The Hidden Costs of a Broken Creative Process
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Everyone knows the process of getting reviews, feedback and approvals on creative work can be a nightmare. But have you ever stopped to consider how much time and money is wasted by a broken creative process? Not only does inefficient creative collaboration cost you in terms of billable hours, project overages and production delays, but such bottlenecks can have enormous business impact—including delayed campaigns and missed revenue opportunities. And that’s definitely a career-limiting move. In this presentation, Mike Trigg, COO of Hightail, looks at the hidden costs of a poor creative process and ways to get teams aligned to make your creative as efficient as your well-negotiated media plan. To check out the full webinar recording, visit http://bit.ly/2f7Cl09
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The Hidden Costs of a Broken Creative Process
- 1. The Hidden Costs of a Broken Creative Process Stop Wasting Your Time and Money A D W E E K W E B I N A R P R E S E N T E D B Y 1
- 2. #createbetter The Creative Crunch Marketing Automation Multiple Channels Multiple Variants Marketing Analytics
- 3. #createbetter The Creative Crunch Marketing Automation Multiple Channels Multiple Variants Fragmented organization Multiple stakeholders Creative Team Marketing Analytics
- 4. #createbetter Feed the Beast! 60% of marketers say producing content is a top challenge
- 5. #createbetter One-third of creative projects are late or over budget Have you missed a project deadline (or run over budget) in the last 12 months? Yes 33% No 67% Source: Hightail survey
- 6. #createbetter 60% do not fully meet their objectives 44% of projects delivered late, over budget, or incomplete 24% failed altogether and canceled or abandoned Sources: IBM and Standish Group
- 7. #createbetter 75% of marketers don’t have an effective creative processSource: Content Marketing Institute
- 8. #createbetter Poor project management is top reason projects are late or over budget Unclear client feedback Inefficient review process 39% 66% 64% Poor project management Unclear approval process 32% 26% 34% 2% 25% Why do you miss deadlines or run over budget? Source: Hightail survey
- 9. #createbetter What are you gonna do??? You can’t rush creativity! Who knows what the client will like? Creative projects are messy!
- 10. #createbetter Of marketers have a process in place to aggregate, organize, and manage visual assets being used across their marketing teams 27% Source: CMO Council
- 11. #createbetter Most feedback is still provided in email… Face-to-face meetings Photo / Video conference Email 39% 66% 64% Source: Hightail survey
- 12. #createbetter Most feedback is still provided in email… Face-to-face meetings Photo / Video conference Email 39% 66% 64% But only 30% think email is effective Effective 27% OK 32% Perfect 3% Completely ineffective 5% Could be better 34% Source: Hightail survey
- 15. #createbetter Managers spend 30-60% of their time in coordination meetings Source: Boston Consulting Group Lost Time
- 16. #createbetter Lost Clients 76% of agencies believe they are good at demonstrating ROI Only 40% of clients agree Source: FASTCO.CREATE, RPA, USA TODAY
- 17. #createbetter 30% annual employee turnover rate Source: MediaPost Lost Morale “Too many rush projects, poorly planned projects, and lack of project direction.”
- 19. #createbetter
- 20. #createbetter Source: 4As Survey Account Exec $98/hr Creative Director $283/hr Chief Creative Officer $861/hr Art Director $178/hr Digital Designer $137/hr
- 21. #createbetter Source: 4As Survey Account Exec $98/hr Creative Director $283/hr Chief Creative Officer $861/hr Art Director $178/hr Digital Designer $137/hr Blended Creative Rate $200/hr
- 22. #createbetter Consistent ROI Saves 10 hours per week Saves four hours per shoot Saves 5-10 hours per project Speeds up review process by 35% Reduces review turnaround times from four days to one Gets feedback on-time 20-40% more efficient 10-20 hrs/week savings $100K-200K saved/yr
- 24. #createbetter Creative Approval Presentation Update Edits Feedback Creative collaboration is hard
- 25. #createbetter Approval Presentation Update Edits Feedback That’s why we built the all-new Hightail
- 26. #createbetter That’s why we built the all-new Hightail
- 27. #createbetter Creative output is the bottleneck to your marketing execution
- 28. #createbetter More campaigns More creative testing More customization More quality output More revenue Benefits of creative efficiency