Commercial Essentials Certificate
Financial processes, make money.
Agencies must be strong, both creatively and commercially to succeed.
This qualification will introduce you to the fundamentals of agency and client business commercially, so you can incorporate that learning into your day to day work as early as possible.
Who is this qualification for?
This qualification will introduce you to the fundamentals of agency and client business commercially, so you can incorporate that learning into your day to day work as early as possible.
What are the benefits?
- How agencies make money and the financial processes within an agency
- The financial language in use in client and agency businesses today
- What best practice financial management looks like for day to day activities such as media booking and production
- The KPIs clients and agencies use to measure the commercial success
- The different feel models in use today
- How to scope a project
How is the qualification delivered and assessed?
- There are approximately 12 hours of online learning accessible through the IPA website on any device or via the IPA Learning app.
- By completing a diagnostic quiz before you start, you can tailor your learning and the level of detail of your study.
- If you complete all seven modules, two self-tests, and pass the online exam, you will be awarded one MIPA star.
The 2022 Intake Dates
The 2022 intake commences on 30 May 2022.
Module 1
Understanding Agency Finances
This module explores the language and processes of finance i.e. what key financial terms mean and how finance is managed in a typical Advertising and Communications business.
Module 2
The Key Numbers for Agencies
Explores KPIs (key performance indicators), we focus on which KPIs are used to measure an agency’s financial performance and the key ratios used across the industry to benchmark KPIs.
Module 3
Fees: How Agencies Are Paid
Looks at the different fee models in use today and the advantages and disadvantages of each. We look at the principles of pricing and the six factors influencing pricing decisions. Importantly, this module includes a section on understanding the role a client’s procurement department plays and how to get them on side.
Module 4
Finance and Production
This module teaches how to effectively manage the complex and costly process of production to produce quality assets while avoiding exposing the client or agency to financial risk. We give an insight into different production processes and the tools and strategies for good financial management.
Module 5
Finance and Media Agencies
We look at how to manage media-specific finance issues including credit insurance, the client approval process and media bookings. We take a look at the financial considerations of booking media in today’s “always on” world.
Module 6
Scope of Work
This module explains the financial importance of a scope of work. It guides you through how to create and manage a scope of work. It also provides a downloadable SOW template, one of the most important tools to ensure your projects deliver on time and budget.
Module 7
Understanding Client Finances
We look at some of the financial terminology likely to be used by clients, what to look for in a client’s annual report and which business metrics clients typically use to measure an agency’s impact on their business.
Become qualified in evaluating and measuring advertising and marketing effectiveness