The Media Leader Podcast
Should agencies scrap time-based charges? With The Business Model's Caroline Johnson
Apr 2, 2024
Caroline Johnson, Director and co-founder of The Business Model Company, discusses the need for media agencies to shift from time-based charges to outcome-based models. She emphasizes the importance of agencies repositioning themselves as consultants and providing value through results rather than hours worked. The podcast explores leadership challenges in business model transformation, the impact of outdated charging systems on talent and client partnerships, and the shift towards project-based and AI-driven models in the media industry.
48:07
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Quick takeaways
- Media agencies should move away from time-based charges to charging based on outcomes for clients.
- Transitioning towards program and product models and integrating AI are key strategies for agency relevancy.
Deep dives
Shift in Media Agency Business Models
Media agencies are evolving their business models due to industry challenges. Traditional models relying on time-based charging are seen as outdated, limiting agencies' capabilities and partnerships. The move towards more innovative and relevant business structures is crucial in facing market pressures.
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