Search Results for: business development

Minimalist Business Development Plan

December 25, 2020 By Peter 1 Comment

How To Build Your Minimalist Business Development Plan

When I write what I call a minimalist business development plan for an advertising, digital agency client I split the plan’s deliverables into two documents. One is a comprehensive 360-degree look at my client’s business objectives, current market position, brand positioning and attributes, target market pain-points, existing biz dev plan, and a range of tailored inbound and outbound, i.e. account-based marketing approaches.

After we review the master plan document, I create a more simplified two-phase plan that is designed so that it actually gets implemented. I say actually gets implemented because many, too many, marketing communications companies do not run the business development plan they have. I have seen this at mega agencies and two-person shops. My two-phase plan, yes a minimalist business development plan, is designed to focus on a small set of marketing programs, to be highly efficient, and to be built on a clear process.

My minimalist business development mantra is KISS (keep it simple stupid) + focus on a small number of core marketing programs + be efficient + make sure that whatever you say (an agency’s positioning, sales proposition, and marketing messages) is UNIGORABLE.

OK, one more. Agency management must be dedicated to running the business development program. 24/7. Dedication to agency growth must come from the top.

8 Smart Elements Of A Minimalist Business Development Program

The Smartest Advertising Executive and Business Development Consultant

August 26, 2020 By Peter Leave a Comment

Michael Keeshan was the smartest advertising executive in the room. I know, I worked with him when he was President and COO of Saatchi & Saatchi Advertising New York and the Chief Strategic Officer of Saatchi & Saatchi Worldwide. If you are wondering, he was smart like an Einstein.

He also counseled major advertisers including AT&T and Novartis to pick their advertising agencies. His MagikBox search consultancy rocked.

Here is my interview with Michael about advertising agency business development and advertising agency search consultants and the pitch experience. Over his years in advertising, Michel worked on both sides of the agency/client table. As you will see, Michael was one of the smartest advertising executive dudes.

This entertaining and informative interview covers how advertising, digital, PR agencies, you name it, should manage their business development process and pitches and presentations. I did this interview in 2006. Believe me… Michael’s cogent advice is even more relevant in today’s highly competitive advertising universe.

I have many other interviews with advertising agency search consultants in my book on presenting and pitching for new ad accounts. Just go here to win more pitches… There have been thousands of happy, richer readers.

Links To Other Super Smart Past Advertising and Marketing Interviews.

Cathy Taylor of ADWEEK. Hear about one of the great social media fails… C/O Chevrolet Tahoe. It was an early screw up that was very prophetic as we all moved on into more social media.

Rob Walch of Libsyn.

Hypnotism coming: Remember to subscribe to Advertising Stories. Remember to subscribe to Advertising Stories. Remember to subscribe.

A nice thing for me… Feedspot has recognized Advertising Stories as being a top 15 advertising podcast.

Is Your Advertising Agency Business Development Director Doomed?

June 29, 2020 By Peter Leave a Comment

Yes, Your Advertising Agency Business Development Director Might Be Doomed. A 2020 Update.

The interview below was done in 2014. It remains 100% right on.

Some updated thinking. I am asked on a high-frequency basis by agency management, that means CEO types, if their advertising agency should have a business development director. Because of this question, I thought I’d update this evergreen interview with Brooks Gilley who knows what’s up.

My current thinking based on talking with many agencies is that, at best, only 50% of advertising agency business development directors succeed. I am about to do some haranguing. Why?

As is pointed out below, most advertising agencies have a low to a non-competitive brand position. The degree of positioning sameness – “we are a digital agency” or “we are creative thinkers” – and messaging sameness – as in no soul or a distinctive opinion or having the goal of being unignorable – is crazy. How could even a competent business director sell the 50% of agencies that cannot define a strong sales proposition? Or not have a well-considered target market?
A huge chunk of agencies (it has been reported that up to 75% of agencies) do not have a master business development plan, think of it as a sales plan. How is this possible? And, worse, who is supposed to write the plan? I do not think that a business development director alone can write this plan. It should be an agency self-preservation and growth project.
Many advertising agency leaders have little experience in writing a sales manager compensation plan. Here is a compensation plan you can use.
Too many agency leaders hand off the role of business development to the director. I owned my own agency and I devoted at least half of my time to business development. And, I provided daily support and thinking and budget.

Give me a shout if you want to discuss your agency and its specifics.

Back To The Interview About The Doomed Business Development Director.

To quote the Beach Boys… Wouldn’t It Be Nice. Yes, wouldn’t it be nice to have a business development director that brought in more business for your advertising agency than you can handle? But is your business development director doomed from the start?

She or he could be if you do not have agency objectives, a competitive agency brand positioning, something to sell beyond, “Hey we are a full-service/digital/social media agency”. Or, not having a list of clients and categories you want to nail; an active up-to-date CRM system or you are now in a state of panic because you just lost your largest client.

I know that this is a tough job to fill and do. I managed my agency’s business development director at my own ad agency; for Saatchi & Saatchi Advertising in New York and London and as CEO at two Internet start-ups. I have hired ten business development directors over the past twenty years. Some worked out and some, well, not so well. Again, this is one of, if not the toughest, agency jobs to position for success.

But, don’t take my word for it. Before you read on for an expert interview, you might also want to go to my blog post on how to pay an agency business development director.

An Expert Interview With Brooks Gilley On How To Hire A Business Development Director.

Brooks Gilley is the Founder and CEO of Portland’s 52 Limited. 52 LTD is a 15-year-old creative resource company that connects world-class talent with leading brands, marketing departments, design firms, advertising and digital agencies.

In addition to running one of the west coast’s leading creative talent agencies, Brooks ran the Portland Advertising Federation and worked at advertising agencies.

Peter: According to the RSW/US 2014 RSW/US Agency-Marketer Business Report, the tenure of agency business development directors was two years or less. ADWEEK reports that people in this position at large agencies last less than one year. Is this surprising to you?

Brooks: It’s not surprising at all, largely for the fact that agencies I have worked with on business development director searches come to us in a moment of panic, and that’s usually where the ask starts. It’s a role that is needed now but was probably needed at least twelve months before new business gains became an issue. Additionally, it’s not necessarily a strategic role that is esteemed at and supported within a ‘creative’ organization. [Read more…] about Is Your Advertising Agency Business Development Director Doomed?

The Secrets of Advertising Agency Business Development

November 12, 2019 By Peter 1 Comment

The Not So Secrets of Advertising Agency Business Development

Do you think that advertising agency business development is hard? Try getting featured on Spotify or on stage at Coachella or Carnegie Hall.

OK, so how do you get to Carnegie Hall? Well, you know the answer: Practice, Practice, Practice.

That really means having objectives, strategies, executions, assigned roles, timetables and analysis. In other words, a plan.

Back to practice because business development is a skill set that gets better over time.

The 10,000-Hour Rule

Here is a definition from Wikipedia of the 10,00-Hour rule as discussed in Malcolm Gladwell’s book, Outliers.

A common theme that appears throughout Outliers is the “10,000-Hour Rule”, based on a study by Anders Ericsson. Gladwell claims that greatness requires enormous time, using the source of The Beatles’ musical talents and Gates’ computer savvy as examples.

The Beatles performed live in Hamburg, Germany over 1,200 times from 1960 to 1964, amassing more than 10,000 hours of playing time, therefore meeting the 10,000-Hour Rule. Gladwell asserts that all of the time The Beatles spent performing shaped their talent and quotes Beatles’ biographer Phillip Norman as saying, “So by the time they returned to England from Hamburg, Germany, ‘they sounded like no one else. It was the making of them.’

Gates met the 10,000-Hour Rule when he gained access to a high school computer in 1968 at the age of 13, and spent 10,000 hours programming on it.

Is Your Advertising Agency Willing To Work (Hard) At Business Development?

If it isn’t, it will fail.

Try This Agency Road Map

Have a master business plan that is reviewed at least annually. The marketing environment, especially in advertising, is changing on a monthly basis. Know how you will make the big bucks and plan for it.
Have clear business development objectives. Not, “I want to work with Nike or Google.” Be real.
Have an in and outbound marketing plan. It must be an easy plan to follow and run – or you will join the 60% of advertising agencies that do not run their plan.
Your plan must be smart but not too complicated. Process rules here.
Be slavish to your agency’s brand positioning. Make it something clients want.
Have a business development leader that is 100% responsible for making sure the Biz Plan runs like clockwork. I suggest that for at least the first 6 months that it be the CEO or COO. She is a feet-to-the-fire person. If the top person isn’t committed to putting agency time and assets towards business development 24/7 – fuhgeddaboudit.
Biz Dev has to become part of agency culture. And, yes, it can be fun, too. Winning business because your plan is working is super fun.
Biz Dev must a job on your daily project list like every client job. You are your agency’s client. If you don’t support the program, then what you do for paying clients will not matter when you shut down.
If you have a dedicated (or part-time, for that matter) aim her or him at the sales target. Here is how to manage that process.
This is a pan-agency challenge. Distribute the workload to responsible people in the agency. Make it part of their compensation plan. If they don’t do their part – they are not rewarded for their client work. They are not going get a large bonus.
Be everywhere your future client looks for new agencies. This includes agency lists, directories, in web searches, award shows, etc. Where would you look for an advertising agency? Are you there?
Have a marketing calendar and be slavish to it.
And… Whatever you do, make sure it’s Unignorable. Boring sucks.

Go do it. From Mario Andretti: “If everything seems under control, you’re just not going fast enough.”

Don’t Go! Yet…

I have over 600 blog posts dedicated to you and your agency’s business development success. Check them out right here.

If you are in a hurry… email me – peter@peterlevitan.com

How To Outsource Linkedin Business Development

June 27, 2019 By Peter 1 Comment

Is It Time To Outsource Your Advertising Agency’s LinkedIn Marketing?

Advertising agencies often ask me if I can help them outsource their business development operations. This happens with such frequency that I thought I’d occasionally point to a quality third-party resource. Here is a company that can help you outsource your Linkedin marketing.

Lead Cookie & Linkedin Leads

I recently spoke with Isaac Marsh of Lead Cookie which bills itself on its website as…

Lead Cookie is a done-for-you LinkedIn Lead Generation service. We manage your profile for you and help you generate leads on LinkedIn.

We manage your Linkedin profile and start warm conversations between you and your ideal customers.

On average our customers book 3-8 qualified calls per month as a result of our service.

Simply put, Lead Cookie provides an outreach service that can manage your advertising agency’s LinkedIn marketing program. The service is designed to make new-targeted contacts for your agency that result in quality leads.

How It Works

A Lead Cookie strategist works with you to hone your positioning and messaging and helps you create customized messaging.

Lead Cookie manages your LinkedIn profile and sends out connection requests to your targeted prospective clients.

They manage the connection, make an intelligent introduction and ask to connect. This leads to asking for a meeting, and if necessary, will create a drip sales sequence to keep the conversation moving along.

Goal: hand off the connection, the new business lead, to the advertising agency.

For a more detailed explanation of Lead Cookie’s system, head over to its founder’s how-to market B2B business on Linkedin guide.

I recommend that you also explore Lead Cookie’s resources page (you will get much smarter about how to use LinkedIn as a prospecting tool even before you give Lead Cookie a call).

If you are wondering if I have a business relationship with Lead Cookie, I do not. But, I have a goal of helping agencies grow and find ways to manage the hard task of 24/7 business development.

Why Do This? Sorry, Your Advertising Agency Will Get Fired.

Many advertising agencies tell me that they are too busy to run a 24/7 business development program. Excuses include:

We are too busy with current clients

We really do not have a plan;

We are poor at execution

We just let our biz dev director go

It is very difficult to keep up with the ongoing changes in social media platforms

Sorry guys, there is absolutely no good reason, or excuse, for not to running an active business development program.

I wrote about the need for business development in this article: Your Advertising Agency Will get Fired.

Simply put, clients will walk out the back door. You need new ones to continuously run in the front door.

Outsourcing some of your biz dev work to a quality provider makes sense.

Find the right resource and give it a go. Why not start here: outsource Linkedin marketing.

Here Is A Self-Serving Message:

Speaking of outsourcing. Give me a shout and we can discuss your agency’s business development program. I’ll give you a smart idea in 15 minutes. I have worked with over one hundred agencies to help them grow and prosper and smile. Take me up on my Vito Corleone offer.