Discussing The Upside Of The Great Resignation For Agencies

AUTHOR

hparker

DATE

March 24, 2022

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Announcement of the week:

We offer the first 30 days of joining the programmatic meetup for free! Why? Because we want to show you the benefit of being in an environment of success! An environment where you are encouraged to be authentic and to continue learning!

Join us on Fridays from 12:30 – 1:30 PM ET for the next four weeks and see for yourself!

Noteworthy News of the week:

I came across this article written by Jeff Graham: The upside of the excellent resignation for agencies. He points out that clients need agencies’ support more than ever, given the talent crisis. That said, agencies can and should filter through new business opportunities that do not respect, reinforce, and reflect their internal values. (Yes Jeff, alliterations are 🔥)

Let’s normalize:

  1. Saying no to opportunities outside of our scope
  2. Sticking to our prices and yesterday’s price isn’t today’s
  3. Charging for consulting, including researching and pitching

“Clients need agency help now more than ever. So when it comes to new business, we – agencies – are the talent. It’s a seller’s market. We can play the part of picky, demanding job seekers because clients need our help.”

 Strategy recommendation:

One of the main reasons I selected this article for the newsletter is that it highlights the importance of values. It’s about adapting and normalizing, putting internal teams’ wellness first.

You’ve heard me say this:

“A Happy team is a productive team that gets results effectively and efficiently.”

Simply said, making sure that our people are equipped with the proper tools and systems. It also means ensuring they are supported internally.

“At Cactus, we use ‘5 F’s’ (I’m a sucker for alliteration): Fit, Fame, Fortune, Fun, Future. Suppose a prospect doesn’t give us three or more. During the talent crunch, we’ve added Firepower to the mix. Do we have the capacity to go after this 100% and win it?”

You’re probably reading this and saying, but that’s not always realistic for all agency models.  Digital and media agencies have a great opportunity with talent and should embrace being in the position, as Jeff mentioned.

Let’s address this:

Are we struggling with finding talents just as much as our clients?

Here’s what to consider:

– Follow the money: that is your internal money precisely to your internal resource. How much does it cost to do pre-sale activities? How much internal resource do you need when pitching, researching, planning, etc.?  Are the numbers adding up to the potential revenue?

– Automation: Think about the operating system you can invest in to automate cross-team communication, project management, reporting, and more. If you depend on emails as the primary form of communication, hire a project manager and thank me later!

– Training: Take the risk and hire entry-level and start training them. Dedicate each under a senior level employee and encourage self-development. That also means promoting others for their loyalty and acquired expertise. Consider training and workshops to promote productivity and efficiency. Becoming more efficient in their day-to-day will also encourage servant leadership within the team.

Oprah said it best.

“We can’t become what we need to be by remaining what we are.” – Oprah Winfrey

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