The Workamajig Blog
Long live the golden era of television, print, and radio advertising. While it’s true that some agencies still produce multi-million-dollar 30-second TV spots and others still retain massive agency-of-record contracts with global brands, the vast majority of agencies—especially those founded in the past decade or so—focus on a more integrated approach that combines digital media, social media, and traditional media.
Intellectual capital is critical for creative agencies. In an industry where skill sets such as creativity and knowledge are precious assets, the core problems we face in marketing and advertising generally center on people—or the lack thereof. And often, these intangible resources are far more valuable than material assets.
We’re already several months into the new year, and the goals you’ve set for your team are starting to feel real. If you’re like most business owners, you’ve spent a lot of time focusing on how to improve strategies that worked the previous year. Maybe it’s refining which social channels you distribute content to or deciding to scale up your sales team. While exercises like these reflect a healthy “finger on the pulse” approach to opening yourself up to increased revenue, they won’t necessarily open the door to new types of revenue opportunities. Because a creative agency always should be looking for new business, we’ve pulled together four agency new business strategies we imagine you haven’t tried yet.
While there are many differences between a typical creative agency and a content marketing agency, there are also many similarities. Especially when considering creative project management best practices that can be applied to content marketing as well. While the carryover may not be a 100 percent match, the similarities make it easy to apply these three aspects:
One of the trickiest things about managing an agency comes down to the product you’re selling: expertise. Ultimately, what your team members bring to the table is their collective experience and the ability to either guide your client through execution of key strategies or to execute the suggested course of action themselves.
Project management requires both forethought and dedication. Forethought, as in the ability to think clearly about what the entire project will entail and lay out an adequate plan for it. Dedication, as in the perseverance to adhere to that plan and see things through. But the best-laid plans can still go awry. That’s where the third piece of the puzzle arises: flexibility. From project kickoff to submitting your final deliverable, here are the three steps to rocking your next project:
As 2016 comes to an end, it’s the perfect time to reflect on this year’s successes and where there’s opportunity for improvement. It’s a particularly fertile time of year for creative teams across all industries. Budgets are redistributed, metrics are finalized, and holiday parties run red with mulled wine.
If you already use revenue forecasting, it is clear that there are a lot of factors that need to be considered. From accounting for different client requirements to adjusting for team size, there are a lot of areas that can make or break your revenue forecasting model. A lot of those are simple to factor into a revenue prediction and are pretty easy to remember to adjust as well. There are other factors that are less obvious and often overlooked, such as the market or staff experience. Take a look at these three areas that you should address when you’re setting up your revenue forecasting for the next period:
Your project communication plan provides direction for your team. If your project veers off course, it could be due to your communication plan. Clarifying your project’s goals, how you will achieve them, and how your team will collaborate along the way is essential for keeping a project on track, within budget, and in line with your client’s expectations.
Closing out 2016 the right way is the first step toward starting 2017 strong. Knowing where you have been in the past 12 months will help you prepare for the year ahead. But the strength of your planning depends upon the thoroughness of your year-end closing efforts and the precision of your resulting performance reporting.