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Search results for: agency management

Why Your Agency Needs a Visionary and an Integrator, with Mark Winters.

[easy-social-share buttons=”facebook,twitter,google,linkedin,mail” counters=1 counter_pos=”topm” total_counter_pos=”leftbig” style=”icon_hover”] Mark Winters’ passion is helping entrepreneurs get unstuck so they can pursue their freedom. Depending on the unique situation, Mark’s talent for introducing just the right combination of perspective and process sparks teams to start moving, move faster, or begin moving in the proper direction – with clarity. As a teacher, coach, and facilitator, Mark spends most of his time directly engaged with entrepreneurial leadership teams as a Certified EOS Implementer—helping them implement EOS in their own companies. He’s delivered over 400 full-day EOS workshops with companies from around the U.S. Mark has been an entrepreneur since the age of 28, after catching the “bug” during B-school at the University of Chicago. At last count, he’s started/bought/sold/shut down 11 different companies. One recent venture, as a Founder and CEO, had a very successful exit – yielding a 100x cash return in less than 3 yrs. All this activity has led to some recognition, including being named a Tech Titan finalist as an emerging company CEO, and listed as “40 Under Forty” by the Business Journal in both Milwaukee and Dallas. Mark is a “Freedom Forum” member as an EOS Implementer. He was also awarded Rookie of the Year and Chair Excellence distinctions by Vistage International.     What you’ll learn about in this episode: The “visionary” and the “integrator” from “Rocket Fuel” by Gino Wickman and Mark C. Winters How visionaries and integrators can build trust so that integrators can take control of what visionaries create What business owners need to do when they are an integrator and they need a visionary (most owners are visionaries) If you are a visionary, how to determine if you have an integrator [...]

September 18th, 2017|

A Solution To The Agency Talent Dilemma

In a recent article in The Wall Street Journal, 4As President and CEO Nancy Hill commented on the talent crisis in the agency world that Unilever’s Keith Weed mentioned at Cannes Lions. Hill argued that top talent can’t afford to work for advertising agencies — where entry-level salaries are often less than their student debt load — and that client demands have created an economic environment that makes it impossible for agencies to compete with companies like Google and Microsoft for the most creative young professionals. The agency talent problem won’t be solved by throwing money at new hires — nor is it reasonable to expect clients to pay high-level fees for entry-level work. Yes, clients hold agencies hostage with cumbersome payment processes and the disintegration of the agency-of-record model, but as long as your agency is paying industry standard or better, you should be able to find good people who want to work in an agency. There isn’t a lack of talent, merely a lack of time. People seek agency jobs for many reasons, and salary is only part of it. They like flexing their creative muscles, solving business challenges, working on a variety of accounts and projects, and collaborating with smart, creative individuals.  These are the people you want to employ. The real problem isn’t that talent can’t afford to work for an agency. The problem is that most agencies look for an employee three months after they need one. The people hungry to work in agencies are out there, but you need to give yourself time to find them. When your agency signs a big client and you’re pressed to lighten the load, you often rush into hiring someone who may not be [...]

September 17th, 2017|

How CMOs Should Combat The Disintegration Of The Agency-of-Record Model

Like the Don Draper three-martini lunch, the agency-of-record model is becoming a thing of the past. Big brands like General Motors and PepsiCo are building agency teams rather than trusting one agency to handle all their creative needs. Back when marketing consisted of print, broadcast and PR, a generalist agency could easily handle all of a brand’s needs. But now that the marketing world has expanded to areas like mobile, digital, experiential marketing and social media, many of the larger brands believe it’s hard for one agency to be excellent at all those things. For agencies that want to work for the bigger brands, “specialize or die” has become the name of the game, and as brands seek best-in-breed specialists to take on smaller chunks of their marketing, the agency of record is morphing into the team of record. If your brand has decided to play the field instead of settling down with one agency, you need to be aware of the potential pitfalls and how to get your agency army to collaborate effectively. New Model, New Problems A multi-agency approach to marketing is still relatively new, which means brands and their agencies are encountering a host of new challenges. While most brands are still experimenting with the freedom to purchase agency services à la carte, they’re often losing sight of who’s minding the store. That’s the biggest problem with employing multiple agency partners: No AOR means no one is overseeing the overarching brand strategy. This can lead to: Disjointed projects that fail to create a cohesive brand image. Partners duplicating one another’s work, wasting resources. Agencies undermining other agency partners in an effort to capture more client work. CMOs functioning as project managers rather [...]

September 13th, 2017|

Accelerate Agency Vision by Getting on Your Soapbox

Agencies are beautiful, chaotic places to work. The nature of creative client work means the agency is always in a state of flux, growing and pivoting as clients do. The ability to adjust quickly is critical to survival, but it makes it all too easy for the agency vision to get lost in the daily shuffle. Recently, I worked with a mid-sized agency in Chicago that had good people, solid work, and consistent clients. The problem was that they were stuck. After a few years of stagnant billings and staff size, the owner decided to make a few changes. He instituted monthly “state of the agency” meetings, where he outlined the agency’s long-term vision and updated the staff on financial goals. He also established quarterly and yearly meetings that allowed the team to discuss goals and establish concrete action steps for achieving them. In the four years since instituting those changes, the agency has seen double-digit growth every year. Employees are happier and more energized, and the company is making a name for itself. On the surface, it seems really obvious:  You need a clear vision to grow an agency. But it’s easy to get caught up in the daily grind and, when you do, you often miss clues that something is about to go terribly wrong. Why It’s Important to Look Up Agencies that stay in tactical mode all the time will almost certainly miss warning signs that they’re wandering off-target. This is what I like to call “shiny object syndrome.” With digital marketing, there seems to be a new “shiny object” every year. Focusing on your overarching vision will keep you from chasing every shiny object that comes along and help you pick [...]

September 8th, 2017|

Types of Agencies: What Kind of Agency Do You Want to Build?

Agencies face all sorts of challenges as they struggle to decide what kinds of clients to serve and what kinds of deliverables to offer, and there are many different types of agencies you can be as well. For this special solocast (it’s our 100th episode!), I want to get you thinking about what kind of agency it is that you are trying to build and nurture. Some agencies build custom solutions for every client – a very labor intensive, creative endeavor. Others have a more limited list of services and products and do less custom work. There are pros and cons with each but you really need to decide which makes more sense, based on your goals. Problems tend to arise when these types of agencies don’t make a conscious choice as to which kind of agency they would like to build and nurture. Both are fine choices but you have to make a choice. Join me in determining which kind of an agency you are suited to build and why. We’ll cover: Two types of agencies: “Artisan bakery agencies” (every project they produce is custom made for a client) and “Wonder Bread factory agencies” (where they follow systems and processes to produce the same limited set of things for every client) Why clients often work with both of these kinds of agencies, sometimes even at the same time Misconceptions owners of both kinds of agencies have about each other Assessing what type of agency you own (and why it may fall in the middle of these two types) Some of the pros of running an “Artisan bakery agency”: you can hire millennials, you can be a partner for your clients, and the prestige that [...]

September 7th, 2017|

How to Run an Ad Agency

Working at an agency means you get to hang out with smart, creative people all day long. It also means you’re dealing with a lot of strong personalities — imaginative, outspoken, and sometimes a bit too confident. When you step into agency leadership, you have to transition from collaborating with these personalities to managing them. Outspoken team members are always difficult to lead, but they present a special challenge in an agency environment, where you rely on their original thinking and courageous attitudes. When thinking about how to run an ad agency, reining in these personalities without breaking their spirits requires a delicate leadership balance. As an agency owner for more than 20 years, I’ve had the chance to work with outstanding talent, and I’ve seen my fair share of strong personalities. I’ve learned that nurturing creative thinkers requires a special approach. But with smart management and clear communication, both your strong personalities and your agency can flourish. Here are four ways to maintain control of your outspoken team members without dampening their creativity: 1) Invest in leadership training. A lot of agency leaders came up in the industry. Many landed their positions because of their creative and technical expertise — not their interpersonal skills — and have never had formal leadership training. This problem is magnified for young leaders. They’ve been praised throughout their careers for being outspoken and unafraid to take risks, so they may not handle disagreements as respectfully as they should. If the people below them are older, they may feel intimidated and project a false bravado to appear more confident. Sound familiar? Even if you’re a natural-born leader, invest in leadership training for yourself and your entire team. Communication and [...]

August 30th, 2017|

Sharing Data: Why It’s Crucial To A Successful Agency Partnership

You wouldn’t visit a tailor and request a custom-made suit without providing measurements, would you? So why would you approach an agency in search of better lead generation without sharing data? In short, you wouldn’t. Yet this happens all the time—to the detriment of an otherwise fruitful agency partnership. Just as it’s impossible to make a suit fit perfectly without measurements, it’s difficult for agencies to deliver qualified sales leads without access to critical data. Meaningful lead generation is only possible when an agency can build, execute, and monitor the right plan for your company. If you don’t grant an agency access to sales data, prospect databases, sales calls, follow-up reports, and other crucial information, you’ll never get a tailor-made solution. The Right Data Makes A Difference Right now, agencies and CMOs are under incredible pressure to leverage their marketing dollars to deliver leads. This is happening for a few reasons. First and foremost, they know that 79% of marketing leads don’t convert into sales and that up to 50% of qualified leads aren’t ready to buy. Furthermore, layoffs during the recession created leaner sales teams that need more support from marketing to drive leads into the sales funnel. As a result, CMOs have to fight to grow or even maintain their marketing budgets. On top of that, to justify any marketing spend, CEOs demand data that shows marketing initiatives move the bottom line. That’s why it’s so important for clients to allow open access to their sales processes. This way, an agency can dig deeper into the sales funnel. The more it knows, the better results it can deliver. For example, one of the agencies I work with insists on having sales data, sales-cycle data, [...]

August 28th, 2017|

Awards Are More Than Fancy Paperweights — They’re Good for Your Agency

Everyone eagerly awaits Hollywood’s most glamorous red carpet moments. They want to see who the lucky dates are, who gets too tipsy, and who takes home a gold statue. But why should Hollywood have all the fun? Creative agencies deserve recognition too. Events such as the CLIO Awards, the Cannes Lions and The One Show are opportunities for creative agencies to receive recognition for themselves and their clients and take home the awards—not to mention a chance to glam it up and have a party. Yet agency leaders are often reluctant to enter these competitions. They mistakenly view the process as a distraction at best, and a waste of time and resources at worst. Creatives are usually the ones driving award initiatives, trying to convince their bosses that submitting their work isn’t just about their own ego. The truth is that awards are more than fancy, feel-good paperweights; they’re actually good for the bottom line. Here’s why: Awards establish benchmarks. Award-winning ads are 11 times more effective than other ads. Using awards’ standards for projects can raise the bar within your agency and increase overall work quality. By distinguishing the best talent, awards also help establish benchmarks that inspire and shape the industry. Winning differentiates your agency. According to the 2014 AMI research report, more than a third of companies are looking for an agency to gain specialized expertise. Peer recognition helps distinguish your agency from the herd. The key is to apply for awards that mean something to your market. For example, Ford and Coca-Cola will likely be interested in how many CLIO or Cannes Lions awards you’ve racked up over the years. Added credibility can help you win new business. Current clients may not care [...]

August 25th, 2017|

Marketers, There Isn’t an Algorithm to Finding The Perfect Agency

From Match.com and OkCupid to Hinge and Tinder, online and mobile applications are taking the dating world by storm, however, the algorithm-driven processes used by these sites don’t work for finding agency relationships. Data-centric tools such as Sortlist claim to help marketers find their “soul mate” agency, much like what Match.com promises to do for singles. Sortlist and similar platforms use system intelligence to match an advertising agency and in-house marketers looking for services. But an algorithm will never be able to replace real human connection when it comes to matching agencies and companies. The AOR Model Goes MIA Today, the traditional “agency of record” model is rapidly disintegrating. Clients used to be willing to ride out the valleys of their agency relationships, knowing that the peak was around the corner. As the number of advertising disciplines continues to increase, clients are less likely to believe that any one agency can be an expert in all of them, so they seek specialists for each task. This changes their agency relationships as well, causing them to switch partners on a project-by-project basis — and making it all the more tempting to use an automated system for the selection process. Where’s the Chemistry? Marketers don’t just need an agency that meets their advertising and communications needs, they need to share a special chemistry with a partner. Tools such as Sortlist attempt to speed up the process by using context and data, but no amount of technical intricacy can mimic the human touch provided by consultants, recommendations, and word of mouth. People in the agency world understand this better than people in any other industry. Our work is based on the fact that buying decisions are rooted in emotion–that’s [...]

August 23rd, 2017|

Why Processes are Important: Your Agency (Not Your Clients) Should Come First

Anyone who’s ever worked in an agency knows how demanding clients can be. If you keep your clients happy, you’ll keep your agency happy, right? Wrong. As an agency owner, it’s all too easy to get sucked into the day-to-day tasks of client service. It actually much better for your agency when you do exactly the opposite. It may be hard to see why processes are important, but they play a key roll in any agency. Spend the bulk of your time developing your agency’s processes, people, and future, rather than talking with clients. You'll see these benefits for your agency when you step out of the weeds and into big-picture planning. Maintain forward momentum. Employees throughout the agency see you as the visionary who sets the course. If you’re not tracking trends, keeping tabs on industry shifts, and anticipating new business needs and opportunities, no one else will. It’s your job to push the agency to evolve and to take your clients with you. Attract -- and retain -- great talent. Employees want to work somewhere with a purpose. As the owner, it’s important to identify and retain people seeking more than paychecks. The more you’re able to get out of the weeds, the more opportunities you provide for your best people to grow. Set the right precedents. Clients need to trust everyone on your team. If you’re too deep in day-to-day tasks, you’re communicating to clients that you don’t trust your people enough to let them handle things. Plus, it makes it hard for you to escape the office. Owners who operate at too granular a level can’t take real vacations, turn off their phones, or disconnect from work. It’s not healthy. Your [...]

August 11th, 2017|

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