A fractional Chief Growth Officer is an executive-level consultant or advisor who works on a part-time or project basis with organizations to drive growth strategies and initiatives.

Organic growth is becoming increasingly important for Ad Agencies in 2024. My latest article sheds light on this critical topic, emphasizing the significance of client expansion and how it can lead to exponential growth. With dwindling new business prospects, building your growth engine is essential to thrive in the industry.

Account-Based Marketing (ABM) resembles a tailor-made suit in the realm of professional services—it's crafted for a perfect fit, impressive appearance, and lasting impact. Within an industry where each client possesses unique needs and preferences, ABM emerges as the paramount strategy for customization.

Artificial intelligence (AI) is transforming advertising agencies, challenging the traditional hourly billing model. AI automates routine tasks, prompting agencies to adapt billing structures. Agencies that embrace innovation and transformation can thrive in the changing advertising landscape, ushering in a new era of creativity and innovation. The future of the traditional hourly rate remains uncertain.

Historically, professional services firms have adhered to a linear business model, where marketing initiates contact with potential clients and then hands the reins over to the sales team. But the landscape is rapidly evolving, with forward-thinking firms shifting towards a more integrated and collaborative approach.

As global agency holding companies continue to acquire and merge to grow, and as new independent firms enter the market to steal share from these behemoths, both often overlook a key strategy in their growth plans - the art of negotiation.

Clients, it turns out, remain eager to invest and chase their objectives, even in these trying times. However, they demand nothing short of maximum value and return on investment. Alas, many PS firms find themselves without the seasoned resources, streamlined processes, and robust infrastructure needed to access this wellspring of untapped revenue.

At one time, the goal of account management was simply to keep the client happy: delivering the agency’s work on time, on spec and on budget. This is no longer the case. Now, account teams must be accountable to drive the growth of their accounts.

Account-based marketing (ABM) isn’t new, yet many professional services firms are still missing the opportunity it provides. They’ll claim ABM as a core strategy in their sales process but rarely follow through. You’ve heard it too—sales and marketing people talking in the hallways about how busy they are pitching with much less talk about how much they’re winning.

Despite the doom and gloom from industry news sources, today’s advertising market has potential. However, for agencies that have not maintained their growth engines, these opportunities may be harder to attract.

Still, as agency leaders, we can be squeamish about the “S” word, and many of us reframe it as new business development. However, our discomfort with the “S” word can lead to complacency and lack of commitment to the sales process.