New Business

Which Social Media Strategy Is Best For Advertising Agency New Business?

November 10, 2020 By Peter 7 Comments

You Have A Social Media Strategy For Your Advertising Agency. Right?

Let’s start with what B2B social media strategy works – in general, that is. I was looking for a universal social media image for this blog on a search for advertising agency social media. I found this blog post’s lead image by searching Google. They took me to Anchor Media’s long-ago “Starting Out On Social” blog post. A decent post. Anchor’s blog post and tagged image delivered awareness of them. So… social + SEO = works – some of the time. But, you already know that.

NOTE: I am about to build on the blog post I originally wrote in 2014. Much of what I wrote then still works. The key difference is that we are now all much more bombarded with incoming info and thought leadership material. Barraged, baby. So, before I go back to 2014…

It Is 2020 – Does Social Media Even Work Anymore (As In Drive Incoming) For Advertising Agency Business Development?

Back to my main question: “Which Social Media Strategy Is Best For Advertising Agency New Business?” I am not going to bullshit you. There is no perfect social media platform for advertising agency new business. Why? Cause ya know… the devil is in the details (and, your very own objectives and desire to keep at it.)

2020.

As mentioned above, I originally wrote this very viewed blog post back in 2014. So, I am not going to change much. But, I will update it.

When I wrote this back in the good old days, blog posts by ad agencies had not yet exploded; Twitter posts had not exploded; Instagram was not yet a smash… and on. Here are some of those “we are now bombarded” stats.

How many blog posts are there today? Here is just one-directional figure: there are “like” over 2 million blog posts daily – out of 1.7 billion websites. You think your ad agency can stand out?
There are over 500 million tweets per day.
There are over 5 million businesses on Instagram every day.
There seem to a billion LinkedIn posts a day. I have close to 4,000 “advertising people” connections. Yet when i post on LinkedIn I get maybe 80 individual post views. Pay per play baby. Not so organic these days.
I made this number up. But, hey, it makes a point regardless — There are 4,200 new advertising and digital agency blog posts every day.

Do you get the idea here? You are kinda fucked if you think that your blogs, tweets, etc are gonna get noticed. You are competing with other, probably good at SEO agencies.

The best I can do is to tell you what my personal experience has been. First, here are my social media objectives.

The Richards Group And Your Advertising Agency

October 21, 2020 By Peter 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.

Top Advertising And Design Awards

September 14, 2020 By Peter 3 Comments

A Lovely List Of The Top Advertising Awards

And deep thoughts on why you should even bother doing the advertising award game.

TA DA — A New 2020 Advertising Award: The Side Show

The Side Show is an award for — well, here is what they say:

We’re here to celebrate the side projects of those in the advertising industry. Side projects showcase another angle of ourselves, a side some rarely get to see, and we believe that side should be rewarded. We look forward to seeing you show off your bold, your whimsical, your unexpected, and your original sides. (Also: There’s insanely impressive judges & cash prizes. We may have ‘side’ in our name but diversity is our main focus.)

Submissions are due by October 9th at 11:59 PM, PST and are open for everyone from student to c-suite, creatives and non-creatives alike. Late submissions will not be accepted.

I like this idea. It is fresh, is more inclusive, and should help us to see some of the better work done outside of, well, people’s main work thing.

Next: You might want to listen to or come back to this Advertising Stories podcast – How To Win More Webby Awards.

This interview is with Matt Faulk, yup the guy that runs the Webby Awards’ actual ad agency. Plus… Matt’s agency = Basic = just happens to win more Webby Awards than anyone.

OK, the advertising award list also includes a few of my views on advertising awards objectives and strategies. It is mindblowing how many advertising agencies do not know how to enter an award show — to win.

Note: This advertising awards list gets updated. Let me know if I am missing an award.

Advertising Awards Are Good… But, Maybe Start Here: Why Enter Award Shows? Do You Have A Strategy?

Winning the right advertising awards is good for business and agency and client morale. Just make sure you know why you are entering. Too many agencies don’t approach the award process with a plan or objectives beyond the search for ego fulfillment. This can make the whole effort a bit too C R A Z Y. But, you know that. Or, do you? Go here to hear an advertising award judge on his less than optimal experience reading agency entries.

I have a memory about the power of awards from my first day at Saatchi & Saatchi London way back in the 1990s. I walked through the creative floor and noticed a tall glass case randomly stuffed with lots of creative trophies. This haphazard display delivered two messages: 1) Saatchi wins lots of awards and 2) they don’t take these too seriously. Of course, the second point was bull shit. Saatchi was always about looking like a winner and the award case proved that point in a cheeky manner. It worked better than the usual and obvious shelf of awards that sit behind the ad agency receptionist’s head.

I have always had mixed feelings about advertising awards. On one hand, they are, like winning an Academy Award, i.e. ridiculous. No one ad, digital program or actor is the “best.” On the other hand (the one with the wallet), they are way expensive. As an agency owner, I often cringed when a creative director came to me with his hand out asking us to spend hundreds on award entries.

However money aside, advertising awards have some very big advantages for agencies, clients, and creative-class workers:

The awards celebrate creativity itself. Creative strategies, art, copy and the media platforms that deliver the work.

They help our most talented people get noticed.

They help smart well-designed agencies get noticed by occasionally confused clients who need second party confirmation when selecting an agency. To me, this is a very important point and one that makes writing those increasingly expensive entry checks worth the cost. Awards should be a big part of an agency’s business development program – not just an ego stroker.

To put all of this go-for-it into context, I wrote about the Portland agency Pollinate a few years back that has done very well (!) by hammering Advertising Age’s Small Agency awards show. The blog post, “How To Win The Ad Age Small Agency Award? Twice?” is a demonstration of the value of entering and winning an award that has meaning for prospective clients because it is delivered via an industry-leading publication. Check it out.

Last point before the list. Award judges have told me that around 30% of agencies do not know how to create an entry that is designed to win. Poor copy, poor strategy, even typos. Many agencies rush through the process at the very last minute. Do you? Do you have an annual award plan? Who is in charge?

My 13 Favorite Advertising & Marketing Awards

Advertising Agency Interpersonal Chemistry

July 30, 2020 By Peter Leave a Comment

Smile: Interpersonal Chemistry Is A Critical Factor In Winning New Advertising Accounts

I am updating a previous post about interpersonal chemistry. Why? Over and over and over again I hear that building and having interpersonal chemistry with an advertising agency new business prospect is the make or break element of a hopefully budding new business relationship. So, I’ll get to the point. How can you proactively build and grow advertising agency interpersonal chemistry?

Allow me to frame the conversation via a quote from the article “IInterpersonal Chemistry in Friendships and Romantic Relationships” care of Interpersona | An International Journal on Personal Relationships. To get things rolling, here is a primary quote about relationships:

Friendship Chemistry Reciprocal Candor

The most frequently mentioned quality of friendship chemistry was reciprocal candor, which referred to open and meaningful communication. Three subcategories emerged within this group including (in order of most to least common): Ease of interaction, sharing a deep connection, and predictability. As some male participants described, “Conversation just flows naturally” and “There are no awkward silences”; “Chemistry is when there is a spark or understanding that makes the relationship easy”; and “Chemistry in friends goes beyond just being an acquaintance. It’s like you are connected. Everything makes sense. Everything fits.”

Isn’t this what you want to happen in a new business meeting?

You Probably Look Like The Next Agency

Chances are good that you will be up against look-alike agencies. You all probably share similar attributes, skills, and histories. You might even be wearing the same Armani suit or Tory Burch shoes or, today, tee-shirt.

Because of this, the ultimate selection factor is often based on personal vibes. The client wants to feel comfortable with and inspired by the agency’s culture and people. They are looking for a dedicated partner who will care as much about their business as they do. They want a confident agency that looks, acts, and feels right.

I can’t stress the chemistry thing enough. Here is what Avidan Strategies’ 2012 survey of agency search consultants revealed:

“Practically every consultant, or 96% of the sample, pointed to “chemistry” as the key factor for winning. But what exactly is chemistry? Generally speaking, it is simpatico between the client and agency teams.”

So while you are thinking about how to express your agency’s core skills and style, remember that how you express who you are could be the make or break part of your pitch. I’ll talk more about chemistry later. But it is imperative that you keep personal chemistry in mind as you start to think through what this client really wants.

A Quickie On Online Video Meetings

As the author of a book on presentations and pitches, I have been asked about how to make an online video meeting work harder. I am going to write in detail about this but here are five key points.

Look into the camera.
Employ decent lighting and sound. That means use a pro constant light if you can and get that decent microphone. If you can, ditch the headphones. The big scary ones that make you look like Top Gun. Not a very interpersonal look.
Think hard about your background. Set the stage. No laundry bin, please. Or the barking dog.
Keep the meeting short. People space out after fifteen minutes. I know that this might be hard to control in a business meeting but discuss timing with the people you are presenting to ahead of the meeting. If people think you will talk and talk, they will tune you out.
Check your internet connection speed via a tool like Google Speed Check.

Is Your Advertising Agency Business Development Director Doomed?

June 29, 2020 By Peter Leave a Comment

Yes, Your Advertising Agency Business Development Director Might Be Doomed. A 2020 Update.

The interview below was done in 2014. It remains 100% right on.

Some updated thinking. I am asked on a high-frequency basis by agency management, that means CEO types, if their advertising agency should have a business development director. Because of this question, I thought I’d update this evergreen interview with Brooks Gilley who knows what’s up.

My current thinking based on talking with many agencies is that, at best, only 50% of advertising agency business development directors succeed. I am about to do some haranguing. Why?

As is pointed out below, most advertising agencies have a low to a non-competitive brand position. The degree of positioning sameness – “we are a digital agency” or “we are creative thinkers” – and messaging sameness – as in no soul or a distinctive opinion or having the goal of being unignorable – is crazy. How could even a competent business director sell the 50% of agencies that cannot define a strong sales proposition? Or not have a well-considered target market?
A huge chunk of agencies (it has been reported that up to 75% of agencies) do not have a master business development plan, think of it as a sales plan. How is this possible? And, worse, who is supposed to write the plan? I do not think that a business development director alone can write this plan. It should be an agency self-preservation and growth project.
Many advertising agency leaders have little experience in writing a sales manager compensation plan. Here is a compensation plan you can use.
Too many agency leaders hand off the role of business development to the director. I owned my own agency and I devoted at least half of my time to business development. And, I provided daily support and thinking and budget.

Give me a shout if you want to discuss your agency and its specifics.

Back To The Interview About The Doomed Business Development Director.

To quote the Beach Boys… Wouldn’t It Be Nice. Yes, wouldn’t it be nice to have a business development director that brought in more business for your advertising agency than you can handle? But is your business development director doomed from the start?

She or he could be if you do not have agency objectives, a competitive agency brand positioning, something to sell beyond, “Hey we are a full-service/digital/social media agency”. Or, not having a list of clients and categories you want to nail; an active up-to-date CRM system or you are now in a state of panic because you just lost your largest client.

I know that this is a tough job to fill and do. I managed my agency’s business development director at my own ad agency; for Saatchi & Saatchi Advertising in New York and London and as CEO at two Internet start-ups. I have hired ten business development directors over the past twenty years. Some worked out and some, well, not so well. Again, this is one of, if not the toughest, agency jobs to position for success.

But, don’t take my word for it. Before you read on for an expert interview, you might also want to go to my blog post on how to pay an agency business development director.

An Expert Interview With Brooks Gilley On How To Hire A Business Development Director.

Brooks Gilley is the Founder and CEO of Portland’s 52 Limited. 52 LTD is a 15-year-old creative resource company that connects world-class talent with leading brands, marketing departments, design firms, advertising and digital agencies.

In addition to running one of the west coast’s leading creative talent agencies, Brooks ran the Portland Advertising Federation and worked at advertising agencies.

Peter: According to the RSW/US 2014 RSW/US Agency-Marketer Business Report, the tenure of agency business development directors was two years or less. ADWEEK reports that people in this position at large agencies last less than one year. Is this surprising to you?

Brooks: It’s not surprising at all, largely for the fact that agencies I have worked with on business development director searches come to us in a moment of panic, and that’s usually where the ask starts. It’s a role that is needed now but was probably needed at least twelve months before new business gains became an issue. Additionally, it’s not necessarily a strategic role that is esteemed at and supported within a ‘creative’ organization. [Read more…] about Is Your Advertising Agency Business Development Director Doomed?