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Introducing ConceptShare: Deliver 10x Content, Reduce Costs & Bolster Client Relationships

Whether you’re working at a marketing agency, advertising agency, or creative consultancy, clients are probably constantly asking you to deliver more, at faster speeds with less budget. What if one tool could eliminate the pain points around these asks, and actually help you drive more profit, productivity, and value for your clients?

Enter ConceptShare.  

Built for agency leaders by agency veterans, ConceptShare is an online communication, project management, and proofing tool all in one. ConceptShare streamlines the creative process by accelerating reviews and approvals (between teams and clients), so your agency can deliver content faster and at less cost, all while reducing time on those pesky unbillable hours.  

Day in and day out, agencies deliver on some of the most innovative campaigns for the world’s most iconic brands. But in a fast-paced digital world, deadlines and speed are a constant battle-which makes it critical to deliver efficiently. Any delay or bottleneck in the review and approval phase can mean missed deadlines, unexpected costs, and even lost revenue. With ConceptShare you can actually speed up the review cycle by consolidating communication and version-control into one tool, so your team can get clear, actionable feedback and deliver more at faster rates.

With ConceptShare the facts speak for themselves: deliver 10x more content to your clients, reduce unbillable hours by 34%, and accelerate creative reviews by 76%. Doesn’t that sound nice?

But don’t take our word for it, here’s what a few ConceptShare clients had to say:

“Our Designers used to spend a lot of time trying to consolidate feedback and figure out what was relevant. When they discovered ConceptShare, it was a game changer. All of a sudden, all the information was consolidated into one area. So not only did our review times get faster, but the amount of work that our teams could handle at one time, also increased.”

 – CREIGHTON KING | VP CREATIVE EXECUTION | KNOCK INC.

“For clients that used to run a lot of versions, up to version 6 or 10, we’ve been able to get that down to version 2 or 4 now that we don’t have to manually [translate] all their feedback each time they send a new request.”

– DANIEL LOVIC | GROUP OPERATIONS DIRECTOR | MOTOR BRAND DESIGN

Learn more about ConceptShare here: https://play.vidyard.com/qX69vZdcfi92ARggVVLVfd

3 Steps Toward a More Efficient Agency

If you’re in a leadership position, you’ve undoubtedly become used to being the person in the hot seat, responsible for making significant and sometimes unpopular decisions. The abrupt transition a few years ago to a work-from-home model, the challenge of offering more services, and in some cases, the burden of instituting salary freezes weren’t easy waters to navigate. With inflation increasing and whispers of a potential recession on the horizon, your decision-making responsibilities aren’t likely to get any easier anytime soon. No pressure, right?

Having spent 15+ years in agencies big and small as a Project Manager, Creative Resource Manager, and Operations Director I understand the demands facing many agency leaders. Today I want to share three steps you can take right now to become more efficient as we head into 2023 to set your agency up for future success.

1. Clean Up Your Data

This may sound like a no-brainer, but if you’re managing projects in spreadsheets – having multiple people from multiple departments manually enter estimates, budgets, and costs in Excel – how can you be confident that your reporting is accurate? Not to mention, it is inherent in manual processes that there’s always a lag. So while your data may be an accurate snapshot of a moment in time, that moment is already in the past. The manager making important decisions on outdated data won’t be a manager for long.

Similarly, if each department is managing project data in its own bubble, there are bound to be errors when it is time to bring it all together in a report. Every minute it takes to reconcile the data, track down and correct any errors, and create a report, is one more minute that makes that report out of date and less valuable.

The way to ensure that your data and reporting is accurate and up to date is to digitize and connect all the facets of your agency’s operations into a single source of truth. A system where Project Managers, Resource Managers, and Finance can manage project data that feeds all the other departments automatically can help you get better reports, so you have what you need to make better decisions.

2. Customizable & Digestible Reporting

Once you’ve got accurate operational data in real-time, the next step is to customize the output to give you precisely the information you need in the most digestible way. A spreadsheet showing late timesheets won’t be as useful to you as a visual chart showing budgeted time yet to be incurred compared to time already incurred on a project that is dangerously close to going over budget. With the first report, you’d need to gather more information from other departments to really understand its impact on performance. With the other, you have the visual information you need in one place to make a better decision regarding how to reallocate resources to avoid over servicing. When operational data from multiple departments are shared in one system in real-time, and the output is more palatable and sharable with other decision-makers, you can connect the dots much easier and take corrective action much faster.

3. Add Business Intelligence

The next step beyond reporting is to introduce some form of business intelligence analytics. BI helps you dig deeper into the data, evaluate trends, and uncover actionable insights that might not have been so obvious with simple reporting.

By adding BI into your agency’s operational ecosystem, you can take decision-making to the next level. By analyzing P&L across projects and clients for a period of time, you might see a trend in the type of projects that yield a higher profit margin. On the other hand, maybe the most profitable and impactful decision you can make for your agency’s growth would be to specialize and pass on certain types of projects. Who knows? But after taking these three steps, you can be confident that you do.

Insights like these can have a direct impact on your bottom line. For example, Deltek’s 2022 Creative Agencies Report found that firms who were further ahead with their digital strategy initiatives, such as BI, had 12% higher profit margins than their immature peers. Unfortunately, not many agencies are currently focused on this area, with only 21% in our 2022 SoDA Survey on Talent, Culture & Operations saying they expect to invest in analytics & reporting next year.

6 Reasons to Attend Deltek ProjectCon

Deltek ProjectCon, formerly known as Deltek Insight, is the destination for project-based business professionals to gather for inspiration, education and collaboration.

This year’s Deltek ProjectCon will take place on November 15-18th at the Gaylord Opryland in Nashville, TN! PCI is excited to participate as a Platinum sponsor at this year’s event!

Check out these six reasons to register for DeltekProjectCon:

  1. Deepen your Product Knowledge – This conference offers hundreds of product educational sessions teaching new skills, tips, and tricks. PCI will be hosting three sessions, listed below. Be sure to add them to your agenda!

CPSPON-13: How to use the MS Word reporting tool in Costpoint

CPSPON-14: Offers and Decisions

CPSPON-15: Do your contracts have CLINs/SLINs/ACRNs? Do your employees complain because they have too many project codes? See how ACRN billing will fix all your problems.   

  • Networking! – Connect with thousands of attendees, Deltek leaders and visit with the PCI team in the Xpo Hall!

  • Ignite Innovation – Hear how companies like yours are leveraging Deltek’s solutions!

  • Certifications – Be sure to take advantage of the complimentary Deltek University certification exams while on-site!

  • Meet 1:1 with Experts – Meet 1:1 with the PCI team, Deltek Customer Care, Solutions Engineering team and more!

  • Enjoy your time! – There are a ton of fun activities planned throughout the conference such as philanthropic activities, special networking events and a customer appreciation party!

We hope to see you there! Register now to attend!

Grow Your Agency in 2022

What Industry Leaders Predict

Hitting just about the mid-point of 2022, it’s a good time to reflect on how agencies have been performing through the first quarter, and what they should be prepared to face for the rest of the year. Deltek’s recently released 2022 Outlook: Marketing Agency Leadership Report amalgamated the experiences and expertise of hundreds of agency leaders worldwide, capturing their top concerns and noting the priority challenges they expect to face through the remainder of the year.

Agency Leaders Share Optimism for 2022

The good news is that the collective attitude of these agency leaders, including CEOs, owners, and department heads, is essentially optimistic. The market recovery means demand for agency services (and, accordingly, budgets!) continues to rebound. In many ways, the year ahead has potential for more performance and profit than pre-pandemic times. This can be ascribed to a kind of “great awakening” we all experienced during the past few years. We collectively realized that operational efficiency and internal systems improvement had big bottom-line impact.

Increase Investment in Technology

The takeaway from that realization, applied going forward by savvy agencies, is the importance of investing in project management systems, software and tools that make your staff as productive as possible. This might seem challenging at a time when the fight to attract and retain top talent is at the top of leadership priority lists of late, but survey respondents understand the long play here. These investments amplify the agency workflow process, efficiency and thus productivity of your talent. Furthermore, in the face of the inevitable talent churn impacting the industry, these systems and solutions keep intellectual property within an agency. Ultra-valuable information doesn’t walk out the door when there’s talent turnover.

2022 Outlook: Marketing Agency Leadership Report

Agency leaders reveal their predictions for 2022 including industry challenges, priorities and investments.

Download the Marketing Agency Leadership Report Now!

Focus on Professional Development

Stemming the tide of that turnover is another issue agency leadership is dialed into for 2022. This is driving a sharp focus on professional development, giving personnel access to training, education and certifications that make them increasingly valuable team members, and also build in some backup within teams themselves. Whether strengthening day-to-day abilities or introducing new skills that benefit clients, the agency can offer more competent, diverse services to clients while talent is incentivized to remain on board. It’s seen by enlightened leadership as a means to improving employee health and wellness as much as it is a way to better serve clients.

Emphasis on Profitable Growth

In terms of agency growth, the 2022 Outlook: Marketing Agency Leadership Report reflects a cautious optimism among industry leaders. More than 90 percent of respondents expect to realize more revenue in 2022. Interestingly, this won’t necessarily be the result of increased client expenditure. The report makes it clear that top-line and overall profits are growing, but not margin percentage. The reasons for this disparity include more detailed project scopes, better team/client communication, and meticulous review of current service agreements with key clients.

The 2022 Outlook: Marketing Agency Leadership Report is packed with revealing information and data on agency goals and challenges, and the strategies and tactics being deployed to address them. Give it a read and get a stronger sense of how your agency can move towards greater success in 2022.

6 Steps To Effective Resource Planning And Revenue Forecasting For Your Agency

Optimizing resource plans and correctly forecast revenue becomes even more urgent in a challenging economic climate for agencies. Here are six steps for agency leaders to take to implement effective resource planning and revenue forecasting. To learn more about how to get started with resource planning and how to implement optimized revenue forecasting within your business, view WorkBook in Action videos here.

1) Determine the Right Rhythm of Business

What is the right cadence for your team? Decide which reports are most useful to review weekly, versus which are more effective to evaluate monthly or even quarterly.

 

2) Set the Right Ownership

Whether it is the project manager, resource manager, or department heads, who is the right person at your company to manage the process? Or you may even need a dedicated planner role in order to guarantee the work gets done.

 

3) Choose the Right Project Team

It can be tempting to start a project with whomever is available, however it’s critical to have all the right decision makers in the room. By starting with the right team, you’ll save time rather than having to shift people in the middle of a project.

 

4) Keep It Simple

The number one reason resource planning fails is if it’s not implemented in a simple way. Resource planning is only as strong as the weakest link – keep the process simple so that everyone knows how to do it.

 

5) Define the Rules of Planning

Try to limit the number of projects that people can work on at a time – precious time is lost when people are forced to switch between too many projects. Limiting the number of projects will result in greater efficiency.

 

6) Integrate Revenue Forecasting in Planning

By implementing revenue forecasting into your resource planning process, you’ll be able to make better decisions about what projects to take or the best way to utilize your resources efficiently.

Raise your hand if you’d like to increase your agencies efficiency and profitability!

Profitability is one of the most important aspects of any business, especially within agencies. In this blog, we will review 10 best practices to ensure your processes are on the right track to maximize agency efficiency:

1. Create Accurate Estimates
With greater visibility into your agency’s project data, you can glean better insights and more accurately predict the time and resources a new project might require. Track your project history and use it effectively to inform new project estimates.

2. Manage Staff Capacity
Your employees are your greatest asset, as well  as your largest cost. They define your agency’s ability to execute on client needs. But without complete visibility into staff capacity, you don’t know how many projects you can take on or how much you’re wasting on under-utilized resources or unexpected freelance costs. With a clearer line of sight into agency capacity comes better insight into agency capabilities, allowing you to ensure agency money is being spent effectively.

3. Track Time Effectively
Timesheets are the biggest hurdle to getting you the most accurate budget information in real-time. Who wants to get hit with a giant overrun after it’s too late to do anything about it? Easy-to-use, mobile-friendly time tracking methods are a must for any project-based agency. The simpler it is for your employees to track and submit time the more likely they are to use it effectively, giving you the information you need, when you need it.    

4. Avoid Idle Hands
Consistently under-utilized resources can be just as damaging to your project profitability as over-servicing. Along with capacity management, the ability to analyze historical project data to understand your staff’s strengths and weaknesses is invaluable. With greater insight into staff performance and project profitability your agency can chase the right kinds of projects that maximize productivity.

5. Stimulate Team Collaboration
In an industry where teams may be scattered across the globe and an on-the-go attitude requires business processes to be mobile, it’s more important than ever that your agency be up to the challenge. By providing your employees with a centralized portal of communication they’ll be able to work with anyone, from anywhere, without deterring from productivity. Easier team communication leads to higher utilization rates and greater project margins.

6. Maintain a Healthy Pipeline
A healthy pipeline is the lifeblood of a project-based agency. It feeds your bottom line and nourishes growth. It’s crucial that your agency knows exactly what kind of work it excels at and what is most profitable. By tracking and analyzing historical project data you can be sure your agency is chasing the right types of leads and landing more projects that contribute to your bottom line.

7. Control Scope-Creep
Extra items are sure to be added to the scope after fees have been established. But spending time on something that you’re not being paid for eats profit margin and negatively affects morale. With an early-warning system and an informed Account Services team, you can see scope-creep coming and take action. When you have accurate, real-time data and can provide the client with greater transparency into the project you’ll be better suited to re-negotiate.   

8. Increase Project Management Agility
Projects are the core of your agency, so it’s crucial that your project management capabilities are as agile and effective as possible. To deliver a successful product on time and budget you need visibility into all aspects of the project with accurate data that allows you to course-correct before issues arise. You’ll have more control over project profitability when you can monitor project budgets in real-time and can quickly adjust resources and timelines as priorities change.

9. Use the Right System
The right tool will effectively streamline agency processes so that employees spend less time on unbillable and administrative tasks and more time focusing on what’s important.

10. Put it All Together to Make More Money
If you have the right processes, the right resources and the right system in place you’re well on your way to increased efficiency and profitability. When operations are streamlined, employees spend more time delivering the best product, keeping the client happy and contributing to the bottom line.

If you are interested and want to hear more about Deltek WorkBook can increase your bottom line, Contact us today!