October 15, 2007 | Author: Tim Williams
In the hustle and bustle of servicing demanding clients, many agency professionals have lost their bearings. They no longer distinguish between what is urgent and what is important; everything is urgent – or at least it appears to be.
Account executives spend their day in a reactive mode, waiting for the next e-mail or voice mail to tell them what to do. They often end their work day feeling that they kept up with their inbox but didn't accomplish anything important. It's no wonder that many talented people are simply leaving...
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September 15, 2007 | Author: Tim Williams
Besides doing good quality work, there are a number of things agencies can do to justify charging a premium price for what they do. Economists and professional pricers teach these principles in other industries; there's no reason we can't apply them to the advertising business.
Fixed price vs. variable price. A fixed-rate mortgage always costs more than a variable-rate one. That's because there's value in knowing exactly what you're going to pay for a service or outcome.
Service guarantee. Offering a 100% guarantee that your client will be pleased with your services...
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August 15, 2007 | Author: Tim Williams
Here's your assignment: get your management team together to design the agency of the future. It's not an easy undertaking. But asking these 20 key questions should help lead you to the right answers:
1. Beyond advertising, have we defined what business we're really in?
2. What is the ultimate value that we need to deliver to become more relevant to our clients?
3. How can we address client perceptions that the traditional account executive role has lost its value?
4. What do we need to...
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July 15, 2007 | Author: Tim Williams
Most advertising professionals are earnestly looking for the right answers to what they should be doing to make their agencies more relevant and valuable to clients.
But most good answers are the result of asking good questions. Here are three of the most important:
The Wrong Question: How can we get paid for all of the time we're spending on our client's business?
The Right Question: How can we get paid for the value we are adding to our client's...
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June 15, 2007 | Author: Tim Williams
The traditional advertising agency is now facing competition on all fronts. Upstream are marketing consultancies, brand consultancies and research firms—all claiming to provide better strategic planning than agencies. Downstream are media firms (who are now also in the business of strategic...
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