untalented 67: Successful Business Model Change with Caroline Johnson - the journey from Service to Value
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Nov 26, 2024 Caroline Johnson, Co-Founder of The Business Model Company, specializes in transforming business models for creative agencies. She dives into the pitfalls of the 'all-you-can-eat buffet' service model and advocates for a shift towards value-driven strategies. Caroline emphasizes the blend of creativity with commercial thinking to foster innovation. She also discusses the importance of leadership commitment in embracing change and offers practical insights on client engagement and rethinking pricing to enhance agency value.
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Commoditization of Creative Agencies
- Creative agencies have become commoditized by equating value to effort, not creativity.
- This has led to a service-based culture focused on pleasing clients, not delivering unique value.
The Problem with Pitches
- Agencies differentiate through talent battles and idea battles, often giving away value for free in pitches.
- This unsustainable practice further devalues creative work.
The All-You-Can-Eat Buffet Model
- The "all-you-can-eat buffet" model offers little differentiation between agencies' services.
- Clients treat agencies interchangeably, leading to short-term engagements and a lack of loyalty.