An RFP (Request for Proposal) is an important document that allows buyers and planners to identify the right media partners to promote your brands messaging. This process is very much like a dating profile. It gives agencies all the information they need to know to see if they are the right fit for this relationship or fulfill a client’s needs.
These 5 elements are the key to a successful well-defined relationship between client and media agency.
This provides agencies with some information about you, the client. Think of it as a way for the agency to get to know you better. Tell us something Google can’t tell us, or we can’t find on your profile (company website). It’s an opportunity for clients to lay the foundation for your cultural fit by telling the agency about the personality of your team and your values. This will help determine if the agency and client will be compatible and potentially live happily ever after.
2. Target Audience
The target audience is one of the most important aspects of a good media plan to help identify precisely who you (the brand) are looking for in this relationship. Think about who you want to speak to, who you want to engage, and the kind of experience you want to have with them.
3. Campaign Goals and Metrics for Success
It’s very important to be clear on the scope of work you expect. It’s all about setting expectations. If you can’t paint the picture of what success looks like, how can agencies know if they can do the job for you or not, without knowing what you need? Giving agencies the right information will help to ensure you don’t waste your time (or theirs) and avoid any dramatic breakups later on.
4. Timing/Campaign Duration
Give details now so your partner knows what kind of timeline you are on. Are there specific deadlines that need to be met? Is your campaign coinciding with seasonality or timed with a launch with another program? If there anything driving your go-live date?
After all, if you are expecting an engagement after a year, they’ll need to get on the same page!
5. Campaign Budget
The million-dollar question! Nobody asks this on the first date, so we get it, it is way too personal. Many clients hesitate to share this because at the end of the day, every client wants to get as much as they can with the smallest of budgets. However, by stating what you want to pay, agencies won’t overdeliver a plan that is unrealistic or something that is underwhelming.
If you follow these simple elements, you can expect to receive an incredibly effective media plan. Sometimes, a simple old school phone call works wonders. Asking them questions about what they can achieve and what they think you should do to get to your goals. Most agencies are more than happy to get on a call. Some agencies would even work with you to help you answer the questions above, saving you precious time. In the end, an RFP is designed to help you find your match.