'Drivers for Success' PRCA Dare Awards 26th July 2013
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A presentation by AgencyPeople associate Partner Richard Houghton that outlines the drivers for successful PR agencies.
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'Drivers for Success' PRCA Dare Awards 26th July 2013
- 1. AgencyPeopleAgencyPeople “Challenges or Drivers” Creating an Engine for Success Richard Houghton AgencyPeople @rhoughton
- 2. AgencyPeople Slough….a tough client Come friendly bombs and fall on Slough! It isn't fit for humans now, There isn't grass to graze a cow. Swarm over, Death!
- 3. AgencyPeople Successful Agencies and Departments • Most agencies want to: • Grow fee income • Grow margins • Or growth both • Most departments want to: • Demonstrate value • Grow budgets and influence • Or both
- 5. AgencyPeople Day to Day Challenges
- 6. AgencyPeople Traditional Industry • 1960s operations: • Office hours • Works flows • Job titles • Offices • 25 years: • Starting salaries - £6k • Monthly fees - £3k • Now: • Starting salaries - £17 • Monthly fees - £3k
- 7. AgencyPeople Engine for Success AgencyPeople H.P.S.T Loyal Clients Right People £ Sustained Revenue and Margin Growth Stand Out Products AgencyPeople New Business 93%72% 54% 44% 60%
- 8. AgencyPeople Engine for Success: components • Vision & milestones • Operational plan • Roles & attributes • Collaborative comms • Resilience HPST • Systems & guidelines • Senior owner • Development programme • People ROI • Business driver Right People • Client analysis • Cluster strategy • Loyalty maps • Behavioural maps • Account development plans Loyal Clients
- 9. AgencyPeople Engine for Success: components • Client needs • Market positioning & opportunity • Capability • Innovation • Development & commercialisation Stand Out • Financial plan • Sales policy • Resources • Pipeline development • Pitch process • Feed back & learning New Business • Financial systems • Monthly reporting • Monthly invoicing • Capacity planning • Debtor days < 50 • Over servicing < 10% • Client profitability Commercials
- 11. AgencyPeople Success Driver Analysis People Quality solutions New business Growing existing clients Services Susan Alan Carla Mike Lisa Quality People Managing Director Staff retention Attraction Reviews Feedback 5/10 Commercial Management FD R2 metrics Management Info Job cost reports Monthly accounts 8/10 Sales New Business Director Sales reports Sales Tracker 7/10 Client Growth Project and Account Managers % repeat business 6/10 Fuller Offering Customer feedback Additional profit Management review 5/10 Processes New Offerings Management Team Capex investment and reports 7/10 Creative Director
- 12. AgencyPeople What are Your Success Drivers? Owner Success Measure People Quality solutions New business Growing existing clients Services Susan Alan Carla Mike Lisa Score Processes
- 13. AgencyPeople Building your Engine for Success Positive mindset – drivers not challenges Prioritise your business drivers in terms of: • Importance for growth • Current efficiency • How well are you managing them? Develop practical and pragmatic quarterly plans for addressing them: • Stretching but not out of reach • Single owner for each activity stream • Clear Key Performance Indicators (KPIs) Review plans monthly • Celebrate successes!
- 14. AgencyPeopleAgencyPeople “Challenges or Drivers” Creating an Engine for Success Richard Houghton AgencyPeople @rhoughton richard@agencypeople.co.uk
Notas del editor
- Good morningI’m Richard Houghton. After 25 years working in and running PR consultancies of all sizes and stints as PRCA I am now working with a niche management consultancy – Agency People. We work with agencies and in-house teams to help them meet their organizational, team and business goals. As you may have guessed by the name we do believe that people are at the heart of that success.For those of you who were expecting the tall, charming and silky voiced Professor Trevor Morris I can only apologize - you’ve got me. My only comparative benefit is that I am a couple of years younger! Start by congratulating all of you who have been shortlisted and very best of luck for this afternoon.