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Smart Agencies

Frozen Emails And Business Development

Peter · April 4, 2018 · Leave a Comment

How Not To Freeze Your Business Development Emails

I’m not a big fan of cold calls, cold emails, or cold anything (a key reason I live in Mexico.)

However, in the land of lead generation, there are times when a cold “Hi There” email might simply be the only option. Or, better yet, a smart element of a master plan.

A cold email, a smart cold email, can, if done well, create awareness of your advertising, design or PR agency and, more importantly, begin to seed the idea that you are an insightful marketer that is worth paying attention to. In the best of all possible worlds, the smart “intro” email becomes a much warmer email because it delivers a relevant and hopefully “must read” business insight. If part of a strategic sales plan, the email will become just one element in a longer, more consistent, business development campaign.

Who Gets The “Warm” Email?

I’ll discuss email techniques in a bit. But first, who are you targeting? If your plan is to reach the right people, then you need to figure out who the right people are. Yup a duh. But, you’d be surprised, and competitively delighted, to know that many agencies don’t really know who (is it whom?) they want to reach.

Get your lists right first

Direct to prospect Email is an outbound tool. I recommend using it to reach two target buckets. These groups come from understanding your agency’s brand positioning, its sales proposition, what potential clients will truly be interested in your message and your ability to stand out and be Unignorable.

The Big List

I’m thinking about targeting your agency’s master lead gen list. The longer one. This might sound insane, but my agency had a 1,000-decision maker mailing list. This was our ‘reminder’ list. Our objective was to create awareness of our chops just in case the client needed us that day or month. Note: our strategic list rarely had unsubs since we were slavish to delivering value. This large list is hard to personalize (beyond customizing the right fields). But, you can segment it so you don’t send useless emails that will make you look and sound lame. The key, as usual, is to deliver relevant marketing insights.

The Small List

In this case, I’m referring to a hot list of say 25 to 50 client candidates. These folks, who should without question be your client (example: you are a baby boomer specialist agency and your client target group sell laxatives – LOL). For this must-get group, you’ll need a much more direct, human and, again, highly relevant, super-sharp insight-driven program.

Your List Building

Buy a list. Yes, just drop the coin on this one.

Build a hand-built list using a low-cost intern.

Use email finder tools like Hunter.io, Skrapp, and Anymail. There are more. Just ask Google.

Get the event list from that industry event you just attended.

OK, The Cold Email

This is a well covered subject area, so I suggest that you take a couple of hours and do a Google search to better understand best practices. However, here are some thought starters and a bit of guidance.

  • Understand that your target market is inundated with emails. Many marketing people get over 100 a day. You have to break through. Within milliseconds. Subject Line is KEY!
  • Testing a range of email options to get to the most opens is critical. Examples: test subject lines; who From; copy length; graphics; timing (as in the day of the week and time of day); the timing of follow-up emails; your call to action and even the ‘hooks’ you use like what micro cases or research you use to get people’s attention.

For your very personalized emails (the ones sent to your hot list) do the following.

  • Spend the time researching the person. Get into their head.
  • Understand their key pain points and figure out how to address them. No, not every pain point, but one or two key ones.
  • Make the subject line personal. Let’s say you are that baby boomer specialist and you want to target Schwab’s marketing director. Use a line like this: “New Research For Schwab: Baby Boomer to Millennial Inheritance”.

 ……. Want to hear other ways to grow your agency? Have you called me yet?

Buy These Advertising Books Today

Peter · January 29, 2018 · Leave a Comment

Advice: Buy These “Advertising” Books

I first met Paul Arden when I moved to Saatchi & Saatchi London in 1991 to run the J&J account and business development across Europe. Paul was one of Saatchi’s most famous creative directors, had worked on major agency accounts like British Airways, Silk Cut (a cigarette brand) and Fuji. He was a very serious London dude dressed in Saville Row suits and Havana cigar smoke.

Our first argument happened about five minutes into our first meeting on my second day. I think (know) that he had disdain for American ad guys and he presumed that I was a dweeb. Because we had to work together, the head of the office managed our relationship by seating us next to each other at a table in the big Saatchi Wimbledon tennis tournament tent. The kind of big money client event that was standard in those days. We sat down at our appointed places, looked at each other, laughed and decided to like each other.

The next argument occurred when Paul created a rather expensive video (without anyone’s approval) to illustrate the big idea that we presented to Adidas when we were a lock to win their international account and I was going to build my own sports agency to run it. This was a big fucking deal for the agency and me. We didn’t win it. It was the worst advertising pitch ever. Read about it here.

Paul’s Books

I highly recommend Paul’s books. Smart, full of easy to digest insights (you like small books, right?) and rather witty. Buy them and put them on your desk. About $28 bucks will make you look like you have your act together. Reading them will help you get your act together.

It’s Not How Good You Are, It’s How Good You Want To Be.

Here’s the pitch on Amazon:

It’s Not How Good You Are, It’s How Good You Want to Be is a handbook of how to succeed in the world – a pocket ‘bible’ for the talented and timid to make the unthinkable thinkable and the impossible possible. The world’s top advertising guru, Paul Arden, offers up his wisdom on issues as diverse as problem solving, responding to a brief, communicating, playing your cards right, making mistakes and creativity, all notions that can be applied to aspects of modern life.

Whatever You Think – Think The Opposite.

From Amazon:

The inspired follow-up to the international bestseller It’s Not How Good You Are, It’s How Good You Want to Be.

Bursting with ideas, innovations, art, philosophy, science, and brilliantly bad advice from Paul Arden–a cult figure in the worlds of advertising, art, design, and marketing–Whatever You Think, Think the Opposite offers a new way to approach business and life.

Do me a favor by doing yourself a favor –  buy these.

 

Does Your Ad Agency Get Its Marketing Right?

Peter · January 8, 2018 · Leave a Comment

Getting It Right 

Here’s a look at some agencies that get their business development marketing right care of a request from Todd Foutz of Virgina’s NDP agency.He asked me if I could point to advertising agencies that looked like they had their business development act together. This post attempts to answer Todd’s question via some smart examples and asks you… “Does your ad agency get its marketing right?”

I told Todd that I could take a good look at and report on what is visible to the world, but could not comment on marketing that is not visible – read that as being 1:1 agency to client prospect direct marketing.

A quick bit of biz dev history.

When I returned from Saatchi & Saatchi London to New York, I was tasked with running business development across our North American offices. Early on, I happened to meet with Jon Bond of the hot agency Kirshenbaum Bond + Partners. KB had some small accounts like BMW, Citi and Victoria’s Secret. I asked him what the agency did for new business marketing. He said, “I never know what works so, we do everything.” I got it. But, that was in 1994 before time chewing digital marketing and its tracking capabilities. Today’s advertising agency cannot do everything. There is simply too much everything. So, I’ll lead with one point: focus. Work on doing just one or two marketing programs right. If they don’t work (after you’ve given them time), adjust or move on.

Not Visible

As you might expect, I cannot see agency to client direct communications (except for what my clients do and I’ll keep that confidential). It is unfortunate that I can’t see what everyone is doing since direct contact should be a key element of any agency’s outbound marketing and it would be very cool to be able to have a look.

That said, this is what I do know:

I’ve discussed that there are three primary ways that agencies drive leads. These include the all-mighty referral (an unmanaged default for way too many agencies), inbound searches (i.e. SEO and content marketing) and via direct outbound.

Outbound, which used to be called sales (OK, still is), has been revved up in recent years via the “new” idea of Account-Based Marketing. This means that an agency utilizes a very strategic managed approach to capture the attention of a prospective client.

Most agencies do direct outreach (possibly too much, too often or much worse, very poorly done). As I am sure you know, there is a great deal of client marketing research that supports the fact that all sorts of agencies hammer prospective clients all day long. It is a barrage that makes it difficult for most agencies to get noticed. To this point,  Atlanta’s digital agency Cardinal has a very smart / strategic video on their website where they show one of their clients talking about how many times they get hit up by Cardinal’s competitive agencies – and are not interested in switching.

So, to hammer my point… outbound marketing is critical to agency success. However, poorly delivered outbound does not work, full stop. Super compelling well-targeted insights will break through the clutter to get the attention of the clients you want.

Good news for agencies: most of their agency competitors do not have a clue about how to look and sound trully attractive.

Bad news: these unattractive agencies that hammer clients without any productive, interesting sales pitch or all-important relevant insights help ruin communications for the agencies that actually have their marketing shit together.

Some Agency Biz Dev Research [Read more…] about Does Your Ad Agency Get Its Marketing Right?

Smart Marketing

Peter · December 18, 2017 · 1 Comment

Smart Marketing Is A Good Thing

Our Goal = Run Smart Marketing.

If you were an advertising agency client of mine in 2017, we would have sharpened your positioning; created a plan to deliver brand-building thinking via a content program and then wrapped all that in a marketing plan led by the critically important objective of being Unignorable.

A fine example of an advertising agency actually doing just that is BBH London and its BBH Labs care of their ‘white paper’ Most Marketing Is Bad Because It Ignores The Most Basic Data.

Here is a review of BBH’s thinking plus my thoughts on how to apply their 11 data-points to your business and its business development program.

BBH = Smart

BBH Labs is smart. In fact, being smart is precisely its positioning.

Being smart is a real good thing and clients want and need lots of smart in 2018. Today’s marketing world is simply too chaotic to not need smart, focused and experienced thinking. Plus, in a world of advertising services commoditization, being really smart about advertising is something most clients do not have or can get in-house or from your average freelancer.

  • More smart. BBH is not reporting on expensive proprietary research. They have taken research data that already exists from other sources and putting their own spin on it. Um, kinda like what I am doing here and you could do as well.
  • More smart. BBH has amplified this information on the web, via LinkedIn, on Twitter (where I first found it) and in a SlideShare which has garnered over 28,00 views as of this writing.
  • Really smart. BBH is being Unignorable. More on this later.

Here is some copy from BBH plus my take as it relates to your business development program. [Read more…] about Smart Marketing

2017 Advertising Predictions

Peter · December 12, 2017 · 1 Comment

The Art Of Advertising: 2017 Advertising Predictions

Huh, 2017 advertising predictions? No, I am not one year behind. This is just a redirect of a post I wrote in early 2017 about, yup, my predictions for 2017. I wanted to share it with you simply to show where my thinking was one year ago. So, below is the post. Was I right? Hard to tell. But, based on working with a bunch of agencies this year in the USA, Canada, the UK, Australia and Asia, I can say I was pretty darn close.

One trend I missed was the growth of consultancies eating away at the large advertising agency networks.

OK, one more. The phenomenal growth of Facebook, Google and, now, Amazon advertising. The high concentration of advertising on these three platforms is NOT good news for many agencies. DIY advertising may not be the best type of advertising but it is being used more and more.

________________________________________________

Here’s my early 2017 blog post.

Is Advertising Art? Yes and No. Thoughts on 2017.

images-campHere are some thoughts about the business of advertising that I will explore in 2017. A key one for me is thinking about the value-oriented question: “is advertising art” or is “advertising science” and how the recent move to data-love effects what you are selling to your agency’s current and future clients.

What I Think We I Will Be Talking About This Year

Is advertising art or science? Well, it used to be very much art. Today, it has become, in my estimation, too scientific. I find that it is getting harder to find the big advertising ideas (name five from 2016). You know, the ideas that resonate, hit the emotions, get talked about. These big, brand-building, sales-generating “ideas” seem to be lost in a world of ever-evolving tech / digital platforms and data mining.

Sure, this could simply be ‘good-old-days ad veteran speak’. But, no… While I grew up on mega-buck TV shoots, I also moved into the digital world in 1996 (founding NJ.com then ActiveBuddy) and ran a ‘digital’ agency in Oregon –  so, I’m not too-stuck-on-good-old-days after all. I just miss the time when people stood around the company water fountain and talked about advertising.

Today… we are simply not spending enough time thinking about the BIG ideas that drive humans to pay attention and to act (to give a shit) and then to want to do the action you, as a marketer, want them to do. We spend too much time talking about the technology and targeting that puts boring ad ideas in front of people. Boring.

Does the technology work? Facebook advertising fibbing / bullshit – again and again (the BIG 2016 story). And then there is ad fraud. Billions? Wasted? Clients have woken up. This should be interesting.

Workload will load up. More and more advertising platforms will lead to more and more agency staff work. You are in a tough position… more work and clients that want to take a bite out of your profits. Plus, employee burn out.

The business of advertising sucks (Part I). I talk with dozens of agencies. Most, even shops up to 200 people (I won’t even get into the networks) are barely making it. Why? Well, most do not really know what business they are in. They like making ‘ads’ and using the latest ad tech. But, they do not know how to make money. Most, the vast majority of agencies, do not even have a business plan that spells out the path to success. Please, start with a plan. And, given the pace of change, review the plan every year.

Ultimate bottomline: Most agencies do not have a marketing plan.

ADHD. In addition to not having a business plan, many agencies do not run a consistent marketing program. Many (most agencies) do not run their sales plan with any consistency. They: Start – Stop – Start – Stop. They clearly have some form of attention deficit problem. Agency leaders have to treat business development like they treat an agency client. Do not take your eyes off the new business ball.

The business of advertising sucks (Part II.)  I was blessed during the first half of my advertising career. We got paid well by the 15% commission system. This ended for me about 1989 when a new CMO at my Northwest Airlines client wanted to reduce that to 8%. Get this, this cut took us from $9 million in revenue and $3 million in profits to about $4.5 million in revenue. All of a sudden we were operating at a loss – if we did not cut back on our service. We didn’t and it didn’t matter because, of course, the new CMO wanted to hand the account to another (read: his) new agency. OK, it’s 2016 and you guys are now charging by the hour. I witnessed this problem at my Oregon agency. The problem? Not so much that we got paid less. But… the problem of getting paid by labor hours for creative services. The value my agency provided clients far exceeded the hourly rates we could provide in an industry that had become based on low costs. There was always another agency that would work for a lower hourly rate.

Ready? Sell your agency? Sorry, most owners will never be able to sell their agency. Ever.

Why? Most agency owners are not building a business for sale. That means that they do not have a product or service that someone else will want and want to pay big bucks for. You can build a valuable agency. But, you have to make the goal of building value part of your plan. A part of your business plan. To get there, figure out what kind of agencies are getting bought (most sales are local) and have the type of agency that another wants to buy.

Process equals success. Having a clear, well-managed agency process is critical. Agencies have to find as many repeatable systems as possible. Otherwise, you are doomed to the world of over-work and low-margins. Read this: Advertising Agency Process and Profitability. It is long. It is based on how my agency built a system for profitability. An agency I was able to sell.

There is much more. But, I have to go now. Adios and —– Feilz Ano Nuevo!!!

OK, Back To The Art Of Advertising

lumascape-marketing-techOne more thought. You are in the advertising industry. This means that you have to connect with hearts and minds in order to cause the action you seek. This means that a form of art is involved.

Sure you have to use advertising technology to get the word out (that’s all that overwhelming stuff in the Lumascape at the left). But, you will not get the results you want until you spend some time making advertising art that connects, inspires and informs.

Soooooo, as a New Year’s gift, I give you a very brief definition of art. Think of this Richard Serra video the next time you crawl into the ad tech wormhole. Who is Richard Serra? From Gagosian, his dealer…

“Richard Serra is one of the most significant artists of his generation. He has produced large-scale, site-specific sculptures for architectural, urban, and landscape settings spanning the globe, from Iceland to New Zealand.”

Richard Serra – Why Make Art?

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