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Smart Agencies

The 4 Worst Habits Of Advertising Agency Sales

Peter · April 25, 2016 · Leave a Comment

The 4 Worst Habits Of Advertising Agency Sales

images habitsYes, just 4 worst bad sales habits.

After a few years of digging deep into the business development plans and the daily habits of a range of advertising, PR, design and digital agencies, a few common bad habits rear their heads all too often. Here are what I think are the 4 primary bad habits that can be avoided with sound planning and an ongoing system that yields  agency-wide ‘sales consciousness.’

Bad Habits Be Gone

1. No Business Development Plan – I Mean Sales Plan

Over 60% of agencies do not have a detailed market-ready business development plan. This plan must be objectives driven and reflect the changes in market behaviors – how marketers think and the evolving world of marketing tools  –  that are going on in B2B marketing.

When I say objectives, I mean the business development plan must be a part of a sound business plan.  I tell my agency clients that they must start with a business plan – even if it is one page long. One concise page can be a good thing. Admission: I could never get my agency’s plan on one page.

Back to sales. Here are some lean and mean bullet points:

  • You must know what you are selling.  Just saying digital or social is not enough. Some form of specialization is warranted. Read this on agency positioning.
  • Be able to express why you are unique. I won’t bore you by saying that you need a distinctive brand – you know that. The good news is that most of your competitors are not distinctive. And, most do not have messaging systems that bring the agency positioning alive.
  • Know how what you are selling will (must) resonate with the needs of your target clients. Obvious point: put yourself in their shoes. Today’s marketing director type is nervous. Help them do their job. Ongoing thought leadership rules in this space. It is also very SEO-friendly. Like, um, that’s probably how you got to this page.
  • Plan on how  your agency, its story, work and thinking will get found via both in and outbound strategies (you will need both).
  • Be competitive.
  • Going slow will not win. Here is a great quote from Mario Andretti:

    “If everything seems under control, you’re just not going fast enough.”

2. Taking The Eye Of The Ball

We all know this one.

Our unwavering desire to please our clients means that they most often come first. OK, I get it. But, the fact is that running a healthy profitable agency with positive skilled employees has to come before client service. If you don’t have a well-run agency that is financially secure, the idea of paying attention to client needs will be a doomed effort. Your company comes first because the client hired your wonderfulness in the first place.

In my opinion, the only way that you can get to well-run is to have a very positive cash flow and ROI. You’ll get there two ways. 1. Build a service package (agency management, pricing and costs) that helps to make your P&L sing. 2. Run a very smart 24/7 new business program that gets the right clients (you must clearly define right for your agency) in the door. As you know, older clients will walk out the back door. So keeping your front door top of mind is rather important.

3. You Do Not Have A Business Development Sales Culture

First, a point. We call it business development. But, it is sales. And getting it right inside of your company that lives in one of the most competitive service categories is critical. Just imagine a category where your competition are all expert marketers and have super articulate glib management that usually dresses real well. That’s your sales universe.

Yikes, I’ll repeat the obvious: Business development can be daunting. It is a team sport.

It is essential that everyone at the agency understands that growth is a primary objective and that they play a role in agency sales. They will be asked to help with marketing programs, RFP’s and pitches. They need to be aware of any opportunity that floats by via friends, ex-clients and reading the press. It is all about instilling a culture of sales- consciousness. Much of this will come from agency management’s focus on new business efforts, talking to the agency about what is going on in and outside the agency and by acting as  a positive role model.

4. You Hire A Business Development Director And Cross Your Fingers

One of the first things agencies say to me is that they have not had a positive business development director experience. Having been Saatchi’s business development director, running two internet firms and my own agency that had sales staff, I have a few thoughts on why this happens.

First of all, reread the first 3 bad habits. If you do not have a sales plan, an agency with the will and  time to execute, and an agency that recognizes that growth is critical and is to a certain degree, everyone’s job, virtually any good sales person will fail.

I have a couple of important blog posts on the business development function and how to help make them successful. Here you go:

Is Your Agency Business Development Director Doomed?

As you might expect, the answer is no.

How To Aim Your Agency Business Development Director.

This is the blog post with a sample contract.

That’s it. No, No! That Isn’t It.

Read my best-read blog posts – they are all about advertising agency sales. I’ve designed them to help you win. And, hey, while you are at it, why not call me? You might have nothing to lose except one or two nasty habits.

 

 

Resources: Top 10 Twitter Tools For Ad Agencies

Peter · March 28, 2016 · Leave a Comment

Top 10 Twitter Tools And Tips For Ad Agencies (OK, Everyone)

twitter-follow-achiever_1_0I know from working with a wide range of advertising and digital agencies that Twitter can work very hard for B2B ad agency new business marketing.

However, trying to run a 24/7 Twitter program that uses best practices to achieve an agency’s goals can be daunting. Marketing communications companies that do not have dedicated staff to run a demanding social media program can get a bit overwhelmed. Good news, there are tools that can make using Twitter as an inbound and outbound platform much easier.

In addition to watching how the smartest agencies use Twitter, I base the following list on my own success in having well over 2,000 direct links per year from Twitter to my very narrowly defined website. In addition (thinking like a networker) I have had  many valuable inter-Twitter direct communications in the past 12 months.

I divide this list into Twitter tools that make creating and posting Tweets much easier and tools that help me use Twitter as a marketing platform — including using Twitter as competitive and direct marketing platform.

Twitter Advertising

While we are all worshiping the Gods of inbound, actually using Twitter as an outbound advertising platform is worth the effort and cost. I know for a fact that, Twitter ads work. Go forth and test them.

Social Media Examiner. A primer on some of your advertising / Follower builder options.

Twitter Advertising. See if Twitter ‘s advertising website whets your outbound appetite.

Twitter Production And Scheduling Tools

Bit.ly. With a 140 character limit, you have to shorten any URL’s posted to Twitter. Bit.ly does a bit more cool stuff. But shortening alone means you need to have this built into your browser.

Buffer. Buffer is my number one easy to use scheduling system, it is connected to my WordPress blog to automatically send my blog post URL’s and a snippt to Twitter (and LikedIn and Facebook). Importantly because I need to save time, it also allows me to schedule a set of  Tweets into the future.

Canva. According to the Gods of social media, having a graphic will increase your clicks and retweets by something like over 1 million. or, some crazy number like that. Canva is a very easy to use web-based graphics tool that edits images and can even be used by your CEO.

Hootsuite. Hootsuite is a social media dashboard that allows you to work on and monitor Twitter, Facebook, LinkedIn, Instagram, WordPress from one place. It goes deeper so head over if you are looking for a ‘total’ solution.

HubSpot. HubSpot is a very big boy. Its inbound software will help your agency attract visitors, convert leads, and close customers. And, you can use it to woo new clients with your supreme inbound marketing expertise. As in, using HubSpot will make your agency a social media expert that actually has tools it can resell.

Klear. Klear (formerly Twtrland) delivers social monitoring, influencer marketing and competitive intelligence. Try it out for free. The full plate is a bit expensive. But, it works as a smart business development tool. You gotta spend money to make money.

Social Quant. Social Quant says, “Social Quant increases the size and quality of your Twitter account rapidly.” OK, how can you beat that? Try the 14-day trial and then splurge and pay them $50 bucks per month.

Twitonomy. Use Twitter as a competitive wrench. As Twitonomy says, “Get detailed and visual analytics on anyone’s tweets, retweets, replies, mentions, hashtags… Browse, search, filter and get insights on the people you follow and those who follow you.” Damn, go forth and use your competitor’s data against them, um, for you!

Last Sweet Tweet…

Use  “@” if you want to get someone’s attention. As in @peterlevitan.

More & More Online Resources

Just one more element of my Big Advertising Agency Resource List. Let me know if I am missing anything.

More and more resources are coming every weeek. Stay tuned.

 

Resources: Legal Advice For Advertising Agencies

Peter · March 14, 2016 · Leave a Comment

Easy Advertising Online Legal Resources

download masonLawyers cost money. Yes, this is way true. And, advertising agencies need lawyers. But, before you make that $300+ call, here are some websites to head to before you start down the per hour rat hole.

Agency Legal Protection. Sharon Toerek answers important legal questions like this: “What should we do to protect the agency during a new business pitch?”

Cornell University’s Library. Dig databases? You’ve arrived at a long list of legal databases by subject..

Legalzoom. From wills (get one!!!) through incorporation (for your new agency). Legalzoom is the leader in online legal docs. They are an ex-client of my agency and I have been using then for years. Know what, way back when, they were a great client and they loved to eat well in L.A.

Docracy. Open source legal documents.

Docusign. Legal online signatures. No more inky hands.

Find Law UK. Employee rights for UK workers.

4A’s On Compensation Agreements. Read this before you marry that new client. Consider this prenup advice.

Right Law. Employee rights explained. Yes, you have rights.

Shake. Quickly create, sign and send legally binding agreements.

More & More Online Resources

Just one more element of my Big Advertising Agency Resource List. Let me know if I am missing anything.

More and more is coming. Stay tuned.

Does Your Ad Agency Use Storytelling In Its Sales Pitch?

Peter · February 12, 2016 · 1 Comment

Agencies Do Storytelling

Why-Storytelling-and-Why-NowAdvertising agencies love the idea of being storytellers. Storytelling skills have become one of the ways that agencies offer agency brand differentiation. To be clear, here’s a definition:

Storytelling is the conveying of events in words, sound and/or images, often by improvisation or embellishment. Stories or narratives have been shared in every culture as a means of entertainment, education, cultural preservation, and instilling moral values.

I see three ways that agencies do storytelling:

The Agency itself has a story.

Frankly, this is an amazingly underused opportunity. Why don’t agencies use their own personal or business stories more often on their websites, in their new business programs and pitches? Need an example (yes, an obvious one): Ogilvy’s use of David. The

ogilvy2The Ogilvy website has David’s bio and the following ‘story’ about David that he wrote to his partners 3 years after he started the agency Hewitt, Ogilvy, Benson & Mather. He is writing about himself.

Will Any Agency Hire This Man?

He is 38, and unemployed. He dropped out of college.
He has been a cook, a salesman, a diplomatist and a farmer.
He knows nothing about marketing and had never written any copy.
He professes to be interested in advertising as a career (at the age of 38!) and is ready to go to work for $5,000 a year.

I doubt if any American agency will hire him.

However, a London agency did hire him. Three years later he became the most famous copywriter in the world, and in due course built the tenth biggest agency in the world.

The moral: it sometimes pays an agency to be imaginative and unorthodox in hiring.

My moral… This story reinforces the perception that Ogilvy is ‘imaginative and unorthodox.’ The agency delivers this compelling message neatly wrapped up in a founder story — not just saying it.

The agency sells its ‘storytelling’ prowess.

HubSpot published an interview “Have agencies Abused The Term Storytelling?” I did with Michael Donahue, ex-EVP of The American Association of Advertising Agencies about the art of brand storytelling . Is storytelling overused? My take? No, telling stories to help consumers build a better understanding of and a closer bond with brands works. However, how the agency describes this particular art must be distinctive. It’s the

[Read more…] about Does Your Ad Agency Use Storytelling In Its Sales Pitch?

Is The Stock Market Freaking Out Your Advertising Agency?

Peter · February 10, 2016 · Leave a Comment

As In… Are We Heading Towards Another Recession??

freak-out-and-trhow-stuffI’ve been doing this advertising agency thing for a long time. Started in the 1980’s and have gone through 5 recessions. Each time, clients got nervous. Many pulled their advertising back but some (the ones we loved) actually added to their budgets to gain market share when their competitors pulled back.

Here is a chart of the recessions. Of course, the most recent recession was a major killer coming just as digital media hit. Traditional agencies really got smacked down.

recession

 

 

 

 

 

 

 

 

Our 2016 401K Freakout

[Read more…] about Is The Stock Market Freaking Out Your Advertising Agency?

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