Peter Levitan & Co.
The New Business of Advertising
I’ve written about the potential of chatbots as an advertising agency revenue and new business source. Read about it here on HubSpot and here on my blog.
If you have any reason to think that chatbots are NOT going to be a major part of the digital world & your marketing, listen to the leaders of Facebook, Microsoft and Google on what they are up to.
Check out my article
My article offers three big takeaways (I mean immediately actionable takeaways) for your ad agency and its new business program:
On the subject of reach… after only a couple of hours, my post was shared lots. See….
Last point. Here is the video ActiveBuddy made 14 years ago to launch our company. You’ll see that I thought bots were a big fucking idea then. I still do.
I started blogging in the early 2000s. I really cranked it up after I sold my advertising agency and became an advertising agency business development consultant. Below is a list of my blog posts. The subject matter of these hundreds of blog posts reflects my dedication to having an optimized search engine blog strategy. It worked.I am going to keep this easy. I could ramble on but these are the core elements of my blog strategy.
Avi Dan followed me as the guy running Saatchi & Saatchi Advertising Worldwide’s business development program (and, I think did a better job than me as by the end of my tenure all I could think about was the growing Internet space). Avi just wrote the following article on LinkedIn about the subject of the good, bad, and ugly advertising agency pitch. I thought that I’d respond a bit to his thinking because I wrote the New York Times best-selling book on how to run the world’s most powerful, new business-delivering ad agency pitch.
From Avi’s bio… “Avi Dan is a columnist for Forbes, a former CEO and board member of 3 major agencies, and a highly regarded agency pitch consultant. By his own estimate, he has been involved in over 200 pitches in the past 30 years.”
In 2019, the year right before Covid, a Morgan Stanley analyst had reported that a record $35 Billion of advertising spending was up for review. That was almost more money hanging in the balance than the amount under review during the previous two years, combined. With the economy picking up now, advertisers are, once again, rethinking their agency relationships. Ad Age had recently reported that one-third of all advertisers stated that, they plan to put their business into a pitch.
Peter: One-third? Crazy. This really can only mean one of two things. Either advertising agencies are doing a shit job or clients have no clue what they really want from their agency. A smart client should be able to get smart thinking and service out of their own — current — agency. I have been an agency owner and a client. Good clients know how to manage their agencies. Well, most. It is absurd that one-third should think they have a failing relationship. Too high.
Q: Why do you think there are so many reviews lately?
A: If those numbers tell you anything, it’s that, advertisers aren’t happy with their agencies, even the good ones. For example, Wieden had lost KFC and Droga5 had recently lost IHOP. Marketing is much more complex these days, and very few agencies are capable of evolving fast enough to keep up with the needs of their client. What’s surprising isn’t that so much is in review, but, that it didn’t happen sooner.
Peter: Avi says… “very few agencies are capable of evolving fast enough.” OK, possibly true for many. But not Droga5 and Wieden. These best-of-class agencies are just too good, big and well-managed. So, I’ll point to clients as a failure point. By the way, how can anyone be expected to dramatically increase pancake and waffle sales during a pandemic?
Q: How are pitches different now?
A: The briefs for pitches that we see coming through to us now, are more transformational. Clients are deep into the digital transformation, and so is the consumer and the media. Technology, cloud services, eCommerce, data, and virtual CX are becoming critical issues for the enterprise.
Peter: The marketing world has been way about the idea of digital transformational since I left Saatchi in 1995 to put major newspapers online (and invent website advertising – yes, I did that) or in 2000 when my company Activebuddy invented interactive chatbots including SmarterChild and commercial bots for clients like Radiohead. Is Avi saying that the zillions of agency people that live and breath digital do not understand transformation? Could they be worse at it than a marketing director at IHOP? Side note. I have been a consultant in a few advertising agency pitches lately and every agency talks transformation or related subjects. How could they not?
Q: You are very critical of the pitch process. Why? [Read more…] about The Perfect Advertising Agency Pitch
OK. It’s 2021 and what a wonderful two years it has been. As we step outside we, that’s you ad agency leaders, are thinking… huh, shouldn’t we do something cool for our clients? Like, deliver a bit of ad agency Christmas giving. But, um, no, do not do that. So in honor of my magical anti-gifting thought and advice, I offer MY annual Christmas rant (or better yet, a strategic approach to giving).
It is the time that many an ad agency decides that it is a great time of year to add to the upcoming ad agency Christmas giving clutter. Am I being Grinch-like? You bet.
Does your ad agency send out Christmas cards or gifts or online trinkets to clients — even prospects? I call this practice stupid silly. Strong words? Sure. but, why am I saying this?
Look, I have nothing against season’s greetings. But, after working at a couple of agencies (including my own) and watching dozens/hundreds of agencies send out very “creative” Christmas (Chanukah, Kwanza, etc.) cards and gifts during the late-December season, I have to say this is very ill-timed even highly-inefficient outreach. It is wasteful in three critical ways: [Read more…] about The Idiocy Of Ad Agency Christmas Giving