Marketing agencies all over the UK face the same challenge. How to continue to satisfy their clients' requirements, produce great work, grow and maintain their margins - all at the same time?
"I need you to create me a [insert some new, trendy, weird, yet wonderful thing here]" are words marketing agencies are hearing from their clients with increasing regularity. Fuelled by the speed of innovation in technology, clients are constantly looking to new and exciting ways to market their products and services.
Every new 'thing' a client must have, whatever it may be, poses an interesting challenge for any marketing agency. Get it right and everyone's happy. Get it wrong and it exposes a gap for another marketing agency or supplier to exploit.
This make or break gap created by the 'thing' is usually a result of resourcing. Does the agency have anyone on staff they can use to create/design/code/build/film it?
Marketing agencies have traditionally had two choices:
An ambitious agency would hire a new member of staff with the skills needed. This puts pressure on an already squeezed profit margin, and the result usually sees the agency increasing its minimum fees and having to get into extremely competitive pitches to win big-budget clients.
A cautious agency would decline the 'thing' project and quickly double-down on the services they already provide. After a few iterations of this cycle, the result sees the integrated marketing agency becoming a specialist in media, or SEO, or creative.
Both of these are choices agencies are making everyday, but they are risky. Be bold but risk your margin. Be cautious but risk losing clients.
What if it didn't need to be that way? What if an agency could be ambitious without having to take a such a large gamble.
A new elastic resourcing method that adapts, expands and contracts according to demand is growing in popularity and it could be the solution.
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