Monthly 'Abstracts' that provide updates on BBN's objectives, business plan and the latest initiatives.
The three ruthless priorities
This month's abstract is an overview of the status on the ‘three ruthless priorities’ identified by the partners at the owners’ conference in May this year. Under each heading there are a series of sub-topics and a number of these are significant initiatives in their own right, requiring both resourcing and funding.
1. Marketing plan
The plan itself is finalised and sub topics progressively being implemented. Already, despite it being early days and high holiday season, we are experiencing increased interest in BBN.
- Annual report– team being formed and creative brief to be delivered in next two weeks
- Consolidated accounts – partners will receive request for financial details in early September, please remember, , prompt and compliant response is essential.
- Centralised PR resource – task team has been formed and they have a kick-off call scheduled on 4 September.
- Articulation of collective expertise – process for creation of detailed experience and expertise matrices being finalised
- Showcase more creativity and case examples – new format for case studies under development, once complete, partner commitment required to provide examples of top quality work
- BBN leading the B2B standard globally – this has been moved under Partner optimisation plan
2. New business development plan and goals
Again, the plan is essentially finalised and focusses around partners in regional and specialist expertise groups collaborating to identify prospective clients where a joint approach positions us more strongly to win the business. The role of BBN Central being one of coordination of activities and leads from; partners, direct contact to BBN and Yves Romestan’s activities.
- New business development plan – various ‘forming’ meetings have been held to date in APac and Europe. A Nordics meeting is scheduled for 6 September. Contacts and progress monitoring templates have been created for all regions.
- Goals - in terms of numbers of RFP’s, pitches and financial targets none have a yet been proposed. Clearly we need these, and a proposal will be produced in the next two weeks. The most important thing is to objectively quantify and present what the potential is for agencies to increase their revenues as a result of their partnership in BBN. The good news is there are a number of multi-partner new business opportunities being worked on right now, in two of which the budgets amount to $1.5m.
3. Partner optimisation plan
Herein lies our greatest challenge. Unlike the previous two priorities progress is far less and the level of planning is in its infancy. Do not misunderstand, against virtually each sub topic there is activity, but not at the level we believe should meet partners’ expectations. BBN has always had ambition that is exponentially greater than its resources, and whereas finding solutions in that culture of ‘beautiful constraint’ has seen us prevail when others have thrown the towel in, we cannot allow it become a series of initiatives that only part deliver, or worse still fail entirely.
One of the aims of these abstracts is brevity, so next month's abstract will focus in more depth on the third priority alone and quantify the issues associated with the delivery of the sub topics the sum of those parts being delivery of the goal in its entirety. What is however clear at this stage is that an enhanced and equitable form of partner participation in conjunction with BBN Central will be required.