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Smart Agencies

What Your Ad Agency Can Learn From The Army

Peter · June 16, 2015 · Leave a Comment

Your Ad Agency Failed. Now What?

Army_Strong_WP.jpg  1024×768“Oh well” should never be the last thing you say when your ad agency failed to sell in an idea, a new advertising program or are at the losing end of a pitch for a new account.

“Oh well” simply isn’t good business. Advertising agencies need to have a process for evaluating what did not work (even what worked) in order to improve its business systems — including how to pitch ideas. I suggest that agencies consider using what the U.S. military calls, the After-Action Review (AAR). Here’s a definition from the Air Force:

An after-action review (AAR) is a professional discussion of an event, focused on performance standards, that enables soldiers to discover for themselves what happened, why it happened, and how to sustain strengths and improve on weaknesses. It is a tool leaders and units can use to get maximum benefit from every mission or task.

Stop Failing… The Ad Agency After-Action Review

[Read more…] about What Your Ad Agency Can Learn From The Army

I Bet You Can’t Read or Write (Code)

Peter · June 14, 2015 · Leave a Comment

Sorry, You Can’t Read Or Write

FT-150611-Ford.png.CROP.promovar-mediumlargeI can’t and neither can you (most likely).

Here’s the drill. Virtually everything you do or rely on these days is controlled by computer code. You phone, your car, your house, your relationships, your business, your leisure time, even the blueberries you buy in summer.

Oh, and, yes, all of the advertising and marketing you do for your clients.

So, when I say you can’t read or write I mean…

You Don’t Know What Code Is (And, Of Course, You Can’t Write It)

Look, I get it. My companies published early stage websites in the 1990’s = New Jersey Online (for Advance Publications) and websites for Microsoft and Nabisco (ala Journal Square Interactive). I was also the founder and CEO of ActiveBuddy which did natural language years ahead of Apple’s Siri and my agency dove head first into all things digital.

BUT… I am code  illiterate and it held me back.  [Read more…] about I Bet You Can’t Read or Write (Code)

Truth In Advertising: Adweak’s New Video Series

Peter · June 10, 2015 · Leave a Comment

Adweak Tells It Like It Is

adweak   Twitter SearchI’ve been laughing along with Adweak on Twitter – @adweak – for awhile. I, and I hope you, need a bit of a humorous reality check about the occasionally pompous ad folk out there. No, not you, those other spophisticated ad folk.

Need an example of a Tweet that hits home? I owned a small agency. We often hyped how nimble we were. Here’s Adweak’s take.

Adweak ‏@adweak Jun 9

BREAKING: Small Agency Just Keeps Reiterating How Nimble They Are Throughout Entire Pitch Meeting

Of course, when I worked for the huge Saatchi, we hyped all about our BIG size and zillions of offices. Small is beautiful. Big is beautiful. Whatever it takes to land that new account.

Now, Adweak has branched out from under cover of Twitter to the world of videos (see below.)

But First, Who Is Adweak?

Well, they won’t tell. But, they now want some of YOUR money. So, I guess if you want some of their great writing + humor, they are willing to let you in. Here are two things they say on ‘their’ website. first what they are selling today and second how they tell their story.

The SELL: Adweak is branching out. While writing snarky tweets about marketing and advertising for nothing is fun, getting paid is even more fun.  To that end, we’ve launched AdweakWorks. We’re a creative team of writers, directors and producers available to work with agencies or directly with brands.   

If you want to work with us, click below. (Here is the link…)

The STORY: Adweak began many years ago in the form of a website very much like The Onion.  In fact we literally said, “We should do an advertising version of The Onion.”  So the Adweak.com domain name was purchased and within 24 hours our first edition was uploaded to the World Wide Web. We never really planned to publish new editions on a regular basis but the site started gaining popularity and we, for some reason, felt compelled to keep it going.  We published new editions on an irregular basis for several years and ultimately let Adweak just sort of fade away.

In October of 2013 we decided to resurrect Adweak in the form of a Twitter account.  But this time there was an objective beyond just providing comic relief to the marketing and advertising masses.

We wanted to see if we could do exactly the opposite of what every self-proclaimed social media guru advises and still be successful.  For instance, we don’t follow anyone.  We don’t retweet anyone and we don’t reply to anyone.   We post updates multiple times a day (we’ve even posted multiple times within an hour).  And we’ve never used a hashtag.  These are all ill-advised according to the social experts. We have over 8,000 organic followers and not a single one of them has been purchased.  In fact we haven’t spent a penny promoting @Adweak.

So is @Adweak a success? Here are the stats.

-Over 470k impressions per month.

-1.5k Retweets per month

-1.7k Favorites per month

In our humble opinion, that’s not bad considering the aforementioned social infractions.  And to us, it proves once again that people have, and always will, consume and engage with great content.

OK, Back To The Videos.

Here are two sweeties. First is what I’ll call social media roulette. The second is the obligatory exit interview — the one that HR makes you do (and, yes, that is a pissed off Portland copywriter). All can be seen right here on YouTube.

 

A Deep Look At Advertising Agency Compensation

Peter · June 10, 2015 · Leave a Comment

A Down Under Look At Advertising Agency Compensation.

copy-darren-woolley2Here is some real fine thinking on the ‘art’ of advertising agency compensation from my book on pitching and presenting: The Levitan Pitch. Buy This Book. Win More Pitches. Do yourself, and even me, a favor and buy the book right HERE.

For a very experienced expert opinion on compensation (or as the down unders say: remuneration), I turned to Darren Woolley, Manging Director of Australia’s TrinityP3 for his views on something of great import for agency CEO’s that often wake up in the middle of the night screaming…

“Show me the money.” 

FYI: Darren is one of 20 advertising search agency consultants in the book that offered their perspective on what agencies do right and wrong when pitching for new business.

TrinityP3.

Trinity P3 is an independent strategic marketing management consultancy based in Melbourne, Australia. Trinity P3 works across continents and has 40 of Australia’s top 100 advertisers using its services. The company assists marketers, advertisers, and procurement with agency search & selection, agency engagement & alignment, and agency monitoring & benchmarking to ensure maximum performance in efficiency and effectiveness of their advertising and marketing budgets.

Darren started as a scientist, got into advertising as a copywriter, and ended up a creative director. After 15 years in advertising, he realized when marketers and their agencies work well together, amazing things happen. He established TrinityP3 in 2000 as an independent marketing management consulting company that provides marketers and advertisers with benchmarks, training, and advice on how to maximize the value of their marketing budgets.

Regardless of your word choice (and you will see that it is important), how agencies get paid and then make a profit needs to be considered during the agency selection process. Too often agencies wait until they win an account to find out if the account will be profitable.

PL: You work across Asia. Are agencies compensated differently in each country? Is Asia different than Europe or the U.S.?

Darren: The basic methodologies for agency compensation are the same. The application varies across various markets due to culture and government legislation. As you may know, in Brazil, media and creative are legislated to remain together, and the commission system therefore continues to dominate. In India, the commission system is also more common than other markets. But increasingly, the dominant model is the resource-based model as either a retainer or project basis.

The other big difference is the term used. In the UK, and markets previously colonized by the UK, it is called remuneration. While US and US influenced markets call it compensation. While many think the two are synonyms, the fact is they reflect different philosophies. To compensate is to make good for damage or loss. While to remunerate, is to reward for output of effort. To provide the difference, you would never say, “The middle-aged executive purchased a new sports car to remunerate for his flagging libido.”, would you?

But I think that the use of each reflects a very different underlying philosophy to the payment of agencies for their services and efforts.

PL: What compensation systems are your advertiser clients using?

Darren: The majority of clients are moving to or sticking to a resource based model using direct salary costs multiplied by the overhead and profit multiple, and divided by the number of annual billable hours in the year. In fact, it is so common that we created a smartphone business app that calculates the cost of resource per hour using this approach or can calculate the salaries from the hourly rate. It is called the TrinityP3 Resource Rate Calculator and is available in all smartphone app stores. This is not an ad, as the app is free.

[Read more…] about A Deep Look At Advertising Agency Compensation

Advertising Agencies And A New $13.4 Billion Client

Peter · May 11, 2015 · Leave a Comment

photo_front_million_dollar_billNothing should warm the soul of advertising agencies like the introduction of a brand new multi-billion dollar category. The newest category (well, new to legal marketing, not eons of inhalation) is the marijuana industry.

A recent study from IBISworld states:

  • IBISWorld projects the marijuana industry to generate $13.4 billion in revenue in 2020, up an annualized 30.3%.

[Read more…] about Advertising Agencies And A New $13.4 Billion Client

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