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Agency of the Future

3 Thoughts On Advertising

Peter · February 12, 2019 · 1 Comment

Actually 4 Thoughts On Advertising

Here are some thoughts on advertising driven by four recent reads.

What If There Was No Advertising?

Imagine a world where all advertising was erased from the environment. That means no more escalator, or bathroom stall ads; no more behavioral retargeting; movies and tv shows without commercials (oh, that’s Netflix); no outdoor boards on Montana highways, and on. Hard to visualize? Maybe (um not), to help, here is a series of “ads” that have been erased. Check out Jorge Pérez Higuera’s photo series Public Spaces. 

Back to reality.

But, First The Good Old Days & ROI

I am having a drink tonight in my town San Miguel de Allende with Michael Farmer whose book, “Madison Avenue Manslaughter: An Inside View of Fee-Cutting Clients, Profit-Hungry Owners and Declining Ad Agencies” is the most informative and insightful book on the reasons for the demise of the good old days of advertising. Michael covers the advertising world from the high-profit Mad Men days to where we are today (much less-profit). Today’s ad world is strapped by client jitters, the quest for low-cost advertising services and way too many advertising platforms that equal an ever-increasing workload.

I suggest you buy the book and listen to Michael’s interview with Jack Meyer’s on MediaVillage. From the interview:

Jack Meyers: Last week we talked about the deterioration in agency-client relationships — fee cuts, shorter relationships, in-house agencies, etc.  You said that agencies were downsizing and liquidating their capabilities — becoming less capable of helping their clients solve “brand growth problems.”  You predicted that this would lead to financial problems for the holding companies. This did not paint a very optimistic picture of the industry.  Where do you think things are headed?

Michael Farmer:  There’s a difference between where things are probably headed and where they could be headed.  In a funny way, I’m still optimistic about the potential for a turnaround in the industry.  As long as advertisers have performance problems — stagnant brand performance, for instance — there are attractive opportunities for problem-solving partners.  The question today is whether the current leaders of advertising agencies and holding companies will transform their operations and help them become the problem-solvers that their clients need.

We will not return to the good old days of 15% commissions on large TV, print and radio buys. Today we are paid by the hour and seem to need to run Instagram at a 24/7 pace.

However, it does not have to be gloom and doom. As I have written about over the past few years and council my agency clients… we need to, as Michael says, address the core need of our clients and that is sales growth – not mindless Instagram posts. In the case of 2019’s ability to track much of what we do, that means addressing Return On Investment. Yes, you better be creative art directors, media planners and database experts. But, you have to be able to recognize sales opportunities, have the time to find solutions and deliver ROI.

Advertising Is Back! Y’all. I Hope.

From a Business Insider article.

2017 was a trying time for ad agencies, with issues ranging from transparency and brand safety concerns to the looming threat of consulting firms coming to a head last year.

But the prospects for the advertising industry look a lot brighter in 2018, according to new research issued by UBS.

The investment bank surveyed 350 global marketing executives and 500 US CFOs and has predicted that ad agencies will bounce back in 2018, buoyed by a growth of 4-5% in global advertising spend.

The recovery in 2018 will be driven by a number of factors, UBS analysts said, including large advertisers increasing the scope of work with creative agencies and big sporting and political events driving increasing spend on brand media.

This is particularly interesting, as it runs counter to the trend of advertisers doubling down on direct advertising in recent years, where they have prioritized marketing strategies that drive measurable results.

[Read more…] about 3 Thoughts On Advertising

Advertising Agencies, Nerds And Digital Marketing

Peter · February 11, 2019 · 1 Comment

NerdThis is a post about advertising agencies and the ongoing move to digital marketing and as a result, the need for more nerds. In this case, I mean a single-minded person that is highly focused on a technical field, like mobile advertising; programmatic media, database marketing or, well you get it. Stick with me on this one.

There is some personal history here and yes, the name dropping is important. I am trying to make a point and can use all the help I can get.

History

I “discovered” digital marketing in 1994 when I came home to the U.S.A. from Saatchi London where no one had a computer on their desk. I returned to work as Business Development Director at Saatchi & Saatchi Advertising New York and as it turned out, it was my 16th and last year at the agency.

aol-america-online-welcome-screen-main-menuMy eventual move out of advertising was stimulated by my discovery of and fascination with the new world of interactivity via CD-ROMs and a life-changing conversation I had with Ted Leonsis who, at that time ran Florida’s Redgate Communications. Redgate was very early digital agency founded in 1987. I found Ted through the 4A’s Michael Donahue another early digerati (you could say this word then without cringing). Using my Saatchi credential, I met with Ted and he told me two very interesting things. One, his company had just been bought by America Online and two, this advice,

“Get the hell out of advertising, it is going to die. Move into digital.”

Well, after the meeting I did two things – one a mistake and the other, the smart one: I listened.

The mistake was that I didn’t buy America Online stock (its stock rose 600 percent in 1998). Had I, I might be sorta near (well, kinda near) where Ted wound up. Today, he is the owner of Washington D.C.’s Capitals, Wizards and Mystics. [Read more…] about Advertising Agencies, Nerds And Digital Marketing

Nootropics, Brain Food For Advertising

Peter · January 30, 2019 · 2 Comments

Nootropics And Advertising

limitless-nzt-nootropic-definitionUPDATE:

I originally wrote this 18 months ago and promised an update. I did not receive enough benefit – as in, making me enough of a smarter boy to merit ingesting the nootropics and the cost. It would have been nice to tell you that I became Bradley Cooper.

Back to the original blog post:

Remember the movie Limitless and the little clear pill NZT that turned Bradley Cooper into a raging genius? He had entered the new world of nootropics. Read on.

Today is Day One of my Nootrobox test. My “NZT” test. Nootrobox is a nootropics or “smart drugs” company. I hear you saying, “Nootropics?” Here’s the Wiki definition…

Nootropics (pronunciation: noh-ə-TROP-iks)—also called smart drugs and cognitive enhancers—are drugs, supplements, or other substances that improve cognitive function, particularly executive functions, memory, creativity, or motivation, in healthy individuals.

And, here is the description from Nootrobox, the VC-funded company that is supplying me with my three-pill set. [Read more…] about Nootropics, Brain Food For Advertising

What To Learn From Learn From Crispin Porter Bogusky

Peter · January 20, 2019 · 1 Comment

Advertising Agency Learning From Crispin Porter Bogusky

I use a bit of show and tell when I work with my advertising agency clients. Based on their business objectives, positioning, and service offering, I show a series of relevant benchmark agency websites and marketing tactics to help agencies learn from related B2B best practices. Here is what I think is valuable learning from the recently rebranded Crispin Porter Bogusky and its new website.

Crispin Porter Bogusky – Background

Crispin Porter Bogusky was once the golden creative baby of the advertising industry. It came to fame in the early 2000s with its Truth campaign for the Florida Department of Health. From AdAge, June 2002:

Crispin Porter + Bogusky had a good week in Cannes, winning two Media Lions for its launch campaign for the Mini and picking up two Film Lions for anti-smoking work for the Florida Department of Health. The agency’s brand new campaign for Florida “Truth” takes a rat’s eye view of the tobacco industry.

Over the years, the agency moved from Florida to Boulder and then expanded globally. They’ve been named “Agency of the Year” 13 times, was Advertising Age Agency of the Decade in 2009 and was Cannes Lion’s Interactive Agency of the Year – get this – three times. The agency is owned by MDC Partners.

Getting The CPB+ MOJO Back

[Read more…] about What To Learn From Learn From Crispin Porter Bogusky

The Internet – A New Discovery

Peter · July 30, 2018 · Leave a Comment

The Internet – Great Music

I’m heading to Mexico City for a few days. So, here is something to keep you busy. It’s about the Internet.

I discovered The Internet in 1994. I had been working in Saatchi’s London office. An office sans any discussion of the Internet, or better yet digital marketing platforms like CD-ROM’s (look them up if you are way young.) Luddite land.

My discovery happened when I returned to New York. I remember watching my first CD-ROM and said, ‘Whoa” what is this stuff and, yup it’s a marketing platform. This discovery got me to meet with digital guys like Ted Leonsis.

Digital Native

I love the term ‘digital native’. It describes my kids. I am not sure that they remember the days pre AOL and the birth of the graphical browser – the ever-present mobile phone. A definition…

Digital native: a person born or brought up during the age of digital technology and therefore familiar with computers and the Internet from an early age.

Why mention this? I view myself as a digital native. While not “born or brought up during the age of digital technology”, I cannot remember the days pre-digital. OK, that’s bullshit. I do remember. Most importantly for my audience, we seem to have forgotten some of what actually makes marketing work – stuff from the old days. I’ll keep it simple… I mean having a big idea, something that resonates with your audience, something that a creative mind (not an algorithm) serves up — I know you know this. Therefore here is a creative organization that might get your creative juices flowing.

Today’s The Internet.

Heard of The Internet? Um, the band?

Here’s the band’s Come Over video. Very cool. They are simply in the groove – a modern take on R&B. What Pitchfork has to say,

The fourth album from the R&B collective is a peak example of their combined powers. It simplifies their sound with soft-focus blues, plush arrangements, and deep-in-the-ground grooves.

The video. While you are at it, check out the band’s other videos. Maybe you’ll get an idea for your ad agency videos.

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