Mark Probert’s Post

Yesterday I was called an AI Evangelist. I wasn't sure whether to take that as a compliment or not, or whether Danny Turnbull would disown me (probably the later). I think it's too early to say I'm an Evangelist, but I'm certainly inquisitive and can't fail to be working in the world of marketing agencies. Marketing is at the forefront of this next evolution, and I'm finding AI is now regularly being discussed at board level (and client dinners Andrew Dobbie 😉 ) Whatever your views, experience to date, complete naivety, learnings so far, anxiety, it's important we all consider the potential impacts, and share our learnings. So here at Cactus HQ we are hosting an #agencyowners AI transition support group meeting, online, on the 6th November at 1.15pm. https://lnkd.in/ezarTPvm These sessions will happen monthly and everyone who attends will have the opportunity to talk openly no matter what stage with AI adoption they are at. Even if you are absolutely nowhere near ready yet to embrace #AI within your agency, or you are a total skeptic, this session will be hugely valuable. Topics are not limited to the following but will include: - How some are already embracing #AI tech internally / with their clients - The advantages and disadvantages of your experiences so far - How AI may affect your productivity and profitability  - Your team/culture and how AI may affect this - The best AI tools for #agencies - How some founders have evolved their services - - Data protection / the legal impact of AI (employees/clients) - The future impact of AI to agencies and how you can embrace this to your advantage The first session will be hosted by my colleague Spencer Gallagher Here's an AI picture of what the session may look like with this #marketing industry heavyweight in action...

Well the new MadeBrave office at the The Social Hub in Glasgow is uber impressive. Take a look 👀… Not a bad place to host a board meeting this week. Beats working from home! Anyone know of an office which has more neon lighting?!?! More here: https://lnkd.in/eknAvyZU *thanks to Paul Crumbie (He/Him) for the wonderful organisation (as always) of the day #agencylife #cooloffice #creativity

Do you market your marketing agency? Many don't. Many don't do it properly. Are you doing enough of the right things to market your #agency? Perhaps you need to adopt our ORPIN™ model... Outbound Referrals Partnerships Inbound Networking and Events *credit to the AGENCYNOMICS book #agencylife #marketing

Top tip of the week… Say you won’t win that pitch Keep saying it Get your colleagues to keep telling you that you are wasting your time, but you know you are doing the right thing Ask your team to say they’ll eat their hat if you win Buy aforementioned team members a hat Watch them eat it 🎩 👒 * picture of Abbe Wheeler and Pete Hoole consuming a hat whilst squirming from being proved wrong #positivevibes #agencylife #marketing #hat #tenacity #belief

Seeing how your work has positively impacted others makes it all worthwhile doesn’t it? This 👇 is why we ❤️ supporting #agencies … 🙏 AGENCYNOMICS #agencylife #community #support

Does your agency have excess working capital? For many agency owners this typically is more than three months of operating costs. If so, here are some strategic ways to invest it to improve your EBITDA and overall agency value: 💰 Acquire a Smaller Agency Use your excess working capital to acquire a smaller agency. Purchasing a smaller business at say a 3x multiple of EBITDA and integrating it into your operations can amplify your own valuation and gain you a higher multiple on your now combined and increased EBITDA... thus much more value on any exit. 📚 Improve Internal Processes Invest in tools and technology that streamline operations. For example, organise and optimise your CRM system. Or invest in documenting your processes which will certainly help make your agency more attractive to potential buyers. 💡 Invest in Learning and Development for your team For example, provide financial literacy training for your team. This type of investment builds a culture of accountability and aligns everyone with the agency’s growth goals. It helps the team understand key financial concepts and their impact on the business, leading to more informed decision-making. 💹 Undertake an agency health check Invest in an external pair of eyes to undertake performance benchmarking and an audit of the agency. To include a review of your financial metrics. This helps focus the owners on the agency’s health, strengths and weaknesses and highlights areas for improvement. The expert should provide assets and experience specific to your agency, to help you improve significantly in the areas identified and thus create more value for you. 👯 Delegate Key Tasks As an agency owner if you are still handling too many roles internally, it's time to delegate. Considering hiring a finance manager, marketing person, or a project manager to ensure that your operations run smoothly and you can focus on strategic growth. By carefully considering the above strategies, you can effectively invest your agency's spare cash to drive growth and enhance your business's overall value. #agencylife #agencyowners #value #growth

One easy way for an agency to work out their day rates. *credit the AGENCYNOMICS book #agencylife #agencyowner #pricing

Fantastic night tonight at Everyman in Edinburgh, supporting my friends at Heehaw A night of learning about the events sector in Scotland. What is working, what’s not, sustainability challenges and how dynamic pricing impacts the creative industry. Awesome insights into what marketing strategies big brands like Boots UK and Edrington adopt, as well as the established #Edinburgh stalwarts of THE EDINBURGH INTERNATIONAL BOOK FESTIVAL LIMITED and The Royal Edinburgh Military Tattoo. Thanks to all the superb speakers. This inaugural event of Ticked Off really set the bar and I’d encourage anyone in the creative scene in #scotland to make sure they get an invite to the next one. Was a proud moment seeing the superb work of Toby Trueman and his Heehaw team on the stage. My rudimentary iPhone recording doesn’t do their work justice… sorry Toby. #creativity #sustainability #agencylife

Do you promote Financial Literacy within your team? When I have new business calls with agency owners I hardly ever hear any agencies actually educating their teams in this area. Yet surely by understanding the commercials of how an agency runs, why work is priced as it is, and what impact slow paying brands have on the agency, your team will be more understanding and more informed as to how their day to day decisions impact the future growth of the agency. Why not conduct regular reviews of your financial metrics and provide training sessions on financial literacy to your team. In my experience this will build a culture of accountability and empathy to the owners, and aligns everyone with the agency's growth goals. #agencylife #agencygrowth #digitalmarketing

Cash flow is the lifeblood of any agency. In fact any business. Understanding and managing your cash flow effectively can prevent financial bottlenecks. It's worth keeping in mind the potential need for banking facilities like overdrafts, selective invoice financing or loans, especially during periods of rapid growth or delayed client payments. Whether you decide to take on debt or an overdraft or not, you should always plan ahead and as a minimum maintain at least a 3 month forward looking cash flow forecast. If you need help, here's a useful template and course... https://lnkd.in/e9c5HVXb #agency #agencyowners #marketingagency