In 2022, agencies are in a tricky, but favorable position.

Tricky, because the brands they work for have a global pool of agencies they can choose from. Favorable, because the same brands need digital communications more than ever. With an oversaturated and globalized market, brands that employ marketing, PR, design and development agencies (to name just a few) can’t lead, amuse, educate and win over consumers alone. Brands simply need agency expertise.

But how do agencies wrestle with the fierce competition? Like with most issues today, leveraging technology is the answer. Agencies need to be able to deliver work in a way that will increase their efficiency and margins, and so much more. That calls for a wholesome approach.

As project management platforms are sprouting left and right, agencies need to ask themselves what key functionalities VP Communications Officer Email Lists they need. Keep reading for the top features agencies look for in a business management tool to increase their overall efficiency and grow.

VP Communications Officer Email Lists

Source: The Productive Company, Inc.

What an Embedded Sales Funnel Can Tell Your Agency

An agency’s sales or business development team communicates with a couple of teams. To organize their sales efforts, agencies need a sales funnel that provides an at-a-glance view of new deals in the pipeline, the scope and timeline of upcoming projects, and of course the financial part of it all—sales forecasting.

By keeping sales information organized through a sales funnel that’s embedded in an agency management tool, business development representatives can easily inform operations, project and resource managers in planning work out for their teams, HR to plan potential hires, and management on overall metrics.

With an easily accessible sales funnel and connected forecasting reports, stakeholders can quickly see how potential clients and new jobs are progressing through stages. Keeping sales data in one place can help answer strategic and tactical questions. What’s the probability of that six-month project kicking off next month and where do we need to invest as a company to successfully deliver it? How will that same project impact our profitability if we decided to hire freelancers, and which in-house resources will we engage? At the same time, an agency’s sales team may be negotiating with other leads in the pipeline that will also need attention soon.

Agencies can answer those questions (and many more) through a sales funnel that’s part of a bigger agency platform which includes reporting, resource scheduling, project management and time tracking.

Resource Planning, Time Tracking, Budget Spending and Invoicing—All Connected How Agency-focused

Time is money and agencies need to constantly watch and update schedules, monitor budgets and speed up invoicing. As these types of businesses mainly deliver project work through timelines and tasks, they need to ask themselves how to connect those projects and tasks to reporting and billing via tracked time, budget spending… and what about invoicing? Besides tracked time on services, keeping track of all costs in the same agency management tool (including overhead, contractors, out-of-pocket expenses, etc.) is a must.

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