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What Does Your Advertising Agency Charge?

Peter · April 12, 2016 · Leave a Comment

What Does Your Advertising Agency Charge?

There, I’ve said it twice. Why? Because if you are an agency owner or partner or business development director or creative director and you have no clue how to charge for your advertising agency’s services, you are way screwed my friend.

As an agency owner and CEO, I participated in all large pricing surveys. Why wouldn’t I? Throwing darts at the wall of agency fees is not a good plan. It won’t help you win new accounts and will undoubtedly not help you become more profitable. Most of the RFP’s you deal with demand that you get your pricing right. Also, I’ve occasionally used these numbers with existing clients to show them that my agency’s fees were in line with the world of competitive agencies.

This industry-wide survey will immediately become a “best of” because it comes from our friends at HubSpot and the results will represent a huge number of agency respondents. Here is the link to the Agency Pricing & Financials Survey and here is what HubSpot is saying…

How do you determine the price for your services and track the profitability of your agency?

Some might call it an art, but that might be because many agency leaders are forced to get creative with their approach. They have very little industry data and best practices to tell them how to price their services, what metrics to track, and how to improve their business practices. 

In addition, profitability in agencies has become a more difficult thing to achieve. Margins are shrinking, and clients can ask for more for less because of the number of competitors. 

Do It. It Takes Ten Minutes.

Taking this survey will help all of you agency leaders better understand what pricing models to use.

The survey takes ten minutes. You’ve got ten minutes to get into your competitor’s heads, right?

 

 

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.

 

Why I Love Vice, Motherboard & SmarterChild

Peter · March 18, 2016 · Leave a Comment

Motherboard, SmarterChild And An Interview

05103d07677ffe8262386a7073527a03a791bc-wmI moved on from founding NJ.com, one of the first online newspapers, to starting the company ActiveBuddy with Robert Hoffer (brains) and Tim Kay (CTO). I was the CEO (LOL).

By 2001, we raised over $15 million and became famous. SmarterChild, our proof of concept instant messaging app, ultimately had over thirty million IM relationships across AOL and other IM networks. People loved that they could talk with a computer that knew and remembered them and delivered instant results in the pre-WIFI age.

When I meet people in their late 20’s, it is not surprising that they played with SmarterChild. Apparently, Motherboard’s Ashwin Rodriguez did too.

SmarterChild had a persona and personality. It pains me that 16 years later, Apple’s Siri and Amazon’s Alexa are way boring.

In fact, our first paying customer (for the technology) was the band Radiohead.

The Article

Here is some copy from the top of the Motherboard article.

SmarterChild was a robot that lived in the buddy list of millions of American Online Instant Messenger (AIM) users. He was, as far as I know, my first interaction with artificial intelligence. I was a ripe 11 years old when SmarterChild was “born.” As we reflect on making machines in our image, and look to the future of AI, I can’t imagine this journey beginning without SmarterChild.

You could do many useful things when pinging the SmarterChild robot. Technically, I could ask him for stock quotes, movie times, weather, or other useful information. (When you asked whether SmarterChild was a male or female, I believe the answer was deflected. I always referred to the bot as a “he” in my mind. Perhaps because we try to see ourselves in technology. Maybe at the age where it was awkward to talk to girls, I could not fathom the pressure of speaking to a female robot.)

Read on to learn more. And… to hear me actually sound intelligent as one of the ActiveBuddy team just told me.

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.

Resources: Online Education For Advertising Agencies

Peter · March 8, 2016 · Leave a Comment

Online Education For Advertising Agencies…

mosOnline education, it sounds a bit daunting or even boring. But, here are some websites that will advance your knowledge and possibly intelligence. And, isn’t that what we all need? Collectively speaking that is.

Oh, and don’t forget your career.

  • Codecademy. It is time for you to learn to code. At least, start to sound like you care to your CTO.
  • Coursera. Lots of career advancement courses. Like attending a Wharton course on marketing.
  • Freakonomics. Listen, learn and out-smart your clients.
  • Google Online Marketing. Learn from the leader.
  • The How. Learn from entrepreneurs.
  • HubSpot Inbound Training. Get on the inbound marketing bandwagon or, frankly… be left behind.
  • Khan Academy. Free courses from programming to economics to finance to what you should have learned in the 8th grade.
  • Launch This Year. Get ready to launch your online business — this year.
  • The Lean LaunchPad. How to Build a Startup
  • Lyndia. Yikes! Go forth and learn… 4,354 courses · 169,690 video tutorials
  • Marketing @ TedTalks: Prefer video? here are the top TedTalks on marketing.
  • Mixergy. Entrepreneurs training  entrepreneurs. Or, how to start your own advertising agency.
  • Skillshare. Courses designed for the creative in you.
  • Startup Notes. Need inspiration? Hear startup founders tell their personal stories.
  • Smart Passive Income. Let Pat help you leave advertising, and go live on a beach while watching your PayPal account grow.
  • Startup Talks. More startup videos videos.
  • Udemy. You name it, they teach it.

More & More Online Resources

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

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