How to Find Agency Success with 3rd Party Partnerships, With Tim Burke
Dec 27, 2023
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Tim Burke, Agency success through 3rd party partnerships. Importance of shared values and relationships. Agency as an extension of the client. Setting proper expectations. Results-focused communication. People and infrastructure in agency success. Recognition of external expertise. Retaining a team with shared vision. Shift in agency focus and pricing models. Delivering and receiving value. Call to re-evaluate pricing models.
Building successful agency partnerships requires shared values and focus on relationships rather than transactions.
Agencies should shift their focus from commoditizing their services to emphasizing their value as strategists, demanding fair compensation for their expertise.
Deep dives
Conduit Digital: The Agency for Agencies
Conduit Digital is an award-winning agency that serves other agencies as a specialized ad operations team. They act as a single point of contact for established agencies in North America, offering expertise in media buying and omni-channel work. Their success lies in their ability to set proper expectations and communicate proactively with their agency partners. By focusing on results-driven key performance activities and providing strategic guidance, Conduit Digital aims to be a trusted partner rather than simply a vendor. They emphasize the importance of valuing their work and pricing models to ensure that both the agency and the client receive value from the relationship.
Lessons in Scaling and Efficiency
Conduit Digital has achieved success by building a team of competent and long-term employees. Their management team, with their functional literacy and competencies, have developed a system that minimizes wasted time and focuses on key performance activities. They have implemented detailed dashboards and time-tracking tools to measure efficiency accurately. The secret to keeping their team motivated and committed lies in hiring individuals with the right DNA for the job, focusing on attitude and shared goals. By super-serving agencies and ensuring they receive value, Conduit Digital has been able to retain and grow its client base.
The Future of Agencies: Valuing Strategy
Conduit Digital believes that agencies should move away from commoditizing their services and instead emphasize their value as strategists. Rather than solely billing for execution-based work, agencies should establish retainer fees and get paid for their strategic guidance and expertise. They should be seen as fractional CMOs, providing clients with a deep understanding of their industry and enhancing their growth. By placing value on their work and expertise, agencies can differentiate themselves and demand fair compensation for their services.
Embracing Opportunities and Solving Problems
Looking ahead to the future, Conduit Digital advises agencies to value their work and bring their unique value proposition to their clients. Regardless of economic conditions, opportunities exist for agencies that are willing to solve problems and provide exceptional service. They urge agency owners not to be swayed by negative narratives about the business landscape but to seek out potential clients who are succeeding and find ways to support them further. By positioning themselves strategically, agencies can thrive and find success in any economic climate.