EWR –> CMH
Flying time: 2 hours 10 minutes
Trip Agenda: Lead meetings with colleagues from the NYC office, pitch the work of the lab to creative and technology leads for a variety of clients.
Within the innovation lab my main responsibility is to position the products coming out of the lab to the account, creative, and strategy teams as a compelling new offering from our agency that they absolutely want to introduce to their clients. From a business standpoint, there is a provocative pitch for selling products in a service-based agency…
For the agency:
– Recurring annual revenue through licensing
– Quicker-to-market solutions for clients
– Build once, deploy many times = high margin revenue
– Licensing vs. building from scratch means lower upfront investment
– Quicker-to-market solutions capitalizes on new niches/opportunities
– Validated by proven product development process
– All equaling less upfront risk, more flexibility, and quicker route to positive ROI
The lab’s solutions are compelling too; they meet market needs and have been proven and validated in primary research and testing in the field. But there is still something that is holding our teams back from feeling 100% confident in pitching them to their clients.
Sitting here 32,000 feet above the situation, I’ve come to 2 conclusions:
1) The chief creative officers, lead strategists, and account leads have to lead this shift in business model (products in a service-based company). They are the key to empowering the tactical folks on the frontlines to implement products into their scopes of work each year.
Action: Back in the office tomorrow, I’m going to reach out to each of these leads and (respectfully) request to hijack one of their regular meetings. Having these high-level, vision- and strategy-driven folks in a room will create great dialogue on the true value of implementing products into their scopes of work. My hope is that they talk themselves into it. J
2) We demo the shit out of these products. I actually have dreams about demoing and pitching these products to our team and clients. But, I’ve never once passed off products to the folks in the room to let them drive the experience. We’ve created a “look but don’t touch” feel.
Action: Back in the office tomorrow, I’m going to start crafting plans to create an “experience room” so we can invite the strategy, creative, and account folks in to take the products for a spin…Get hands-on, test the navigation, get a feel for how they are used in the field.