Partings can be painful — especially the dynamic and often close relationship between a brand and its creative or media agency. But if a break-up seems inevitable, don’t rush: talking to Financial Progression first can help in a number of important ways.
We find that once a brand has served notice on an agency, both parties tend to take their eye off the ball. Often, this means that the frequency of errors increases and it’s amazing how often they don’t fall in your favour. Our exit audits check that invoices are accurate, any monies owed to you are returned and any amounts due to the agency are paid. Those errors can be material (5-10% of annual spend), particularly if it has been a while since the last contract compliance audit of the agency took place.
If you’ve never audited the agency, an exit audit also happens to be a low-risk way of finding out how marketing contract compliance audits work in practice (after all there’s no longer an ongoing relationship to consider). Exit audits also enable both parties to say goodbye in a structured and professional manner.
→ Click to find out more on exit audits of advertising and marketing agencies.