Know Your Customer (KYC)

KYC is a very talked about term theses days amongst most sales oriented organizations. In fact, among some domains (Telecom, Finance, etc) this is actually being enforced by the regulatory authorities. However, this is one aspect that agencies have to take up on a war footing.

No, no.. I dont mean to say that agencies dont know their customer.. it is a bit deeper than that..

It is one thing to know the people who "man" the various stations/ offices but quite another to know the business that they are in. And, that is what I mean that agencies need to understand the business because, it is the business or the brand who is the Customer for the agency.

Yes, no one will admit that they dont understand the business of their Client; but, conversely if I were to ask the Clients if they think that the people at their agency understand their business - the answer may not be a very sweet one. So, lets accept it - we know very little about our clients businesses.

And, this I believe is at the core of the usually publicized commoditization of agency deliverables.

In the absence of suitable knowledge about the business, the communication recommendations from the media as well as the creative agency would be limited to some very superficial idea about how their inputs and efforts would affect the business. The dialogue between the agency and the client is limited to only "media language" and does not graduate to "business talk" that really matters to the client. Unless, the Client appreciates our knowledge and understanding of his business - he/ she wont really give any weightage to any inputs in the realm of strategy.

Doing a campaign is a very transactional thing and we do these by the score - however, strategy is something which is very integral and cannot be done on the basis of the media knowledge only.

But, it is a chicken and egg story. Unless, we understand the business, the client wont involve us in the strategic process and unless we get involved in the strategic process - we wont really be able to understand the business. Anyways, the onus for change is on the agency - unless, the agency is happy just delivering vanilla media campaigns and over a period of time getting more and more marginalized and commoditized.

So, the new mantra of "KYC" has to be taken up by the agencies in earnest and impute the learnings into the process of media solution design. This stance of KYC would need re-orientation of skillsets and resources so that the focus is on the strategic and not just the transactional deliveries.

Lastly, I would say that the ultimate beneficiaries of an agency that understands their business - shall be the clients themselves. Hence, the Clients must encourage this shift and not keep the agency at arms-length when it comes to sharing knowledge and information about their business.

Only, an agency that knows your business can grow your business!!