6 min Read
The role of an ad agency is quite unique as compared to other industries. While they are all subject to the same business rules, the metrics of success & organizational dynamics are quite different. Agencies focus more on emotion & hence traditionally less data & process. But agencies also business ventures – so they must have some focus on commercials, to ensure a healthy P&L!
For the record, here’s a quick comparison of ad agencies vs other companies:
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Ad Agencies
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Other Companies
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|---|---|---|
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Core Product
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Ideas, campaigns
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Tangible goods or software
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Primary Focus
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Creativity, brand, client
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Operations, profitability
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Leadership
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People-driven
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Process- & metrics-driven
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Success Metric
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Client satisfaction, impact
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Growth, market share
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Operations
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More project-based
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More process-based
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Stakeholders
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Clients, mktg vendor partners
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Investors, customers
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Pace
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Fast, culture-driven
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Market-driven
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Workflow
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Proactive to client needs
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Proactive to market cycles
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Drivers
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Creative instinct, Relationships
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Market analysis, Data
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Style
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Brainstorm-heavy
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Agenda-driven
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Output
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Client delight
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Shareholder value
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Energy
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Recognition, passion, creativity,
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Results, growth, efficiency
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Stress
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Client churn, burnout
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Market pressure, cost control
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Ad agencies run on passion, creativity, & campaign deliveries. To illustrate this, take review meetings, which typically involves the following:
But for ad agencies, the review meeting would focus on:
While the benefits & need for a different approach is undeniable, the success parameters need not totally exclude finance, efficiency, & growth. For example, delays in key functions like billing which lead to financial inefficiency must be addressed asap. Equally important is tracking of growth & performance of SBUs & client servicing teams.
Problems like the above lead to poor financial performance of ad agencies –
Here’re the associated risks:
The best of both worlds can be achieved with a dedicated workflow automation which brings all teams to the same page. This increases job status visibility, amplifies collaboration, and helps keep clients updated. Not to mention timely client billing & a live dashboard to track business performance.
Just ask yourself: “How Many Excel Sheets Run Your Agency?” If you want to cut down this number, click here to schedule a quick look or detailed demo of Mediaware aD at your convenience.
Digital Agencies
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Creative & BTL Agencies
Manage your BTL jobs, coordinate with vendors, automate client invoicing, and analyze results.
Media Agencies
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