The client, a well known media company, was experiencing severe cost pressure which prompted the need to approach strategic supply partners for pricing concessions
The Agency of Record contract was active and not set to expire. However, requirements to shift advertising mix toward on-line and away from television necessitated the need to revise the agreement and achieve a more relevant creative strategy
Due to timing constraints and the need to preserve the agency relationship, there was limited appetite for introducing an RFP as a cost reduction tool
How We Helped
Axiom identified the savings opportunity and developed the negotiation strategy
Secured cooperation of the client’s senior marketing team including the CMO and SVP of Creative Services
Acted as lead negotiator on behalf of the client
Worked with the agency to develop revised pricing and new scope of services emphasizing on-line creative
Restructured the contract
Value Delivered
Secured immediate exit from existing contract
Rapidly delivered 28.5% savings within a 3 week time frame
Achieved a better fit of services emphasizing online creative, while preserving flexibility to address TV needs as required
Deepened procurement’s partnership with marketing, opening the door to realize value in other areas
