The old adage time is money never rings truer than in an agency. You can set pricing intelligently, diversify revenue streams and attract business by filling in-demand marketing needs. But, as a service business, your time and talent are directly tied to profitability.
Boost your personal productivity, and watch your agency reap the benefits, with these seven tips.Read More
Would you believe me if I told you that you’re losing up to 35 percent of your media-buying budget?
Everyone knows that you allocate about 15% of your budget to commissions if you’re working with a programmatic team. You allocate more if you’re still playing the game with networks or managed servers from one of the “big players.”
But you may not realize that impression fraud is estimated to eat up another 30%, meaning you’re starting with 35-45% less money than you thought you had.
That’s not good for the client or your agency. We have to face impression fraud head-on.Read More
As corporate-marketer-turned-agency-professional, one of the starkest contrasts for me was the decentralization of, well, almost everything. Teams, tasks and priorities are splintered across accounts, and your focus must shift between clients from one hour—or email—to the next.
With multiple clients to satisfy and competing priorities, it's easy for wires to get crossed.
This post contains six ways you can improve account team members’ communication to achieve greater transparency, stimulate collaboration, improve efficiency and deliver maximum value to the client.Read More
Like it or not, we all fail at different points in our life. Trust me on this one. It took me plenty of bruises as a kid to learn how to ride a bike, plenty of missed shots as a guard to make a basket and a healthy amount of rejection as a salesperson just to gain one “Yes.”
Instead of avoiding failure, we should embrace it.
Mistakes and mishaps foster growth. Failure is a place of great potential that allows us to accelerate success and improve through experience. But the fear of failure can be detrimental to our creativity, resulting in a lack of risk-taking and innovation stagnation.
As agency professionals, we must combat the fear of failure, or risk a reactive attitude toward clients. If you have strong client relationships rooted in trust, knowledge and past success, then proactively bring unique, creative campaign ideas to the table without hesitation.
Here is a checklist to help you stifle your failure phobia and start confidently suggesting new ideas to clients.Read More
We talk a lot about productivity—the art of getting more done, more efficiently. We don’t talk enough about proactivity—the art of anticipating needs, questions and concerns before they arise. Why is being more proactive so important?
Simple. Proactivity creates more value.
Recommendations, strategy and expertise are all valuable. But when proactively delivered, their value is amplified by orders of magnitude. Maybe it’s a client who receives an answer to the next question they were about to ask, or a campaign recommendation that solves a problem on the horizon. Whatever the situation, proactive solutions and words help you do better work, avoid serious setbacks, and drive client success.
Most importantly, proactivity turns you from a knowledgeable agency professional into an indispensable advisor. That’s a powerful difference when recurring revenue and long-term relationships are so critical to the bottom line.
Here’s how any agency professional can be more proactive starting today.Read More
The 80/20 Principle, sometimes called the Pareto principle (after the economist who first observed it), states that 80% of results come from 20% of the actions taken.
This rule is found in everything from business to personal relationships to nature itself. Lately, it’s been popularized by lifestyle hackers like Tim Ferriss (@tferriss) and management gurus like Richard Koch (@RichardKoch8020), author of The 80/20 Principle.
You’re reading this post because of the second guy. Koch wrote a series of books applying the 80/20 principle to life and business. I just read The 80/20 Manager and believe the ideas in it can make the lives of agency account managers easier.
Here are four 80/20 management principles outlined by Koch, and how account managers can use them to drive their agencies forward.Read More
According to Inc. Magazine, three out of four employees say their boss is the worst and most stressful part of their job. A full 65% of them say they would take a new boss over a pay raise.
Let that sink in for a minute.
A poor manager suddenly looks less like a nuisance and more like a serious liability.
The Inc. report also points out that poorly managed employees are the least productive, happy and healthy.
Talk about sub-standard management being bad for you and your agency.
If you want to avoid contributing to the statistics above, keep reading.
I asked PR 20/20’s four senior-level consultants to sit down and discuss what they’ve learned in their years of managing client accounts and agency professionals. What they shared can help first-time managers and veteran professionals alike manage people better and more effectively.
Each lesson is listed, along with one useful way to apply it starting today.
Below is a guest post from Don Broekelmann (@dbroekel), executive vice president at Influence & Co., a professional branding firm based out of Columbia, Mo. Don works with Influence & Co.’s brand partners to develop content marketing plans to create authentic engagement with specific customer segments.
When it comes to marketing, we all want the biggest bang for our buck. But there’s a common misconception that “the biggest bang” simply means reaching the most people.
It’s tempting to develop content that appeals to everyone. When it comes to content marketing, however, the key is quality — not quantity. Reaching the right audience through the best channels is the linchpin of a successful strategy.Read More
Few items are more important to your organization than managers who know how to effectively give and receive constructive feedback.
Good feedback practices enhance company culture, improve performance and supercharge talent development—all while strengthening bonds between managers, support teams and colleagues.
To give and receive constructive feedback is to walk a tightrope. But it’s a tightrope on which anyone can learn to balance.
In this post, we asked several marketing managers how they give and receive constructive feedback, and offer tips on how to do so effectively.