This year we launched The Innovative Agency podcast with the goal to answer the question, “What’s Next?” for our growing agency audiences around the world.

With the podcast, we want to ask (and get answers) to the question: How are agencies, or how should they be, adjusting their strategies to meet changing demands and emerging opportunities?

Through this I had the good fortune to go behind the scenes with an amazing list of agency owners and industry thought leaders. These folks are driving the next generation of agencies toward innovation, growth and profitability.

While grateful to learn from each and their unique experiences and perspectives, a common theme I can’t seem to shake is how agencies move further, and faster, when they can overcome their fears in taking that next leap.

Whether it’s moving toward a new service area, getting out of the comfort zone, or making the difficult people or business decisions now, for success later.

A parallel theme from the people I talked with on the podcast, and the agencies we’ve worked with?

Decisions delayed, or made out of fear, hold agencies back. I’ve taken this lesson to heart in my Firm as well.

I’ve also found that the agencies that are proactive in each corner of their business build the confidence to open up new doors, take risks, and do something that hasn’t been done before.

Innovation goes beyond launching new ideas into products. It’s just as likely to be finding more efficient ways and processes that make an agency profitable. It’s about partnering with the right people and tools to multiply and enhance efforts. It’s about empowering a team and attracting the best talent to your agency in a competitive arena.

As your agency prepares for 2019 I invite you to take in or listen again to our podcast interviews (and trust me it was near impossible to narrow down). With each section I’ve included my own thoughts on these themes and further reading to get you set to sail – safely and securely –  in the new directions of 2019.

 

 

Protect Your People (And That Includes You)

First and foremost, take care of yourself and understand the professional liability that comes with being a business owner and employer. 

From there you need the confidence that you are protected from those you count on, even if the worst occurs. Here you should keep your friends close and your employment policies closer. 

Once that confidence is intact (and it’s a continuous process), you feel more secure giving your team the freedom to fly high, take calculated risks and think outside of convention to help grow the agency. And once you have that peace of mind, you’re also able to exhibit the courage needed to serve your clients in the right ways and get the best work out of your team.

Podcasts on People:

2: Bravery and Boldness: Their Role in the Agency – Drew McLellan

12: How To Make Your Marketing Team Indispensable – Marie Wiese 

10: It’s All About People: Ten Years as an Agency – Matt Heinz 

Further Reading: 

The Elements You Need in Every Employment Agreement or Policy

When Things Fall Down: Your Agency’s “Fast Action” Plan for Common Marketing Legal Emergencies

 

Create Better Partnerships

After securing your agency as best you can, the next ring of concern is all of the parties outside your walls that drive your business: clients, freelancers, solution providers, advisors, etc.

Without them, your agency doesn’t exist. With them, you may have a whole host of things to worry about along the supply chain. It all comes down to making the right choices and doing your due diligence in the vetting and onboarding processes. 

You also have to find the right timing and pace to integrate innovative ideas and approaches with your client base, while employing the right partners to take you to the next level.

Podcast on Client Service and Partnerships

14: Not All Tech Is True Innovation: How to Guide Clients Toward What They Truly Need – Kevin Hourigan

7: How To Differentiate Yourself And Your Agency with Content Marketing – Simon Thompson

Further Reading:

Whose Lawsuit Is It, Anyway? 5 Ways Your Agency Can Get Sued Along With Your Client

3 Tips for Managing Portfolio Rights in Marketing Agency Creative Work

3 Essential Legal Tools to Manage the Agency Freelance Workforce

 

 

Safeguard Your Ideas

It’s not enough to be creative and think differently than your competitors. The devil is the details of execution and the multitude of landmines that can stop your big idea in its tracks. Or possibly it’s seeing your ideas being grabbed and carried out by others where a firm handshake agreement didn’t cut it.

We had several podcast interviews focused on discovering new niche markets for agencies and making your big ideas a reality. When you go into new territories with a plan and protections in place, be it intellectual property, NDAs, or other legal mechanisms, you can be more open to exciting and emerging opportunities at hand. 

Podcasts on Innovative Ideas

13: A Million Things Can Go Wrong In Experiential Marketing, But Here’s Why You Should Do It Anyway – David Title

11: Three Reasons You Should Sell Your Secret Sauce – Gini Dietrich

9: Don’t Be a Master of None: Why You Need to Vertically Integrate Your Agency – David Sharp

5: Artificial Intelligence And The Future of The Agency – Paul Roetzer

Further Reading

Intellectual Property: Why Your Marketing Agency Should Take a Closer Look

Nondisclosure Agreement? No, Thanks…. Protecting Agency IP Without an NDA in New Business

 

 

Mind Your Bottom Line

For many owners, their agency is built on a passion and way of life – but ultimately it’s a business. A business that needs to land new sales and opportunities, while keeping clients happy (and paying on time) and monetizing ideas and innovations.

Money matters can get in the way of advancement and critical decisions need to be made about how an agency will earn its “bread and butter,” and what exactly that means. In several of the podcasts we take a look at how agencies are earning their money – from gaining new business to growing existing clients to creating new product revenue  – and the divide between agencies seeking more strategy work and higher profit engagements, while brand clients continue to seek more doers and production work.

Podcasts on New Business, Contract Negotiations & More

15: You’re Worth More Than You Think: Charge for Strategy – Karl Sakas

8: Winning New Business For Your Agency – Lisa Colantuono  

3: The 4 Business Development Personalities – Jody Sutter

Further reading:

The 5 Legal Mistakes You’re Making in Agency New Business – and How to Fix Them

Past Due: Five Ways to Improve Your Agency’s Odds of Getting Paid, on Time

The Marketing Agency Roadmap for Turning IP into Money – Part 2: Cover Your Assets

How will YOU innovate in your agency in 2019?

Wishing you and your agency health and prosperity in the New Year!

 

View The Innovative Agency Podcast on LegalandCreative.com or The Innovative Agency Podcast – iTunes