Mediaweek held its inaugural Power Lunch in October, celebrating the successes of the media industry and the people who make it.
Jack Byrne, founder and former managing director of Hatched Melbourne, rounded out the Mediaweek Agency 50 list in 50th place.
Byrne has since stepped down from the independent agency to focus on his new venture Zitcha, an all-channel retail and commerce media technology platform, as its co-founder and COO.
Mediaweek caught up with Byrne about his optimism for Hatched’s leadership team since stepping down, and outlook for the industry.
Mediaweek: Congratulations on making the #50 spot on our Mediaweek Agency 50 list. What was your reaction to your placement?
JB: While it’s always nice to be recognised by the wider industry (in this case Sparrow ?), to us, what really matters is looking after our people and giving our clients the time and attention they need to grow their businesses.
MW: How does your position on the list reflect the achievements made by Hatched?
JB: It’s hard to quantify our achievements with a single number. That said, there are a couple of numbers we are really proud of. The first is 93. That’s our staff retention percentage for the past year which knocks the media industry standard out of the park. Another is 96. That’s our client retention percentage. These are the two most important metrics for our business and we’re really bloody stoked with them.
MW: What are three industry issues on your mind, and in your opinion, how can they be solved or achieved
JB: Retail media is a huge area of growth for the industry and one that is ripe for opportunity for both brands and agencies. It’s still in its nascent phase and I would encourage marketers to educate themselves about this now or risk being left behind.
The craft of media is an issue that can sometimes be forgotten in the day-to-day cut and thrust of this business. And it shouldn’t. Agencies need to get back to the brilliant basics of comms planning to really deliver for their clients. The media landscape is constantly evolving which makes planning campaigns a true art form.
Talent. We’ve always tried to lead the way as ‘Agents of Positive Change’, and when we started more than a decade ago, we were a bit of an island on this front. But it’s great to see the media industry make big steps in the right direction regarding the importance of looking after its people. There are still major challenges in training juniors and retaining staff in the industry long term, as well as working parents returning to work part-time after parental leave. But there is a light shining on it. And the intent to solve it will go a long way to doing just that, given time and focus.
MW: What is your outlook for Hatched in the year ahead?
JB: Earlier this year, I announced I’d be stepping back from the day-to-day management of Hatched. After 10 years of seeking out the best craftspeople in Melbourne and most recently Sydney, the time has come for me to get out of the way and empower the real talent to take the business to the next level in 2023 and beyond.
I’ll always remain a part of Hatched and I’m excited to see how the leadership team progresses without the founder casting long shadows over each decision made. It’s a change that has been a long time in the making and sees Stephen Fisher elevated to CEO.
Adrian Roeling has also stepped up to COO and Virginia Scully has been promoted from head of people & culture to managing partner – people. We also created a general manager role for Rebecca Den Braber. It’s a stellar line-up to lead the business and, I think, the best executive team in the industry.
Overall, the goal is to continue sustainable growth across the business. At Hatched, that means getting the balance right between looking after our staff and existing clients as we expand.
Growth is definitely on the agenda for Hatched Sydney which opened in late 2022. With Catherine Edghill and Danni Dimitri leading the charge under Mike Wilson’s sage leadership, with Simon Porter and Adam Steward building out our unique offering that will assist retailers and suppliers alike manage the growth of the retail media space, there will be some exciting announcements coming soon.
See also: Hatched announces promotions and refreshes its leadership team
MW: What are your hopes for the industry in 2023?
JB: I hope the industry holds its nerve if times get tough. Undercutting each other to win business is unsustainable and a drain on the industry and the talent within it. Doing that only leads to murky business practices that undermine the significant value we bring to our clients and their businesses as trusted advisors.
I also hope to meet Sparrow for the first time at some stage this year and thank him for thinking of this unqualified agency battler from Melbourne for his list!
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Top image: Jack Byrne