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Managing Professional Communications Agencies - Overview of internal and external profit management

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Places available:
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Course Type: 
Classroom based

This overview course helps delegates to see that financial understanding is a critical skill for successful, senior account handlers and board directors - not just the FD! It demonstrates graphically how their actions can influence their firm's profitability by more than 100%. It focuses on the key levers that affect agency profitability and how they can be managed to ensure that staff are effective without being over-worked or over-stretched. It also helps delegates to understand the key factors involved in winning, managing and growing client accounts profitably. It examines the factors affecting client profitability and how to monitor and control them. The session aims to provide senior account handlers with the skills necessary to ensure that their agency is properly paid for the work that it does.

Course Objectives: 

Be able to optimise their firm's financial performance and maintain profitability even when the unpredictable happens.
Understand the different ways of managing time and fees to ensure that over-servicing is reduced (or eliminated entirely) and that better time management always leads to greater staff satisfaction and improved morale.
Be able to manage their clients and accounts effectively to ensure that they optimise profitability and growth opportunities. Their teams will enjoy greater clarity of purpose and higher satisfaction. The firm will grow faster and enjoy greater profitability.

Learning Objectives: 

The aim of the course is to provide an overview of the following:

Strategic and financial planning and forecasting
Why ‘time' should be your currency not £s….
Key ratios - what are they and what do they tell you?
Over-servicing - the root of all evil - and how to kill it!
Understanding ‘utilisation' and ‘capacity'
Estimates, quotations and budgets
Basic accounts, revenue and capital expenditure
Growing existing clients/accounts - the 9 things we all forget to do!
Winning new business - establishing a profitable basis
Client contracts - what's important and what's not
Negotiating the deal - a simple method to ensure optimum profitability
Dealing with difficult client contract demands
Maintaining a client service/profitability balance
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Full course notes will be provided. A notebook and pen will also be provided. If you prefer to work on a laptop, you are more than welcome to bring it along with you to use throughout the day.