Yesterday Is History, Tomorrow Is A Mystery

Posted by Ashley Miller on June 25, 2015

: Is your marketing agency using historical business data to plan for future activity?

Do you feel like the future of your Agency is a complete mystery?

Many of us have heard the old saying that ‘our past is what made us who we are today’ – but how does this apply to your business? Are you able to use past performance to predict future activity?

Most Marketing and PR agencies can talk anecdotally about past performance – who they’ve worked with, the award winning campaigns, and how profitable they have been. But fewer Agencies are able to predict or plan for the future performance of their business based on accurate historical data.

This is one of the top business challenges that I hear from leaders in the Marketing and PR industry. 

They all know that they need insight into their past activity in order to make strategic business, but their business processes are not always set up in such a way that allows the key data to be recorded and reported on.

What historical data do you need to analyse?

  1. Are we realising our target profit margin?
  2. Are we over servicing or even under servicing our clients?
  3. How successful are we at winning bids?  Why do we win/lose?
  4. Is our marketing strategy focused on the services which increase turnover and profit?
  5. Are we recording all time and expenses on our projects?
  6. Are our project structures running profitably and/or can we improve in any area?

Answering each of these questions  can be a lengthy, laborious and extremely manual task, meaning the real-time data you need just isn’t available – and therefore for you, tomorrow really is a mystery!

But what if you could strategically plan for ‘tomorrow’ because your ‘history’ had been analysed and processed almost as it happened?

If you would like to learn more about using historical data within your business to help you to create a more profitable future, I recommend that you download this free eGuide: Understand Your Financial Past To Create A Profitable Future