The key to success behind our retail partnership model
The biggest mistake that can be made when describing how Threefold operates is to refer to us as a ‘middleman.’ A middleman by definition is a person that ‘arranges deals between other people.’ In our line of work however, we do so much more than ‘arrange’ – we create ideas, we develop strategies, we use tech to inform our choices, we manage the whole end to end process, recommend, negotiate, build, adapt, report and so much more.
On the account I look after – The Very Group – the role for a conduit between supplier and client is vital. We need to be able to combine the objectives of both and deliver a cohesive and clear plan that meets all objectives and keeps both parties happy. Put simply, we can apply an objective lens to our campaigns that means both parties know we have their interests at heart and that we will be building campaigns that support a combined set of KPIs.
Coupled with this objective lens, we can bring expertise and campaign management capabilities that businesses cannot deliver in-house. Our ‘agency’ model allows us to attract the brightest and best creative minds to ensure we continue to deliver award winning and results-driven campaigns.
However, probably the most important aspect of this way of operating is the trust that is built and earned. Our model is transparent and clear, and brands know that by investing with us we are only motivated by delivering a campaign that works for them. If a campaign doesn’t perform, they are unlikely to invest with us again and thus stop fuelling the business success. Hence, everyone knows that there are no ulterior motives, we are just as incentivised as they are to see a campaign work brilliantly.
This trust is earned across many years of honing how we work within a retail setting – we are about to enter our 10th year with TVG and have continued to grow the supplier funding footprint each year throughout the period. From a retailer’s perspective, if we were not in place and not a 3rd party then the negotiation of marketing, of terms and any additional commercial elements could run the risk of melding into one. By keeping the supplier funded marketing function very separate, it protects the retailer’s income and ensures that the model is working as hard as it can for them. Coupled with us driving new footfall to site – and increasing the propensity of purchase across the total department store that TVG operate.
By having our agency in place, both parties know that we are incentivised to deliver on their KPIs. We need to ensure that brands are generating an ROI and see the merit in re-investing. Plus we continue to drive the size of the supplier funding pool at the retailer whilst driving new customers to site and increasing sales. A win-win built on trust, on campaigns that deliver and on a team of committed individuals that have both parties interests at heart when building and developing our marketing campaigns.
To discuss any of the above, get in touch - we're always keen for a cuppa, even if it's virtual.