“Show Me the Money”

“Show Me the Money” Workshop (for Marketing Firms)

Your work for the agency determines whether a client account will yield its anticipated profit. But you can be brilliant in your discipline but unfamiliar with the financial realities of the agency business. Some managers were never taught how agencies actually make money in the first place. Consequently, they don’t understand how to use creative and production departments to monitor changes in projects and keep estimates updated.

Others in the agency may not know why a money write-off is so much more damaging than a time write-off, or why keeping accurate time records is so vital. Frequently, account managers don’t realize how critical the billing and receivables functions are to a productive client relationship–or exactly what their responsibilities are in those areas. Here is your chance to learn what you have been missing all along!

In the “Show Me the Money” Workshop, you’ll learn how the agency profits and loses money, how to protect the agency’s financial interests with clients, and how to increase income from the agency’s existing accounts.

If you are a junior account executive, account supervisor, or a creative, production, direct, and interactive manager who has financial responsibilities on your accounts, you’ll benefit from this one-day workshop. Those new to accounting and the agency business will also learn procedures that affect the day-to-day work of other departments. The workshop can accommodate up to 50 participants.

Workshop Content

Participants will have the opportunity to work with actual estimates, billing roughs, final invoices and other agency money-related paperwork to aid in their understanding of the financials they encounter at the office.

The workshop will address these agency administration matters:

• Financial structure of the agency business.

• Account manager’s financial responsibilities to client & agency.

• Ensure that client-compensation agreements are read correctly and the agency is receiving the correct compensation.

• Ask the right questions to prevent billing problems.

• Deception of write-offs.

• Cut administrative time on an account.

• Focus on the billable.

• Oversee client receivables & collect receivables on time.

• Provide correct & timely billing.

• Read a production or media estimate and present it to the client.

• Recognize opportunities for increasing agency revenue.

• Write time-effective cost accounting reports.

Regarding the more directly client-related financial matters, participants will also learn how to:

• Convincingly discuss money to clients.

• Track client’s budget.

• Understand client’s mindset concerning budgets.

Mistakes do happen. This section of the workshop addresses how to handle them:

• Financial importance of preventing big mistakes, both within the agency and with the client.

• How to protect the agency’s interests.

• How to recover.

• How to satisfy the client without taking a big cash loss.