Agency of the Future

Smart 2014 Advertising Quote From Mad Men

November 19, 2021 By Peter Leave a Comment

A Very Smart Advertising Quote From Mad Men

I originally wrote this blog post in 2013 – a year that I published 189 blog posts (a year that my consultancy started to boom). This “Smart 2014 Advertising Quote From Mad Men” post had a brilliant message from Don Draper to all advertising agencies:

The day you sign a client is the day you start losing them.

This total factoid about losing clients is why advertising agency new business has to be 24 / 7 / 365. Only the relentless win. Sleep and you will close your doors. I couldn’t come up with a better ad for my business development consultancy. A few dozen + clients after 2013 and I will hammer this point – Only the way actively unignorable win at business development and agency growth.

I highly recommend that you peruse my over 800 blog posts on how to grow your advertising agency. And how to run your business development program 24/7. Here is my list just for you. It is Don Draper approved.

How To Use LinkedIn And Account Based Marketing

March 22, 2021 By Peter Leave a Comment

How To Write About LinkedIn And Account Based Marketing In Five Minutes

If you have perused my Big Advertising Agency Resources List, then you’ve learned of a range of resources designed to help grow your advertising agency. Today I am offering a new resource that helped me quickly write this blog post about LinkedIn and Account Based Marketing.

AI-Writer is, you guessed it, an AI tool to help you write the zillions of content pieces that will help you to keep up with the never-ending barrage of other people’s content. Type in a subject, or even the title of a competitor’s well-read blog post and voila…. you have an instant blog post/content piece that you can publish just like this one below about LinkedIn and Account Based Marketing.

AI-Writer To The Rescue

As with marketing itself, it is essential to remember that Account Based Marketing is not a one-size-fits-all solution. It has to adapt to the needs and profile of each customer through individual interviews, programmatic ABM, targeted approaches, and much more. Approaches for different account levels should be aligned in such a way that they range from strategic ABM to true-to-scale ABCM to programmatic ABCM, with the degree of personalization varying at each level. ^{Sources: 8}

LinkedIn is a great place to start your ABM efforts, as LinkedIn users are prepared to discuss and grow their businesses. An account-based marketing strategy from LinkedIn can be executed with many of the native tools that LinkedIn offers. ABM on LinkedIn starts with the ability to search and find specific, relevant accounts. ^{Sources: 1}

This function only works with a limited amount of data. LinkedIn Sales Navigator helps you conduct account-based marketing campaigns on LinkedIn by selecting and evaluating target accounts. It provides a detailed overview of the willingness to buy of your target accounts. This information is integrated with company profile information to evaluate opportunities and prioritize them for the next targeting strategies. ^{Sources: 9}

LinkedIn for Account-Based Marketing (ABM) has proven to be an effective method for marketers to generate high-quality leads and sales. Over 41% consider account-based marketing to be the top B2B priority for sales. Instead of casting a wide net, ABM is a focused approach aimed at the people you want to turn into customers. ^{Sources: 6}

After identifying at least 300 accounts on LinkedIn, you can start targeting segments with paid advertising. LinkedIn allows marketers to import target lists from their platforms into paid advertising and take steps to match the information you provide with the actual accounts on the platform. ^{Sources: 0}

Ads work best for B2B companies that want to target specific companies and individuals within those companies. Since the LinkedIn audience consists of business people, it makes sense to use the platform to reach out to company-specific decision-makers. ^{Sources: 2}

You will also want to use LinkedIn messaging ads if you expect to have a big impact. We recommend that you use InMail ads for special offers and send them to users who are already connected with your company. ^{Sources: 2} [Read more…] about How To Use LinkedIn And Account Based Marketing

The Advertising Agency Website Walrus Style

December 3, 2020 By Peter Leave a Comment

An EY Podcast Just Asked Me “What Is Missing From The Advertising Industry Today.” I Said Creativity. Ya Know, Ideas That Grab Attention And Move People. I See This Missing Link Also Running Rampant In The Advertising Agency Website Ocean. Then I Found Walrus.

I am feeling ranty these days. And, have this particular rant that I often repeat to my agency clients… GET UNIGNORABLE. The amount of sameness in the world of the advertising agency website world is numbing. This is a bad thing since prospective clients do most of their agency selection before they ever pick up the phone.

Welcome To The Walrus Advertising Agency Website.

Since New York’s award-winning agency (important awards) walks the creative talk and is in fact unignorable… I’ll just go fast here.

So, what works for Walrus?

What you first read when you look them up – as in their Google snippet = “World famous creative shop located in Union Square New York City. Where clients go to get rich, ideas go to get famous, and bivalves go to get devoured.” Different + benefit-driven and what other agency mentions clams?
The Home Page has a talking Walrus. Cute. It works as a branding element and a very fast way to get you to ask, WTF?
Need more info? The social-style information links on the bottom of the page take you to the Walrus Facebook, Twitter, Instagram, Medium accounts, and an email thingy. Walrus does not need the endless number of website pages to tell you who they are.
Walrus is all about the work. Human, funny and, oh so not data-crazed, yadda yadda sameness… the advertising you see for brands that most other agencies world kill for is smart. Did I say funny? Like Walrus’ ads get a viewer to stop and watch, listen absorb. These ‘ads’ will also get the attention of the right clients. It’s kinda good for agencies to know what type of clients they want.

The Unignorable Walrus Thing.

The Walrus vibe is cool and interesting and, repeating myself, gets the attention of the right client. I am thinking that this means a client looking for strategic / creative brains.

I am not alone in preaching that advertising, digital PR, you name it agencies, need to get a bit specialist to make it in 2021. I talk about ad agency positionings here. I also say that trying to be known as a ‘creative’ agency isn’t easy. Creativity is very subjective. That said, the right client for Walrus will find them and will dig the creativity and want some of that. It is called mating. Mating requires a bit of unignorability.

OK, OK, I Know You Want To Know How Walrus’ Mate.

I had to find out. So, I went to How Stuff Works. Here you go…

The remaining females congregate on the ice pack and prepare to be entertained by the males in the water. One or two males generally perform for each congregation of roughly 23 females — presenting a series of vocalizations both above and below water. Here, the males’ pharyngeal muscles (near the throat) come in handy both as flotation devices and as amplifiers. The males simply inflate the pouches to remain upright in the water and begin to serenade.

If you woulld like to see another unignorable advertising agency website (from 2011), check out how BooneOakly used YouTube.

Oh, did this work? 1,372,449 views so far.

A New Business Plan For An Advertising Agency

October 15, 2020 By Peter Leave a Comment

An Advertising Agency Business Plan Thought Starter.

Ten years ago I was the owner and CEO of Citrus, a Portland and Bend Oregon advertising and digital agency. Just so you get the picture, our clients included AOR work for Nike; the Montana Lottery; Harrah’s; Providence Health & Services (5 states), and lots more. As you will see below, I knew that we needed to change our approach to the business. We needed a new advertising agency business plan. A radical shift from what was starting to look like a way too traditional advertising agency business model. My team and I looked at different approaches and ultimately, I determined that I (that means me) did not want to make the required revisions. At that point, I decided to craft the agency for sale. I wrote about how I sold the agency in my 57-page PDF, “How To Sell An Advertising Agency.” Links to it are on this page.

2020. Is It Time For You To Invent A New Business Plan?

I talk to lots of advertising agencies. Many are looking very hard at how to reinvent their agency. This is driven by ongoing factors like waves of recessions; clients asking for more and more for less money; lower profits; unhappy and overworked staff and, of course, the results of the pandemic. I talked yesterday with a New York agency buddy that is shutting down his office, asking his landlord for rent concessions, and will go full-time virtual. He is not alone. Again, in many cases, the need for a new business plan is being forced on agency leaders. Being forced is OK. Not changing is not OK.

Back to my past as one model for the future.

10/12/10: Twas Time For A New Business Plan

Before I sold my Portland agency, I spent some time thinking through what a new, an evolutionary, a smarter, competitive, and higher profit advertising agency business plan might look like. Simply put, how could we make more money? This is what I was thinking a few years ago.

I think that my thought process at that time might help you think hard about your agency’s business plan.

A bit of background. Citrus was a successful Northwest agency. We had offices in Portland and Bend, Oregon. Our clients included Nike (we were an AOR agency for major league baseball and college sports); Oregon State Football, Harrah’s Las Vegas; Wildhorse (a large Oregon casino); the Montana Lottery; LegalZoom; a couple of major west coast banks and Providence Health and Services (a multi-state hospital and healthcare company) and a range of leisure accounts.

Background

I bought the majority share of Oregon’s full-service advertising agency Ralston Group in 2002. I had just left being CEO of ActiveBuddy, a serious natural language company that proceeded Siri and Alexa. It was time for me to get out of New York and get some fresh air. Over the course of the next 8 years, we bought Portland’s Citrus, renamed the agency, and grew our account base across the USA.

However, by 2008, after the horrible recession, clients driving down profits, the increase of workload from digital and social media, the increasing cost of running a marketing company (ala healthcare costs), I decided that we had to either reinvent the agency or I’d move on.

The Birth Of “Portland”

Ok, what should we do? I needed to reinvent the agency via a new advertising agency business plan to be more competitive; leaner; more nimble; lower cost; and NEW. As in, new and improved to get the attention of more of the high-profit clients we wanted.

Here is the document, the 2010 think-piece that I used to help guide me. I hope you find it, um, maybe inspiring.

My 2010 Plan – A New Agency Model: Food-For-Thought For Your Agency

Citrus needs to change.

The agency industry (especially full-service agencies) knows it must explore new business models. The old 15% commission + 16.5% mark-up is so long gone. Plus, we know that finding a way for clients to pay up for “big ideas” is difficult.

Within this context, clients are confronted by fast-paced changes, are skittish and are understaffed. Media options have grown exponentially, clients are asking for program metrics, they need smart digital solutions, can’t figure out how to manage integration and do not fully understand social marketing. They still want big ideas but want all of this for less. All of this is compounded by the view that “agencies” are costly and inefficient. Many prospects don’t even want to take our calls.

To further compound the issues, a sea of agency industry sameness and lack of clear brand and service differentiation confronts us. It is very difficult for small full-service agencies to stand out from the crowd. Defining a unique and focused agency brand for a non-specialist agency isn’t easy.

Citrus shares these issues and at present does not have a clear and compelling brand story. We have our “Move” positioning but we need to express this beyond just words.

There must be a new way.

An idea…Move To Small + Smart.

In my mind, a Small + Smart Citrus is the smartest customized agency in the world.

An Advertising Agency Survival Guide

June 17, 2020 By Peter 3 Comments

My Advertising Agency Survival Guide. 2020 Version.

I am republishing this April Advertising agency survival guide blog post. Why? The Association of National Advertisers, the ANA, is going to pass it along to their membership. So, I figure why not try to make sure that you as an advertising agency has a chance to see it or better, re-read it.

Frankly, I thought that there has been too much “what to do about the Covid-19 pandemic and the future of the advertising agency”… But, I think that this is a good summary that has stood the test of time.

Tough Question. Will Your Advertising Agency Survive?

Here is my educated take on which advertising agencies will survive and how they will make it happen. It is my advertising agency survival guide.

Having gone through the 2007 – 2008 recession as an agency owner, I saw approximately one-third of advertising agencies fail or shrivel. My current survival advice is based on watching that storm as well as recent deep conversations with small and medium-sized agencies. I did not choose to rush out my thoughts. I actually thought about my thoughts. LOL.

Plus, this is not short and sweet. You will actually have to read all of it. OK, it is sweet.

Quickie… I am giving away my 30 years of huge and small agency experience, guidance and coaching for free – for awhile – the right thing to do. If you want smart advice, go here. It will open a new window for this offer.

Two Quick & Very Important Points.

How long will the shit-storm last?

Like you, I have no clue when any semblance of normality will return. I have to assume it will. Plan accordingly.

Chamath Palihapitiya is one of my most respected “advisors”. He has said that companies should be able to adjust and make new plans to survive 36 months. 36! Yes.

He says, think like this is another depression. Whoa. Are you ready?

This is what I do know… If you want to be in the top 1/3, you can’t lose all or even some marketing energy or brand awareness. Why make your voyage back too uphill?

You will get my marketing recommendations below. But first, the big question.

Will Your Advertising Agency Fail?

Here is what an advertising agency principle should be doing right now. I admit that this is generalized given the diversity of the types of advertising agencies. But generalized does not mean its not an effective how-to for virtually any agency.

Two Definitions

“Advertising Agency”: This is my universal term for most types of communications marketing firms.
“Client”: A client is a company that has consistently used any form of advertising or digital marketing. In your case, it is a client that meets your target criteria (you have that, right) and you think would want to hire you. Sorry, Nike and Adidas do not want to hire you.

OK, Advertising Agency… What Are You Going To Do About it?

I am going to be tough here. At least 30% of advertising agencies will fail in the next twelve to eighteen months.

This post provides my take on how to survive, my advertising agency survival guide. For the winners, how to set yourself up for growth.

6 Advertising Agency Pain Points – I Know You Know This. But, It Is Worth Restating.

Your current and future clients are freaked out.
Some current clients have already reduced or canceled advertising and project spend.
Agency profitability sucks.
You will be too slow to manage your costs.
Agencies, too many, are already poorly positioned, and, worse, are unbelievably ignorable.
Prospective clients “probably” do not want to hear from you.

Advertising Agency Survival Guide Strategies

I know what I am talking about. I’ve won and lost. My advertising agency survived the 2007-2008 recession. My $30 million VC funded digital business did not survive the 2001 dot-com bust. Don’t feel bad for me, Microsoft eventually bought our technology.