Is Your Agency Fully Prepared for Our Increasingly Unpredictable World?
In today’s uncertain world, are you truly prepared for whatever is coming next?
This is a particularly daunting time for agency owners to manage and grow their marketing communications firms. Even though the past few years have been highly profitable for many agencies, that could change almost overnight.
We’re entering our third year of dealing with the challenges of COVID-19 including the logistics of remote/hybrid working while maintaining your team’s quality of work, productivity and morale.
The war for talent continues relentlessly which makes it harder to attract and keep the best people while increasing pressure on your bottom line. The Big Quit is also affecting all employers (and isn’t going away any time soon).
And if that’s not enough, we’re now facing high inflation rates here in the United States, a possible downward trend in the stock market, rising oil prices, the global instability created by Russia’s invasion of Ukraine and more.
In truth, no one really knows what’s coming next. Or when. (Up to and including the next recession.) However, agency owners can still prepare for whatever that might be.
Tough challenges also create opportunities.
At Prosper Group, we believe that smart, proactive agencies can capitalize on challenging times instead of simply trying to “ride it out” or, worse yet, being victimized by it.
We have the team, experience and proprietary methodologies to help you not only navigate through today’s difficulties and whatever is coming next but to emerge even stronger on the other side.
How to become more competitive no matter what’s happening.
Here are four very important steps that you should be taking today:
Start running your agency for maximum profitability. Driving higher profits now will help you keep talent, avoid losses and maintain (or even increase) capabilities when tougher times arrive.
Sharpen your strategic differentiation vs. your competitors. Why should a prospective client hire YOU? Make this crystal clear in your website, presentations and all outbound messaging. Give the right prospects compelling reasons to come to you.
Aggressively use your built-in advantages vs. global agencies in being much faster and more efficient, offering better pricing, reinforcing category knowledge and executing clients’ programs flawlessly. Unlike them, you can make a strong profit while devoting top people to the client’s account. Communicate this effectively. Large clients will love to hear it. Actually, all clients will.
Work even harder to get to know every person in your agency. By making it very personal, you’ll create a motivating (and empathetic) sense of united purpose, shared mission and togetherness.
Did you know? Earning higher profits will also allow you to hire the exceptional people who will be let go by the less prepared agencies when harder times occur.
We’d like to also share our in-depth thinking with you today on five important subjects which can make a significant difference for your agency:
Your agency’s CULTURE is the key to fighting back against The Big Quit.
How you can become a Momentum Agency and consistently outperform your competitors.
The war for talent continues and here’s what to do about it.
Strategic planning will grow your agency’s revenue, profits and market value.
My Business Confidante: One-to-one counsel for agency owners provided by former agency owners and CEOs.
You can also find many other informative thought pieces on best practices for agency owners on our Insight page.
We’re here to help you prosper.
Prosper Group exists to help the owners of independent marketing communications agencies achieve their ambitions and maximize the value of their life's work.
Our team of former agency leaders and owners focus their deep experience on implementing proven proprietary methodologies across our three practices of agency performance, owner exit planning and M&A transactions in order to drive owner and agency success.
