What are the keys to driving agency growth?
Agency competitiveness leading to revenue growth and profitability is driven by a number of factors that require leadership and resources.
Regardless of what type of agency, the factors that drive growth are typically the same. They include Vision, Brand, Leadership, Structure, Sales & Marketing, Culture and Financial & Operations.
Prosper Group’s Growth Driver Audit is a comprehensive, action-oriented assessment of these seven critical factors.
Assessing these Growth Drivers offers many business-building benefits including but not limited to:
- Increasing ongoing revenue and profitability.
- Adding measurable market valuation to your firm.
- Developing a clearer vision of what you want your agency to be.
- Aligning your senior team around the future Vision.
- Enhancing your market competitiveness and brand differentiation.
- Identifying holes in your senior team or service offerings.
- Developing new revenue growth opportunities (such as sectors or the use of technology/tools).
- Identifying and dealing with a critical inflection point in your agency’s evolution that requires change in agency staffing or operations.
- Helping you to develop work processes which can reduce stress and strain in implementing integrated client programs.
- Addressing issues with your agency’s pricing model and staff productivity that can increase profitability.
What your Growth Driver Audit will cover.
This a partial list of what we will carefully examine for each Growth Driver:
- Vision (Why does your agency exist? Are you prepared to achieve it?)
- Brand (Do you have a distinctive brand and compelling service offerings?)
- Leadership (Is responsibility for success shared by a broad team? Are the necessary resources and staff architecture in place?)
- Structure (Are you most efficiently and effectively selling and servicing the brand proposition?)
- Sales & Marketing (Are you picking your clients or are they picking you?)
- Culture (Is everyone aligned with the agency’s vision and mission? Are you building next- generation leadership?)
- Financial & Operations (How effectively are you managing pricing, client budgets and required investment in the agency’s future vs. short-term profit?)
Each of these Growth Drivers requires leadership and resources.
The levels of leadership and resources necessary vary based upon revenue. Increases in revenue lead to inflection points and a need to re-analyze how you are managing each driver.
Why choose Prosper Group for this audit?
Your Growth Driver Audit will be conducted by former agency CEOs who have built, run and sold successful agencies including public relations, public affairs, strategic communications, advertising, integrated and digital.
We will first carefully examine your online presence, written materials, presentations and financials. Then we’ll hold in-depth discussions with you, your senior team and selected clients. The process normally takes 5-6 weeks.
For each Agency Growth Driver, we will present our detailed findings, specific recommendations and action plan including priorities and next steps.
Finally, as a separate assignment, we can help you to develop a strategic plan which incorporates the Audit’s learnings to identify the key goals, assign accountability, establish timelines… and help you achieve your Vision.
Please contact Alex Halbur, Managing Partner at email@example.com or 310-936-3774.
Prosper Group has the purpose, people and experience to help. Prosper Group exists to help the owners of independent marketing communications agencies achieve their ambitions and maximize the value of their lives’ work. Our team of former agency owners/CEOs 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.
Written by Alex Halbur and Mark D. Johnson of Prosper Group (October 9, 2019)