Marketing & Advertising Trends 2024
Navigate through the current trends and challenges faced by agencies with our monthly highlighted chart from the COR Report. Discover an exclusive analysis of critical insights and industry benchmarks each month.
Do you know exactly how many hours your team has invested in each project?
35% of agencies admit not having detailed tracking of the hours invested in each project, which can lead to challenges in project profitability and efficiency.
It is essential to know how many hours are needed to carry out each project and how the team’s capabilities are being utilized.
Time optimization is the backbone of profitability. In the creative agency industry, the unit of sale is hours. Projects require these hours to be executed by talents, and the quotation must correspond to the amount of time needed to deliver them.
In the marketing and advertising agency sector, creativity and strategies are fundamental, but internal management is equally critical for efficiency and profitability. Transparent management involves having complete visibility of operations, which allows avoiding time deviations and accurately estimating the hours dedicated to each project.
The first step to stop thinking of visibility as a problem and transform it into a benefit is to have all project information documented in one place, enabling advance planning.
Concrete data on the time and resources employed in projects are essential to communicate the value of the work to the client. It is crucial to have a management tool, like COR, that simplifies time tracking with intelligent automation.
Automating time tracking achieves:
Accurately predicting the time each type of deliverable will take and delivery deadlines: Punctuality as a differentiator.
Identifying the number of hours invested in internal and external rework.
Better understanding where people invest their time and visualizing the team’s productive capacity in real time.
