ANA Discussion: How to Maximize The Production Spend
By Pamela Maythenyi
At the ANA Financial Management Conference in Boca Raton, FL today, a panel of distinguished advertiser production executives discussed how to maximize the production spend. The moderator was John Lick, Executive Producer, Broadcast Production Target Corporation and Co-Chair, ANA Production Management Committee. The other panelists were Chris Furse, Senior Manager of Advertising at Burger King Corporation; Valerie Light, Advertising Production Manager at Verizon Communications and Co-Chair, ANA Production Management Committee and Barry Rosen Executive Producer at Direct Focus, Inc.
John Lick’s advice to the audience was for the advertiser to be up front at the beginning of the process. To make sure the right dialogue has taken place up and down the line to prevent significant reworking on the back end that can be so costly. He futher added that people shouldn’t play the shell game with their agencies. They should give the agency the real parameters right up front.
Valerie Light’s suggestion for maximizing the production spend is bundling productions, whether across brands with one production company or combining TV and online. Also sharing assets. Valerie further suggested reviewing talent and residual costs, especially holding fees.
Chris Furse said that competitively bidding helped keep costs down, but that single bidding was not out of the question and sometimes also a cost saver using leveraged relationships for great rates. He also suggested another way was to use more up and coming talent.
Barry Rosen said that micromanaging doesn’t give you big savings, look at the big picture, like shoot location or talent. A big change can effect a big savings. He also added that production people should not be afraid to break the mold, just because something’s been done one way for a long time, doesn’t make it the best way.
All in all, good advice for the 500+ attendees at the sold out event.
Published April 27, 2010