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5 Common Mistakes to avoid while running an agency

Published

3 years ago

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New Delhi (India), January 29: It is widely believed that India is witnessing an agency boom at the moment. Even in the midst of a pandemic, when most businesses had to shut shop, many agencies were springing up all over the country. (LBB, 2020) But starting an agency and running an agency are two very different things. And a quick deep dive at numbers or even a short conversation with any industry insider would help you see the real picture pretty quickly. The number of agencies that fold within a couple of years is pretty significant.

But it would be naïve to assume that the failure of these agencies is to be blamed on one big reason or lack of capability on the part of the people running them. The truth of the matter is that these agencies work in a market with squeezed margins and increased competition, with multiple factors that make mere survival difficult. But that is not to say that running an agency successfully is a pipedream. What’s more important than ever is to avoid mistakes that could kill your venture before it starts. To put it simply, a ‘what not to-do’ list.

(A) Purpose The very first reason many of these agencies fail is the lack of a concrete purpose or vision. You think you have the necessary skills or relevant knowledge to start out on your own. So, you take the plunge under the assumption that once people see your work, getting clients is going to be a piece of cake. But within a couple of months, reality hits.

To put it bluntly, mere talent isn’t enough to run a successful agency. You need to have a solid vision to make yourself stand out from the crowd. What is the reason for you to start your agency? How is it different from the competition? Are you willing to take risks? It is imperative to have clear answers to all these questions before you start. It is also important to be willing to take risks. Starting with no vision and an aversion to being disruptive in the market is probably a death knell even before you start.

(B) Pricing Another reason why many agencies fold in India is undoubtedly the low cost of input or investment involved. While this is touted as a major reason for the agency boom in India, it has led to a situation where the market is filled with indistinguishable agencies competing with and eventually cannibalizing each other. So, the only way many agencies know how to distinguish themselves from the competition is pricing. In order to survive and grow, they agree to prices way below an acceptable level. This is a grave mistake to make. The moment you start undervaluing and underpricing your work, you are effectively communicating that your work is substandard. While it is true that most clients are price-sensitive, it is also a fact that clients looking for quality do not mind paying the price if they think the output is worth it. It is also the only way to get long-term loyal clients and build a reputation. Clients acquired through low pricing are just going to jump the shark when the next agency offers them an even lower price.

Another aspect of this is the burnout and disillusionment that comes with accepting work that is unchallenging and underpaying. Most agency employees today are working longer hours and believe they’re underpaid. (Digiday, 2020) Hence, a big part of running a successful agency is the ability and courage to say no to work that underpays.

(C) Collaboration In India, the top agencies get the major share of the advertising pie. These agencies have well-established departments and areas of operations providing a variety of functions. On the contrary, most small or mid-size agencies have one area of operation- SEO, copywriting, design, etc. This then becomes another hurdle they struggle with while acquiring clients. This is one major reason why many mid-size agencies are dying off. In other words, these agencies are quickly becoming the Blackberry phone of the advertising world.

The solution to this problem lies in collaboration. In order to survive, small agencies need to join forces to optimize their strengths. The benefits of combined synergies are not just limited to survival and growth, but also better output, increase in creativity, time saved, and new access to previously untapped clients.

(D) People and Processes This is the step that is probably most ignored when it comes to running an agency. Most agencies think that just by hiring talented people, they can ensure the success of their business. But this cannot be further from the truth. Hiring the right people and investing in the right people, after all, are two very different things. Running an agency means you are working with highly creative professionals- people who have strong opinions, artistic tastes, and possibly, egos. How you deal with your employees is a strong factor that could make or break your agency. In an article published in January 2022, building healthy employee relationships was seen as imperative to the success of any business, particularly agencies that struggle with high turnover rates. (Forbes, 2022) Therefore, it is important to build honest relationships and make bonds with your employees that are based on mutual respect and appreciation.

Another important aspect of this is to set up processes that are simple, effective, and time-saving. From creative pitches to communication frequency and reporting, it is necessary to have clear systems in place. This can be extremely helpful for employees to know what’s expected of them, how to go about it, and help them to review and take corrective action when needed.

(E) Finance Since most agencies are run by people whose main strength lies in their creativity, mismanagement of the financial aspect of running an agency is much too common a mistake. The lack of sound systems and processes in place leads to a situation where an agency becomes a prime target for being taken advantage of. It is, therefore, necessary to ensure that there are set processes in place and that these are followed irrespective of the work or client. Having robust and transparent contracts is necessary to gain client trust as well. Many large advertisers have long felt a lack of clarity in their relationships with media agencies. (McKinsey & Company, 2018) Being upfront with clients at the start of negotiations and ensuring that payments are received at pre-decided intervals can help ease out these worries. Being honest with your finances at every step is paramount to ensure longevity in the market.

It is also important to be aware of the many schemes and policies put in place by the government to help out small businesses. In recent times especially, there are many schemes intended specifically for budding entrepreneurs in MSME sectors like ‘MSME Business Loans in 59 Minutes’ for easy and quick loans, ‘Market Development Program’ for expansion to international markets, and multiple tax credits as well. (OkCredit, 2020) It is important to do extensive research on these policies to ensure that you’re getting the maximum benefit.

Like any small business, running an agency also depends on a multitude of complicated factors that need to work in cohesion and harmony at all times. And while success is not something you can predict or guarantee, avoiding the crucial mistakes listed above can definitely help you sustain and grow in this highly competitive market. 

Agam Chaudhary- With 15 years of experience in the digital marketing and technology sphere, Agam brings with him a vast array of knowledge as well as innovative and exceptional processes sure to deliver organization-wide transformations. Having run a successful agency for more than a decade and worked with brands across various industries and geographies, Agam has a unique view and understanding of the digital sphere that is both contemporary and disruptive. In the last 5 years, he has also helped various agencies and e-commerce businesses to scale up and multiply the size of their billings/profits. His latest assignments have been launching NFT Marketplace and the Metaverse game. He can be reached at [email protected] / https://www.linkedin.com/in/agamchaudhary/

Bibliography

LBB. (2020, December). The Class of 2020: 14 Agencies That Launched in the Midst of a Pandemic.

Digiday. (2020, March). Digiday Research Report: Ad agency employees are overworked and underpaid.

Forbes. (2022, January). how-agencies-can-ensure-strong-employee-relations-at-the-hiring-stage.

McKinsey & Company. (2018, May). Truth in advertising.

OkCredit. (2020, December). https://okcredit.in/blog/government-policies-for-small-businesses/.


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Press Release

Top 5 sweepers the world of cricket will never forget

In cricket, sweepers make or break games. While we tend to drool over the attacking phase of the game, sweepers are at the heart of a team’s solidity, especially if you don’t want to be helplessly conceding fours.

Published

2 years ago

on

January 19, 2023

By

cricket-betting

In cricket, sweepers make or break games. While we tend to drool over the attacking phase of the game, sweepers are at the heart of a team’s solidity, especially if you don’t want to be helplessly conceding fours.

Notably, when the biggest cricket teams play, top bookmakers like Betway (available after you download the Betway app and install it) have teams with strong sweepers as favorites to win.

Indeed, the lovable game of cricket has seen many eminent sweepers come and go. But which sweepers have eternally cemented their legacy and stamped their names in the sands of time?

1. Andy Flower

Andy Flower was one of the most notable names in Zimbabwean cricket. His batting skills were second to none, and he’s statistically the greatest batsman in his country’s history. One of his most prominent attributes is the use of the reverse sweep.

In 2001, Andy was ranked as the best batsman in the world. He was a wicketkeeper for the Zimbabwe national team for a decade. Andy could bat on any surface irrespective of the speed, and only the most skilled bowlers stood a chance against him. Indian fans would best commemorate him for his heroics in the 1999 World Cup.

2. Mushfiqur Rahim

Spinners are renowned for using their rotation technique to get the batsman out. Well, as long as it isn’t Mushfiqur Rahim. The Bangladeshi will counter them with one of the most notorious shots in cricket, the sweep. He’s a master of the orthodox and slog sweep.

Aside from the sweep, he had many other batting techniques in his arsenal, and he’s one of his country’s best batters of all time. 

Rahim made his international debut, lining up against England at the notable age of 16, and has been shaping his batting skills since then. One of the most prominent periods of his career was in the 2010 test against India, where he scored the quickest century by a Bangladeshi.

He holds many records in his country, such as being the only Bangladeshi player to win 150 international matches. Mushfiqur is the only batsman in Test cricket to score double hundreds. He’s also the highest individual scorer in Test cricket for his country.

3. Sarfaraz Ahmed

Sarfaraz Ahmed hasn’t done much to warrant himself as one of cricket’s all-time greats, but he did just enough to be known as a formidable sweeper. He could time the bowler’s throws and deliver a sweep that slices through the wind. Sarfaraz is a right-handed wicketkeeper batsman. 

He was central to the conquests of the Pakistani team that went home with the ICC World Twenty20 in India. They defeated the home country, their arch-rival, to lift the trophy. Sarafraz became the team’s ODI captain soon after and its Test captain later.

He led the team to the Champion trophy in 2017 and is the youngest Pakistani player to have received the Sitara-i-Imtiaz. The Sitara-i-Imtiaz is the third highest civilian honor in his country, and only notable individuals receive it. Sarfaraz Ahmed played 198 test crickets and 156 ODI matches in his career, scoring over 8000 runs.

4. AB De Villers

AB De Villers represents South Africa at international levels. He played at the top level for 15 years and is unarguably one of his country’s finest cricket talents. Therefore, it’s no surprise that he won the ICC ODI Player of the Year award three times.

He’s an outstanding batman who mastered the sweep-shot technique. Villers initially played as a wicket-keeper-batsman before becoming a prominent batsman, playing mostly in the middle order. 

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His nicknames were Mr.360 degree due to his all-around ability and Superman because of his acrobatic prowess.

He can hit the defensive sweep, the reverse sweep, the conventional sweep, and many other shot types you could imagine with insane accuracy. ABD is also able to play different shot types at will. His unpredictability with batting is why he’s many bowlers desist his presence.

AB De Villers has notched more than 8,000 runs in ODI and Test cricket, averaging fifty per game. One of his most famous nicknames is also the “Lionel Messi” of cricket.

5. Sachin Tendulkar

Sachin Tendulkar has climbed the highest stage and reached the peak of cricket. Calling him one of the best batters in history would be an understatement; he’s unarguably one of the greatest cricketers ever. 

With over 33,000 runs in both ODI and test cricket, he’s the cricketer with the most runs in history.

His most preferred variant of the sweep shot is the paddle, and when a master does it, it feels different. Combined with other shot types in his repertoire, he wreaked havoc on teams around the globe. He was also a fine bowler and turned up whenever India needed him.

Indian cricket fans adore him and nickname him “The God of Cricket.” Wisden included him in an all-time cricket XI in 2013 and is a member of the ICC Cricket hall of fame. He played his last Test and cricket match in 2013.

Conclusion

The sweep shot, if executed perfectly, is one of the most effective shots in cricket, and mastering it requires repetition. 

Many players are renowned for their use of the technique, but some edge out others. These five players are the best five sweepers of all time.

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Press Release

Rating of Best Betting Sites in Bangladesh 

Published

2 years ago

on

January 18, 2023

By

cricket-betting

Online betting sites are very popular today. A long time ago many bookmakers began to give up their land-based gambling outlets. It is much easier and more convenient for everyone to arrange their services on the Internet through multifunctional and accessible sites. To date, there are already a huge number of bookmakers working online. And in spite of this, new ones are constantly appearing. Many betting companies accept players from Bangladesh and even translate the interface of their site into Bengali. In addition to this, bettors can choose BDT as the currency of their account. This helps avoid conversion difficulties. Such excellent conditions could not leave these sites without attention. There are already quite a lot of them and often beginners have the question of which bookmaker to turn to. In this article you will get the answer. You shall get acquainted with the best online betting sites in Bangladesh. 

Factors for choosing a betting site

In order to choose a good betting site you need to consider a few basic factors. These are the general criteria used by experienced bettors:

  • Reliability. Make sure it’s safe for you to use the site;
  • Bonuses and promotions. Whether you have a chance to win generous rewards;
  • Customer service. Whether you can get quality help when you need it;
  • Gambling options. Does the bookmaker offer a wide range of betting options on its website;
  • User interface. Whether the site is simple and easy to navigate.

Make your choice based on these points. You can your own analysis and study all aspects of betting sites. True, it will not take much time. Therefore, this rating was prepared especially for you. It is relevant and independent.

Top sites in Bangladesh

In this ranking you will find only legal and safe websites for users from Bangladesh. Each company has positive reviews from players, Bengali interface language, as well as BDT as game account currency. You can read more about the bookmakers below:

  • Parimatch. Legitimate bookmaker offers bets on 30 sports, live with online broadcasts, convenient methods of deposits and payouts. In the parameters of the site users can set their favorite transaction amounts. Set up actions when changing quotes, choose the type of design, set the option “1-click betting”;
  • Mostbet. The detailed list of popular sports, a lot of offers on e-sports and profitable bonus programs. The site can also play casino, watch online broadcasts, register and verify, make cash transactions;
  • Linebet. At the bookmaker you can make bets on 30 sports. Of the rare game disciplines on the site are billiards, water polo, motorcycle racing, squash, floorball and others. The line covers most professional leagues, some regional and women’s championships;
  • 1xbet. On the official site of the bookmaker’s company users place bets, play casinos, make transactions, participate in the bonus program, ask questions to the support service, register and authenticate themselves;
  • Betvisa. In the live-roll you can find major and minor marquees, offers on game segments and combined outcomes. Authorized users watch live video broadcasts, guests of the site may graphic visualizations of current meetings;
  • Dafabet. On the main page of the official site players will see a line of bets on important current and upcoming matches, sports, search bar, banners of bonus and sections. The bookmaker offers odds below the market average. The average margin is 4-6%. The level of quotes depends on the discipline, competition and market;
  • Bet365. Website takes bets on 40 sports with an average margin of 3-5%. The bookmaker offers high odds on top leagues, easy registration and identification, prompt support service;
  • 22Bet. Users of the new bookmaker’s office make bets on 30 game disciplines with a detailed list of important matches, participate in the incentive program, and conduct financial transactions. In live, players wager on most current events, including women’s and amateur championship matches. Depending on the time of day and day of week, there are up to 10-15 game disciplines in live;
  • Betwinner. On the site, the bookmaker offers a detailed description of cricket, soccer, hockey, tennis, basketball games. In the listings you can find proposals for major and double outcomes, results by time periods, totals and handicaps, performance, personal performance players;
  • Melbet. Reviews about the bookmaker on the Net are mostly positive. Users write about a wide line, competitive quotes, regular promotions and fast payouts.

This is a brief description of the 10 best sites in Bangladesh. You can choose any of them and get quality services for betting, and therefore earning real money.

Registration on the site of the Bookmaker

Regardless of which site you choose to bet, the first thing you have to do is to create an account. Without it you will not be able to make a wager and earn real money. Since the process is basically the same on all betting sites, the following universal instruction was compiled:

  1. Go to the official site of the bookmaker;
  2. In the top line on the right or left corner you will see a button to register;
  3. Next, a window shall open in front of you, in which you need to fill in the blocks;
  4. You must come up with a username and password;
  5. Then enter your phone number or email;
  6. Choose the currency of the account;
  7. Read the terms and conditions of using the services of the company;
  8. Confirm your age of majority;
  9. Click on the button to create an account.

Only adult residents of Bangladesh can register and bet. Each user must verify their details through the verification process. So the company management can make sure that you are 18 years old and you may gamble according to the laws of Bangladesh.

Verification on the bookmaker’s website

This process is necessary so that you can easily make bets in the future. In general, many professional bettors advise to verify immediately after registration. Then you will avoid problems with the withdrawal of winnings. In order to verify the data you shall need:

  1. Open the official website of the bookmaker;
  2. Login to your personal account;
  3. In your profile, click on the verify button;
  4. Then you will have to specify your personal data;
  5. And then attach a photo of the document. This may be a passport or driver’s license;
  6. Send the form to verify the account to the specialists of the company and wait for an answer.

Usually the procedure takes about 24 hours. Provide the correct data. If they do not match the information in your document, the specialists will reject your application and may freeze the account.

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Press Release

A quick summary of the Pin-Up casino in India.

Published

2 years ago

on

January 12, 2023

By

online game

Find out what the online casino phenomenon is all about. Why are such gaming portals in great demand among different categories of players? How to win real money at Pin Up online casino?

How to Win at Pin-Up Casino: Tips for Beginners

Any online casino in India is a relatively risky virtual gambling platform where anything can happen. Although it attracts the idea of ​​winning big money, you should not forget that this is a game of chance, in which you can lose. Luckily, there are some tips on how to win at Pin-Up Casino, one of the most popular casinos in India, that will significantly increase your chances of winning.

Features of the game on the site of the online casino

Before you begin playing for real cash, it is essential to carefully consider the choice of a casino and read the conditions under which it operates. Now on the Internet, you can find many online casinos that offer players a wide range of privileges and many types of gambling for every taste. But not all casinos are safe. Here it is essential to pay attention to whether the gaming site is licensed. For example, a fairly popular portal in India, the Pin Up casino, has a special license, which confirms that its activities do not contradict the country’s current legislation. What does it give the players? It’s simple: when playing in such a casino, you don’t have to worry that something will happen to your account, and you will lose all your money.

Online Indian casino, like all other gaming portals, allows players to gamble for real money. Unlike real establishments, the odds of succeeding here are much higher. This is because many games need to be regulated by the casino itself. That is, the game portal cannot influence the result. It all depends solely on your luck and skill in playing online slot machine.

Tips on how to win at the Pin Up

Having decided on a reliable and safe casino, you can start playing. Here are some tips to help you increase your chances of winning:

  1. Bet on the most profitable games. Keep in mind that casinos always have a fixed or variable percentage of profits, so they always win. Thus, to win, it is important to choose those games in which the online casino edge for money is lower.
  2. Before placing bets, learn how to play. Some casinos usually offer free practices that allow players to practice different betting strategies depending on their results.
  3. Accept the benefit of promotional and bonus offers from casinos. Many gambling establishments offer a casino registration bonus. It can be free spins, free spins, or other chips. Using such bonuses, you do not lose anything.
  4. Bet only on what you win. This will allow you to manage your funds perfectly. For example, if you bet $100 and win $100, then play only for this amount, as you can be guaranteed to get 100% profit in casino slots.
  5. Try to bet small. Dosing the number of your bets guarantees you more gaming sessions and less investment.

Do not forget that gambling can harm a person, so try to control yourself or set a fixed budget for yourself. Self-control is the key to a successful game.

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