ExxonMobil Reviewing Its Creative and Media Agencies
IRVING, Texas -- ExxonMobil is conducting a global review of all its creative and media agencies. The business is worth $50 million in revenue across both assignments, Adweek reported.
The move has been touted as a massive consolidation play. On the creative side, the oil and gas giant may trim its roster of agencies from three to two -- an about-face from its initial plan of parking its account at a single shop, according to the report.
ExxonMobil's planning for the review began in early October 2010. Two months later, the company hired Joanne Davis Consulting to manage the process. Requests for proposals circulated in early 2011, and after meeting a broader group of creative contenders that included Euro RSCG, Publicis and The Martin Agency, the company narrowed the field to a final three, which made presentations two months ago at ExxonMobil’s headquarters in Texas.
Meanwhile, ExxonMobil has separately evaluated its three media agencies: Universal McCann, MPG and OMD. They face no outsider opposition, according to Adweek.
During the summer, the media contest was further along than the creative process, but now both competitions are neck and neck. Its global media spending exceeds $300 million a year.
In recent weeks, ExxonMobil executives have asked contenders for more information on fee proposals -- a sure sign the end is near. The latest decision date is the end of October.