Date(s) - Tuesday, 09 March 2021
5:00 pm - 6:00 pm
Aimed at finance teams and client-facing account handlers alike (probably more appropriate for Account Managers/Account Director level), this session aims to improve the commercial understanding of the workings of a marketing agency.
a) It will examine the core financial metrics of running a people-based creative business and the link between scopes of work, time & fees (and the validity/challenges of models based around value and IP).
b) We’ll discuss how things can go wrong with planned scoped and actual delivery and what can be done if they do – for example, how we can handle challenging conversations with clients about ‘over-servicing’?
c) We will review cashflow, its importance and how you can help influence it.
d) Finally, we’ll look at the key clauses to be mindful of when contracting with clients and suppliers.
Whilst the session will involve a certain amount of theory, if time permits we will aim to make it interactive and conversational to discuss related issues and challenges faced within your own businesses.
The objective is that, at the end of the session, you will have an increased awareness and understanding of the key levers that can influence the profitability of an agency, and the role you can play to positively impact it.