Helping the C-Suite of a Young Digital Ad Agency Update their Business Model and Formulate their Objectives, Strategies, Plan and Tactics for Growth
Challenge / Opportunity
Define Clearly their Centers of Excellence
Define Clearly the next Digital Product/Service to build out from the centers of excellence
Grow Net Income 20% Year over Year
Determine Growth Strategies for the Verticals Being Served
Determine the Next Best Vertical to Build Out
Determine whether to accomplish this growth with a BUILD strategy, versus organic or acquisition approach
Given the Business Model and Plan, review staff and determine next key hires
Approach / Solution
Form the C Suite Team for the assignment, and set regular meetings to review and manage progress
Audit the last two years of agency performance with focus on agency offerings, key clients and verticals
Meet and Learn Skills of the top management team members: media director, analytics director, account group directors, head of new business
Help C-Suite reach agreement on top offerings, and importantly agree on the next offering to build
Help C-Suite reach agreement on buy or build approach
Help C-Suite decide on next key hire
Help the team execute the 3-Year Plan to grow 20%
Results
C-Suite moved from not clear and some disagreement about the way forward to agreement on the model, strategy and plan
Key Top Manager to Lead Business Development Identified and Promoted to the Role
Key hire for growth identified to build (acquisitions ruled out) next capability offering
Three Year Plan put in place
New aligned focus produced two wins: in Key Client RFP with outside competitors won the business for another five years, and with new focus won the first client in the new growth vertical
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