Peter Levitan & Co.

The New Business of Advertising

Marketing

Attention, Interest, Decision, Action

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The savvy Rebecca Armstrong, Principle and Managing Director of Portland’s ad agency North, recently wrote the following to me about her perspective on new business. About creating a holistic approach. About creating the total package. About the realization that it takes a plan. I agree.

New business for me is a very holistic package of having an excellent creative and strategic reputation, having a strong, singular and differentiating POV, having vocal advocates in your existing client base, having kick-ass PR counsel, growing a culture of new business in the organization, chasing culturally-aligned clients yadda yadda. And then there’s the pitch, which is an art in itself.

It also requires…

alec-baldwin-glengarry-glen-rossAttention, Interest, Decision, Action

As Alec Baldwin said, “ABC. Always be closing.” Its called sales pressure. This may sound a bit intense. But, isn’t employing some form of ABC, maybe your own way of ABCing it, what it all comes down to? In the case of advertising agencies, I suggest keeping the new business machine working 24/7. Something we can do given our digital and social tools.

Full disclosure: I am not advocating a full-on old-fashioned way of doing that thing that puts fear into the hearts of advertising agencies — SALES. I am simply pointing out, by showing you one of your favorite movie scenes, that only employing passive business development efforts won’t work. You will need to find your own special sweet spot between doing nothing, building that holistic program and acting like Alec Baldwin.

http://www.youtube.com/watch?v=AO_t7GtXO6w

So… for some of my very own ABC, think David Mamet or, in my case, Mario Puzo. Just call me. Think Corleone.

The Sweet “Why’s” of Online Video

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emarketer online video advertisingAccording to eMarketer, advertisers are using online video for awareness and branding. No surprise there. This is how “commercials” have been used for years.

Read on…

So, What Are The Sweet Why’s?

  1. The use of online brand video as “old-fashioned” TV commercials is why agencies that know how to write and produce TV commercials have a leg up on the young digital upstarts.
  2. The use of online brand video is why young upstart agencies need to begin to act like old-fashioned TV advertisers. I often hear newish digital agencies ask, “how do I do TV advertising?”

What goes around goes around.

OK, one more thing. Remember when the digital guys said that interruption advertising was dead. Well, guess what, it ain’t. Just try to watch a video on YouTube without a commercial interruption.

OK, OK. Sure things will change. And, yes the TV creative director generation will die off. But, it will be a slow death. Why? TV commercials WORK!

Adobe Helps With Ad Agency New Business

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Adobe recently released the important insight-rich study, “Digital Distress: What Keeps Marketers Up At Night”,  on how marketers view digital marketing. I urge you to read the PDF of the full report: adobe-digital-distress-survey.

The good news for advertising agencies is that clients are not getting their 7 to 8 hours of REM a night. Tired means that you have significant pain points to aim at with your new business strategy.

Here is Adobe’s sleepless in marketing chart. It is rich with business development messaging points for agencies. The chart shows the gap between what marketers view as important vs. their level of satisfaction.

The first agency-related finding that jumps out to me is the gap between desire and fulfillment in marketing Creativity and Innovation. Hello, agencies, this is your sweet spot. But, you know that. In fact, there is so much fuel here that any agency could jump on just any one of these points (that means develop some relevant focused insights) to make a compelling case to get a meeting. Use some of my free insight tools to make that case.

what keeps marketers up at night

 

If you have a couple of minutes, check out Adobe’s animated infographic. It could be something to share with current or prospective clients.

https://www.youtube.com/watch?v=mjT2ZNG0IK8&feature=youtu.be

The History Of Content Marketing

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Yesterday I opined (yes, a Bill O’Riellyism) that we shouldn’t get all caught up in worrying about the definition of advertising. In my head, lets keep our lives simple and just believe that when marketers pay for our attention they are “advertising.”

I sited content marketing as not being a brand new “advertising” idea (think advertorials) and today found this infographic on the history of content marketing on the Content Marketing Institute website. So, how old is content marketing… Try 1885.

slide-1-638

 

 

Advertising Agencies: “Do Not Pitch”

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Cruise around the world of advertising agency new business consultants and you will often hear that ad agencies shouldn’t ever have to pitch for new business. The “pitch” for not pitching is that if you do a well-targeted, brilliant in-bound marketing program you will get direct “I love you, I want you” incoming from all the qualified new clients you desire. Cool. You’ll get all the new business you want without the cost and hardship of pitching.

This “win without pitching” dream does come true for some agencies. And, I do discuss how to build and run targeted in-bound programs with my clients. These programs include the hyper-targeting of specific clients and selected categories and the employment of SEO best practices (understanding your target market; smart keyword strategies; use of longer posts; syncing your blog, Twitter, LinkedIn and Slideshare, channels; leveraging YouTube.)

However, for the vast majority of agencies, in-bound marketing simply isn’t enough.

Telling Advertising Agencies “Do Not Pitch” For New Business Is Simply BS

I’ve been involved in advertising agency new business since my first pitch (we won) for Western Union’s EasyLink email service in 1984 (yes, this was the first commercial email service — just a touch early.) I’ve run business development at Saatchi and my own agency. Guess what, unless you are the darling of ADWEEK; just won the Gold Lion and some Clios; do Apple or Samsung or Coke advertising; have some form of secret sauce (you are the first ad agency to actually get mobile advertising with ROI proof); have an outrageous database of marketing friends for continuous referrals or are well-know as a category expert…

Fuhgeddaboudit. Chances are rather high that you will have to pitch the accounts that you want. Sitting back and waiting for those love-child clients to call you ain’t going to keep your agency afloat. Wishing that you will never have to pitch is lunacy.

So, please, win without ever pitching? Maybe for the 1%. But, not the other 3,999 agencies.

My bottom line? Learn how to win more of the pitches you should be invited to. I’m going to start to write about how to pitch. It will be a good “pitch” for my business.

And…. Here is how to position your agency so you might win those pitches you are invited to.

Yo!… Don’t miss any of my brilliant (LOL, but I mean it) thoughts on new business.

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