Knowledge is Power! The most successful businesses regularly analyze reports that provide actionable insights. In other words, the most relevant reports help leaders make informed decisions to improve and grow their business. Advertising agencies are service firms whose business includes creative projects and media buying, facilitating the need for unique information to stay fully informed.
If you resolved to reduce the amount of paper in your agency to save time, money and the environment, you’ve probably taken steps to implement the policy. Perhaps you’ve opted out of paper bank statements and vendor invoices, replaced your fax machine with electronic faxing and store documents in the cloud. Well done! But have you reached your paperless goal?
Every agency uses metrics to track and measure the success of employees, teams and the business as a whole. These metrics are often called KPIs (Key Performance Indicators) within client organizations and the KPIs you choose determine what the agency values and also impacts the agency's culture.
The assets of an advertising agency go in and out of the front doors every day, so it's crucial for the agency to have tools to measure, understand and optimize the utilization of those assets in the same way that factories need to measure, monitor and maintain the up-time for their production equipment.
If you've watched your share of Star Trek episodes, you've come across an alien species called the Borg. On a search for perfection, they assimilate other species into their own collective "hive mind" and are considered one of the most formidable characters in the Star Trek series. Their greatest strength comes from the vast knowledge of all the cultures they've conquered and assimilated.
The summer is over and we're quickly approaching that time of year where the forecasts you handed in back in December or February are going to prove prescient or embarrassing. This is the time of year when every bit of revenue counts and everyone's bonus is on the line. What are some smart moves you can make to end the year strong?