London marketing agency: from the verge of failure to unparalleled successTurnaround Strategy
Our firm was asked in 2013 to help turn around a marketing agency from one on the verge of failure to a successful one, recognised as an industry leader.
Through the deployment of an ROI (ή) Chief Operating Officer (COO), we have helped our client achieve its highest turnover ever in 2015, reach its profitability targets and receive national recognition for its transformation and the quality of its work.
Turning around failing organisations to successful ones is an art and a science. A science that involves the robust analysis of performance data, the identification of capability and organisational gaps and the development of a detailed understanding of competition and markets; an art in empowering employees to aspire to deliver what they thought was impossible and developing a narrative that gets clients to believe in the organisation’s capabilities. Based on our track record of delivering successfully in highly complex commercial environments, our firm was appointed to provide this agency with both advisory and implementation services, formally assuming the role of the COO for this marketing agency.
Our work started with helping to get the basics right – streamline operational/financial procedures, develop better relationships with existing clients and authentically involve employees by gaining their trust across the hierarchy. Since 2013, we lead the agency’s operations providing all strategic operational services (COO role) including the below:
- Transformation and management of HR, financial, client management and other operational procedures
- Account management of the agency’s top 5 major clients
- Transformation and management of the agency’s business development process – from tendering to relationship management
- Development of a performance monitoring framework covering financial, business development, operational and HR indicators
- Close collaboration with the agency’s CEO and the board of directors.
After a period of reducing turnover and a significant risk of losing in excess of 70% of its work, our client was recently recognised as the UK’s marketing agency of the year by the Chartered Institute of Marketing in the UK.
In the two years since the start of our partnership, our client exceeded turnover and profitability targets and achieved their best staff satisfaction scores.