The wake of COVID 19 has brought many changes with it, some arguing that it is more of a disruption than it is a pandemic. Whichever one proves true; this new reality affects the design industry and consequently demands slight changes in how the business runs.
Are you a design agency wondering how to go about these strange times and seasons, do not close your studio!
In today’s post, we highlight how to thrive as a design agency amidst COVID-19.
It’s all in the mind.
The greatest battles are first won in the mind. It is therefore crucial that we train ourselves to control feelings of panic and despair. It is easy to become irrational and make thoughts in the whirl of chaos. A good place to start would be to alter financial goals including cash flows to something more realistic during these times.
It is important that you discuss any temporary changes you deem applicable in salaries with employees and other members of the agency as well as relevant regulations.
Fundamental to all, is to develop a new outlook and coping mechanism to last the disruption.
Impact of Covid-19 on Agencies
As life has changed for digital agencies, and they are adapting to the new norm. Here is a nutshell finding of the survey were that:
- 57% of agencies felt that the impact of Covid-19 would last for more than six months.
- 66% experienced a decrease in overall revenue. However, 16% saw an increase.
- 58% of agencies became more flexible in client terms, and 28% reduced their fees.
- 80% said that they would explore, continue or increase their investment in outsourcing.
Because of the pandemic situation, agencies are more open to a greater degree of flexibility in client relationships. Agencies, therefore, would need to adjust to the circumstances in some way or another.
Are there clients amidst COVID-19?
Industries requiring the most creative assistance include products packaging and manufacturing, advertising and marketing, motion pictures, textbook and magazine publishing among others.
Whereas it is commonplace that the manufacturing industry employs most graphic designers globally, it would prove prudent to focus keener attention to advertising and motion pictures during these times.
Companies have been forced to turn to online advertising and marketing rather than physical marketing due to health instructions on social distancing and hygiene measures. More focus has been taken online.
Designers would, therefore, have more chances sourcing for clients in the provision of advertising and motion picture services
Consider offering value as a proposition in your design assistance to small-scale businesses now more than ever. From prenatal care to catering services, more and diverse entities will require online services in the form of websites, contact information and direction. Almost anything we can think of needs soft brochures or pamphlets to sell in this crisis.
Pandemic or disruption: Should we close down for a while?
Absolutely NOT! When the going gets tough, yes the tough get going! Employ pretty easy ways to reduce expenditure and maximize profits during these times. This would look like:
- Minimise commutes and movement unless extremely necessary. It saves money and adheres to the guidelines on fighting COVID-19.
- Exploring outsourcing for the advantages of cost-efficiency and flexibility.
- Presenting new services to clients via cross-selling and up-selling.
- Hold online meetings with clients instead of physical visits to the office.
- Allowing employees to work remotely.
- Reaching out to new clients and industries.
Remember, these are temporary times where lower profit margins are not necessarily a reflection of poor business savvy but the result of strain in economies worldwide. As we hope for better times, let us apply these simple steps to help us cope in the meanwhile.
Tough times don’t last, tough people do!