Part 16 (2/2)

Huddles We use brief, action-oriented s to start every TuesdayFriday The daily huddles are strictly for problem identification and prioritization of that day's activities, and should last no more than 15 minutes They start promptly at 8:15 am, and require participation froenda includes: Identification of any trends or topics relevant to the agency and its clients These are posted continuously on Ya for the huddle

Discussion of any issues, conflicts, or challenges with accounts

Review of employees' top three priorities for the day

Discussion of events or(M3) The Monday Morning Meeting (M3) is an enhanced version of the daily huddle that, as the name indicates, occurs every Monday in place of the huddle It starts 15 ive everyone a chance to catch up from the weekend, and it is intended to last 30 to 45 ood news: Focus on positive results produced for clients and the agency during the previous week

The nuency data

The agency: Cover what is happening internally that week-initiatives, events, milestones, news, and updates

The project center: Run down the week's major projects by client Also seek team input on any issues or barriers with clients

Loyalty building: Discuss what is happening with carow their business

The pipeline: Who is hot in the sales pipeline? What is the conversion probability and action plan?

Priorities: Employees share their top priorities for the day, just as they do in huddle

Change Velocity assessy co every day that have the potential to iency infrastructure and client services Tech-savvy fir these advances, and looking for opportunities to improve efficiency and performance

It is helpful to have a standard process to ensure assessments are consistently performed with the clients' best interests in mind Here is a format that we use internally to evaluate potential solutions: Snapshot: One or two paragraphs describing the solution or co it Think of this as a very brief executive suths: Describe the value it offers, and how itsolutions

Weaknesses Explain how it falls short Thisstructure, feature sets, or limitations, such as seat licenses if it is a software product

Use cases: Detail how the agency would use the solution and hoould benefit clients

Takeaways: Outline the 35 key takeaways fron responsibilities, and set ti assess posts, can be a great way to create additional value, and build loyalty

Prioritizing and Evaluating Accounts

All clients are not created equal Although agencies need to make every client feel valued, the reality is that some accounts are far ency, and they need to be treated different

These priority accounts have a greater appreciation for your services, value your people, and treat your agency as a partner, not as a vendor They pay bills on time (or early), have realistic expectations and reasonable tiy needed toclients is si for the clients that are the best fit for your agency and have the greatest potential to contribute to your growth However, unlike the sales process, you have actual experiences with these clients, which introduces a whole new set of factors into the equation Let's take a look at soency can use to prioritize accounts

Ranking Factors Our Agency Manager dashboard highlights two core factors for all clients-account status and income potential Account status defines whether the clients are project or can clients and inco based on their forecasted annual revenue, with 1 being the highest potential accounts

Since our Agency Manager is ives us the ability to sort the entire client portfolio by these two factors at any tirowing all accounts, special attention is paid to caencies should be willing to invest nonbillable account-developh this can lead to below-average revenue-efficiency ratings in the short ter-term approach to their develop, but there areclients Here is a collection of some of the more important elements to consider: Efficiency: The revenue-efficiency rate (RER) introduced in Chapter 1 ency turns one hour of service into X dollars in revenue, with X being the hourly revenue target (HRT) In the value-based pricing oal is to deliver the service as close to 100 percent efficiency as possible in order to achieve your desired profits Therefore, if your HRT is 100, you want every one hour of service to produce 100 in revenue

Although it is great, in theory, to get paid for every minute you invest in a client, it is not reality Whether your agency chooses to invest nonbillable tih account-developes, accounts are rarely 100 percent efficient, even in a traditional billable-hour model

As you collectdata, you will be able to better analyze which accounts are the most efficient and, therefore, the100,000 per year, but if your fir 2,000 hours to produce the revenue, it is very likely an anchor-an unprofitable account pulling down your agency's efficiency and productivity

Financial stability: Build your agency around clients with strong financial health and a history of on-tiularly 15-plus days past due can cripple your cash flow, especially if they are core clients (accounting for large percentages of your rowth phase

Consistent late payn that clients are in financial trouble or that they have a blatant disregard for their service providers Either way, it is not a good situation to be in You have to be willing to walk away from this type of dysfunctional relationshi+p before it is too late

Expectations: Realistic expectations of success are key to strong client-agency partnershi+ps Set reachable objectives at the beginning of the engageresses

Leadershi+p support: Agencies often need the freedoic vision fully executed These both require support and patience froy: Thepartnershi+ps have shared values and complementary cultures It is important that your account teams feel respected by their clients and have a passion for seeing them succeed

Coency How long have they been clients? Have they ets over tihest potential accounts have growth opportunities beyond the standard engagement This may include chances to ith other divisions of the coets for add-on projects, and the potential to consolidate agency relationshi+ps

For exa SEO support, thereand social ht now

Profile and platfornificant reach, there are ancillary benefits that coain credibility and possibly enjoy access to contacts and networks you otherould not have

Experience: Clients who provide opportunities to expand your knowledge and capabilities in target niche markets can be very valuable

Innovation: Case studies are rarelyto take risks, try new strategies, and give your agency so Consultant Laws

When PR 20/20 launched in November 2005, we set out on a journey to ”lead and create leaders,” as oura wildly successful and influential firent, and motivated professionals, provide them with the systeet out of their way

We wanted to develop and retain the industry's pre consultants: professionals whose services and expertise bring immeasurable value to our clients and directly contribute to the clients' growth and success

The Marketing Consultant Laere originally created in August 2008 and distributed as an internal docuive us (the consultants) direction and focus and to challenge us to becoer and more valuable-individually and as a team