What should agencies be doing to be more profitable?

Marilyn Baxter’s report for the IPA reviews the relationship between clients, agencies and procurement. She has some sound advice in particular for agencies:

Improve project management skills
Communicate in a more structured and effective way
Improve negotiation skills
Increase transparency
Have courage to walk away and decline to pitch

“All these best practice techniques will lead to increased efficiency with which the agency is managed, which will in turn push money to the bottom line and increase profitability. “