Following their release in May of new industry guidelines for the buy-side -- at both advertisers and agencies --
working with "diverse" media suppliers, top U.S. ad trade associations this morning released a companion set of guidelines for suppliers working with advertisers and
The recommendations, which were created by the Association of National Advertisers, the American Association of Advertising Agencies, and the Alliance for Inclusive & Multicultural
Marketing, were developed as a follow-up to the "buyers" guidelines in order to help the diverse media supply chain standardize its processes.
The new guidelines, published in a new
report, include the following recommendations:
- Register Your Business on Marketer Supplier Portals: Most marketers have their own portals that serve as a
database for diverse suppliers, and suppliers should register their businesses on these portals. The portals should be just one step in building a relationship with the marketer, and diverse suppliers
are encouraged to stay in regular contact (e.g., quarterly) with the marketer and/or its agency.
- Consider Certification: Diverse-owned media suppliers
which are not certified should consider getting their certification from the relevant organization(s). There are multiple benefits of obtaining certification. For example, certified businesses
are included in more RFPs, which provides additional exposure to corporate marketing departments, which leads to increased sales. Certification therefore maximizes the opportunity for suppliers
to be considered and hired.
- Push Back on Extended Payment Terms: Many marketers have extended payment terms for various marketing
services to improve their own cash flow. Diverse suppliers should push back when extended payment terms are requested. The business models and livelihoods of smaller players in the marketing supply
chain, like diverse suppliers, can be threatened by extended terms.
- Be Clear on Evaluation Criteria: Make sure RFIs are clear about the evaluation
criteria suppliers will be measured against to be sure buyers are setting realistic goals. Diverse media suppliers should seek to understand how success will be measured to deliver against campaign
goals and/or level-set expectations on gaps in measurement that should be highlighted from the outset.
- The Value of Case Studies: Diverse media
suppliers are encouraged to curate case studies displaying work they have done with national advertisers. Buyers appreciate learning via case studies.