For Strong Ad Agency CEOs: How to Survive, Thrive, Dominate in the Recession
Take a page from Jack Welch's playbook
Ad agencies must drive new business to grow. But then there's growth through acquisition. Or, perhaps "stealing" your way to growth. If you missed this from today's Vanity Fair/Bloomberg Panel
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Some of those pages will return with a broader recovery, but many, sadly for the industry and many devoted readers, probably won’t. The leading magazine brands and publishers will survive, but they’d better already be pivoting toward new revenue streams if they want a good position after the recession.
The Webinar series was launched around 18 months ago and is designed for customers who have already committed to Concept as their agency management system. These online seminars explore in depth some of the key Concept modules and interfaces to help customers maximise their Concept investment. Previous webinar topics have included Easy Bank Reconciliation, Document Management and CRM and Managing Reporting.
First let me share, the best partner in place branding, city branding or community branding projects as they are known, is actually two partners. A brand consultant or brand consultancy that focuses on strategy, and an advertising agency or creative partner that focuses on implementing the brand strategy creatively. Each possesses a different skillset and specializes in one of the two critical areas of expertise you will need.
First, you have to tune out all the bad news. When it comes to the nightly news, the daily newspaper or even the office gang around the water cooler, you need to follow the advice of Nancy Reagan and “just say no.” You can’t possibly have a positive outlook on your personal future if you let yourself get caught up in all the doom and gloom that permeates our news and culture today.
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Adrian Gluck began his career with Exxon Corporation. He then became chief information officer for a large insurance company, after which he launched a computer software company that became the leading provider of auto fleet leasing systems with worldwide clients including Avis and Hertz. Subsequently, Gluck was founder, director, and advisor to several companies. Many of these companies now have market values in excess of $100 million.
Although most companies are making employees redundant, chief executives can cement the loyalty of those who remain by assuring employees that the company has survived difficult times before, maintaining quality rather than cutting corners, and servicing existing customers rather than trying to be all things to all people. CEOs must spend more time with customers and employees. Economic recession can elevate the importance of the finance director’s balance sheet over the marketing manager’s income statement. Managing working capital can easily dominate managing customer relationships. CEOs must counter this. Successful companies do not abandon their marketing strategies in a recession; they adapt them.