{"id":5423,"date":"2023-09-07T01:08:43","date_gmt":"2023-09-07T05:08:43","guid":{"rendered":"https:\/\/advertisingweek.com\/aw360\/2023\/09\/07\/sitting-on-the-same-side-of-the-table-how-to-create-real-business-partnerships-with-clients\/"},"modified":"2023-08-25T10:41:41","modified_gmt":"2023-08-25T14:41:41","slug":"sitting-on-the-same-side-of-the-table-how-to-create-real-business-partnerships-with-clients","status":"publish","type":"post","link":"https:\/\/advertisingweek.com\/aw360\/news\/sitting-on-the-same-side-of-the-table-how-to-create-real-business-partnerships-with-clients\/5423\/","title":{"rendered":"Sitting on the Same Side of the Table: How to Create Real Business Partnerships With Clients"},"content":{"rendered":"\n

By Alex\u00a0Friedman, President of\u00a0Ruckus Marketing<\/a><\/em><\/p>\n\n\n\n\n\n

The advertising market is constantly facing the cyclical issue of brand building versus measurable ROI<\/a>. These days, with ad budgets<\/a> shrinking, brand building is the first thing to go.\u00a0 It\u2019s the most difficult thing to measure with granularity, so support for this essential element of advertising is often dismissed in favor of micro-measured initiatives. Instead of focusing on the big picture, clients are demanding directly quantifiable results from digital media or other verifiable platforms.<\/p>\n\n\n\n\n\n\n\n

Sure, emphasizing clicks can lead to measurable ROI, but in the long term, brand connections and affiliations are weakened or lost, causing deterioration of the consumer brand relationship.\u00a0 Brand building takes time, patience, and lots of repetition.\u00a0 Unfortunately, when budgets are squeezed, brands don\u2019t have time, lose their patience, and lose faith in long-proven rules of customer engagement.<\/p>\n\n\n\n\n\n\n\n

It doesn’t have to be this way. Marketers can and should help their clients navigate the leaner times by moving beyond the traditional creative engagements to drive real business value.\u00a0 As an Agency, our responsibility to our clients is to implement growth solutions that they cannot otherwise execute internally.\u00a0 It\u2019s a responsibility that is agnostic to the channel we choose, the creative we bring forward, or the awards we win.\u00a0 It\u2019s about helping them see the forest through the trees and doing it from the same perspective.<\/p>\n\n\n\n\n\n\n\n

It\u2019s not for every agency. Some are micro-specialists.\u00a0 Some are pure creatives.\u00a0 Partnering with a client takes business acumen and a deep understanding of the company\u2019s architecture. It requires looking under the hood, assessing the risks and diving in. It\u2019s always useful to understand how the business works during flush times. The true test is getting it when conditions aren\u2019t perfect.<\/p>\n\n\n\n\n\n\n\n

Here\u2019s how marketing agencies can drive client growth and add value during tough times:<\/p>\n\n\n\n\n

Take a deep dive into the sales model<\/strong><\/h2>\n

Any good agency needs to understand<\/a> the economics<\/a> of the products or services their clients are selling to model a proper marketing campaign. \u00a0<\/em>At the end of the day, the only responsibility an agency has is to improve sales. If they\u2019re not doing that they\u2019re going to get fired<\/a>. No matter how great the creative is.<\/p>\n\n\n\n\n\n

Partnering with the client requires a much deeper understanding of the P&L that your marketing and advertising work impacts.\u00a0 If an agency can meet the needs of the company, and add value, they should have that conversation. In select situations, you become so intimately involved that the revenue relationship between Agency and Client may change.\u00a0 Perhaps even some form of revenue share or equity position becomes more fortuitous.<\/p>\n\n\n\n\n\n\n\n

If the nucleus of a client company is strong and you can figure out what makes the business tick, you can be a great business partner, not just a great creative partner.<\/p>\n\n\n\n\n

Chose the type of deal that works best for your agency<\/strong><\/h2>\n

Every deal is different. It depends on the founders\/owners, their market strength and their industry.<\/p>\n\n\n\n\n\n

If you\u2019re working with a company that you absolutely love, you might decide that you want to take the relationship to another level. If there\u2019s a mutual opportunity to do so, try approaching the firm about a deal.<\/p>\n\n\n\n\n\n\n\n

In an uncertain economic environment, there may be a client that can no longer afford an agency. If the business is strong and the marketing firm has the know-how, there\u2019s another opportunity for a deal.<\/p>\n\n\n\n\n\n\n\n

Deals can take the shape of a reduction in fees for an equity stake, revenue share, deferred fees, or perhaps even a capital investment opportunity for the Agency.<\/p>\n\n\n\n\n

Look for the right opportunities<\/strong><\/h2>\n

Business consulting is the fabric of what we do. We look to do deals with accounts that align with the core of who we are and what we do well because we’re going to do the best work for those kinds of companies.<\/p>\n\n\n\n\n\n

If an agency has the business acumen and the resources, partnerships can be an invaluable add. They can deliver real value for the client, aligning the agency and their interests and creating work that’s purposeful, in terms of the creative and the bottom line. And that’s a great feeling.<\/p>\n\n\n\n\n

The bottom line<\/strong><\/h2>\n

Forging business partnerships can help clients maintain solid growth strategies during uncertain economic times and create new revenue streams for agencies. It takes business acumen, ample resources and a deep dive into the company\u2019s structure. Seek out partners who align with your core competencies for long term success. And don\u2019t forget to enjoy the ride. It takes risk to get the best reward.<\/p>\n","protected":false},"excerpt":{"rendered":"

Here\u2019s how marketing agencies can drive client growth and add value during tough times.<\/p>\n","protected":false},"author":7,"featured_media":5424,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","editor_notices":[],"footnotes":""},"categories":[1],"tags":[3],"topics":[2],"class_list":["post-5423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-brands-marketers","topics-editorial"],"acf":[],"yoast_head":"\nSitting on the Same Side of the Table: How to Create Real Business Partnerships With Clients | AW360<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/advertisingweek.com\/aw360\/news\/sitting-on-the-same-side-of-the-table-how-to-create-real-business-partnerships-with-clients\/5423\/\" \/>\n<meta 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