Ad Agency CEO

A Funny Advertising Agency Lawyer Story

Peter · January 19, 2021 · Leave a Comment

Yes, The Often Dreaded Three Words “Advertising Agency Lawyer” Can Be Funny

I was speaking with an advertising agency client this morning and she told me that they just got off a call with their advertising agency lawyer and it appears that the agency, for competitive reasons, has to rename one of their in-house developed tech applications. It is an important app for their clients and it also represents real smart intellectual property for the agency. OK, this stuff happens. Plus, it reminded me of a funny conversation I had about trademark infringement.

Citrus Vs. Citrus + The Advertising Agency Lawyer

About fifteen years ago my Ralston360 Portland advertising agency bought the graphic design firm Citrus. We liked their name so much we took it as our own. Citrus the advertising agency was born.

I sold Citrus the agency in 2014. A couple of weeks after the deal closed, a close where the name Citrus was dissolved, I am sitting in my room at L.A.’s The Standard Hotel and I check my voice mail. An unknown lawyer says that I have to call him immediately about a serious company issue. So, I give him a call. [Read more…] about A Funny Advertising Agency Lawyer Story

Minimalist Business Development Plan

Peter · December 25, 2020 · 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 Richards Group And Your Advertising Agency

Peter · October 21, 2020 · 1 Comment

The Richards Group – A Teachable Moment

No, I am not going to comment on Stan Richard’s big mistake that had The Richards Group, the leading Dallas agency, quickly lose major accounts including Motel 6, Keurig Dr. Pepper, HEB, Motel 6, The Salvation Army, and The Home Depot. These are huge account losses that could destroy virtually any agency – in weeks.

But, What About Your Agency?

I was interviewed this week by ADWEEK’s Doug Zanger for my take on what the future might hold for The Richards Group. Specifically, what could they do to hold on to existing accounts and if and how they could find and land new business. I suggested that job #1 is for the agency to work hard to maintain the accounts they still have. Here is my quote:

What it might take to get back in the game

According to agency business development consultant Peter Levitan, the first step is to look inward.

“A part of business development that many agencies don’t understand or spend time and energy working on is growing existing accounts,” said Levitan. “In the case of The Richards Group, they have to save as many accounts as they can, and be totally upfront in dealing with the problem. There are sharks in the waters circling the accounts, so the pressure is on holding what remains.”

Your Agency – The Learning

I counsel my advertising and digital agency clients that the single best, and most efficient source of new business, read that as incremental profits, comes from existing client relationships. Why? Well, you already have the client in-house; you are well beyond the initial cost of pitching; you know their business; objectives, and opportunities inside and out; and, I assume that they love you.

Also, note that account retention is critical. In our land of doing specific projects vs. long-term agency of record relationships, it is imperative to be a client’s ideas and tech go-to leader. Keep the client’s marketing moving forward. Happy clients stay put.

This is clearly logical. However, I need to point out two recurring agency fails. One is complacency. You have the account, think that it will stay put and leadership moves their focus to landing that new account.

The other fail is the universal issue of not training agency account management. When I started in the business, I was trained in how to run accounts, how to communicate with clients, how to build long-term relationships, how to think of new ideas, how to present those ideas (and sell them)… Sadly, too many 2020 agencies do not stop to train their account managers. Believe me, the cost of losing an account is much higher than a few hours of training.

Back To The Richard’s Group

As I stated in ADWEEK, The Richard’s Group should, today, have a total focus on retaining the remaining clients. A well-trained account services team and involved media and creative departments should be having the right business-growth conversations and be perceived as brand builders. Agency staff will need to reinforce the reasons the client works with the agency in the first place and be looking future-forward. Client’s can be like lemmings willing to join others and jump off the cliff. While the team focuses on the future, agency management should allay any client concerns. Proactivity is critical. Split up the duties.

OK, one more …. the agency has to make sure that everyone is on message. “We are all sorry about what Stan Richards said and it does not reflect our agency culture”… and, on. Get on the same page and get on with business as usual.

How To Sell A Business

Peter · September 4, 2020 · Leave a Comment

Want To Know How To Sell A Business? Many Want To Do That Right Now.

I Wrote The Book: ‘How To Sell Your Advertising Agency. And, How To Buy One.” It Is Built For Anyone That Wants To Sell A Business.

I wrote the free, yes free, 57-page “How To Sell Your Advertising Agency” book so you will learn how to add significant value to your advertising, digital, and I mean it, whatever kind of company you have. Do you want the book? Just ask me or subscribe below or to the side. Yes, even free has its cost. But, hey, just do it.

How To Sell A Business & How To Buy One.

I bought and sold three advertising agencies. I also had two VC backed Internet startups. I get it. Here is a start for you – The Why and how of my buying an agency in 2002. The deal is to really know why you want to buy or sell and what you will do after the deal.

I will post about the other deals very soon.

Deal Number One – 2002. From New York To Oregon.

This deal had multiple objectives. I wanted to leverage my deep advertising and digital skills + buy a successful advertising agency + move out of the New York area to much greener, mellower pastures. The deal I was looking for would meet both business and personal needs.

I bought the Bend, Oregon advertising agency Ralston Group in 2002. At that time, I was living in New York and had left the position of CEO and founder of ActiveBuddy, a highflying Internet startup. We had raised over $30 million from VCs and individual investors and had patented natural language technology (earlier than SIRI) that we used to create the incredibly successful Instant Messenger Bot, SmarterChild. It ran on AOL, Microsoft and Yahoo. That was our “sample” Bot that had millions of followers because people liked to talk to a smart computer. The business goal was to create natural language Bots for brands and media. These Bots allowed people to talk directly with brands and information resources. Interestingly, our first paying technology customer was Warner Records’ hot band Radiohead. I could not have invented a cooler market entry.

Our company goal, like many other dotcom boom companies, was to sell the company to one of the majors. We in fact had deep negotiations with all when the dotcom dam burst. To make a long story very short, I did not get my “fuck you” money from a sale. Oh, don’t worry about me. I actually came out OK. Microsoft bought our technology.

After the dotcom bust debacle, I started to look for a company to buy. As an ex-Saatchi & Saatchi Advertising executive, owning an advertising agency was one of my options. I found Oregon’s Ralston Group though a classified ad in the Wall Street Journal – how 2002. Advertising in the WSJ was a smart move by Ralston Group’s owner. Here are the four main reasons I bought the agency.

The Ralston Group was a very smart and creative agency. Kevin, who would be my partner after I bought out the majority owner, was one of the best Creative Directors I had ever seen. The agency staff was also top notch. Without question equal to the talent I had worked with at Saatchi London.

The agency had a strong client list in Oregon and Idaho. Big community banks; major healthcare companies (hospital groups and Blue Cross); Sunriver Resort and Idaho Power and more. These clients came with recurring revenues. I knew that the addition of my Saatchi and digital startup background would help us grow.

The owner, who was looking to get on with her life after building the agency, was realistic in respect to agency valuation and – important to say – was easy to work with.

The agency was in the soon to be very famous Bend, Oregon. The idea of my wife and me raising our children near a ski mountain, rivers, fly fishing, mountain bike trails and, yes, even great restaurants and brewpubs, solidified the deal. We gladly gave up the usual two-month wait for a table at New York’s hottest new restaurant for 6,000 feet of fresh air.

Years later, I still view this as a very good business and personal deal.

Stay Tuned For More Stories On How To Buy Or Sell A Business. Plus More Expert M&A Podcast Interviews.

The next story will be about how I bought a design company that got me Nike as a major client. And after that one, how I sold my agency – and got lost in Mexico.

Oh, more… Here is a link to my podcast interview with a major M&A expert. You’ll hear how to sell – the details about how to do it that is.

Free Ten Point Advertising Agency Assessment

Peter · August 20, 2020 · Leave a Comment

Here Is Freebie Just For You: My Ten Point Advertising Agency Assessment

How is your advertising, digital, social media, PR agency doing? When I owned my Portland advertising & digital agency it was hard for me to tell how I stacked up vs. other agencies. As my friend Jon of Portland’s The Good, a conversion rate optimization consultancy, said on our recent podcast interview,

“It is hard to read the label from inside the jar.”

So, to help you, I am offering, for a limited time (true) a ten point advertising agency assessment. FYI, when I owned my own agency, I took all of the advice I could get. Even when I ran business development at Saatchi & Saatchi, I wanted third-party opinions and advice.

So, Why Offer An Advertising Agency Assessment – For Free?

If you work at an agency or in marketing, you know that making a high-value offer is usually a productive lead generation marketing tool. As part of my own marketing (side note, I practice what I preach) I am running a google PPC campaign that targets advertising agency leadership. Here is my ad agency leader offer landing page (it should at least be instructive as a look as my marketing). As I have often pointed out… this is a Corleone offer. It should not be refused. If you run an agency, go for it.

The offer is driving some incoming interest for my services at a time that many advertising agencies should be reevaluating their agency business and marketing plans. Right?

Levitan’s Ten Point Advertising Agency Assessment & Check-Up

This advertising agency assessment is based on my forever years of experience running major accounts and business development at Saatchi & Saatchi; CEO of two Internet start-ups; my own advertising agency and this business development consultancy. I have worked with dozens of agencies. I have seen what they look like from outside the jar.

Here are the ten points I will assess just for you:

Your business plan: How hard do you look at and possibly adjust your business plan? How will you generate maximum revenues and profits in our strange 2020? Do you make adjustments? Do you understand your Total Addressable Market (TAM)?
Your advertising agency positioning: This is a tough and hard look at your primary brand proposition. You can read about my general perspective on the value of a kick-ass positioning on this website.
Your 8-second website: This is probably one of the first ways that anyone sees your agency. How do your ranks vs. your competition? What do you say that will get me to pay attention in my 8-second look-see. In many cases, you only have around eight seconds to make me look at you and stick around vs. the other 3,999 advertising, digital, etc. agency websites that are screaming for attention. Here is my blog post about the Best Advertising Agency Websites.
Your business development plan and activity: How have you managed your plan over the past year? My whole blog of close to 800 blog posts discusses how you should market your agency.
Your outbound, account-based marketing: I’ll just ask you… you do this right? If, so, how?
Your social media activity and authority: Are you an active blogger, thought leader, podcaster? How do you look on LinkedIn; Twitter; YouTube; Instagram; and ae you a category leader? What do your stats tell you?
Your client list: How does your client list look to an outsider? Do one or two clients account for too high a percentage of your revenues? Do you know how to position your client list for business development?
Your intellectual property: Do you have any IP? Something that will differentiate and add sustainable value to your agency? You can do this. I know how to make this happen – efficiently.
Your ‘findable’ quotient: Can I find your advertising agency if I do a search for you? You should be everywhere I might search for you (your competition will probably be there)Yes, I have written about this.
Your creative vibe: Yes, clients have brought their marketing inhouse. It is easy. For example, just get some social media type folks to do the work. But, but, most inhouse client resources suck at being creative thinkers and doers. How does your creativity stack up and how do you prove it?

That’s It, Folks

If you need my educated third-party, very honest, no bull shit assessment… go for it. This is a limited time offer. Give me a shout.