In a recent COR meeting, our team had the pleasure to count with the presence of our official advisor David Sable, former Global CEO of Y&R, one of the world’s leading global marketing communication companies and co-founder of DoAble. David shared with us his career path and his thoughts about what are the main problems in the industry, how they can be solved and how COR could impact those solutions.
With a long and amazing creative path, David nowadays works as a strategic and commercial advisor, building strong pitches for his client’s products and services. Through Doable, his new business, he solves his partners marketing problems in a simple, creative and drama-free way.
A Project’s Profitability Solution
Sable grew in the industry, which provided him with a wide perspective on how technology improved not only in working systems but also in measuring and achieving goals in order to make accounts profitable. Back in the early years, agencies didn’t know how to measure or learn if they were profitable or not.
“This problem brings about a basic but major opportunity: the possibility of helping agencies to discover if their business is profitable or not, something COR is already achieving and providing to its clients.”
Nowadays, measuring creative time and profits is one of the biggest concerns agencies have. Back in the day, people who cared the least didn’t want to fill the sheets because they didn’t want their creative time to be rushed. And now they get it too, because they see the opportunities it brings to the team as a whole.
Transparency between Agency and Brand
There’s another issue that’s emerging: the lack of trust between agencies and clients has never been as low, and it’s getting worse. This problem is based on transparency. On the creative side, there’s a lack of transparency in how long it takes to do a creative job. So, what usually happens?
You may have an excellent pitch and great chemistry with your client, but if the latter dictates you are too expensive and offers you half price of your fee, what do agencies tend to do? They will take the opportunity, even when it’s a bad deal because they need the income. In the long run, due to the lack of resources, agencies can’t deliver and problems start to appear because they don’t have enough people on their teams to achieve their goals. That’s when you realize you made a bad deal.
The agencies have their backs against the wall because clients dictate that they earn too much profit when they ask for their services and tend to offer half of its cost.
“In this scenario, COR becomes the gateway between the client and the agency for its transparency of usage, cost, and profitability”. The ability to use COR as a tool to prove clients the real value of things and to negotiate with KPIs (measuring tools) provides transparency and proof.
Avoid overwork by using COR
Last but not least, making a bad deal not only affects how the agency delivers their products or services to the client, but it also affects the agency internally. It impacts negatively because teams tend to overwork to achieve goals and deadlines due to the lack of resources (less people in the team, more work and less time).Teams are prone to suffer due to the deals we make with clients in order to keep them.
“Your team shouldn’t overwork, that’s how COR is a valuable tool to prevent this and to negotiate properly with clients the fee of the project”.
When you can monitor what you do, you learn your profitability. Knowing this helps you to look after your teams and your creative output.
Are you aware of what is your business’s true profit margin and your team’s status? Explore how you can help your agency evolve with technology. Schedule a demo with us.