Agency of the Future

Me As A Sherpa Guide

Peter · February 16, 2023 · Leave a Comment

SHERPA The Book Is Almost There

I chose the title SHERPA for my upcoming book because it will soon be the ultimate guide to building and running a kick-ass advertising agency.

I just asked ChatGPT for a definition of Sherpa:

“A Sherpa is a member of an ethnic group of people who primarily live in the Himalayas of Nepal. They are known for their expertise in mountaineering and guiding climbers and trekkers through the mountainous terrain of the region. Sherpas are often employed as guides, porters, and helpers by mountaineering expeditions seeking to climb the many peaks in the region, including Mount Everest, the highest mountain in the world.

The term “Sherpa” has also come to be used more broadly to refer to anyone who serves as a guide or assistant, particularly in a cultural or social context. For example, in business or politics, a “sherpa” may be someone who helps to guide or facilitate negotiations or decision-making processes.”

I’ve guided before via “The Levitan Pitch”.

Yes, I Know.

Calling the book SHERPA and by relationship, me as a sherpa guide might be a bit much. But, hey, it is my book. Stay tuned.

Solo Design Agency Makes More Money Than Ad Agencies

Peter · February 10, 2023 · Leave a Comment

This Solo Design Agency Kicks Ass

The design agency Designjoy, a solo practitioner, has a much higher profit margin than most agencies. A lesson for advertising agencies follows.

I am writing a new book about how to build and run a kick-ass advertising agency. An important chapter discusses how an advertising agency can productize its services. To, yes, make more money at a much higher profit margin. Lots of ideas. But, here is a big one.

A Bold Productization Idea… Subscriptions

The design agency Designjoy offers design as a subscription. A design product. Billing starts at $4,995/m.

This one-man shop has reported annual recurring revenues of over $1.5 million. From Brett Williams’s LinkedIn profile:

Designjoy is a one-person premium design service currently serving 40+ clients with a + $1.5M ARR. One guy.

On his website:

A design agency with a twist.

Apps, websites, logos & more.

From his FAQ:

“Why wouldn’t I just hire a full-time designer?

Good question! For starters, the annual cost of a full-time senior-level designer now exceeds $100,000, plus benefits (and good luck finding one available). Aside from that, you may not always have enough work to keep them busy at all times, so you’re stuck paying for time you aren’t able to utilize.

With the monthly plan, you can pause and resume your subscription as often as you need to ensure you’re only paying your designer when you have work available for them.”

Big + Big Design Agency Numbers

Brett’s solo Instagram has over 74K Followers. 35K Followers on Twitter. The mega-agency VMLY&R has 57K followers and, get this, 16K employees.

Now the very serious stuff. From a 2023 Tweet at @designjoy:

“Just started tracking my spending habits and budgeting. Designjoy now costs less than $400/m to run. That’s it. That’s my overhead. And half of that is a Shutterstock subscription. Agencies are doing it all wrong.”

Yikes.

Wait. Wait. There’s More $.

You can now dive into Brett’s Productize Yourself course for $99. Of course, you should sign up your design agency, or any agency for that matter, for his productized course.

Will AI Kill The Advertising Biz?

Peter · December 9, 2022 · Leave a Comment

Will AI Kill Advertising?

I asked ChatGPT… “Will AI Kill The Advertising Biz?”. Here is the answer:

“It is difficult to predict the future of the advertising industry with certainty, but it is likely that the industry will continue to evolve and adapt to new technologies, including AI tools. AI has the potential to greatly improve the efficiency and effectiveness of many advertising and marketing tasks, such as targeting and personalized messaging. However, it is also important for the industry to consider the ethical implications of using AI and ensure that its use is transparent and respects the privacy and rights of consumers. Overall, it seems likely that the advertising industry will continue to exist and play a significant role in the economy, but it may look very different in the future as a result of the adoption of AI and other new technologies.”

OK, not feeling so bad.

Next Question

So then asked about my consultancy…

“Yes, there is a future for advertising agency business development consultants. As the advertising industry continues to evolve and become more competitive, agencies will need expert guidance on how to grow and expand their business. Business development consultants can provide valuable insights and strategies for increasing revenue, attracting new clients, and positioning the agency for success in a crowded market.”

OK, not feeing bad too.

Good Jasper AI Blog Post?

Peter · November 15, 2022 · Leave a Comment

My Jasper AI Blog Post…

Yesterday I wrote ‘Advertising Agency Recruitment and Culture’ using the Jasper AI blog post app — Well, about 70% of my post was Jasper and the other parts, the details, were from my non-AI brain. Read it. It is rather smart.

Today I went to Jasper to write about using Jasper AI for blog posting – again. My Jasper headline input: Should I Use Jasper To Write A Blog Post?

This is What I Got. Weird…

2 paragraphs.

#1: “No, you definitely should not use Jasper to write your next blog post. Unless of course, you want it to be full of boring, run-on sentences that go nowhere. In that case, by all means, use Jasper.
But if you’re looking for a tool that can help you write content that is both engaging and effective, then you should definitely check out tools like CoSchedule or WordStream. With these tools at your disposal, writing great blog posts is easy! So why not give them a try? You won’t be disappointed.”

Need a bit of contradiction?

#2: “Are you considering using Jasper to write your next blog post? You should be! Jasper is an AI-powered content creation platform that can help you create high-quality content in minutes. With Jasper, you can quickly and easily generate engaging, informative content that will grab your audience’s attention. So what are you waiting for? Start writing with Jasper today!”

I will come back to the Jasper blog post tool. But, right now I am a bit confused.

Advertising Agency Recruiting and Culture

Peter · November 13, 2022 · Leave a Comment

Corporate Culture Drives Effective Advertising Agency Recruiting

If you’re a CEO/COO/General Manager/Boss or Whatever Leader Title you got… you know that one of the most important things to a company’s success is attracting and retaining top talent. In the marketing and advertising agency world, this is CRITICAL. To do this in 2022, you need to have a corporate culture that prospective employees will want to be a part of.

First. What Is Corporate Culture?

Corporate culture is the set of values, beliefs, behaviors, and attitudes that characterize a company and its employees. It’s what makes a company unique and is reflected in everything from the way employees interact with each other to the company’s core values and mission statement.

A strong corporate culture can be the difference between a company that is able to attract and retain top talent and one that is not. This is especially true in the case of Gen X and millennials, who place a high value on finding a job with a company that shares their values

Define Your Agency Culture to Drive Advertising Agency Recruiting.

Three reasons why having a human-oriented culture will deliver success.

It attracts top talent: As we noted before, corporate culture can be the deciding factor for candidates who are trying to choose between two similar job offers. If Company A has a corporate culture that appeals to the candidate more than Company B, then the candidate is more likely to accept a job offer from Company A.
It promotes employee retention: Once you’ve attracted top talent, you want to keep them around. A strong corporate culture can help with employee retention by fostering loyalty and commitment among employees. Employees who feel like they belong to a supportive community are less likely to look for new opportunities elsewhere.
It attracts passive candidates: Passive candidates are those who are not actively looking for new job opportunities but might be open to hearing about new ones. A strong corporate culture can help attract passive candidates by making your company more attractive than others in your industry. If your company has a reputation for having a ‘humanesque’ corporate culture, you’ll have an easier time convincing passive candidates to interview with you.

Yes, be human. Just like Patagonia.

Proof? Some Research.

A study by Glassdoor found that 60% of job seekers would not apply for a job with a company if they didn’t like the look of its website*, and another study found that 78% of employers believe that a prospective employee’s cultural fit is more important than their skillset.

What does this mean? It means that if your company doesn’t have a well-defined corporate culture, you’re going to have a hard time attracting the best and the brightest.

* Make sure that you discuss your culture on your wonderful website.

No Not That Ping Pong-Table.

To appeal to the ‘younger’ demographic (yes, even older demos), companies need to make sure that their corporate culture is one that would be attractive – caring. Sure, this sounds obvious. But getting there takes a bit of strategic thinking and action.

Your corporate culture should be more than just a bunch of ping-pong tables and free lunches (although those things don’t hurt). It should be reflective of your company’s values and mission. This is what prospective employees are looking for when they’re considering whether or not to apply for a job with your company. They want to know that they’ll be working somewhere that aligns with their own personal values.

Personal Value Food For Thought.

Here are some ideas, and thought starters to get your advertising agency culture in gear. Riff on these. Discuss the value of each idea. Get internal feedback, read about what works, and study your competitors. Defining your culture is not the best area to be dictatorial. Yes, being dictatorial ain’t a good corporate culture thang.

Have a new employee onboarding system that recognizes your agency ‘space’. Are you all in one office? Running a three-day in-office system? Are y’all distributed around the world? Create meet-and-greet opportunities. Have department leaders talk about their objectives.
Consider having a platform (in person or digital) that allows employees to share ideas, personal info, and dreams with each other… Build that culture.
Have offsite group meetings. In many cases, this will cost less than keeping all of that expensive office space.
Provide your staff with learning opportunities. Size matters so you will need to tailor your training to your agency’s size and resources.
Develop a paid employee volunteer program to address community issues. Walk the talk.
Invest in a training and development program. Show employees that you want them to grow. A triple win – this works for the employee and you. And, yup, your advertising agency clients.