Darren Woolley, CEOLately, companies are realizing the importance of procurement not only in sourcing commodities but also in other areas such as marketing. A faulty marketing strategy or updating current marketing methodologies could cost an arm and leg for organizations. It is, therefore, essential to find appropriate marketing procurement methods to optimize productivity and optimise top-line growth. However, knocking the door of different agencies for each initiative or campaign sounds tiresome and involves a lot of costs. On the other hand, agencies need to be efficient in delivering solutions as well. Therefore, companies are looking for a one-stop-shop to identify the right solutions and optimize the marketing procurement processes to enhance efficiency as well as minimize the costs involved. TrinityP3, a global marketing consultancy with over two decades of experience in the space is addressing these problems with their innovative business model and go-to-market approach by creating a win-win situation for both the marketers and the agencies.
“2020 is going to be a special year at TrinityP3 as we are going to celebrate 20 years of market presence. We as a company have come a long way since our early years”, begins Darren Woolley, Global CEO, TrinityP3.
From Humble Beginnings to Strategic Growth
During the late nineties, Woolley was working as one of the creative directors in J.Walter Thompson in Australia and also served as the President of Melbourne Advertising and Design Club. This had put him into a unique position where he came across a vast number of creative people complaining about the lack of value for creativity amongst advertisers. At the same time, his interactions with a lot of marketers and advertisers also revealed their issues with the way agencies work. According to them, agencies lack the interest to understand what their challenges and problems were and were too busy sort of pushing solutions onto them.
Darren could sense a massive gap in the marketplace and also saw an opportunity that could bind marketing resources along with creative and strategic thinking. This led to the birth of P3 that stood for People, Purpose, and Process—helping people achieve commercial purpose through creative processes.
The company was initially engaged primarily as a cost consultant — looking at what marketers and advertisers were paying for and the services they were receiving and checking if their money was put to the best use across production, agency fees, media and the like. By2005-2007, as Woolley recalls, when sourcing professionals have started taking over the world of cost consulting. In tune to the trend, P3 evolved into being more about managing vendors which includes relationship management, performance management, structuring roster of supplies for marketing, and so forth. During this second stage of the business, the company was much more into process consultancy rather than simply cost consultancy, which continued from 2007- 2012. This phase also witnessed the company developing an Evalu8ing technology platform that measures how effectively the marketers and their various agencies are working and collaborating. They also began expanding the business to Asia, where they worked with marketers to help them define their strategy and then observed how marketing structures supported it. “So this is where it evolved into the third stage of our business, which was much more about structural strategy consulting,” adds Woolley.
By 2007, P3 found that the majority of their clients are marketers, sourcing professionals, vendors, and suppliers. As such, marketing, finance and procurement, and supplying agencies became the trinity of stakeholders that they worked with. The company decided to change its name in 2007 before moving to Asia, from P3 to TrinityP3. By then, they had carved a niche in providing tailored solutions for various marketing, media, and advertisement challenges to achieve improved business outcomes for its clients.
If one intimately understands the problem, then the solution always present itself
A Qualitative and Quantitative Approach to Marketing Management
As a strategy consultant, TrinityP3 has a unique and robust client onboarding methodology. According to Woolley, “usually, the problems faced by the companies or the agencies fall into one of the common challenges around technology, structural alignment, media channels, content, and creativity.” To this end, TrinityP3 begins with understanding the underlying causes and not just the symptom. This follows by understanding where the clients are positioned currently and why they are there, why does the problem exist, and what the cost and performance implications. Darren believes that if one itimately understands the problem, then the solution will present itself.
TrinityP3 implements a qualitative and quantitative approach to define the underlying problems. The company then conveys it back to the stakeholders and get an agreement and don’t follow a cookie-cutter approach. TrinityP3 uses design thinking to not just design one solution, but often provides clients with multiple personalized solutions for consideration. They also create a financial model for each of the options to show its inherent fiscal benefits. These kind of efforts help the clients to reach on a collective decision and then prioritise the challenges that needs to be overcome to deliver the identified benefits. The next step is the company encourages the clients to upfront, identify the things that they’d want TrinityP3 to assist them with in the implementation versus the things that they’d take responsibility for.
The TrinityP3 Differentiator
TrinityP3 have undertaken numerous projects at market and multi-country levels with various financial, telecommunication, and service-based companies. Unlike its competitors, TrinityP3 focuses more on improving productivity and performance rather than measuring effectiveness and efficiency— they want to help clients witness an increase in the outputs for the investment that exists rather than just cutting costs. The starting point is understanding the strategic needs of the organisation and marketing and then aligning the structure, capabilities and process to that strategy both within the organisation and across the external marketing agencies and suppliers. Along with that, the company believes in sharing its knowledge, and in that context, they regularly share insights about new solutions on their websites. They have blogs, weekly podcasts, and even publishes a book every year that shares the most important insights from their work.
Moving Towards a Brighter Future
TrinityP3 will be celebrating its 20th anniversary in January 2020. The year will also witness the company conquering new milestones such as consolidating their presence in London and a joint venture in Zurich as well with the view of expanding our offering across Europe and the US. “I believe that it is the right time to take our work in the Asia-Pacific region to solve the complex challenges facing marketers everywhere,” adds Woolley. To provide rigor to the marketing management and procurement process, TrinityP3 emphasizes applying their proven methodology, which they have been fine-tuning from the past 20 years as it suits all kinds of market structure and size, but results in bespoke solutions to address every clients needs.