In-house agencies unveiled: Balancing the books of productivity

Vicky Hope

March 2, 2024

In-housing

Creative

Culture

In the dynamic world of financial services marketing, in-house agencies are taking a pivotal role by championing efficiency and innovation. However, finding the perfect balance between rigidity and flexibility can be as precarious as a high-wire act.

There’s a fine line between process for process' sake and efficient processes. The last thing as a client you want to hear is “computer says no” from the agency because the processes the agency have in place are so stringent there’s no manoeuvrability when problems need solving or priorities change.

Here, I’ll be sharing four pivotal areas that can revolutionise the way an in-house agency operates. I'll also touch upon the broader themes that should underpin your process design strategy – the implementation of apt MarTech solutions and the adoption of agile methodologies to supercharge your efficiency.

Work stack sizing

When you’re delivering projects at scale the in-house agency team will need to know the work stack. Your marketing plans for the next 12 months (or if that’s not possible the next three - six months work) should help with forecasting this and will give the agency the best chance possible to size the team appropriately to deliver your work. Plus, you’re likely to have regular marketing and communication going out to your customers each year, particularly in financial services and regulated industries.

Historical agency data should enable any good agency to forecast how long regular jobs take. They can then plot this against the size of the team required and their capacity, and that should give an optimal work stack.

Doing this early not only helps you and the agency know what’s coming down the line over the coming months but also helps you understand how much work can be done from a capacity perspective. If you choose to do more work, it’s then easier to discuss funding extra headcount, or re-prioritise work stack to focus on the most important projects.

Brief reception

A robust work stack sizing exercise leads to a much more efficient brief reception process. This is where MarTech solutions can be used by the in-house agency.

Once you’ve prepared the brief and had sign off from all your stakeholders, an efficient way to instigate the brief is to use a system such as Jira (or one of the many other options out there). This allows the team to allocate briefs, tag the appropriate team members who are expecting those briefs, and have an open system that allows everyone to see the progress of that brief. It’s critical not to have it buried in the depths of someone’s email inbox.

The value of people

If the planning has been done and the correct amount of time has been allocated to the project, give the in-house agency team the freedom to work within a framework, but not be restrained by it.

Let them work collaboratively with you and you’ll be happier as the client and so will the creative team too. It’ll make things much easier when it comes to the approval process.

The classic agency route is to go dark for a few weeks, working up three creative concepts in isolation, which when the agency present back, none of which you like… and they need to go back to the drawing board, and manage the timescales and planning all over again. Collaboration is key!

Let’s assume the in-house agency team receives a stellar brief, and the creative part has been developed and approved in line with the timing plan and processes (we’ve not had 20 rounds of creative amends here!)

The agency should have some rules in place around the level of changes that can be made once the creative has been approved. I’ve lost count of the number of projects I’ve had in my career when everything’s been approved, and it’s moved into production/build/print and the dreaded “we’d like to make a few changes” conversation

starts. Of course, in some circumstances, this can’t be avoided based on real situations or scenarios that might change the direction of a project, but a robust set of rules should mitigate this happening constantly and benefit everyone.

Time tracking

Each of these areas are intertwined in an infinite loop, knowing how long projects take, informs how much capacity a team can take on. The more projects the agency completes, the more accurate these time estimates become. However, in an in-house team environment, this can become a forgotten element of the process.

As a client, you pay your retainer fee, as an agency that works out as X number of people on the team. But that’s not enough if you aren’t being efficient with that fee/time.

Many times I’ve seen client/agency relationships descend into the “all you can eat” buffet approach where 10, 15+ rounds of creative are worked through because “it’s already paid for” but that doesn’t make it efficient, and doesn’t reflect well on the volume of work you complete as a client or the volume of work you can deliver as an agency.

Setting some boundaries around the allocated time for the project is key, for example, the expected number of rounds of amends, or the number of concepts a client should expect to see in the first stage.

The upshot of tracking time means the agency have meaningful data and MI to share with you but also enabling the agency to continually review, improve and enhance processes for maximum efficiency.

Concluding insights

The essence of a successful in-house agency lies in its ability to adapt and improve continually. Preparation, collaboration, and boundary-setting are all crucial components of a well-oiled in-house team. Mastering the complexities of in-house agencies requires a mixture of precise planning, apt technology application, and a touch of agility.

To those brand and marketing leaders seeking a partner to develop or rejuvenate your in-house composition, look no further. LOOP Agencies specialises in developing and managing robust in-house teams that deliver potent, scalable creative campaigns within the financial services and regulatory sectors. Talk to us if you want to build or recharge your in-house offering. Email co founder ed@loopagencies.com