Smart Agencies

The QR Code Menu And Covid-19

October 25, 2020 By Peter Leave a Comment

Digital Acceleration Baby: The QR Code Menu And Covid-19

This post is about the increasingly ubiquitous QR Code menu as an indicator of digital acceleration in the time of Covid-19. There are few things I personally dislike more than mobile phone usage at the table. However, your mobile is now a critical element in the restaurant experience.

First, a bit of Nike. A few years ago I had a really depressing meeting with my long-term client Nike about the use of a graphical QR code on their worldwide packaging. I gave Nike a very doable idea about what I absolutely knew was a brilliant, low cost, and potentially powerful global marketing mobile experience. Simply embed a QR code into every Swoosh logo on every box that found its way into every house in every country. Turn every dumb box into in-house 24/7 mobile marketing. Bring Jordan into the home.

Yes, QR codes can be graphical. The digital watermark QR code idea was developed by Digimark, another agency client. The idea was to replace the funky black and white code with an interactive logo, picture, or word. I am talking about having an interactive Swoosh mobile marketing tool hand-carried into millions of homes. Easy, cheap, doable. And why the fuck not? Did Nike buy this idea? No. They just stared at me – “Why would we want to send a digital experience into homes vs. our current “dumb, do nothing paper box?’ I was like. “Are you kidding me?” That was the day I decided after giving really smart ideas to clients over my 30-year global advertising career, including winning programs that delivered lots of EFFIES, that I was done with owning an agency. Frankly, it felt like pearls before swine. Am I being harsh? Sure. Read all about the experience and see the Nike presentation here:

Nike Made Me Sell My Advertising Agency.

The QR Code Menu As Indicator

I first noticed the use of QR codes in Tokyo in the early 2000s. I was standing on a street corner in Shibuya and saw some teens pointing their phones up at a QR code on an outdoor board. I went over and saw that their aiming triggered a digital experience appearing on their phones. Whoa!!!

I said, we gotta have some of that.

Cut to like 8 years later and my advertising / digital agency started working with the tech leader Digimarc which owned the patents for digital watermarking. That is how I came to the idea of creating an interactive “smart box”.

Restaurants. Way back in 2018 there were over 600,000 restaurants and 54,000 hotel properties in the USA. All of these businesses are barely touching the opportunities embedded in mobile marketing.

Why just a menu? Digital check-in? Why not more remarketing? Diner or guest data? And, on.

Covid-19 As Accelerant

Cut to 2020. What more can be done?. Covid-19 is acting as a digital accelerant. More people are buying online, ordering food delivery, communicating with brands online, and now using their phones to read a digital menu. We are studying more online and getting digital healthcare, using exercise apps, ordering in.

Less touching and breathing all around.

As more and more people of all ages are becoming even more slavish to their Androids and iPhones… shouldn’t we be seeing more and more uses of the handy mobile code as a marketing tool?

Side note. China, as an example of the future, has gone like 100% mobile. You even scan and pay by phone for the low-cost bao bun on Shanghai’s food street Fangbang Road. We, MAGA focussed Americans, will get there sooner or later.

Your Digital Agency & The Code, And Big Ideas: GO!

OK folks. Your agency should always be looking for new ideas to excite your clients. What can you do with THE CODE?

Advertising, mobile events, packaging, in-store, on the street… For Burger King or your local pizza chain?

Should I send this blog post to Nike? Adidas, Amazon, any brand with a box at a time when in-store interactions are down?

OH!!!! Maybe your agency should!!!

How To Sell Your Business

September 25, 2020 By Peter Leave a Comment

So You Want To Sell Your Business? Start The Process Early.

I have bought and sold a few advertising, digital, and design businesses. The process is stressful and rewarding. The keys to success are knowing why you are selling (and buying), spending time to build value, building a compelling, market-leading positioning, getting your financials in order, and hiring the right experts that will help you sell your business.

That’s why I interviewed Mark Holdreith of Media Advisory Partners. Mark and his team specialize in delivering M&A services for small and mid-sized marketing services and media companies.

From Media Advisory Partners:

MAP was founded in 2010 to provide financial advisory services to small and mid-size marketing services, media, and related companies. From the beginning, we have been committed to Advisory…providing the in-depth, end-to-end support and services required to meet your specific M&A needs.

I have two big pieces of advice; Start the process early. Read my free book, “How To Sell An Advertising Agency. And, How To Buy One.” There are a couple of links on this page to make that real easy.

Media Advisory Partners

YO – Hypnotism coming: Remember to subscribe to Advertising Stories. Remember to subscribe to Advertising Stories. Remember…

A nice thing for me… Feedspot has recognized Advertising Stories as being a top 15 advertising podcast.

How To Build An In House Agency

September 18, 2020 By Peter Leave a Comment

The market vibration is that there is a growing use of the in house agency. To be more specific, this is an in house “advertising agency” since what is brought inside are one or more of what I’ll call “advertising services” that include strategy development; digital marketing; PR; ‘traditional advertising”; media planning, and buying and, most common, high-volume and fast-paced content development.

There are many reasons for a company to bring some or all marketing services inside by creating an in house agency. That said, there is no one size fits all and it ain’t easy folks.

The rather experienced Steven Morvay, he’s held senior positions as both an agency president at Saatchi & Saatchi Direct and senior marketing positions at Borders and HBO, gets both sides of the in house agency equation. Take a listen. This is a smart discussion. Yes, I said that.

The In House Agency – The Why Do It?

I am going to go deeper into the growth of the in house agency and its efficacy and issues. But for now, here is a revealing chart from the Association Of National Advertisers and eMarketer about the primary benefits of creating the in house agency. Yes, it is often mucho about saving some bucks.

…..

Show Notes.

Steven Morvay on LinkedIn.

YO – Hypnotism coming.

Remember to subscribe to Advertising Stories. Remember to subscribe to Advertising Stories. Remember to subscribe.

A nice thing for me… Feedspot has recognized Advertising Stories as being a top 15 advertising podcast.

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

How To Sell A Business

September 4, 2020 By Peter Leave a Comment

Want To Know How To Sell A Business? Many Want To Do That Right Now.

I Wrote The Book: ‘How To Sell Your Advertising Agency. And, How To Buy One.” It Is Built For Anyone That Wants To Sell A Business.

I wrote the free, yes free, 57-page “How To Sell Your Advertising Agency” book so you will learn how to add significant value to your advertising, digital, and I mean it, whatever kind of company you have. Do you want the book? Just ask me or subscribe below or to the side. Yes, even free has its cost. But, hey, just do it.

How To Sell A Business & How To Buy One.

I bought and sold three advertising agencies. I also had two VC backed Internet startups. I get it. Here is a start for you – The Why and how of my buying an agency in 2002. The deal is to really know why you want to buy or sell and what you will do after the deal.

I will post about the other deals very soon.

Deal Number One – 2002. From New York To Oregon.

This deal had multiple objectives. I wanted to leverage my deep advertising and digital skills + buy a successful advertising agency + move out of the New York area to much greener, mellower pastures. The deal I was looking for would meet both business and personal needs.

I bought the Bend, Oregon advertising agency Ralston Group in 2002. At that time, I was living in New York and had left the position of CEO and founder of ActiveBuddy, a highflying Internet startup. We had raised over $30 million from VCs and individual investors and had patented natural language technology (earlier than SIRI) that we used to create the incredibly successful Instant Messenger Bot, SmarterChild. It ran on AOL, Microsoft and Yahoo. That was our “sample” Bot that had millions of followers because people liked to talk to a smart computer. The business goal was to create natural language Bots for brands and media. These Bots allowed people to talk directly with brands and information resources. Interestingly, our first paying technology customer was Warner Records’ hot band Radiohead. I could not have invented a cooler market entry.

Our company goal, like many other dotcom boom companies, was to sell the company to one of the majors. We in fact had deep negotiations with all when the dotcom dam burst. To make a long story very short, I did not get my “fuck you” money from a sale. Oh, don’t worry about me. I actually came out OK. Microsoft bought our technology.

After the dotcom bust debacle, I started to look for a company to buy. As an ex-Saatchi & Saatchi Advertising executive, owning an advertising agency was one of my options. I found Oregon’s Ralston Group though a classified ad in the Wall Street Journal – how 2002. Advertising in the WSJ was a smart move by Ralston Group’s owner. Here are the four main reasons I bought the agency.

The Ralston Group was a very smart and creative agency. Kevin, who would be my partner after I bought out the majority owner, was one of the best Creative Directors I had ever seen. The agency staff was also top notch. Without question equal to the talent I had worked with at Saatchi London.

The agency had a strong client list in Oregon and Idaho. Big community banks; major healthcare companies (hospital groups and Blue Cross); Sunriver Resort and Idaho Power and more. These clients came with recurring revenues. I knew that the addition of my Saatchi and digital startup background would help us grow.

The owner, who was looking to get on with her life after building the agency, was realistic in respect to agency valuation and – important to say – was easy to work with.

The agency was in the soon to be very famous Bend, Oregon. The idea of my wife and me raising our children near a ski mountain, rivers, fly fishing, mountain bike trails and, yes, even great restaurants and brewpubs, solidified the deal. We gladly gave up the usual two-month wait for a table at New York’s hottest new restaurant for 6,000 feet of fresh air.

Years later, I still view this as a very good business and personal deal.

Stay Tuned For More Stories On How To Buy Or Sell A Business. Plus More Expert M&A Podcast Interviews.

The next story will be about how I bought a design company that got me Nike as a major client. And after that one, how I sold my agency – and got lost in Mexico.

Oh, more… Here is a link to my podcast interview with a major M&A expert. You’ll hear how to sell – the details about how to do it that is.