they set with their clients, so they always have skin in the game.
Clients love it!