Challenges in Resource and Project Management

The main pain point for many technology companies lies in resource allocation: who is working on what and when. This lack of visibility and control can lead to underutilization or overallocation of personnel, affecting team morale and project delivery. Currently, many companies try to manage this using spreadsheets like Excel, but this manual solution is prone to errors and does not scale well with business growth.

Additionally, time tracking and project profitability are aspects that are often overlooked or inefficiently managed. Without an appropriate tool, it is almost impossible to obtain a clear view of the profitability of individual projects or team efficiency.

Some of the main challenges faced by technology companies include:

• Lack of visibility → Impact: There is no precise knowledge of the team’s workload to manage resources and projects efficiently. Time loss in generating and sharing reports for clients.
• Profitability calculation per project: are estimates → Impact: Loss of money, lack of knowledge about which services are best to offer. Lack of knowledge about which projects are more or less profitable.

• Inefficient communication between teams and stakeholders, and expectations of quick delivery → Impact: can lead to misunderstandings, scope changes, lower service quality, potential customer loss.
• Overload → Impact: turnover and its consequences.

Automation and Optimization through Management Tools

The implementation of an appropriate project and resource management tool can fundamentally transform the way a technology company operates. These tools not only automate operational and repetitive tasks but also provide clear visibility of resource allocation, project progress, and profitability. The result is significant time savings, which helps the team focus on their tasks and ensures workflow through automation.

Combining centralized tools in a single platform can provide a holistic view of company performance, allowing leaders to make informed decisions based on real-time data. This data generates greater confidence as the information available is always up-to-date. This visibility improves team performance with real-time visual data.

Artificial intelligence incorporated into management tools helps reduce manual work and accelerate productivity.

“A single source of information for everything: teams linked across the organization on a single centralized work platform.”

Having all the information in one place allows for a better understanding of the work that needs to be done. It provides ease and agility at the collaboration level. An integrated platform like COR provides IT teams with the visibility needed to deliver quality service, regardless of where they are located. It allows team members to collaborate, share knowledge, and receive instant feedback.

Teams can quickly provide excellent service experiences

Companies working with agile software development methodologies seek to deliver small working pieces of software in a short time to increase customer satisfaction. These methodologies use flexible approaches and teamwork to deliver continuous improvements.

Transparent interaction, teamwork, flexibility, and mutual trust are fundamental in the practice of agile methodology. Although it is generally the project leader or product owner who sets the delivery priorities, it is the team that takes the lead in execution, deciding how to organize and break down the work into specific tasks and responsibilities independently.

Teams that adopt the agile methodology are equipped to quickly adapt to market variations or consumer opinions without compromising the complete annual planning. However, in this approach, numbers are not the central element; people are the priority. Establishing relationships with customers and colleagues takes precedence over following strict protocols, and delivering solutions that effectively meet customer needs is more crucial than producing extensive and detailed documentation. An agile team maintains a unified vision and works together to materialize it in the best way they consider. They set their own standards of quality, usability, and integrity. Their own interpretation of “completed” guides the speed at which they progress in their tasks. Although this approach may seem daunting at first, business leaders find that placing trust in an agile team results in greater dedication and an effort to meet or even exceed management expectations.

Complete visibility across the organization allows for better management criteria and brings together teams and tools for coordination that leads to remarkable results.

A management tool provides a centralized, flexible, and collaborative way to deliver the exceptional service that customers expect. Through efficient management, teams can provide exceptional operational and support services.

Success Case: Integration and Analysis

A successful strategy is to move resource management out of Excel and use dedicated tools that integrate with project tracking systems like COR. This allows technology companies to move from manual planning and tracking to a more automated and data-driven approach.

Automating data collection and analysis allows sales and marketing teams to optimize their tasks, focusing on value-generating activities such as prospecting and building customer relationships, rather than data management. Additionally, real-time visibility of schedules and team workload improves resource allocation, leading to better project planning and execution. It also helps teams capture and prioritize projects so they can align their roadmaps and focus on the highest impact opportunities.

The leader can prioritize and analyze the team’s work in context and with visibility at all levels. Developers can focus on their work while the company remains coordinated. From planning to progress visualization, backlog management, and error tracking, COR facilitates seamless collaboration throughout each project’s stages using agile best practices.

RESULTS:

• Increase in operational efficiency and optimization in resource allocation for IT projects.
• Improvement in collaboration and communication between technical and non-technical teams.
• Effective communication and a comprehensive view of project profitability.
• Integration of everything into one platform, avoiding manual work.

Profitability and Success Measurement

Finally, a comprehensive management tool allows for better measurement of profitability and effectiveness. By automatically tracking time and costs associated with each project, companies can quickly identify those that exceed budget or schedule.

Through platforms like COR, powerful analysis and reports are obtained. Valuable performance insights can be visualized, bottlenecks can be identified, and data-driven decisions can be made to continuously improve processes.

Conclusion

Technology companies face unique challenges that require innovative solutions. Adopting comprehensive management tools is not just an operational improvement but a strategic transformation that can lead to greater efficiency, profitability, and success in the current competitive market. By focusing on automation, visibility, and analysis, technology companies can overcome their current challenges and position themselves for future growth.

The post How management tools can solve current challenges in Tech Companies appeared first on COR.

From defining roles and responsibilities to implementing technological tools like COR, we explore key methods to achieve smooth and profitable operations. Get ready to discover how to transform your consulting firm and achieve the financial success you desire.

Strategies for Efficient Organization

“An efficient organization is the foundation of a profitable consulting firm”

To achieve this, it is essential to establish clear and effective processes. Define precise roles and responsibilities for each team member, ensuring everyone understands their tasks and how they contribute to the overall goal of the company.

• Defining Roles and Responsibilities

It is vital that each team member has clearly defined roles and responsibilities. This involves not only assigning specific tasks but also ensuring everyone understands how their work contributes to the success of the project and the company overall. Clarity in expectations allows each person to know what is expected of them and how their performance impacts the final outcome.

• Process Documentation

Another crucial aspect is process documentation. Having well-documented processes ensures that all team members follow the same steps and procedures, reducing the possibility of errors and increasing efficiency. This also facilitates the training of new employees and ensures work continuity in case of absences or staff rotations.

• Automation of Repetitive Tasks

The automation of repetitive tasks is another crucial strategy. Many administrative and operational tasks can be automated to save time and reduce errors. Project management tools, such as COR, can be very useful in this regard. These platforms allow for centralized project management, facilitating task assignment and real-time progress tracking.

• Implementation of Management Tools

“Using appropriate management tools can transform the way your consulting firm operates”

COR, for example, offers functionalities that help keep all aspects of the project organized in one place. From task assignment to time and cost monitoring, COR facilitates comprehensive management that optimizes team performance.

• Continuous Review and Improvement

Implementing a continuous review and improvement process is essential. This involves regularly evaluating current processes and procedures to identify areas for improvement. Collecting feedback from the team and clients can provide valuable information on how to further optimize efficiency and profitability. Using management tools like COR can simplify this process, allowing for detailed review and data analysis for informed decision-making.

Resource Optimization

Optimizing the use of your resources is vital to increasing profitability. This involves not only efficient time management but also budget and personnel management. Proper administration of these key elements can make a significant difference in the overall performance of your consulting firm.

• Time Management

Efficient time management is fundamental to optimizing resources. This includes detailed task planning and appropriate time allocation for each task. Using time management techniques, such as the Pomodoro method or the Eisenhower matrix, can help prioritize tasks and ensure they are completed in the shortest possible time without compromising quality.

• Budget Management

Efficient budget management is equally crucial. This begins with the development of detailed budgets for each project. Establishing a clear budget allows for anticipating needs and avoiding unnecessary expenses. It is important to review and adjust these budgets periodically to ensure they remain aligned with the project’s financial objectives. Management tools like COR can be invaluable in this regard, providing visibility and control over costs and ensuring each project stays within the established budget.

• Personnel Management

Optimizing personnel involves assigning tasks in a way that best utilizes the skills and capabilities of each team member. This not only improves efficiency but also increases job satisfaction and motivation. Conducting periodic performance audits of the team and adjusting task assignment strategies based on the results can help identify areas for improvement and ensure all human resources are utilized optimally.

• Periodic Audits

Conducting periodic audits is essential to identify areas for improvement in resource utilization. These audits can reveal inefficiencies and provide valuable information on how to adjust strategies to improve performance.

“Audits also allow for informed decisions on where to invest additional resources and how to redistribute existing resources for better results”

• Financial Planning

Good financial planning allows you to anticipate needs and avoid unnecessary expenses. Establish clear budgets for each project and monitor their compliance. Financial planning also involves anticipating potential contingencies and establishing reserve funds to cover unforeseen events. Again, management tools like COR can help you maintain rigorous cost control, providing detailed reports and analyses that facilitate real-time budget tracking.

Improving Customer Satisfaction

Customer satisfaction is a determining factor for the success of any consulting firm. To ensure clients are always happy, it is essential to maintain constant and transparent communication. Regularly informing them about the progress of their projects not only strengthens the relationship but also allows you to identify and proactively resolve problems.

• Constant and Transparent Communication

Constant communication is key to keeping clients satisfied. This involves providing regular updates on the status of projects, including milestones achieved, deadlines met, and any challenges that have arisen. This transparency builds trust and shows clients that you are committed to their success.

• Proactivity in Problem Solving

Informing clients about any problems that may arise and how you plan to resolve them is crucial. Proactivity in problem-solving shows your commitment to the project and helps avoid misunderstandings or frustrations. Clients value knowing that their consulting firm is prepared to handle any situation that arises.

• Feedback Collection and Analysis

Customer feedback is invaluable. Implementing a system to collect and analyze their opinions is essential for improving your services. This can include post-project surveys, review meetings, and satisfaction questionnaires. By analyzing this information, you can identify areas for improvement and adjust your strategies to better meet your clients’ needs.

• Service Personalization

Each client is unique, and their needs may vary. Personalizing your services to adapt to each client’s specifics can significantly improve their satisfaction. This includes adjusting communication methods, offering tailored solutions, and being flexible to their requirements.

“Showing a deep understanding of the client’s needs and adapting your services accordingly strengthens the relationship and promotes loyalty”

• Team Training and Development

A well-trained team is crucial to providing high-quality service. Investing in the continuous training of your team ensures they are up to date with the latest trends and techniques in consulting. A competent and motivated team can provide exceptional service, resulting in more satisfied clients.

Conclusion

Effectively organizing your consulting firm and maximizing profitability is not an easy task, but with the right approaches, it is entirely achievable. Establishing clear processes and defined roles ensures smooth and efficient operations. Resource optimization, through precise time, budget, and personnel management, increases profitability and efficiency.

Customer satisfaction is crucial; constant communication and proactivity in problem-solving strengthen relationships and increase loyalty. Additionally, implementing management tools like COR can simplify and improve each of these aspects, providing comprehensive control and detailed analysis for informed decision-making.

Ready to transform your consulting firm? Start implementing these strategies today and take your business to the next level. Discover how COR can help you achieve it!

The post Transform Your Consulting Firm with This Ultimate Guide to Maximize Profitability appeared first on COR.

Profitability optimization starts with transparency and internal visibility of projects and resources. A lack of visibility in this aspect can lead to underutilization of resources and decreased profitability. Transparency not only builds solid relationships with clients by sharing internal processes but is also essential for effective time and resource management.

In the professional services sector, timely delivery and strategies are crucial, but internal management is equally critical to be efficient and profitable. Transparent management implies having complete visibility of operations, which allows for avoiding time deviations and accurately estimating the hours dedicated to each project. This knowledge is vital for renegotiating rates and avoiding common problems such as disparities between the work sold and the work executed.

The first step to stop thinking of visibility as a problem and transform it into a benefit is to have all the project information in one place and thus be able to identify deviations.

Centralized visibility: the first step

Having visibility of deviations with the client, i.e., the difference between the actual hours spent and the hours budgeted at the beginning, allows for a more reliable ground for negotiating rates.

Concrete data about the time and resources used in projects are essential for communicating to the client the value of the work performed, including time, creativity, and expertise provided.

Moreover, project management and the availability of dashboards for real-time visibility are crucial for identifying deviations and improving communication with clients. This includes visibility of deviations, deliverables, rework, and operational capacity, which are fundamental for the proper allocation and management of resources.

Companies that provide professional services need to demonstrate to the client with concrete data what the causes of time deviations are and thus reach the stage of renegotiating rates. Thanks to the correct use of a project management tool, we can know these data.

Capacity planning and project monitoring are fundamental tools that only a few consultancies use adequately.

Visibility in processes with clients allows us to achieve fluid feedback, allows us to detect quick deviations, or identify over-requests in a more agile manner, allowing us to address the issue in time, thus aligning the expectations and priorities of the project itself and with delivery times. Having this visibility and having a tool where all this data and communication with the client can be centralized is key to a good relationship with the client.

Anticipation and Strategic Management

The key is to anticipate post-mortem analyses of deviations and instances of renegotiation contextualized with concrete and timely data (it’s not about claiming things that happened 6 months ago, much closer checkpoint instances can be made).

Transparency and strategic management can transform the relationship with clients and anticipate renegotiation needs, avoiding late conflicts.

Through meticulous tracking of time and demonstration of the tangible impact of resource management on project outcomes, consultancies can instill confidence and foster long-term partnerships based on respect and mutual understanding, achieving more fair rates based on real and updated data.

Visibility allows knowing which services, clients, or projects contribute to or detract from your profitability.

It is essential to make adjustments in the initial budgets/SOW. Defining and agreeing on an initial scope of work, monitoring its execution, and adapting to changes and new requests are key steps to maintain profitable projects and relationships. This approach prevents problems such as low wages, high turnover, and talent loss, ensuring the company’s success and differentiation in the long term.

In summary, the process is “we define/agree on an initial SOW”. We start executing, and the key is to show how we are doing against that SOW. Brands also do not benefit when a consultancy does not have profitable clients/projects. Maybe in the short term, yes, but in the long run, this will turn into > low wages > turnover > loss of talent > loss of differential > loss of clients due to lack of added value.

Identification of profitable and non-profitable clients

Get a complete picture of all the types of services you offer, to be able to discern which ones are profitable for you and which require adjustments. Avoid competing for services that may generate losses and compete for campaigns that do not align with the value of your team’s time.

New technologies can help predict profitability in real-time and negotiate better rates.

• Identifying the clients and projects that contribute to or detract from your profitability: Through dashboards, you can get information on the most profitable clients and projects versus those that bill the most. It is essential to make decisions to correct the profitability of your projects before finishing them at a loss.
• Understanding which services contribute to your business’s profitability: Get a complete picture of all the types of services you offer, to be able to discern which ones are profitable for you and which require adjustments. Thanks to the analysis of budgeted hours, estimated hours, and invested hours, in real-time, you can make decisions that favor your profitability.

Conclusion

The first step is to manage our operations based on information to, with it, provide visibility to our clients.

Real data and access to information on the progress of each project, the rework, and the status of each, generate greater transparency and trust with clients to negotiate fairer rates.

The post Steps to identify which services generate the most profit appeared first on COR.

Challenges in Resource and Project Management

The main pain point for many technology companies lies in resource allocation: who is working on what and when. This lack of visibility and control can lead to underutilization or overallocation of personnel, affecting team morale and project delivery. Currently, many companies try to manage this using spreadsheets like Excel, but this manual solution is prone to errors and does not scale well with business growth.

Additionally, time tracking and project profitability are aspects that are often overlooked or inefficiently managed. Without an appropriate tool, it is almost impossible to obtain a clear view of the profitability of individual projects or team efficiency.

Some of the main challenges faced by technology companies include:

• Lack of visibility → Impact: There is no precise knowledge of the team’s workload to manage resources and projects efficiently. Time loss in generating and sharing reports for clients.
• Profitability calculation per project: are estimates → Impact: Loss of money, lack of knowledge about which services are best to offer. Lack of knowledge about which projects are more or less profitable.

• Inefficient communication between teams and stakeholders, and expectations of quick delivery → Impact: can lead to misunderstandings, scope changes, lower service quality, potential customer loss.
• Overload → Impact: turnover and its consequences.

Automation and Optimization through Management Tools

The implementation of an appropriate project and resource management tool can fundamentally transform the way a technology company operates. These tools not only automate operational and repetitive tasks but also provide clear visibility of resource allocation, project progress, and profitability. The result is significant time savings, which helps the team focus on their tasks and ensures workflow through automation.

Combining centralized tools in a single platform can provide a holistic view of company performance, allowing leaders to make informed decisions based on real-time data. This data generates greater confidence as the information available is always up-to-date. This visibility improves team performance with real-time visual data.

Artificial intelligence incorporated into management tools helps reduce manual work and accelerate productivity.

“A single source of information for everything: teams linked across the organization on a single centralized work platform.”

Having all the information in one place allows for a better understanding of the work that needs to be done. It provides ease and agility at the collaboration level. An integrated platform like COR provides IT teams with the visibility needed to deliver quality service, regardless of where they are located. It allows team members to collaborate, share knowledge, and receive instant feedback.

Teams can quickly provide excellent service experiences

Companies working with agile software development methodologies seek to deliver small working pieces of software in a short time to increase customer satisfaction. These methodologies use flexible approaches and teamwork to deliver continuous improvements.

Transparent interaction, teamwork, flexibility, and mutual trust are fundamental in the practice of agile methodology. Although it is generally the project leader or product owner who sets the delivery priorities, it is the team that takes the lead in execution, deciding how to organize and break down the work into specific tasks and responsibilities independently.

Teams that adopt the agile methodology are equipped to quickly adapt to market variations or consumer opinions without compromising the complete annual planning. However, in this approach, numbers are not the central element; people are the priority. Establishing relationships with customers and colleagues takes precedence over following strict protocols, and delivering solutions that effectively meet customer needs is more crucial than producing extensive and detailed documentation. An agile team maintains a unified vision and works together to materialize it in the best way they consider. They set their own standards of quality, usability, and integrity. Their own interpretation of “completed” guides the speed at which they progress in their tasks. Although this approach may seem daunting at first, business leaders find that placing trust in an agile team results in greater dedication and an effort to meet or even exceed management expectations.

Complete visibility across the organization allows for better management criteria and brings together teams and tools for coordination that leads to remarkable results.

A management tool provides a centralized, flexible, and collaborative way to deliver the exceptional service that customers expect. Through efficient management, teams can provide exceptional operational and support services.

Success Case: Integration and Analysis

A successful strategy is to move resource management out of Excel and use dedicated tools that integrate with project tracking systems like COR. This allows technology companies to move from manual planning and tracking to a more automated and data-driven approach.

Automating data collection and analysis allows sales and marketing teams to optimize their tasks, focusing on value-generating activities such as prospecting and building customer relationships, rather than data management. Additionally, real-time visibility of schedules and team workload improves resource allocation, leading to better project planning and execution. It also helps teams capture and prioritize projects so they can align their roadmaps and focus on the highest impact opportunities.

The leader can prioritize and analyze the team’s work in context and with visibility at all levels. Developers can focus on their work while the company remains coordinated. From planning to progress visualization, backlog management, and error tracking, COR facilitates seamless collaboration throughout each project’s stages using agile best practices.

RESULTS:

• Increase in operational efficiency and optimization in resource allocation for IT projects.
• Improvement in collaboration and communication between technical and non-technical teams.
• Effective communication and a comprehensive view of project profitability.
• Integration of everything into one platform, avoiding manual work.

Profitability and Success Measurement

Finally, a comprehensive management tool allows for better measurement of profitability and effectiveness. By automatically tracking time and costs associated with each project, companies can quickly identify those that exceed budget or schedule.

Through platforms like COR, powerful analysis and reports are obtained. Valuable performance insights can be visualized, bottlenecks can be identified, and data-driven decisions can be made to continuously improve processes.

Conclusion

Technology companies face unique challenges that require innovative solutions. Adopting comprehensive management tools is not just an operational improvement but a strategic transformation that can lead to greater efficiency, profitability, and success in the current competitive market. By focusing on automation, visibility, and analysis, technology companies can overcome their current challenges and position themselves for future growth.

The post How management tools can solve current challenges in Tech Companies appeared first on COR.

Project management is both an art and a science. At the heart of this balance is budget management. For creative agencies, keeping budgets under control is crucial for being profitable and achieving positive outcomes in both the short term and long term.

Between Planned and Actual: Understanding Deviations in the Industry

93% of agencies report deviations from their initial budgets. This figure is more than just a simple statistic; it’s a wake-up call about the need for greater visibility.

The root of problems in the industry is directly related to time deviations. These deviations can make a project unprofitable or lead to a resource being oversold. If an agency seeks to improve the management of its resources, it needs to know the capacity of its team.

A deviation refers to the difference that arises between the budgeted amount and the amount that ultimately results when planning a project for a client, such as a campaign. This deviation can occur in any line of revenue and expenses.

Visibility is not just a buzzword. It’s the ability to clearly see every aspect of a project in real time. From resource allocation to time tracking and progress, visibility allows agencies to keep projects on the right track and make decisions based on real data.

The cause of the major challenges facing agencies is the time deviation between what is sold and what is executed. Consuming more time than estimated makes profitable orders stop being so, and teams that would be available to take on new projects end up overloaded with work with new requirements for the same type of deliverable. Additionally, today employee turnover in the industry is at its peak, which is due, in quantitative terms, mainly to employee salaries and their workload.

“Nowadays, fees do not represent the total value of the work”

The term “deviation” has been a persistent headache for agencies. At first glance, it may seem like a small mismatch between what was planned and what was achieved. But, in reality, these deviations have deeper ramifications that can affect an agency’s profitability and reputation.

In the creative industry, time is essential. Every hour counts, and each hour not accounted for correctly can lead to financial losses and missed opportunities. Deviations arise when there is a lack of alignment between client expectations and the agency’s actual capacity.

This imbalance can be attributed to:

• Lack of clear communication with the client.
• Lack of a robust project management tool.
• Not understanding the real capacity of the team.
• Lack of visibility on the actual progression of the project.

To overcome these challenges, it is essential to adopt tools and practices that provide transparency and real-time data. Furthermore, agencies should strive to establish clear communication with their clients, clearly defining the scope, expectations, and potential challenges.

Transparency of Assigned Resources for Each Project and Budget Estimation

It is crucial that agencies do not view visibility merely as a way to control costs. Instead, it should be seen as a way to improve project delivery, strengthen client relationships, and ultimately drive profitability.

In the absence of visibility, challenges arise. Unplanned change requests from clients, inaccurate estimates, and tight deadlines can quickly derail a project. Each deviation can impact the final outcome and, more importantly, profitability.

Having a real-time view of project progress is also essential for communication with the client. By keeping the client informed and aligned with the process, expectations can be managed and client satisfaction ensured.

How much will it cost to execute your project? What resources are needed to carry out your project?

In today’s digital age, the amount of data available is overwhelming. But having access to data is not enough; clarity is needed. Firstly, agencies must be able to break down and analyze this data to get a clear picture of where the necessary resources for each project are being spent and whether those expenses are generating the desired return on investment.

Agencies need to demonstrate to the client with concrete data what are the causes of time deviations and thus reach the stage of renegotiating fees. Thanks to the correct use of a project management tool, we can know:

• how long it takes an agency to complete them
• what fees they contemplate according to the areas
• how long it takes a designer to complete a project based on their seniority
• the comparison between teams when analyzing productivity
• Once this internal information is collected, the natural step to give access to a client is to show it. When an agency lacks internal information, it becomes very difficult to show its processes to an external client. The first major recommendation is to be clear about the time and human memories that the projects involve.

To achieve 100% transparency, we must communicate to the client that the quotes have monetary value in:

• Time invested
• Knowledge
• Creativity

Innovative solutions to visualize the operation of the agency

From a technological standpoint, modern project management tools are essential for achieving this visibility. These tools offer a real-time view of each project, allowing agencies to identify and address deviations before they become larger issues. This should be one of the strategic goals of every agency to seek to be more profitable and achieve a fair and effective budgeting process.

Without clear visibility, agencies may find themselves reacting to problems instead of anticipating them. Proactivity, fueled by a clear vision of the project and budget, allows for real-time adjustments, which maximizes efficiency and minimizes losses.

The post Visibility: the guardian of each project’s budget appeared first on COR.

In the dynamic world of creative agencies, profitability becomes a constant concern. Not just for the financial aspect, but also for sustainability and growth. A powerful tool that is often overlooked in this context is the strategic renegotiation of fees.

Within the vast universe of observations and insights from some of the major advertising, marketing, and media agencies, a notable trend emerges: numerous agencies have managed to significantly boost their profitability by granting their clients full visibility of the working process and offering a tool for collaboration and transparency. This openness not only generates trust but also becomes a competitive differentiator in the market by ensuring a better way to visualize what is invested in each project. It is a trend that is present in agencies around the world, including Latin America, Spain, the United States, Mexico, among others.

The Dual Benefit of Transparency

The impact is twofold. On one hand, this transparency has opened doors to new business opportunities, allowing agencies to r On the other hand, by having a clear understanding of the hours and resources involved in a project, agencies can establish more accurate and suitable rates for emerging business opportunities.

Proactive Management: Key to Success

Effective management is not merely a day-to-day operation; it is an art. For an agency to position itself advantageously, it is crucial that it can review, adjust, and continuously renegotiate its scope of work. It is not about waiting months or even years to make adjustments, but about being proactive and anticipating the changing needs of the client and the market. This management must be a key part of the business’s strategic planning.

The Importance of Concrete Information and Data

Adjustments in the scope of work are not arbitrary. They are based on data, on constant feedback, and on a deep understanding of the agency’s operations. It is essential to recognize that such improvements and adjustments are not possible if there is not complete and up-to-date information of the operations. There are no success stories without transparent and full access to operational data.

Steps for Successful Renegotiation

So, what is the path forward for agency and client?

• Define the initial scope of work: Both parties must be clear about the expectations, deliverables, and resources needed from the beginning. The overall goal should be clear.
• Agree on the fee for that project: Once the scope is defined, a price is established that reflects the value and work that will be contributed.
• Execution of the scope of work: During this phase, the agency must be transparent, showing the client how the project is progressing as agreed, giving visibility to each step.
• Evaluation and adjustment: At the end, or even during the process, the results should be reviewed, evaluating whether adjustments are necessary or if new requests from the client arise. This is the renegotiation phase, where fees can be reviewed based on changing needs.

Conclusion

In an increasingly competitive market, transparency, adaptability, and collaboration are key to driving success and profitability in the world of agencies. The strategic renegotiation of fees is more than a financial tactic; it is a management philosophy that, when applied correctly, can transform the trajectory of an agency and achieve a competitive advantage in the business model within the industry.

The post Strategic Fee Renegotiation: Driving success and profitability in agencies appeared first on COR.

If you’re a marketer, you have most likely considered working for an agency at one time or another. The benefits can be alluring. Marketing agency jobs are typically more plentiful than client-side marketing roles, and the compensation can make these opportunities very attractive. 

When we talk about roles in an agency, we’re actually discussing types of jobs. In a chaotic environment where clients are gods and deadlines are doomsdays, the lines between these jobs become blurred. 

It’s not uncommon for one person to perform more than one role and for a group of people to juggle the same role between them. What matters is that the job gets done right within a specific time frame. Defining “ done right” and specific time frame. To do this, we need to take a few steps back and talk about client relationships, team coordination, and time management 

Marketing careers often include at least one stint at an agency. However, some people are better cut out for agency life than others. In this article, we´ll be talking about the benefits of COR in the roles of an agency and the benefits of working at a marketing agency, using the software. But first…

Adopting a new working tool can be sometimes a nuance

The world of business and work life is scaling all the time and evolving at a pace that sometimes is difficult to follow, but it is necessary by all means to make our lives easier. Now then, it’s not a surprise that your agency implements new tools such as COR to streamline processes, improve teamwork and make tasks less – time-consuming for your teams. And yet, as intuitive as they are, these tools generate many support tickets for your internal teams. Worse still, some may be reluctant to them, and never use them, sticking to manual spreadsheets, for example. 

It’s not enough to simply choose a good tool for your team. If your team doesn’t use them, it just doesn’t cut it. So how do you encourage user adoption of COR to help make the most of your investment and see results?

In order to implement it successfully, you have to put a clear process in place. Follow the next steps and bring joy and wonder to your team.

• Recognize Your Need 

The first step in implementing a new tool is recognizing your needs and anticipated goals. Every new tool or service responds to a pain point: a challenge that drives down revenue, productivity, or employee satisfaction. Write down the problem you’re hoping to solve with COR and your benchmarks for a successful implementation process. Without your challenges and goals as a guide, it’s impossible to chart your path toward a better work environment. 

• Give it some days

Before you commit to a new tool and make a financial investment, do your homework.

As you test the tool, consider the following questions: 

• Is this tool intuitive and user-friendly? 
• Does it offer a reasonable improvement from our current process?
• Will it help us to meet our goals?
• How will it make our jobs better or easier?

a little hand on work ensures that your new application is effective enough to warrant a big change. If you’re ready to commit after 30 days of testing it every morning, start preparing for the transition. 

• Share with management 

The answer to the question “ How will this tool make your employees’ lives better? is your pitch to management. When you introduce the change, lead with your company’s pain point. Does a bad scheduling system weigh down your management team and contribute to absenteeism? Offer a well-planned solution. 

Your managers set the tone for transitions, helping rally support around a new product. They’re also your best bet for getting stragglers on board with the change. The job of the manager is to help people cross the bridge to get them comfortable with the technology, to get them using it, and to help them understand how it makes their lives better” Make sure to emphasize how much you appreciate their support as your business moves forward in a different direction. 

• Choose the Project Manager for the task 

As tempting as it is to take the helm on a new implementation process, identifying a project manager can help get everyone on board. Pick a team member who exhibits excellent communication skills, technological prowess, and the desire to grow professionally. 

By giving a manager or manager in training the opportunity to lead the transition, you bring another person to the cause. Explain the role of the project manager: to serve as the point person for the project, develop training, and respond to any challenges that may arise. Offer your support and guidance, planning the transition in tandem with your new project manager. 

• Evangelize COR

Now, you have to get everyone on board. As you introduce a tool into your organization, evangelize the product. In the startup world “ evangelize” refers to the process of popularizing a tool with enthusiasm and passion. 

By becoming an “evangelist” of the tool, you set an example for skeptical employees who otherwise may resist positive change. 

• Customize hands-on learning

Instead of offering one workshop and calling it a day, offer a few different options. Consider sharing access to any interactive training or resources from the agency that released your tool. 

Embrace one on one training to ensure employees’ engagement with the process rather than zone out during company meetings. Emphasize hands-on learning and make it fun! By developing positive associations with this new product, you foster a forward-thinking environment that is more apt to adopt new tools. 

• Ready. Set. Test

Pick a low-stress opportunity to give your tool a trial run. Let’s say you own a few coffee shops in various parts of town, give employees advanced notice, and choose one low-volume shift to implement the tool. Be on hand, along with the project manager, to help employees adjust to the new procedure. 

When possible, implement COR while keeping your old process in place as a backup. As your team adapts to a new tool that affects them, they can always turn to their old ways of doing things in a work emergency. Although slower, this approach fosters a steadier transition. 

• Ask For Candid Feedback 

Your staff knows how to do their job better than everyone else, for successful integration into your work dynamic, consider feedback. To encourage employees to give honest feedback, set up office hours when you and your project manager are available to discuss the new tool. 

Always set up an anonymous way to share ideas, as well, so employees know they can reach out without giving their names. 

• Make adjustments as Needed

Did you or your employees share challenges or negative feedback? Do a little digging to see if you can neutralize the issue. Be vocal about your needs, and you can optimize the success of implementing COR on a daily basis. 

• Roll Out the tool

Now that you’ve recognized your pain points and goals, evangelized the product, and integrated feedback, you’re ready to roll out the tool across your business. If you have multiple businesses under your leadership, think about what is more realistic: a simultaneous rollout or a staged release. 

So now that we’ve explored how to successfully implement COR in a workplace, let’s carry on with the benefits found within each member of your team. 

Benefits for your employees

• C Level Users 

The job for C – level employees is all about keeping clients satisfied and the advantage of this is that it takes this relationship to the next level. They can quote projects quickly with a preset service built by them, they have full transparency over workflows which is crucial for clients because openness in this process is vital. 

Among other benefits, C-level employees highlight the fact of visualization of any deviations to accorded fees in real-time, which makes renegotiations much easier. Access to mission-critical information anywhere and anytime, allowing for a broader and clear picture of overall cost, performance, and profits. This enables better prediction over upcoming projects and their association fees and gets ahead of possible financial risks.

The possibility of having a high-level overview helps to create healthier and more flexible work dynamics. You don’t have to keep spending week after week looking for new employees, attrition will cease to be a problem. So it’s really a win/win scenario. 

• Collaborators 

As a collaborator, you can visualize your pending tasks, but also your PM has a clear overview of your available hours, it doesn’t mean overload doesn’t occur, but it occurs way less than before. 

Tracking time may be cumbersome. COR automatically suggests how much time a task can take, so you can use your spare time to catch up on other projects. It allows you to use your project timeline which is great for setting up priorities. Now, you don’t have to live with the sensation of being at fault with your PM.

• PMs

You can create projects by using templates and because of having an automatic time estimation for each assigned task, you can have a complete visual of your team´s workflow in the Gantt view; as fast as you always wanted to. 

It’s like being a project surgeon who can predict deadlines and allocate resources with extreme precision, avoiding burnout for your employees, which will be very grateful. You may be able to see each client’s approach and therefore see if you need any additional hands. 

It allows easy-to-understand management reports which makes your work smoother for both your boss and your client. Forget about inserting your information manually, it will be there for you to access whenever you want.

Now let’s move on to the broader benefits brought to your agency as a whole. 

Benefits for your agency 

The benefits are just countless. Tools like COR, as an all-in-one agency management software, can be the only thing that keeps us from throwing our toys out of the pram and having a total meltdown. Without it, you can find yourself drowning in an endless sea of spreadsheets, post-its, and paperwork. To get projects out of the door, you need the right tools to make them happen. Here are some areas where COR can help. 

• Better Communication and Team Collaboration 

Now that you have all of your data in one place, you can easily delegate tasks, tag team members in comments, and enjoy document-sharing features. COR facilitates keeping members in the loop about even the smallest of project plans and details. 

It also prevents from getting lost in what otherwise would have been emailing threads, instant messaging chats, or even handwritten notes. This is especially advantageous for teams using agile methodology. 

Knowing who’s meant to work on what also gets rid of confusion, makes progress trackable, and encourages the timely completion of tasks. This also reduces delays caused by the lack of a system and keeps the project planning process organized. Moreso, when every file has a place, everyone can find it, asking for and getting feedback happens faster, and information is never lost. 

Another huge benefit of having all this information easily accessible is the convenience of having reliable data when communicating with clients on the status and everything else. 

• Improved Resource Management 

Resource management is vital for any project team, whether you are part of an agency, a freelance contractor, in creative marketing, or providing professional product services. Whatever your lot in life, you will need to track and allocate resources like skilled and unskilled labor, staff schedules, billable and nonbillable clocked time, project and facility budgets, building resources, and so on. 

Of the most important resources is your team’s time, capacity, and schedules. COR can help you with time management using features for building work calendars, creating Gantt charts, scheduling staff, tracking time spent on tasks, reserving equipment and spaces, and analyzing where resources are going. 

• Simpler Project Reporting and Analytics

COR not only houses your data but also gives you insights into many aspects of your processes and projects. It will come with customizable dashboards for reporting at a glance, as well as an in-depth business intelligence solution that will vary in power from PM to PM tool. 

The next one on the line is project reporting which is a useful way, to compare it with your metrics, and visualize it in a way that can: 

1. Help you strategize your next move based on actionable insights. 
2. Improve your current processes to reduce time and budget waste. 
3. Communicate information clearly to stakeholders across various stages of the project lifecycle. 

• Organized and Centralized Project Data 

With COR no matter what kind of project you’re working on, you can safely centralize project data. This results in an organized system of information that promotes transparency and adds collaboration functionality. 

With a single source of truth, every team member can work on the right documents, make updates in real-time, and rest assured that everyone else working on the project knows when changes have been made. 

Say goodbye to digging through email threads looking inside every folder for the missing pieces of information all while trying to juggle your individual tasks. 

• Improved Remote Work 

Now that all of your data can be found within COR, your whole team can track project progress, refer to due dates, get onboarded to a new project, or work from anywhere, as long as they have an internet connection.

This tool is delivered as a service; this means that you pay a monthly fee and can log into your tool anywhere, anytime, using an IOS or Android app, your web browser of choice, or all of the above. 

COR solutions come with communication features as well as time-tracking tools. Both of these together make managing remote teams easier and more transparent for everyone involved. 

• Better Budget Management  

Staying within budget and saving time are always top priorities, you can see your data, your resources, how they’re being used, planned vs actual usage, and much more. This information, coupled with file-sharing features, enables you and your team to make adjustments and strategize. 

COR includes budget forecasting, which shifts through data from past projects and spits out accurate estimates for current and upcoming projects. Most project management tools can be customized to trigger alerts and notifications if you stay from the intended budget, too. 

It can digest complex budgeting data and portray it in readable reports that can be distributed to investors and stakeholders. As a PM, it’s your job to organize and communicate this information regularly; project management tools can help you do this quickly while reducing manual input errors. 

PM software will often have various ways to shake key budgeting data with stakeholders: personalized dashboards, public/shareable URLs, and printable or exportable reports for dissemination by mail or email. 

• Risk Identification and Mitigation 

COR can show you the bigger picture of how your bits of information piece together. With reports, insights, and a variety of ways to view your data, it’s easier for you to spot issues and opportunities and take action on them as needed. Risk Management is multifaceted, so you’ll want to track both “opportunities” and “threats”. 

Risks can provide just as many books as they can disadvantages; it’s your job as a project manager to asses the risk appetite of the stakeholders, present accurate risk assessments, and build contingency plans for worst-case scenarios. 

COR can help you chart and visualize your SWOT analysis ( strengths, weaknesses, opportunities, and threats) and communicate the whole picture in a clear, concise digestible way to all stakeholders, clients, customers, partners, and your internal team. 

• Increased Process Standardization 

As your team grows, your processes will become more sophisticated and anyone who wasn’t there as things developed may have difficulty catching up. With project management software, there is no such thing as my way or their way, but the entire team’s way. 

Sure, workflows, and views are customizable but populating forms, naming conventions, and everything in between becomes standardized so that anytime you’re on barding someone new to the team, the process is easily teachable. 

COR software offers different types of document and information management systems, meaning that your team can build, store, and search a database of workflow standards, meaning that your team can build, store, and search a database of workflow standards and processes. Often, these come in the form of process management. 

However, more advanced software can include features like customizable project request forms and process workflow automation, which are triggered when a particular action is performed.

This makes sure the appropriate next step is taken, whether that means pinging a particular team member, updating dependant task deadlines, or requesting more information about a task. 

Conclusion 

The benefits are plenty, but the most important thing right here is realizing you’ve invested in yourself and in your team. Investing in this software will bring the best out of your team, no more email delays and clunky spreadsheets, just you, your team, and productivity, all in one place.

The post COR Works Wonders for Every Role in your Agency appeared first on COR.

 Metrics are being overlooked in an industry that needs them. Most companies aren’t defining their most important metrics and even if they are, they’re not monitoring them in real-time. However, the data clearly shows that for companies that measure and monitor their performance, these goals can improve performance and make you grow more quickly. Sharing key metrics in real-time with all employees ensures everyone is focused on working towards the same goals.

The reason why keeping metrics on track is so important for your business is because the world is moving way faster than 10 years ago, which requires us to have faster and more assertive decisions. Without fresh and clear information, the chances to make the right decision are not high.

In this new report, COR Report: The State of Marketing & Advertising Industry, you will find insightful information to take business decisions through a data-driven approach.

Antoine Colaço, the founder of Google’s office in Latin America once told in an interview: “One of the reasons that made Google a successful company was because we were very metrics based”.

While tracking metrics is crucial, it is not enough on its own. Business leaders must also make that information available to the entire team to motivate them toward achieving goals. Only a handful of 6% of companies never shares their KPIs with their employees, according to the Gecko board survey, despite voting that the most important factor contributing to business growth is every team member having clear objectives, and the number two most important factor is every employee being aware of the key metrics which help the company grow.

Who participates

To start with, the first slide shows us four big questions about marketing agencies as a whole.

• Do you work for a global or a local agency? 

The answer to this question was biased: 29.29% said they worked in a global agency  while 70.71% of employees of these agencies surveyed, stated they worked in a local agency 

Global marketing campaigns are useful for raising the profile of your business and its services, and for driving sales to larger companies, while localized marketing is far more focused, with a smaller target answer. Localized marketing is a very involved process. To ensure their message is properly tailored to the cultural norms of the target market, marketers will need to use native speakers who are familiar with both language and convention. 

• What type of agency do you belong to?

The employee’s answers this time stated that 40.40% work in full-service advertising agencies, 16.9% in Digital Marketing Agencies, 11.5% in creative boutiques, 10.8% in digital advertising agencies, 6.62% in brand agencies, 4.53% in traditional advertising agencies, 3.14% Media buying agencies, a low 2.79% work in Web design agencies, 1.92% social media advertising agency and just 1.39% in public relations agencies.

• What is your role within your agency?

Of the surveyed employees, 26.5% occupied the CEO post, 20.83% the Director role, 15.83% other management roles, 8.61% project managers, behind them collaborators with 7.75%,  then principals 5,34%, VPs with 4.48%. To complete the C-suite, CCOs have a 2.93%, COO 4.99%, CFAs 2.24%, and CTOs 0.52%.

• What is the size of your agency? 

Small agencies with up to 15 employees at 41.75%, small agencies with employees from 16 up to 49 people at 25.08%, mid-size agencies with up to two hundred employees at 22.05%, and mid-size agencies with up to 500 employees at 6.06%. Now we have large-size agencies with up to a thousand employees at 2.19%, followed by global agencies with up to five thousand employees at 1.18 %, and finally, agencies with more than five thousand employees that condense 1.68 of the surveyed. 

Large marketing agencies have become exactly what they are today by successfully servicing many clients over many years; they have more resources at their disposal and a greater range of their services. 

Meanwhile, working with a small agency isn’t just about the money. Today’s big-name agencies are partnering with boutique agencies in hopes of offering their clients fresh campaign ideas. As the ease of obtaining results through online marketing continues to enhance competition, large agencies can no longer afford to rest on their laurels. 

Smaller agencies are more agile and can adjust on the fly to tweak campaigns. These kinds of agencies offer niche expertise in the service they offer, and innovative thinking, as their employees seek to give their best and are hungry for good results. Small agencies are usually more proficient in leveraging new technology in support of innovative ideas. 

Industry Overview

In this chapter or instance of the brief, we’ll be talking about the main challenges every agency has to deal with to stay competitive and a way to solve these problems; identifying them is key to tackling them in a precise way.  

Having metrics for all of the issues described will tell us in a quantifiable way, how to anticipate the problem and have an early solution, not letting them grow bigger.

These metrics are critically important because they will help the brand determine whether campaigns will be successful or not, providing insights to adjust any issue that may come along the way. By having precise metrics, employees and project managers can know how they are reaching the goals they had previously set with the client and what is preventing them from achieving them. The next step would be writing down precise reports about the decisions that have been made and ways to optimize the performance to have better campaigns in the future. 

Project and Resource Management

Which challenges are agencies and companies facing regarding project and resource efficiency?

Now more than ever, agencies need to be at the top of their game to be profitable and scale their success. The shifting realities of the professional services industry don’t make that an easy task. When given the best tools, working your way past the challenges is more than possible.

In this instance of the brief, we’ll be talking primarily about the biggest pain points of resource allocation and forecast, first. Then the discussion will turn around knowing your team’s capacity in real-time while they are with their hands full on a project. 

Having pertinent metrics of project management is an effective way to evaluate the progress of the project. Measuring your project progress against specific factors helps clarify the management process. They can also help guide the objectives of a project, giving teams the ability to track performance and make improvements as needed. 

By following and analyzing the right indicators, you’ll gain key insights into your team’s performance – from both a high-level and individual perspective. You’ll be able to pinpoint the bottlenecks and other inefficiencies that you can then correct, adding to your project’s assumptions list and improving future project performance. 

Additionally, tracking and collecting this type of information can come in handy when it’s time for your project management performance review. Think about it: the more raw data you have, the better you can demonstrate that you’re a true leader who is dedicated to the success of the organization as a whole. 

How Time Management impacts agencies’ profitability

Time management helps you see how your team uses its time, analyzes productivity, and makes informed process improvement decisions. Besides, it automates multiple routine activities, allowing you to focus on high-value marketing tasks and stay tuned in to what’s important. 

In this instance of the brief, we’ll be talking about how we perceive our projects in terms of profit, how we are estimating the fee of those projects, and how often that budget previously agreed upon changes. We’ll also examine the reasons why those budgets change,  how to estimate project profitability and how time management can help us with all of these. 

Time management metrics will help you manage time efficiently by attacking those things in your project where there are flaws. Say goodbye to deadline pressure, these numbers will result in effective strategies for better management of your time. You’ll find yourself being more productive and procrastinating less. Remember to measure your results, not your time, set priorities and focus on your goals, target to be early, stop multitasking and stop distracting yourself. Ultimately and for the best, track your time spent. 

In terms of profitability, you will see that time management improves productivity and profitability by having a solid strategy everyone is on board with. These strategies provide positive motivation for workers to stay oriented and give the team the tools they need for a job well done. 

As for the importance of profitability metrics, they give your company a window into how the net profit is broken down. Various factors contribute to the net profit figure and understanding these factors will give you a better idea of how certain aspects of the agency are performing. This helps to give potential investors an overall picture of how well the business is performing compared to its competitors and gives a strong understanding of the company’s underlying finances. The more you understand these metrics, the more you can channel energy to make your agency more attractive to potential investors and make every project you’re in, more profitable.

Client Relationship: Adapting to change for them

In this instance of the brief, we’ll be talking about your relationship with your client, describing the features of your ideal one, and why it matters to stay communicative and share progress, tasks, and resources. We’ll be analyzing how transparency can lead to winning your client’s heart.

A healthy client-agency relationship is a partnership between a business and a marketing agency. By the very definition of the word partnership, a client-agency relationship should be built on a foundation of mutual respect, trust, and understanding. For client-agency relationships to succeed, all parties must be aligned. 

Transparency will allow for alignment. Transparency will dictate expectations for copes, KPIs, and billing. Transparency will also establish guidelines for communication, monthly reporting, and dependencies. 

Having precise metrics of your relationship with your client points out how strong it is, the quality of their experience with your agency’s service, and their overall satisfaction with the brand. These metrics will result in showing customer experience quality and customer loyalty. By having precise numbers, you can adapt how you work to ensure good client satisfaction. 

How agencies are using technology for their operational management

In this instance of the brief, we’ll be talking about what the tech stack of your agency looks like, how many tech tools your agency uses for its operations, what is data silo, and if it’s an issue in your enterprise and why. 

The importance of technology in agencies cannot be understated. Agencies worldwide are relying on emerging technologies to help improve their competitive advantage and drive strategy and growth. Today, we cannot even consider doing business without the internet, video conferencing, project management, and more. The role of technology nowadays will only continue to expand. This fact necessitates incorporating technology into your processes if you aren’t already doing it. So, it’s time to get familiar with the technology which means getting in contact with project management tools and others, to reach the best service your agency can bring, it doesn’t matter how many you use to achieve this, in the end, the final product is what matters 

Technology metrics will help you visualize how you are implementing technologies in your day to day of work, and how are you using them to reach your goals. They help CIOs or Chief executives of IT understand the value of technology and demonstrate the value of IT to the rest of the agency or business. The important thing to remember is that every team’s tracking and reporting needs are different, that’s why it’s important to share different metrics with different stakeholders. Use visuals to make reports easy to understand, and try to keep a scorecard that is a high-level way to both evaluate and communicate your team’s performance. Always keep in mind that your metrics are aligned with the unique goals of your organization. 

Conclusion

What’s important to understand is how metrics can influence our decision-making. These numbers allow us to make strategic and informed decisions before things are even an issue. With what the report provides us, we must be proactive and not reactive to the problems that emerge. In a way, the problems that arise are not new, that’s how metrics, in a way, keep score of them and tell us in what area we must do an extra effort, to become a better agency. 

Metrics will help us figure out if our campaigns will be successful or not, providing insights to adjust to anything that may pop up. They’re effective in monitoring the progress in the project management area, they’ll help in relocating resources and forecast by showing us the pinpoints of those issues and the team’s capacity in the project at hand. 

Regarding time management, metrics are critical. Reaching deadlines, being more productive, and avoiding distractions. They help us visualize if our time in the project at hand, will give away profit, and help us estimate better fees. Time management shows us the reasons for budget changes and why they happen. 

As for client relationship metrics, they will show how strong your bond with your client is and the quality of your service. By analyzing these numbers, you’ll see if you need to adapt any strategy or approach. 

Technology metrics will show how your team uses technology, from how many apps or tools they use to reach previously set goals, and if they are being useful or not. 

The post Sneak Peak: Diving Deep into the State of the Marketing & Advertising Report appeared first on COR.

All sorts of causes can be the ones to blame: Distractions in an employee’s personal life, fatigue due to taking on additional employment, having a baby or even broader and more delicate mental or physical health issues could play a role.

But so the workload you’ve assigned for yourself.

Work overload is a common issue in countless workplaces. It’s not necessarily just about working long hours. Work overload can also mean having too many items in your task list, that you simply never finish.

Let me dive you into this picture… It’s Thursday night and everyone has called it a day and the office is empty, with no one around to be seen but you. You’re exhausted because you arrived at 8 am, but you keep telling yourself  “30 minutes more”. Next thing you know, it’s been two hours since you said that and you’ve put in more than 9 hours of work. Ringing any bell? 

If this sounds familiar to you, then chances are that you’ve experienced work overload; And, chances are you still experiencing it today. Even if you haven’t experienced it yet there is a high probability you will. So, let’s learn how to avoid it so that it doesn’t kill your productivity and cause you burnout. 

What is Work Overload?

Employee overload is when employees at an organization have more work assigned than can be accomplished during their workday. It can happen to isolated individuals, specific teams or departments, or entire organizations, and it can be fleeting, temporary, or endemic at any of those levels.

When employers overload full-time or even part-time workers, businesses tend to suffer in the long run. An early burst in productivity soon gives a way to stress, declining performance, burnout, and even physical and mental health concerns. Before long, staffing and retention can begin to suffer.

What are the symptoms of work Overload? 

Work overload can cause employees to resent their workplace. Rather than going to work and enjoying their day, they are going to work stressed and stay long hours to complete their work. This unhealthy lifestyle can cause burn-out and negatively affect their well-being and quality of work. 

Here are some of the common symptoms of work overload:

• Exhaustion 
• Feeling overwhelmed
• Easily agitated
• Bringing work home 
• First one in the office, last one out
• Stress
• Poor quality of work 

How to handle Work overload 

There are a few things you can do to handle work overload:

• Communicate to your manager/co-workers that you are struggling 
• Take time off to work on your mental health
• Practice time management and prioritization 
• Don’t work overtime or bring your work home ( what doesn’t get done, doesn’t get done.)
• Don’t check your emails/messages after hours
• Meditate to limit your stress.

Red Flags of Work Overload

• People Missing their Deadlines 

If you’re in a situation where deadlines are often missed, you may have a team that is overloaded with work. Usually, this indicates that you don’t have the capacity in the team to do the work, so you can’t meet every deadline. 

Deadlines can be the key motivator for team members, but the opposite is true too. If you’re not hitting them, they can be extremely demotivated. After a while, your team may develop a sense of helplessness where they feel there is no point in trying because they feel they will never succeed.

Consider talking to your manager about moving deadlines to compensate for your work overload or reaching out to a co-worker for help. Remember, communication is key. 

• A Team Overloaded with Work Will Make Mistakes

In work Overload situations, mistakes are often made. People miss things because they tend to take shortcuts, which is the common response when juggling different things. Nobody is focusing too hard on each task because they are busy worrying about the next one. 

After a while, This can have your team more focused on ticking the task off the list, rather than making sure it’s done well. If you lead a team that constantly makes mistakes, it will eventually make you look bad, too. 

• Team Members tend to become “frazzled” or stop caring 

Sometimes the most dangerous part of work overload is when people start to become overwhelmed and “frazzled”. This is usually because there are many competing priorities and people aren´t quite sure what to focus on. It also occurs when people feel upset because they feel they are letting others down. 

Team members may also give up and stop caring. They feel like they can´t succeed, so why should they even bother trying? Take note of people complaining, looking stressed, frustrated, or overwhelmed. These are all telltale signs of work overload.

• Decreased levels in productivity and task completion 

Overloaded employees will quickly become overwhelmed juggling too many tasks, diminishing productivity and task completion. Productivity drops because of the time lost switching between tasks or constantly checking what’s the most actively on fire at the moment.

Task completion also suffers: employees switch to the on-fire task before finishing their current one, and who knows when ( or if) they’ll find time ( or remember ) to switch back to the unfinished task. 

If an employee who previously turned in good work on time gradually starts slowing down and failing to complete tasks, overload can be the culprit. 

• Decreased Work Quality 

With a growing backlog of tasks to complete, an overloaded employee may feel significant time pressure. When people constantly feel under the gun, they tend to cut corners, skip final checks, and move just a little faster than they should. 

The result is a lower quality of work, which can also be a red flag of work overload.

• Increased Tardiness

 One less obvious red flag that a team member is overloaded or in the early stages of burnout is showing up late. Spending day after day feeling overwhelmed doesn’t do anyone´s mental health any favors, and tardiness and inability to focus are classic symptoms of depression, a disability that affects countless people all around the globe.

Also, when your people are consistently working late ( or coming back to their computers in the evening ), they’re physically more tired the next day. Compound this over weeks or months, and it’s easy to see how late arrivals can connect to overload. 

And what about employees who just don´t show up at all? Especially given the incredibly tight labor market, it’s easier than ever for creative professionals to move on. Load your people up too heavily, and they might ditch you for greener pastures. 

• Decreased energy and motivation toward work 

If you notice once happy and motivated employees starting to look lethargic and disengaged, you’ll certainly want to investigate. Numerous causes could contribute, including workplace culture, mental health, and overload or overwork.

• Increased distractedness

The more overworked an employee feels the worse things get in terms of energy levels. Before long, focusing on anything becomes difficult, which can manifest as a constant stream of distractions, inattention during meetings, and so on. 

• A decline in physical and/or mental health

Nearly everything described could be a symptom of a mental health issue, there are no coincidences. CAMH, a global leader in mental health research, makes the connection between overwhelming and prolonged elevated stress levels and increased risk of mental health and medical problems.

To put it bluntly, overwork and overload can make your employers sick and less mentally fit. 

How to Avoid Work Overload in your Team 

The signs as stated before, are easy to spot. But what can we do about them? It’s easy to do nothing and wait for the weekend, but guess what? It will still be a problem on Monday.

Instead, let’s look at some ways to handle work overload. 

• Find the source of the problem 

One of the biggest challenges of work overload is that it’s hard to measure. 

Just how much work can your employee handle? It’s hard to tell because everyone has different limits and capabilities.

Many leaders struggle to call out work overload because they feel they’ll be criticized for being “soft” or jumping shadows. That’s why you need to understand the problem properly. 

In the areas of most concern, start to map out all the work that people are involved in along with the timelines. You’ll soon see if you have a problem because some people will have many priorities next to their name which is due within a short period.

Only once you have understood and articulated the problem properly will you be able to help anyone. 

• Start Saying NO

One of the critical leadership skills that many people overlook is how to push back and say “No”. The real problem is that many people think that saying “No” isn’t an option. Remember that pushing back is almost always an option, and you should remind your team of this too.

You don’t want to surround yourself with people who always say yes. They will overpromise and underdeliver, and eventually, they’ll burn out. You want people who push back when you’re being unreasonable, and you need to do this with your boss.

Your manager won’t be able to help you if they don’t know how you’re feeling and coping. It might be time for a conversation about how much work is on the plate. 

Being assertive is one of the most important communication skills in the workplace. It means finding the right balance between passivity and aggression. It means having a strong sense of yourself and your value, and acknowledging that you deserve to get what you want.

There’s nothing wrong with saying “no” when new tasks pile up on your to-do list. You only have to communicate with empathy and patience. 

• Give your team permission to stop doing things

When you’re in a work overload situation, you need to protect the well-being of the people around you. One way to do this is to permit them to stop some work if they’re too busy.

This is all about setting priorities. Remember that if everything is important, then nothing is important!

Identify some of the less important tasks that your team performs. Give your team permission to let them slip or cancel them for a month. That gives your team room to breathe and they won’t feel so bad, because you said it was OK. 

• Create a Culture of Open Communication

The last way to avoid work overload in your team is to understand what everyone is working on to keep communication lines open. Make yourself available when people need to talk. Try to give your team every opportunity to raise issues, if needed.

Be sure to track work using some sort of system, even if it’s just a simple spreadsheet or even a notepad and paper. You need to have visibility of the work, so you can start to see the problems before they spiral out of control.

Even when is busy, you need to take time to keep in touch with your team. It may just help you to avoid an unfortunate burnout situation. 

• Get rid of unnecessary meetings

Despite what most people believe, you don’t need a meeting for everything. If there’s no meeting agenda, the meeting is bound to be long, off-topic, and inefficient. Thus, when there is no meeting agenda, there is no need for a meeting.

Also, what happened to emails and phone calls? In this new remote world, it’s an almost unwritten rule to use Zoom or Google Sheets each time you communicate with somebody. But this should not be the case because the overuse of video conferencing applications can waste time and cause Zoom fatigue. Therefore, when applicable, consider shooting your co-worker an email or giving them a phone call rather than resorting to Zoom. 

• Perform a Time Edit 

Performing a time audit will show you where most of your time is going. This is useful because it will help you delegate your time and prioritize more important things to ensure that all your work is completed. 

Furthermore, time blocking is a method that allows you to focus all of your allotted time on one specific task; for example, delegating X amount of hours to your top priority. This helps you stay organized and on top of your tasks rather than an open-ended to-do list where people are often left wondering which task to start on 

• Ask for Help 

Some people fear asking for help because it makes them vulnerable. Or, some others feel that asking for help makes them feel clueless. But there is no shame in asking for help, rather it is something to admire. 

If you have too much work on your plate, one of the best things to do is ask for help. Ask your co-worker if they have extra time to take on a few of your tasks. If they are too busy too, suggest working together to combat both of your tasks – this way, you are both benefiting!

Asking your manager for help is also a great way to avoid work overload. If you feel like your manager has assigned you too much work and deadlines just don’t look reasonable, politely explain to them that you’re feeling overwhelmed. You can also ask them if they could assign some tasks to another colleague, help you with your tasks, or change some deadlines to give you some breathing room. 

• Pick your objectives ruthlessly

Ruthless prioritization is the elimination of what doesn’t drive you towards your objectives. There is always too much to do, not enough time & time cannot be created. So, your limited time must be intentionally invested. Being clear on your goals clarifies where to invest time.

• Delegate when needed

Sometimes it can feel like you are responsible for everything, especially when you are a manager. So, it’s important to remember to delegate tasks to team members to ensure that you aren’t the only one talking about the responsibilities. This can be done by assigning action items for team members to carry out and communicating when help is needed.

Helpful steps to take when feeling overloaded

So far, we’ve been talking mostly to managers and leaders about how to help their people. But what if you are feeling overloaded? Don’t wait for your manager to take action – try taking these steps to address what you can do for yourself.

• Set boundaries to prioritize work-life balance 

Every job is different, but nearly every job can and should have boundaries. If email is following you home or creeping into the personal lives of you and your coworkers, ask yourself why. What would be the consequences of waiting until morning to respond? Do you need your work email on your phone?

Remember, you signed up for a full-time position, not a prison sentence. Work-life balance is important for your mental health and relationships, but sometimes protecting that balance takes work.

Once you establish these boundaries, stick to them and find a way to tactfully inform your manager, if necessary.

• Avoid distractions and multitasking 

It’s counterintuitive, but multitasking doesn’t work, period, full stop. So if you’re tempted to switch from task to task, resist that temptation.

Whatever you can to stay focused is one thing at a time that will help you reduce the panic and anxiety sides of overload. Set blocks of time to work on tasks, and minimize distractions during the time.

Gantt Module 

At the time of organizing the tasks to be executed by the team, the visualization of the workload becomes difficult, and more pending tasks have to be assigned. People tend to improve their productivity when their tasks are organized in such a way that they do not feel the pressure of having a large to-do list, but rather identify and focus on their work on the tasks to be solved with the highest priority, next due date. To visualize and allow better management of the workload over time, the Gantt chart displays the entire workload over time, allowing you to quickly understand how long each task will take, who will be executing it, and how many pending tasks that person will be executing. This graph provides a more general view of the project and therefore provides predictability to the work of the entire team. 

How does it work on COR?

In COR you can find two types of Gantt, one for the project and another one for the entire team. The latter has the possibility of granting a complete view of all the work carried out in the company. This Gantt is accessed through the left menu of the platform. By default, you will be able to see the users you have access to and their assigned tasks. each colored line represents a task and its length is determined by its start and end date. Each column represents a particular day and the view can be extended to weekly fortnightly or monthly. 

In addition, you can get a particular view of a group of users’ tasks according to their status, their delivery date, and so on. But these are not the most important functionalities of the team Gantt, but rather its possibility of interaction through these tools:

• Interactive tasks 

Each task can be moved to be rearranged on a more convenient date for its execution. Moreover, by positioning the course at the beginning or end of it, you can modify its duration in days, changing the start and the delivery date. As an additional resource, COR allows you to transfer a task from one user to another facilitating the reassignment of pending tasks.

• User Capacity 

Each user reflects in his profile image the work capacity for the next 15 days. To add things up, by clicking on each user, the Gantt view will change to display the person’s daily capacity, thus allowing us to understand how much of their work time is assigned tasks and if it is necessary to remove work or if they have time available to collaborate with another teammate or take another task. 

Best Possible ways to use it 

It is highly suggested to use the filter “View fortnightly” to have predictability about the work to be done in the following 15 days. It is also recommended to practice and hold meetings with the team on…let’s say Mondays, where tasks will be distributed and assigned, being that a perfect opportunity to estimate times. 

Use the team filter to optimize the Gantt and distribute tasks to specific areas. Clicking on the user, the daily graph will be displayed, being able to notice in advance if this person is available or not, and more importantly if there are any resources available to carry out that task.

See the tasks assigned and their current status makes it easy to track and supervise the teamwork and how the resources are being managed which makes the Gantt module  a helpful tool to analyze the progress of the pending tasks 

Parting advice 

Work overload can happen even to the best of us. Oftentimes, your manager doesn’t realize they have assigned you too much work, so the best thing to do is communicate how are you feeling. If they are a good manager and foster a psychologically safe environment, they will prioritize your well-being above everything else, over your work and they would want you to speak up your voice if you are struggling. At the end of the day, work overload can cause serious repercussions so following the above to limit or avoid it, is crucial. 

To carry this out in a healthy way, the Gantt Module is the way to go. It’s a great tool to organize your workload and your workflows, optimize teamwork and see how resources are being used to carry out tasks. Don’t miss it, you’ll realize you’ve become more efficient in no time. 

The post Work Overload – How to Keep your Team Fresh and Out of Burnout appeared first on COR.

Is every individual customer you have profitable to you? Chances are, the answer is a resounding “no.” That may not seem like a big deal in the long run — why does the value of any one particular customer affect your bottom line? — but your service costs for unprofitable consumers can really add up and affect your entire organization. Business owners and leaders need to be aware of the difference between good customers — those who are contributing to their business in a positive way and helping you build your brand — and customers who are adversely affecting their company.

While customer retention is a reasonable goal, it’s not always beneficial to you — if you’re focusing on the wrong customers and neglecting the right ones.

How do you know if a customer is profitable?

How do you assess the value of a customer? This is a critical part of building your business.

It is important to note that value is not limited to how these consumers are contributing to your cash flow. You should also consider factors like customer loyalty — how long they have stuck with your business. Additionally, think about whether and how they drive offer customer groups to your organization. Referrals also contribute to the strength of your brand. Remember, too, that individuals or groups like thought leaders and influencers may not be creating monetary or tangible profits, but they could be encouraging others to invest in your company and promoting awareness in their followers.

Moreover, think about how much a particular customer costs you. Are you spending less on them than you’re putting forth to retain them? Or is the reverse true? Factor in marketing efforts, customer service, and other aspects of customer service to calculate and evaluate this metric.

You should routinely conduct a customer profitability analysis for your clients. This will allow you to see how much profit each individual consumer is adding to — or detracting from — your revenue. It will also enable you to strategize about whether you should put the effort to retain or even divest customers. The good news is that there are plenty of tools available to help you with this process, including software dedicated to conducting and providing data about this kind of analysis.

What makes a customer unprofitable?

In a nutshell, a customer is unprofitable if they are using more of the resources than they are contributing to your business. In other words, they are demanding your energy — including time and money — without paying off in terms of tangible or intangible profits or rewards.

But it’s a little more nuanced than that. Remember that you can reap intangible rewards from your consumers and clients, so it’s not as simple as assessing the monetary profit or lack thereof from each customer. However, it is fair to say that if you’re spending more on a customer than you’re receiving in return, or even if it’s a draw, then that customer is unprofitable.

There are many factors at play when it comes to determining and calculating the overall profitability of each and every one of your consumers, and we will go into greater detail about this below.

Why is customer profitability important?

You probably know intuitively why customer profitability is so important — if a customer is not contributing to your business in a meaningful way, they are hurting rather than helping. But more than that, assessing this metric will allow you to assess your overall business strategy and see whether there are products or services you should reevaluate and reconsider. In other words, it’s not just about what your customers are doing — it’s also about what you’re doing.

Moreover, taking a close look at customer profitability will enable you to better understand your consumers themselves and how they are using your products and consider and reconsider your customer acquisition efforts.

Ultimately, profitability is a chief objective, unless, of course, you’re operating a nonprofit organization. So, this isn’t something to put at the back of your mind; it must always be front and center.

Do you know who your least profitable customers are?

Often, it can be difficult to know offhand who your least profitable customers are. Conducting a routine and regular profitability analysis will help you figure this out. Keeping careful logs of all customer interactions, from a lengthy phone call to a routine newsletter, including any marketing materials and other resources you devote to each customer group, will also allow you to see the big picture and assess data you may not have considered otherwise.

Why SaaS customer costs are more difficult to assess

Tangible, physical products and services are fairly easy to assess. You know how much money you’re putting forth and how much you’re receiving in return. But when you’re dealing with digital goods, it’s an entirely different story. SaaS, in particular, is something customers will continue to use long after you have completed the sale. And as long as it is in their possession — typically until they stop renewing their contract — you are continuing to provide them with additional intangible services, such as customer support and maintenance.

This is why it’s so difficult to calculate customer costs associated with SaaS products. Transactions are not discrete events. And so much depends on behaviors that are not straightforward to quantify.

Your unprofitable customers are killing you

But quantify them you must because your unprofitable customers are, to put it bluntly, hurting your business. This extends beyond your bottom line, affecting your relationships with other customers, suppliers, vendors, and more. You need to prevent the issue from escalating and damaging your organization further.

What can you do with nonprofitable customers?

There are two main approaches to dealing with customers who are simply not profitable for you: cutting ties with them and turning them into profitable customers. The latter is preferable, for obvious reasons, but it is not always possible or worth the investment and effort.

The right way to manage unprofitable customers

1. Determine the actual value of customers.

First, you need to know who your unprofitable customers actually are. Start with your profitability analysis, before adding in factors like how much time you’re devoting to each customer and how much you’re getting back in return. Separate your customers into categories, so you know where to focus your efforts.

2. Selectively raise prices.

Do NOT implement price increases across the board. This will effectively punish your profitable customers, and you don’t want to make them pay for your unprofitable ones. Instead, raise the prices for specific services and goods for the customers who are costing you the most, after analyzing where they are having the greatest impact on your bottom line.

3. Evaluate alternatives.

Evaluate external factors that could also be contributing to your customers’ unprofitability. Then, consider how alternatives could play a role. For example, perhaps there are goods of equal value that will be easier to obtain from closer facilities, thereby costing you as a business less money and reducing the negative impact the consumers are having on you.

4. Educate consumers.

It is highly possible some of your consumers don’t know they’re unprofitable. If you take the time to educate them on the ways they can maximize their own value and perhaps rely on alternatives — or eat up less of your time — they may be willing to change their buying behaviors so they can stay on as a customer.

5. Tailor your efforts.

Go back to your individual customer interactions. Is it possible you’re over-servicing certain segments? Should you be taking different approaches on certain bases? Customize your efforts accordingly.

When to drop an unprofitable customer

It is neither ideal nor easy to drop an unprofitable customer. But sometimes, there’s no avoiding it. So, when should you do it? These are situations in which it is most likely the best strategy to end the relationship:

• The customer is providing absolutely no value to you, monetarily, brand reputation-wise, or otherwise.
• You’re seeing a clear, long-term downward trend in the customer’s profitability.
• Your business is changing direction, and the customer has no clear value in the new model.
• Your business with your high value and best customers are suffering because of your wasted efforts on your unprofitable customers.
• Your team is suffering because of certain customers.
• You’re actually losing money on the consumers.

When is customer divestment risky?

The fact is, customer divestment is always a risk. And you must take that risk into account before you make the decision to stop serving a particular consumer or client.

Factors you should consider before taking the plunge include:

• The referrals the customer has made or has the potential to make
• The influence they have on other customers or potential customers
• The value they have offered you in the past
• The possibility of exclusivity arrangements
• The effort and resources you will have to put into acquiring new customers and retaining existing (profitable) ones
• Which competitors they could turn to instead and how this might affect your own bottom line
• The potential for bad publicity
• The customer experience they have received so far
• The longer-term implications of divesting
• The lifetime value of each consumer
• How employees could be affected
• Any legal implications

Managing the divestment process

Once you’ve committed to customer divestment, you will need to begin this delicate process. First, make certain this is the best strategy, taking into account alternative solutions and the possible consequences and impact.

Start by explaining the rationale behind the decision, depending, of course, on the nature of your business and industry. In some cases, the customer may feel that the relationship is no longer benefiting them, either, so this will come as no surprise. In other cases, you may need to drop large customer segments, so it won’t make sense to have private conversations with each one — still, you should make it known that this is happening and why.

If you can, provide assistance to the consumer. You don’t want to burn any bridges, although this may be unavoidable in some cases. Wherever possible, make the transition easier for the consumer, such as by recommending alternatives.

You should have a strategy in place for dealing with unhappy customers. You know that there is a strong likelihood that some consumers will not be pleased with your decision, so you need to have a plan before beginning the divestment process. Being able to recommend alternatives is one way to help ease the blow.

Leave emotions out of it. This is a data-based business decision, not a personal one. Still, recognize that you’re dealing with human beings who will naturally have questions and concerns about why they are not the “right customers.”

In many cases, customer divestment comes as part of the changing nature of the company itself and has little to do with the consumers. Perhaps, for example, a certain territory hasn’t proven profitable for them, and they have chosen to narrow their reach.

Still, the company must consider the consequences of eliminating this customer segment from their base and recognize that there may be consequences for both parties. If you’re no longer able to meet customer needs, who is to say a competitor won’t swoop in and strengthen their own brand in the process? Understand, too, that when you let go of customers, they will rarely care about the rationale behind the decision — they will only focus on the fact that they are no longer able to take advantage of the service.

Still, at the end of the day, this is about maintaining a strong customer base — one that delivers you as much value as you’re delivering them — if not more. So, while divestment is never ideal, sometimes, it is unavoidable. In the long run, you may find this will improve your brand and increase your profit margins, allowing you to strengthen customer relationships with the users who bring you the most value.

The post Do you Know How Much a Non-Profitable Customer Costs you? appeared first on COR.

There are a dozen qualities that a digital marketer must have to be successful. Among them, we can highlight integrity, leadership qualities, communication skills, transparency, and professionalism. But the top skill, of course, is organization. This is the foundation of your entire position no matter what role you play for your team. Whether you’re a content creator, PPC, SEO, or social media, it’s important to make sure you find ways to remain organized, otherwise, it will be easy to fall behind on your day-to-day tasks. 

Until now, you’ve been surely handling things all by yourself and that is great. Whatever your strengths and weaknesses are, you accommodate them as you fit and in your best interest.

But your time, experience, and resources aren’t infinite. If you want to see your baby grow, you must find ways to scale your marketing efforts. The goal here would be to give specific points and options to consider on how to successfully manage yourself within an agency and see yourself victorious. This will help you determine what form your team should take, how it should be comprised, and what tools and processes you may need to put that into practice. 

From there you’ll be better equipped to do additional research or even obtain professional consulting on the areas you need more information about.

Follow these organizational tips for digital marketers to make sure you’re ahead of what´s coming to you in the ever-changing digital sphere. 

Organizational Tips for Marketers out there 

• Use Project Management Software

With lots of movement in your creative agency, it will be to your benefit to use a project management app. Many of these programs are designed to help you to carry out your ongoing projects, manage tasks, and collaborate with your team. You can also group clients or conversations into different channels, send notifications or files as needed, and they even integrate video calling which is of paramount importance for distributed teams. 

Tracking meetings and events and coordinating schedules may even help you if you ever need to train your team for a specific task. It makes communication better for these kinds of things and pretty much everything.

• Keep your office space tidy 

Run away from the term “organized mess”, that’s just a no-go. Let’s try to avoid that when we are talking about your office and space. To keep your area clear, make a specific place for each item you keep on your desk.

Limit your clutter, only keep items you use every day in your workspace and avoid keeping more than two or three personal items there as well. Be sure to leave at least one open area on your desk for signing necessary documents or other tasks that may come up.

Additionally, keeping your desk organized can also help to calm your mind. Your desk being messy directly affects your productivity and motivation which means that when you’re stressed about the state of your desk, you can’t focus on the work in front of you. Take some time at the end of the day to clean off your desk and get prepared for the next day. 

• Organize Your File Manager

Your email is a workstation on its own. Just as you would keep your desk clean and organized, it’s also important to file your emails and electronic files as well. Create folders within your email and filter your inbox accordingly. Apply the one-touch method to answer emails or file them away for when you have more time available. Find a method that works for you and stick with it to stay up to date on your online communication. 

Find a numbering convention or sortation method that works for you and your agency to organize tasks by folder and date or due date. For social media, file things by client and subfolders dedicated to the month your schedule will be posted. 

• Create Agendas and Recaps 

Never come unprepared to a meeting again by taking copious notes before and after. Agendas keep you on track and make sure that you stay in touch on every topic that you’re looking to discuss. If you want your meeting to be productive, you should come in with a detailed, clearly defined plan of action that has been shared with your advance. Before client meetings, schedule about thirty minutes to an hour to go over your action item list with each member of the team to make sure that everyone is on the same page. 

In addition to that, make sure you take meeting notes during the meeting. You should be taking your own, but often times people designate someone specific to make notes. If you find yourself without anything, take some time after the meeting to note major points. When will you follow up or speak next? What are your goals moving forward? Which problems were solved or raised throughout the meeting? What tasks were assigned and who will be taking the lead in making sure they are completed? It’s crucial you listen and follow what is said in order to keep on growing as an employee.

• Find Software for your Financial Needs

As someone running a creative agency, you may not care about financial numbers, leaving those concerns to the CPA once tax season rolls around each year. But to save yourself a great deal of time and money, it is worth using financial software that can help you record and organize your budgets and expenses. 

Programs like these ones can be easy to learn and allow you to track vendors, customers, and all your accounting needs. Using these kinds of tools can also save you money by making it easier for your tax rep to have the information they need readily available. 

• Keep your Customer Data Online 

Creative agencies are often juggling multiple clients at once, so it’s crucial to keep their data separate and secure from others. Using effective customer relationship management software.

These programs will help you manage your customer contact information online, reach out to them via email, and promote new products and services. Find a CRM that works for you, instead of keeping a literal book of business lying somewhere around your office. 

• Track your time and schedule

Staying organized is so much more than what you can see; it is also what you do with your time. This should be monitored on a personal level and as a team to ensure everyone is using their time wisely. 

Timeline features can help you define your project scope, distribute responsibilities as needed, set deadlines, and more. The team calendar will keep all team members on the same page and prevent miscommunications. 

• Take Digital Notes 

Avoid using paper at all costs. As a creative agency, you’ll likely have occasional meetings to discuss client updates, set assignments, and brainstorm other ideas. This can lead to pages and pages of notes that can get lost or misplaced. 

Luckily your cell phone or whatever gadget you have access to has note-taking software built-in, so there’s no excuse!

• Plan out your social media 

Although most of your clients will never see your business office, everyone will have access to your social media profiles. And if they find a jumbled mess of inconsistent posting, disorganized links, and poorly planned content, odds are they will move on to the next creative agency. 

Your team should have an individual dedicated to maintaining the posts and engagement on these networks. Use scheduling tools to plan ahead and save time throughout the rest of the week.

•  Follow up on your Upkeep 

Getting organized can sometimes be a simple undertaking, but staying there is much more arduous. Taking time to reassess your workspace and functions every so often will be vital to preserving a high level of organization. 

Review your office space and online tools regularly to ensure everything is up and running at its peak of performance. Make changes as needed to improve workflow, stay on task, and keep your mind clear. 

• Know when to take a break 

Taking breaks makes you far more productive. It helps you manage stress and time. Most believe that taking breaks throughout your work shift will limit the amount of work you do. That isn’t true at all. That 30-minute break of launch is what does the magic and keep you sane and organized and taking a moment to daydream allows you to open your mind and get rid of any workday distractions. 

• Be realistic 

This would be the most important piece of advice of these organization tips for digital marketers: be realistic. It’s easy to get ahead of yourself when you’re really excited about a project. It’s also easy to overestimate results and set unrealistic deadlines. Use prior experience to set guidelines that make sense for your team and yourself. If you have lots of work to get done by the end of the week, pace yourself and schedule one a day. In the event that you get more than that done, then good for you, that’s great! If not, you’ve planned accordingly and made time for any other thing that may pop up. Because digital marketing is such a fast-paced industry it’s important to leave room in your daily schedule for the last-minute projects that may come up here and there.

In order to keep a level head and a strong work ethic, it’s important to remain organized. This will help you keep calm when last-minute changes and adjustments come down the pipeline. Digital marketing is a fast-paced industry always growing. By following these organizational tips for digital marketing, you’ll be ahead of the curve when things get stressful.

COR coming to your aid in your Task Management 

Within the Tasks module of COR, click on the “my tasks” tab. In this section, all the active tasks assigned to the user will be listed.

What are the benefits of this panel you may ask, well there is an automation of the tasks ordered by the proximity to the upcoming deadline, which makes it easier for you to organize your days by seeing what is lying ahead of you. You may find it separated into four sections:

• Today: Every task that has a deadline today or the ones that are already overdue.
• This week: Every task that has to be delivered in the next seven days. 

• Upcoming: Every deadline that exceeds a week of delivery, plus tasks without a deadline.

• Finished: Every task finished can be found here.

You can change the way the tasks are displayed, changing from “this week” to “upcoming” or “finished”. By the end of the day, they will return where you found them, except those that are sent to “ today” since it assumes it is a priority. The same happens when you send a task to “finished”, the app will interpret the task as already finished, so be careful not to mess up!

In addition, the project and task titles are unified for a better display. The client, project, brand, and product can be seen as labels above the task title. If it is a subtask, we can see the task to which it belongs by hovering it over the title. 

Hourly Upload

If you click on one of the tasks, it will automatically change the status to “In process” if it was not already and will send it first to the “ today” list regardless of its deadline. This action does not change the task completion date. 

If we continue with play in the task and move it to the “finished” section, the time worked will be computed and its status will change.

Creating and assigning tasks 

At the bottom of the tags “today”, “this week” and “upcoming” sections, you can find the option to create a new task. When you generate new tasks. When we generate tasks from there, you will automatically be assigned as PM or collaborator.

If the deadline of the task isn’t indicated, it will remain in that section where it was created until the following day, unless they are added to “today”, as said earlier, once it goes to that tag it won’t return to its place.

If we select “add task” from the upper button, the creation section will open from the “today “ tag.

If we click on “ Add task” from the upper button, it will create a new task on the “today” tag and every task will be assigned there regardless of the deadline that is selected. 

If new collaborators were to be assigned, those new tasks will also appear in “ My tasks of that user, in the corresponding section according to the deadline. When removing a collaborator from a task, they will disappear from your task list. This may also happen if the collaborator is unassigned from the get-go from a task.

When assigning a new task, the “recent” tag will appear for two days, not counting weekends. This means that if I generate the task on a Friday, the tag will remain until Tuesday. 

The Card View mode, in addition to presenting all the necessary information about each task, allows us to easily change the status by dragging them from one column to the other.

Conclusion 

Being organized is necessary to survive in the ever-changing digital era. It helps you to focus on your thing and carry out whatever you want to accomplish. You can tell the difference between organized people and those who are not just by seeing if they are getting what they want. Among some positive side effects of being organized, we can highlight integrity, leadership, communication skills, transparency, and professionalism. You see why it is important that if you don’t do well in this area, pay attention and focus on it because it will make you grow. You can rely on different software to achieve this and be tidy with your workstation. Within COR you can organize your upcoming and current tasks in a very clear and intuitive way, so don’t waste any more time and nurture yourself with it!

The post How to Organize your Tasks Make your Creative Agency Grow in the Attempt appeared first on COR.

When businesses are starting to grow, board managers must accompany that process by enhancing the performance rate. To begin with that transformation, large-scale efforts must be done throughout the whole company, challenging every decision-making fundamental of every layer of COR. This includes the basic processes in everything from production and sales, purchasing, HR, and marketing. The benefits will be directly seen in future earnings, they can increase as much as 25 percent or more.

Given the seriousness of that change, this would seem like an ideal opportunity for the CFO to step in and play a major role, after all, they are already familiarized with many activities and initiatives that underline some kind of transformation. The way it is handled usually takes the CEO as captain of the boat, then a full-time executive assumes operational control initiatives, and individual business units take the lead on their own performances.

We already know how strategic decisions from the CFO leadership benefit ad agencies. Metrics such as performance efforts will lack meaningful benchmarks to measure success, the board of directors will be tempted to focus on the most visible project instead of going for the one with the most value, and expected transformations won’t reach their goals. Financial planning from the CFO becomes crucial and they need to step up and plan a broader role, one that includes the modeling of desired mindsets and behaviors in transforming the finance function itself.

Ways of creating  value

Forecasting which projects will create the most income can be challenging as well as setting priorities. It’s not strange to see good ideas languish because they were undervalued by the chief executive officer and the rest of the c-suite while financial managers direct resources to overvalued initiatives instead.

Valuing such initiatives requires deep thinking. Although some transformations imply radical changes, most create significant improvements on the margin of existing operations. That requires an understanding of the costs and benefits of the business model that is being produced, that being a product or a service. When managers have an understanding of the marginal value of improving each of the activities that contribute to performance, future growth is assured and the potential to lead an entire transformation is at hand.

In COR, emphasizing accounting profits can lead CFO’s financial resources on actions that drive annual or quarterly earnings. A high-pressure transformation environment, where managers are held accountable for delivering stretch targets, can exacerbate this tendency. Finance forms and the financial position are important lines of defense. CFOs can verify that the improvement of corporate strategies and initiatives aren’t simply cutting investment in tomorrow’s performances to boost today’s numbers. These finance leaders also check for noncash improvements that show up on the profit and loss statement but don´t actually create value. Instead, they can highlight cash improvements, such as reducing working capital that add real value but don’t affect the profile and loss parameter. 

Make certain that benefits fall to the bottom line

Regularly, unexpected initiatives that could create great value, never get to COR’s bottom line. Sometimes, the problem is just poor execution. Some other times, the problem is the lack of visibility of the expectations and little coordination between their units and functions. As a result of this, savings accumulated in one part of the business are offset in the expenses by another.

Finance specialists can benefit from COR by reviewing how a company reports progress and ensuring that objectives are being met. This can include, for example, ensuring that transformation priorities are translated into formal budget commitments. It also includes translating traditional P&L accounts, such as cost of goods sold and overheads, into the underlying measures that affect their value, such as volume, foreign expense rates, headcount, and productivity. That offers managers a much clearer understanding of how value is created.

Creating meaningful insights with a good financial officer can be challenging. Since performance across such businesses isn’t readily apparent from their consolidated accounting statements, it’s all the more difficult to understand whether a transformation is effective. COR provides these reports to the CFO and his finance team and they help by disaggregating the business into multiple agencies. Using this financial information given by COR,  strategists can transfer pricing between those agencies.

Senior management continues to produce consolidated reports for external stakeholders and by using internal reports, understand how valuation is created, and benefit from this information provided by COR by enabling them to identify more opportunities and turn them to profit.

Leading by example 

Helping managers clarify the value of initiatives is just the start of the CFO’s and finance function’s contribution. Just as important is how finance works internally. A finance function that innovates and stretches towards the same level of aspirational goals as the rest of the organization adds its credibility and influence.

Leading by example is showing the rest about the desired behavior. By taking a pragmatic view of the level of detail and rigor needed to make good decisions in the finance function as well. Today’s CFOs can set an example of good behavior to the rest of the company. For example, the CFO role-modeled a bias for action by drastically simplifying the valuation assumptions for initiatives. That enabled the operation’s leaders to focus on execution. Even though the value of these initiatives was potentially overstated, it was clear that corporate finance was focused on the right improvement areas.

But leading is also taking into account risk management, reducing costs while increasing efficiency and effectiveness. COR initiatives automate timesheets, predict profitability, reduce work overload, and improve client engagements, consequently, it streamlines activities, and cut costs inside finance, all being key assets for every CFO.    CFOsimplify processes and eliminates layers of approval or redundant financial reports.

In the hypothetical case of COR, this experience is very frequent among this company and other marketing and agencies in general. After reviewing its accounting entries journal, the finance team realized that more than half of the processes were unnecessary and introduced new guidelines to reduce the workload. From the information provided by COR, the CFO and his finance team also found out that managers were using different kinds of reports to assess the performance of what was essentially a single business unit.  Not only did different layers of the C . suite have a different view on how to measure performance, but also, the agency was using entirely different reports to explain results and manage their activities. After leading a healthy debate on how to define a consistent view of assessing performance, COR provided this information so the CFO could set up a common and cohesive approach for the entire agency by cutting reporting activity.

Finally, stronger financial controls inside the function can help quickly reduce cost organization, particularly where cash flow is short. Finance might, for example, lower the threshold at which purchases require approval, cancel credit cards, or even close open purchase orders. Such moves can be seen as unpopular, and managers can spend weeks, even months, whether they’ll improve performance or hurt productivity and employee morale. But how successful they are often comes down to the ability and conviction of leaders to strike a balance between management and empowerment. The finance function is well placed to address organizational resistance, given its practical knowledge of financial systems and controls. It can also provide a credible independent perspective in setting an appropriate level of management.

COR can help the CFO and his finance team to successfully deliver on the full potential of transformation within the agency. To do so, they must be judicious about which activities truly add value and embrace their roles in leading the improvement in both performance and health.

The need for more strategic leadership 

Top executives acknowledge the value that finance chiefs bring to their agencies, and CFOs themselves agree. In the matter of finance, both groups agree that CFOs are very involved members of their teams. They also agree that CFOs should spend more time as strategic leaders in the years to come. 

Faced with advances in technology and growing responsibilities, many Chief Financial Officers are bracing themselves for more changes in their roles. Finance leaders report that there are new demands on their time schedules, such as digitizing critical business activities and managing cybersecurity, in addition to managing their traditional financial duties.  While these new challenges and new responsibilities might lead CFOs to differentiate from their competitors, some other agencies believe they are not prepared to manage those challenges.

Most CFOs acknowledge that it is no longer sufficient to play their traditional role. They must build skills in other areas of business, play a more active role in leadership, and rethink their usual approach to problematics, external pressures, and finding new investment opportunities.

As the CFO’s role evolves, so are the expectations of other agencies’ leaders. Not surprisingly then, CFOs perceive some of their contributions differently than do others in the C-suite. Most of the top executives agree that their CFOs are the most involved in bringing financial expertise to the table, focusing group discussions on the creation of value, and serving as the executive team’s public face to financial stakeholders. For activities beyond finance, there’s a gap between the leadership of the CFOs that are significantly involved or the most involved executives in allocating employees and financial resources. They rate the performance of their finance functions differently than their fellow executives. CFOs are more likely to cite a lack of resources and skill as barriers to effective finance function performance, others in the C – suite most often identify a lack of innovation mindsets.

The evolving role of a CFO and COR conveniences to them

In the world of digital transformation, it is increasingly important that the CFO understands the power of marketing as a growth driver, not as a cost center. And that means they need to be in sync with the CMO.

As marketing becomes more about lifetime customer value, CMOs need time and agility to succeed, and with CFOs at their side, this becomes possible. Together, this duo can make the case for the investments needed to allow for maximum growth and innovation.

It’s an old trope that marketers are fuzzy-headed creatives and the finance team is a bunch of bean counters, one is a cost center, and the other one a cost container. In today’s world, they understand the value of another’s roles, as well as the role of performance marketing in driving everything from brand growth to sales ROI. 

From strategy to execution, for both short-range and long-range planning, COR needs to give these benefits to a CFO, to provide him with insight from the marketing world point of view.

Together they can achieve exponential results, driving maximum impact on value and sales. A strategic alignment is fundamental, the real value is in the long game.

Digital marketing is measurable, accountable, and predictable: key fundamentals in the CFO’s role. Having these aligned unlocks funds and is the catalyst for digital transformation, empowering the CMO and other members of the C-suite to make bolder decisions.

A close partnership between the finance team and data analysts is the pillar of building a solid campaign strategy. This allows for quick decision-making on how investment should grow as programs scale. The team aligns on performance expectations and builds systematic test plans, which enables them to take advantage of the rapidly changing eCommerce landscape. This allows allocating of budget more efficiently on channels driving the most incremental value on ongoing business.

By incrementing testing, it enables COR to scale nonbrand SEM (search engine marketing), a digital marketing strategy used to increase the visibility of a website in search engine result pages, and social efforts, effectively are uncovering any additional growth tactics that this attribution model might miss. By suppressing ad spending in specific test geographies, COR can measure the uplift and define a true incremental value of that media. None of this can happen without an agile CMO/CFO relationship. All of this stuff happens behind the scenes but that ultimately contributes to successful campaigns.

The chief financial officer is increasingly evolving into a chief revenue officer, not simply forecasting revenues but helping decide how to grow them. In other words, both are accountable for converting the company´s actions into predictable and scalable revenue through the right media mix model.

The truth is indiscriminately capping the digital marketing budget need to be a thing of the past. Why would you ever set a cap on your revenue or growth?

The CFO has to understand marketing, the CMO has to understand finance and everyone has to understand data. Working as partners, they will not only be the most powerful duo at COR. Theirs will be the brand that thrives and bring success.

With everything said about the importance of a CFO to know about marketing, COR predicts profitability on developing projects, it helps reduce unnecessary workloads and accomplish deadlines on time, all necessary tools that today’s CFOs need to adjust to new requirements.

Three Digital Marketing strategies that can benefit a CFO

• Attribute sales

When you already know the value of a lead or sale, it’s important to know where every sale you drive comes from.

“Attribution” is digital advertising speak for “ what brought the customer here?” If a customer clicked on a Google pay-per-click ad that brought them to your site and then bought something, that sale would probably be attributed to your Google pay-per-click ads.

We highlight the word “probably” because it can get more complicated. What happens if a customer clicked a Facebook ad two days ago, browsed your site, and left without making a purchase, but then clicked on a Google ad today and made a $100 purchase? How much of that sale do you attribute to Google? How much to Facebook?

The answer will depend on what’s called your “attribution model”. There are hundreds to choose from, but it’s basically how much “ credit” you give to each piece of advertising that a customer encounters on their way towards a sale.

Tools like Google Analytics can let you choose from a list of standard attribution models. Once you reach a decent scale, it´s probably worth implementing more complex software that’s tied directly to your ad platforms and that does this on your behalf.

• Calculate your ROAS

The sales or leads that each platform generates.

That lets you put it all together and get a really clear picture of the value you’re delivering with your ROAS. ROAS stands for “return on advertising spend”. It might sound complex, but it’s not that complicated really. Plus, CFOs go nuts for acronyms.

The goal here is to tie the sales or leads driven by every type of advertising you do with the amount of money you spent on that type of advertising. The formula would be:

(Per-Platform Revenue) / (Per-Platform Cost) = (Per-Platform ROAS)

So to clarify this,  if you spent $50.000 on Facebook advertising, and drove $50.000 in profits, you have a ROAS of 100% for Facebook.

If you sent $50.000 to Google and drove $100.000 in profits, you have a ROAS of 200% for Google. Obviously, above 100% and you are making money; below 100% and you’re losing it.

It´s important to note whether you’re calculating your ROAS on profit or revenue. Calculating ROAS on revenue is much more common, but then you’ve got an additional step of adding in your profit margins later on. It’s better to calculate the ROAS on profit from the get-go; this enables you to have that data available and front-of-mind for every decision you make related to your digital ad spend.

Either way, understanding your per-platform ROAS lets you optimize for the most effective platform or combination of platforms.

 Once that is figured out, you can use essentially the same formula to calculate your overall digital advertising ROAS. And now you´re ready to impress your CFO.

• Make your CFO love you

With these numbers in hand, as COR you can pretty easily understand whether your advertising is working or not. If you have a ROAS of under 100% you’re losing money. Over, and you’re driving profit for your agency.

While ROAS is a common term in advertising, return of investment (ROI) might be even simpler for your CFO to understand. How many Argentine pesos or dollars in profit are you generating for every money spent on digital marketing? A ROAS of 100% is the same as a 1:1 profit spend ratio. A ROAS of 400% is the same as a 4:1 spend ratio.

By knowing this, COR can benefit a CFO by saying things like “For every $1 you give me in ad spend, I can create $4 in profit”. Any CFO will lend you an ear when they hear these words because they are generally his.

So what are you waiting for? Get ready to make your CFO your digital marketing budget’s best ally.

 Conclusion 

As COR automates time recording with Artificial Intelligence to predict project profitability, reduce work overload and meet deadlines, we can ensure this benefits any CFO in optimizing his job and having a better performance by being provided this information.

We´ve been saying how important is to understand that both the marketing and finance worlds must coexist to bring better numbers to any agency. As for what COR stands for, there is no way a CFO can lose.

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