With the world moving almost en masse to digital products and services, advertising and marketing agencies are no different. From the earlier system of commissions and retainers, agencies are now adopting fee-based and performance-based revenue generation. In this scenario, it is even more imperative that time, expenses and efforts are meticulously monitored and recorded for maximum cost efficiency of the agency.Without question, then, it does not make sense for modern advertising and marketing agencies to have disparate systems that do not ‘talk to each other’ to manage billing, resource assignment, and other project-based tasks.
Increasing productivity and profitability
Contemporary advertising agencies are all about performance and agility. Their revenue comes in from smart management of their time and resources. To this end, it is logical that they should have systems in place that grant agency leaders 360-degree views of the entire agency workflow at all times. With this, they can make the best decisions regarding quotes, available resources, billing rates, and so on.
A cloud-based business management system such as NetSuite is an ideal value-add to a modern advertising and marketing agency. It empowers them:
- to raise productivity and profitability
- to make smart decisions based on real-time data
- to boost overall agility.
Rather than being tied down to legacy billing systems, having a reliable and secure cloud platform such as NetSuite can facilitate a huge boost in revenue and efficiency for marketing and advertising agencies.
Generating New Business
The advertising and marketing business is a highly competitive one, where highlighting the advantages of an agency in the shortest time-frame could mean winning new business before the competitor does. Moreover, clients too are smarter and drive harder bargains than ever, increasing the pressure on the agency to have sufficient profit margins for themselves.
To stay ahead in such a fast-paced environment, an agile system such as NetSuite’s business management system can be a vital asset for achieving the following goals:
- Complete clarity for estimating resource availability for new projects, including the cost/time metrics of past projects for comparison via personalized dashboards.
- Optimized quotes that satisfy agency margins as well as client requirements.
- Repeat business from past clients via intelligent marketing campaigns, and sales management and enablement.
In this way, NetSuite empowers advertising/marketing companies to confidently bid for new business and deliver it on time, within budget.
Making Project Management More Efficient
Most marketing agencies aim for maximum utilization of their resources (along with minimum attrition) and high client satisfaction. NetSuite’s integrated project management and account management software converts client estimates into projects, facilitating a smooth flow of resources. Its cloud-based system has the ability to foresee and predict manpower requirements and allot the most suitable talent to a job on the basis of skills, brand experience and other similar factors.
NetSuite makes talent management effortless in the following ways:
- By providing clarity about status.
- By promoting cooperation among team members.
- By foreseeing potential bottlenecks in projects well in time so that they can be resolved effectively.
- By enabling multi-channel reporting of expenses and time logs.
- By improving productivity via simplified and automated approval processes.
- By integrating DoubleClick for online cost management of advertising.
Making Informed Decisions
NetSuite provides a complete understanding of the core business metrics, so that agency leaders can make informed decisions about strategy and operations. By fully integrating CRM, finance/accounts and project management, it can enable forecasting of viability and profitability of a project well ahead of time.
NetSuite allows the following benefits:
- Automated workflow.
- Timely and on-budget delivery.
- Global fluency with over 170 currencies, in15 languages and local tax compliance features.
Being cloud-based, one of the biggest advantages of NetSuite is that it can be implemented swiftly without large investments upfront. It also replaces the need for expensive and disruptive maintenance that an on-premise system will need.
Clearly, with NetSuite, advertising and marketing agencies can truly go digital with their processes, leaving them with more time to focus on creating campaigns that delight their clients and result in higher revenues.