Key Competencies
for
Account Management in Today’s Agency
TABLE OF CONTENTS
ContentsPage
Cover Page ...... 1
Table of Contents ...... 2
Executive Summary ………………………………………………………………………………..3
Part 1: Introduction ……………………………………………………………………………4
1.1Being THAT Account Management Agency …………………………………4
1.2The Problem ………………………………………………………………………….4
Part 2: Required Key Competencies ………………………………………………………………5
2.1Knowledge demonstration ………………………………………………………5
2.2Understand communication disciplines ……………………………………..5
2.3Develop and maintain great relationship skills ……………………………5
2.4Develop great selling and negotiating skills ……………………………….5
2.5Understand finance and its models …………………………………………..6
2.6Understand Client environmental hierarchy ………………………………6
2.7Be timely and consistent ………………………………………………………..6
2.8Be honest about what you don’t know ……………………………..6
Part 3: Improve Your Client Database (And Businesses Thereafter) …………………..7
3.1Sustainable business model ……………………………………………………7
3.2Professionalism Dynamism …………………………………………………….7
3.3Achieve again and again ………………………………………………………..7
3.4Informed market research propositions …………………………………..7
3.5Financial prudence ……………………………………………………………….8
3.6Re-evolve …………………………………………………………………………...8
Part 4: The Go-To Agency Drive …………………………………………………………………8
4.1Sustenance ………………………………………………………………………….8
4.2Profitability …………………………………………………………………………9
4.3Exposure ……………………………………………………………………………..9
4.4Fulfillment …………………………………………………………………………..9
4.5Identity ………………………………………………………………………………9
Part 5: Justifying the Means ………………………………………………………………………9
Part 6: Get It Together ………………………………………………………………………………10
References …………………………………………………………………………...... 11
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Executive Summary
To successfully manage clients and their business in modern day climes, a lot of very important attributes are required from both Agency representatives and Agencies themselves. These attributes are the basic tools that provide the cutting edge among Agencies, when prospective clients shop for business solutions.Not only can improving customer experience provide a means of differentiating your brand, good experiences lead to greater customer and employee loyalty, satisfaction, and retention, and a better bottom line.
It’s no surprise that as today’s clients have grown accustomed to getting what they want, when they want it, their expectations have risen accordingly.This note provides basic insight into some of these expectations and the requirements on the road to nailing your client, as permanently as possible.
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Part 1: Introduction
Being THAT Account Management Agency
Having your client perceive you (Agency and Account liaison) as the “go-to” guy for required business solutions can be a conundrum of sorts. Being THAT account management Agency practically means being holistically THERE as required by diverse clients/businesses. As such, Agency and their operatives are expected to be totally and unequivocally available, to provide required services across various levels to meet client expectations. Hence, the need to be who client need you to be.
1.1 The Problem
One can argue that bending to the clients every needalmost amount to being entrapped in some level of professional slavery. Far worse than the perception is the knowledge that Agency are largely dependent on such clients for regular business given the existing competition within and outside the Experiential Industry. There is a huge sense of desperation Client readily latches upon. There could also be psychological and political ends to the cause.
Agencies are the biggest casualties here, especially where the undertone is politically motivated. Client business/brands (In actual reality, should be the bigger casualty) are next given shortfalls recorded in the face of improper representation. Where a sustained common ground is not found between both parties, brand equity erodes just as Agency professionalism wane. It is nice to establish the ground rules at the start of the relationship. Yes! there will be occasions to bend but it should not become the norm.
On the politics, it is expected that management and senior account management personnel will handle this. Junior persons should be trained to spot this and report so that such issues can be addressed before they become unmanageable. After, all we are all expected to be successful in the bedroom, the sports room and the boardroom.
Part 2: Required Key Competencies
First, it’s key to recall the need to be competent. In actual fact – super competent. The proliferation of the Experiential industry via reasons ranging from greed, ideas plagiarism, sentimental relationships, lack of control and caution, economic lapse exploitation, etc. brought us to the point where being a grounded and proper experiential marketing professional is no longer enough.
The following will aid the aim of this report.
2.1Knowledge demonstration
As sentimental as the clime has become, it’s critical to know a whole lot about the space in which you operate – the business/brand, target, market, competition, strengths, weaknesses, requisite strategy and penetrative window. The more youknow about your product, the better you’ll be at servicing it. Make training a key part of your support operations. In essence, provide the platform for regular business solutions using applicable indices
2.2Understand communication disciplines
know and understand the functionality and application of other relevant aspect of client brand/business, going into the market. For instance, it only improves your standing when you advise correctly on PR codes and deployments, in a purely experiential meeting.Listen to customers (and share their feedback).
Service agents should always ask questions when interacting with clients. The more you know about your customers and their needs, the more of an asset those clients are to your business.
2.3Develop and maintain great relationship skills
Be the nucleus of the relationship wheel that oils other parts effectively. Let relationships be clearly defined, tailored towards the best interests of the client in a manner that does not appear complicated. Get to the level where nothing happens until you are in the picture. Be somewhat indispensible, neither openly nor overtly.
2.4Develop great selling and negotiating skills
Have ability to identify common ground while ensuring win-win situations always. Communication remains essential – in hearing and listening. Confidence and persuasion are key attributes without appearing domineering. Ensure the best for the client’s brand/business, as well as the Agency you represent. Be a 2-way profit making machine
2.5Understand finance and
its models
Know appropriate items costing, internal and external regulations, invoicing and billing modalities, as well as basic bookkeeping and reconciliation. What better way to improve client confidence and trust in her Agency other than by proper finance management?
2.6Understand Client environmental hierarchy
Know client structure and her office power players. Make very informed moves only and stay clear of their politics. Take full responsibility for all projects engaged in and make proper consultations when due. Support the intention and pass information accordingly. Ensure you are the active force from Agency perspective, behind projects.
2.7Be timely and consistent
Be known to deliver on time and in full, always. Never fall below expectation. Speed is important, but resolution times should never trump customer satisfaction.Promise less (as tactical as possible) and deliver more. Always surprise your client pleasantly and be sure to solve each problem completely always.
2.8Be honest about what you don’t know.
If you aren't sure how to troubleshoot a problem, it's okay to let the client know that they’ll get in touch with the right person and circle back when they have an answer. Nobody likes a know-it-all (especially a know-it-all that doesn’t actually know it all). Maintain an open dialogue with your clients and keep them informed at all times; it’ll earn you their respect and commitment.
Part 3: IMPROVE YOUR CLIENT DATABASE
(AND BUSINESSES THEREAFTER)
As much as the Agency is in business for profit (primarily) reasons, the profit-fetching businesses must never be underestimated. The business done between client and Agency are the platforms for profitability and sustainability. Hence, improve client perception of you and ultimately help build their business/brand. Here are a few reasons to adopt proffered solutions in (2)
3.1 Sustainable business model
To stay in business and remain relevant, it’s important to demonstrate needed flexibility as always required by client, across every aspect. A systemic structure that works gives your client the necessary comfort feel.
3.2 Professionalism
Clients are generally comfortable with Agencies who know their business clime excellently, even more than them. They know your solutions are well informed, following deep research. They can go to sleep while you run the show. However, never get in their faces with it. Else, you run the risk of putting them off.
3.3Dynamism
The only thing that should be predictable about you as the client’s Agency is your consistency and effectiveness. Proffer solutions in ways that are unique and next to none. They know you will deliver, but they don't know how. Never!
3.4Achieve again and again:
Do what you say you will do. Give them room to make input and let it show in your output. Do it on time, excellently and measurably. Do more than you promised. In essence, do it better than they expect, with even better results (figures are key).
3.5Informed market research propositions
Without being requested to examine their brand/business; without receiving briefs for action, conduct self-sponsored market survey with the aim of taking subject brand/business to the next level. As such, Agency positions herself at the level of partnership, much more than the “suppliers” littered all over.
3.6Financial prudence
Get the best at the least possible cost. Ingenious thinking towards desired output creates improved bottom-line effect; A win for both Agency and client.
“Customer Service is everything and anything that touches a customer – directly or indirectly. Customer service means servicing customers and it's so much more than just solving problems or addressing complaints. Customer service is part of a holistic customer experience that is capable of providing a critical competitive advantage in today'sincreasingly cluttered and commoditized marketplace”.
Joseph Jaffe, Founder at Evol8tion
3.7Re-evolve
Times change, whether we are prepared on not. Technological advancements are almost on the go. Do not be caught napping, move with time and apply these changes in your clients’ businesses
Part 4: The Go-To Agency Drive
4.1 Sustenance
Being one of the few Agencies capable of meeting client 360 expectation and surprises, your business relevance almost certainly is assured. You are neither old school nor new school; not fixated and/or stereotyped; neither difficult nor rigid. You can always adapt to requisitions, which ultimately ensure you stay in business.
4.2Profitability
Quite simply put – the more solutions you provide, the more your Agency income gets. Whether you were sent the brief and you created one yourself, the end result is the invoice!
4.3Exposure
It’s only natural that an excellent delivery attracts even more business, be it within same system or outside. The ripple effect increases provided the delivery stays true and consistent. Multinational brands naturally want Agencies who handle competition brands.
4.4Fulfillment
For(passionate) experiential Agencies whose aim is to produce unique business solutions to clients, most of the satisfactions derived with solutions provided are innate. Seeing your ideas come to life can be pleasing, much morethan the monetary gains therein. As a result, the drive to want to break further grounds burns deep
4.5Identity
at the mention of your Agency name, a special chord is struck. At the thought and/or sight of a great brand experience, you readily come to mind. Even when someone else did that great job, most will link it to you. This is because that is what you are known for – excellence!
Part 5: JUSTIFYING THE MEANS
Largely, you need to be EXPERIENCED by your client, as their Agency. Retrace your structure and re-align to reality. For all of what the client expects of her Agency strategically, professionally and even emotionally, begin to get to grips. Tailor your staff recruitment towards the ultimate goal. Think out of the box and deliver expediently – always. Knowing what all clients expect of you, channel resources available to you in that direction.
All the above put together creates needed TOMA for you and your Agency, within the client’s system. Since they know you tactically manage their ego, respect and infuse their points of view, deliver above and beyond their expectation and are readily available, they will always speak to you FIRST
Part 6: RECOMMENDATION
GET IT TOGETHER
Be ready and open-minded.
Be liberal and attentive.
Talk less and only make critical inputs: such, which may not be overlooked. Before the job kicks off, personalities come face to face. No client will be intimidated by any Agency representative, even if your ideas are from the moon. Break the egocentric wall and create a mutually conducive working relationship and environment. Know when to call, send an email or text. Reply client messages immediately, even if the expected action might take hours to be completed. Stay one step ahead without showing it
Spend less than what was approved, even after protracted negotiations. Deliver in record time without comprising standards. Be there before, during and after your client and their superiors. Manage them yourselves and always make them confortable. Let your solutions be measurable and put in sustenance measures. When agreed ideas are implemented, let it WOW them. Conduct all reconciliations nicely and strategically make client come through for you. Send in reports even before they forget about the experience created. Show that you internalized their brand, business and expectations. You are the man – the Agency
Your client wants to feel at ease, even in the face of pressure from their system. Be the account manager responsible for that ease. Be the life-is-easy Agency they require - Smart thinking, exemplary outcome. Every time.
REFERENCES
Shep Hyken, Shep Hyken, CSP, CPAE
Times bestselling AuthorCustomer Service Expert and New York
The Loyal Customer
published: 1999
Joseph Jaffe, Founder at Evol8tion
Gregory Ciotti: marketing strategist and alum of Help Scout
How to Easily Measure Customer Satisfaction.
JANUARY 28, 2016
Daniel Kahneman
Nobel Memorial Prize in Economics laureate Thinking, Fast and Slow:
published in 2011
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