Increase Revenue From Day-To-Day Projects: Proposal Writing, Negotiations, Fee Models
Your account teams are feeling a recent spike in the pressure of managing their day-to-day projects. It’s no secret that when the market takes a shift in the wrong direction, it becomes a real challenge to secure client agreement on daily estimates, proposals and fees. At minimum, clients will often bring the process to a grinding halt.
Clients are reacting to the downturn by pausing their programs to re-evaluate their entire marketing strategy. At the same time, they're also looking to cut costs, extend payment terms, and take advantage of any opportunity to get more for less. Meanwhile, agencies are expected to pivot accordingly, all within the initial scope, for no additional fee.
With the current state of the economy, it is critical that agencies not leave any revenue on the table. Completely updated for the 2020 market downturn, this training series will address three of the most critical aspects of generating revenue.
First, fee models continue to evolve. In this series, your teams will learn new principles to apply right now to generate a 10% to 15% lift in fees.
Second, this training series will improve how your account teams develop their estimates, proposals and SOWs — to ensure more favorable terms and margins for the agency. Given the role these documents play in generating day-to-day revenue for the agency, there is no more important piece of communication that leaves the agency.
Finally, your teams will improve their ability with day-to day client negotiations, as they work to persuade the client to agree to the agency's recommendation and terms. And, when this is all handled remotely, the stakes are even higher.
You will take away a set of steps and tools that can be proactively applied to give you an edge in these critical client interactions. In fact, as you also gain new insight into the tactics being used against your teams, you’ll learn how to more effectively command the fee proposal and negotiation process.
To ensure your team best implements the training, they will be put to work with a series of hands on-exercises and brief homework assignments. Bring along a fee proposal, staffing plan and scope of work — and measure it against the lessons in this program.
Throughout this program, we’ll cover key principles that include:
New Agency Fee Models
Review the most effective ways in which agencies are now improving their fees. The goal is to move you beyond an unprofitable reliance on cost-plus fees, commissions, retainers or hourly rates. In fact, when you set aside the more dated approaches, an entirely new set of profit-driven possibilities surface. Several new fee models will be explored.
Master the Writing of Estimates, Proposals, SOWs, Staffing Plans
With the goal of securing higher fees, we’ll review critical principles in the development of estimates, proposals and SOWs, and even staffing plans – the most important documents to leave your agency.
Turn Scope Creep Into New Revenue
Learn specific steps you can take to get ahead of the problem of scope creep – and consistently get paid for all the work you do. In fact, we'll show you how to turn scope creep into a new revenue opportunity for the agency.
Day-to-Day Negotiation Strategies
This begins by learning the step-by-step scripted tactics of clients and procurement. Then, we'll cover the new agency negotiation skills that can be applied on a day-to-day basis to every project. Account teams will experience an increase in their confidence as they apply a more methodical approach to basic negotiations with their clients.
Better Adapt to the New Procurement and Client Decision-Maker Profiles
Gain more insight into the kind of people you’re working with (and negotiating against), and why you must adapt your approach or suffer the financial consequences. In fact, we’ll reveal how client and procurement executives are trained for this part of their role, and how the current economic outlook is impacting their approach.
Given this training impacts your estimates, proposals, SOWs and fees, this sereis will help your teams immediately start generating more short-term revenue.
MULTI SESSION WEBINAR
Thursday, June 04
1:00 - 2:30pm EST
Learn the strategies that client and procurement executives are using against agencies, how they are leveraging the current down-turn to secure more-favorable terms (often, at the expense of the agency) – and how you can adapt your approach accordingly.
Not only will you learn the key tactics being used against you, but you’ll suddenly recognize them from past negotiations. In the planning of a negotiation, even something as simple as protracted negotiation timing can be orchestrated with the goal of throwing you off balance and into a defensive position.
Learning their approach will help you more proactively prepare strategy to capture near-term revenue within your client negotiations.
Thursday, June 11
1:00 - 2:30pm EST
Part of the challenge in client negotiations is that agencies write RFPs, fee proposals, and staffing plans focused on the wrong things.
Most agencies don’t describe themselves (and their service offering) in a way that is meaningful to a numbers-focused recipient. Nor do their proposals connect back to meaningful client objectives. In fact, these key selling documents are often written in a manner that sets your client up to win the negotiation. Within this session, you will develop an approach for your proposals and estimates that will better address your client's business needs - ultimately setting you up with a stronger negotiating position.
Thursday, June 18
1:00 - 2:30pm EST
Those agencies that are able to correlate their work to meaningful client business impact see increases in their fees, and ultimately, margins. As you are able to connect your products and services to specific client business outcomes – you will better demonstrate its value to clients. We will review specific ways for to you to tie line items within your proposals and estimates back to client objectives. The goal, increased revenue.
Further, an often-missed revenue opportunity for agencies is to capitalize on scope creep. Stop fearing the unpredictable scope increase and proactively turn it into a revenue opportunity for the agency. By preemptively creating special agreement clauses, you can better capture additional revenue. Learn specific steps you can take to get ahead of this problem – and consistently get paid for all the work you do. In fact, we'll show you how to turn scope creep into a new revenue opportunity for the agency.
Thursday, June 25
1:00 - 2:30pm EST
There are a number of fee models required to ensure you’re capturing the highest possible margin from each type of project from every client. And, the approach to pricing strategy has evolved significantly over the last three years.
We will review the most effective ways in which agencies are now improving their fees. The goal is to move you beyond an unprofitable reliance on cost-plus fees, commissions, retainers or hourly rates. In fact, when you set aside the more dated approaches, an entirely new set of profit-driven possibilities surface.
We will review several fee models.
Thursday, July 09
1:00 - 2:30pm EST
Account teams will experience an increase in their confidence as they apply a more methodical approach to basic negotiations with their clients. In this session, we will outline an approach you can use to prepare your own negotiation strategy -- to more effectively command the fee proposal and negotiation process.
Further, you will learn specific steps you can take to get ahead of the issue of "scope creep" – and consistently get paid for all the work you do. In fact, we'll show you how to turn scope creep into a new revenue opportunity for the agency.
Ultimately, your teams will improve their ability with day-to day client negotiations, as they work to persuade the client to agree to the agency's recommendation and terms.
Who Should Attend?
This training is designed for all those who have any interactions with clients as it relates to fee proposals, staffing plans and agreements. The training content is geared to focus more on your senior team members, however your more junior executives will also elevate their ability to negotiate with their client counterparts.
About the Instructor
Director, Agency Growth Strategy
Nadine Tull is Director of Agency Growth Strategy at Mirren. She specializes in training senior teams how to more aggressively – and more methodically – generate organic growth and new business.
In her agency career, Nadine was a force in account management. She worked to establish a partnership with her clients, providing a level of strategic counsel that was focused on growing their business – and the agency’s. In fact, she believes that clients are looking for proactive business partners who lean in hard and don’t just passively take orders. It is essential to frame every aspect of the agency’s work through this lens.
Nadine spent the majority of her agency career in Los Angeles, playing a leading role on retail powerhouse clients that included Taco Bell and T-Mobile. She then moved to the WPP agency, Cole & Weber Seattle, to lead their largest accounts and run new business pitches. During her tenure as the agency partner for Washington’s Lottery, she led continuous years of record growth for the client and agency. She expanded their digital ecosystem, grew the account scope, and successfully defended against a large competitive review, securing the business for six additional years.
Most at home in the center of it all, Nadine lives in downtown Seattle, placing her at the heart of the city’s theater, event and food scene.
Nadine can be reached here by email.