San Francisco, California
London, United Kingdom
A thought-provoking workshop that explores creative solutions for putting agencies on the road to improved profitability by transforming the way they price their services and construct remuneration agreements.
The central premise of this workshop is that agencies can create their own future financial success by learning and implementing the principles of professional pricing and applying the same level of creativity to remuneration as they do to solving their clients' business problems.
Using examples from around the world, this workshop explores innovative new models that help create more productive and profitable client relationships, including:
1. How agencies create value and why they should get paid for it
- What agencies really sell, and what clients really buy
- The true financial impact of agencies
- The chronic disadvantages of cost-plus pricing
- Why the current cost-driven system is not in the client’s best interest
- The critical importance of aligning the economic incentives of agency and client
- Why leading marketers favour a change in agency remuneration
2. The principles and practices of value-based pricing
- Selecting the profit-optimizing price for each engagement
- Cost-led pricing versus price-led costing
- Dealing with client pricing psychology and overcoming pricing objections
3. Setting prices based on value instead of cost
- Ascertaining the value of outcomes and outputs instead of the cost of inputs
- Putting "Scope of Value" ahead of "Scope of Work"
- The seven key factors to consider when setting a value-based price
- The three basic forms of value pricing: fixed pricing, outcome-based pricing, and pricing based on usage
4. Creativity in compensation
- How agencies around the world are experimenting with new and better pricing strategies
- Separating the value of ideation and implementation (“Magic” and “Logic)
- The power of pricing options
5. Establishing professional pricing as a core competency
- Trading the language of cost for the language of value
- Treating your compensation agreements as a diversified financial portfolio
- Centralizing the pricing function by establishing the role of Chief Value Officer or Value Council
About the presenter
Tim Williams leads Ignition Consulting Group, a U.S.-based consultancy that helps agencies create, deliver, and capture more value. Tim is a noted author, international speaker, and presenter for industry associations, agency networks, and business conferences worldwide. His seminars have been featured by the American Association of Advertising Agencies (4As, U.S.), Association of National Advertisers (ANA, U.S.), Institute of Advertising Practitioners (IPA, U.K.), Institute of Communications Agencies (ICA, Canada) International Advertising Association (Asia and Europe), and numerous other advertising agency associations with global memberships ranging from Australia to India.
He is author of two books, “Take a Stand for Your Brand: Building a Great Agency Brand from the Inside Out,” ranked by Amazon as one of the top ten books on brand building, and “Positioning for Professionals: How Professional Knowledge Firms Can Differentiate Their Way to Success.” As a recognized thought leader in the area of business strategy for agencies, Tim is a frequent contributor to leading marketing publications including Advertising Age, Adweek, and Communication Arts in the United States, and Campaign, Admap and The Drum in the United Kingdom.
Based on his expertise in building differentiated professional service brands, Tim has been interviewed and quoted by The New York Times, The Wall Street Journal, The Economist, National Public Radio, The Guardian, Toronto Globe & Mail, National Post, Huffington Post, Bloomberg News, Campaign Asia, Marketing Week and numerous other business publications both here and abroad.
Tim writes the popular blog “Propulsion” (www.ignitionpropulsion.com) and contributes regularly to LinkedIn, where he is one of small group of LinkedIn Influencers worldwide. On Slideshare, Ignition’s presentations rank in the top 1% in global viewership.
As a consultant to advertising and marketing firms, Tim has worked with hundreds of agencies ranging from mid-size independents to multinational agency networks. Before forming Ignition, Tim led several independent agencies after having worked for multinational agencies in New York and elsewhere.
When & Where
The Art of New Business
The Art of New Business is a collaborative network of like-minded individuals set up by Karla Morales-Lee and Sarah Bradley. Our focus is on finding new ways of winning business, and giving support and advice to each other. We run events in London and Manchester for new business executives, managers and directors working in the creative sector. For each event we select speakers who can inspire our network to think differently about what they do and how to do it. We want to lead the search for ‘a better way’. That means better people, better processes, better tools and better results. Bringing in new business for your agency can often be a lonely, high pressured job, so this network has been set up to support and inspire those of you facing daily pressure to bring in new business, often in silo from the rest of their organisation.