One of the biggest challenges that agencies face is making “more” money… At the end of the day, most agencies sell head hours, head hours of awesomely talented people, and almost all of the world’s biggest and best agencies/networks are built purely around hours, and to me, that’s got to change, because it will not only be harder and harder to sell hours in the future, but it just doesn’t provide the opportunity to control your own revenue growth or the ability for a passive income.
That’s where SOAP Creative are doing things just a little different, they’ve released an app called Diggin’ Dogs, an iOS game, by utilising their internal skill sets to generate a product based, passive income stream, something I believe more agencies need to do!
Apps: The Future of Agency Revenue Models? That’s a very generic and predictable headline right? Sure, but just look inside your agency, it’s got every single skill set needed to create a startup, in fact, many of us work on startups or enterprise business, helping to create and build their products, take them to market and even plan the CRM strategies too…
So what if you could re-think they way big agencies make money, utilise all that talent to create new, agency based products? Well, I suspect our business would grow faster, become more dynamic, yet even more stable/robust and have the ability to retain staff longer… It’s win win. And even by diverting hours on say, the 20% Google model, it would revolutionise these businesses in just months, and completely transform the industry over a few years.
A few agencies area already doing this, and I suspect most would want to, but it’s only history stopping us! So how to get started? Apps… Start with an app, and think like a startup.