Insights

The Smart B2B Referral Program

Peter · April 5, 2020 · Leave a Comment

The Advertising Agency B2B Referral Program – Is That Enough For Growth?

Is it just enough to “hope” that your B2B referral program will work? The answer… no.

I just got off the phone with an advertising agency leader in London. I asked, “Where have you been getting business?” he answered, as do most advertising agencies, “from our B2B referral program.”

Ah, the Holy Grail of the B2B client and customer to a friend to agency advertising agency referral. The idea is that if the agency does a good job, a client will tell their friends about the agency. Well, at least for this London agency the good news is that they have an actual, active referral program. Most advertising agencies just hope that their clients will make the nice, sweet B2B referral via fate. I am not a fan of “fate.” You shouldn’t be either.

The B2B Referral – Good News

Don’t get me wrong. I love referrals. The right referral will result in getting the right client with little initial business development effort on the part of the agency. Win-Win. It’s like a great blind-date. Does anyone remember the blind-date? As in, you didn’t meet (as in see and scope out) the referred person until he sat across from you at the Starbucks table? Very 1980’s. OK, back to now.

The B2B Referral – Really Bad News

For the vast majority of advertising, digital and on agencies is that counting on referrals is bad news.

Two simple and compelling problems:

Referrals are not predictable. Never. This isn’t good for any sort of business planning.
Referrals are not scalable. Never. This isn’t good for any sort of business planning.

Counting on referrals is a fool’s game.

I’ve counseled agencies on how to actually plan and manage a referral program — !!! As a part of their overall business development plan. Here are links to a couple of earlier blog posts about the advertising agency referral program.

Three – I will admit it – smart, effective and easy to activate B2B referral strategies from prior business development posts just for you.

Six Business Development Referral Strategies

A key to having a robust referral strategy is to make sure that your current clients are aware that you actually want referrals. Referrals from happy customers are one of best ways that B2B companies generate new business. OK, this isn’t a huge surprise. However, what is surprising how few companies have a dedicated strategy for fostering these valuable personal hand-offs.

Why Did Adidas Steal Its Advertising Slogan

Peter · March 29, 2020 · 2 Comments

Clearly, Nothing Is Impossible For Adidas

Saatchi & Saatchi Advertising reported yesterday that they held an online all-hands London office meeting. They pointed to the now decades-old agency inspirational slogan: Nothing Is Impossible as proof that they get things done.

What most Saatchi people do not know is that Adidas outright stole the Saatchi slogan, flipped it and used it for 20 years.

A bit of history for Saatchi people (and anyone that will find this micro-story about client theft) a bit amazing.

Back in the 1990’s Maurice Saatchi and I pitched for the global Adidas account.

We lost, read about the sad yet very teachable moment here, The Worst Advertising Presentation – Ever.

We Lost. But Adidas Stole The Saatchi Slogan.

After the pitch, Adidas quickly stole our Nothing Is Impossible slogan and flipped it to Impossible is Nothing.

Insane. Right?

I never got an answer to this simple question… Why Did Adidas Steal Its Advertising Slogan?? I did ask Adidas. Maybe I should have asked their agency, Leagas Delany.

What I Learned At Saatchi & Saatchi Advertising

Peter · March 27, 2020 · 3 Comments

What I Learned At Saatchi & Saatchi Advertising – It Is Relevant Today

I got educated at Saatchi & Saatchi Advertising. I applied my learning to a career that spanned GM of the Minneapolis office, to London and Europe, to two Internet startups, my own agency, and now my advertising agency consultancy.

I learned about the power of strategy, kick-ass creative, being ballsy and going for it. This is what an agency principal and her agency must use today.

First A Bit On Dancer Fitzgerald Sample

I started my advertising career at Dancer Fitzgerald Sample as an AAE on the large General Mills account. Dancer was known as DFS. It was New York’s largest advertising agency and lived in the glorious Chrysler Building. Its clients also included P&G, Toyota, HP, Wrangler, RJR, Nabisco and other biggies.

During my tenure, it was named Agency Of The Year and had a new business pitch winning streak that hit baseball Hall of Fame numbers… .900+. The agency was also known for delivering highly effective advertising including Wendy’s “Where’s The Beef?” and the advertising that launched Toyota and sustained its growth.

The agency spent a great deal of time and money nurturing its account executives with a weekly training program that pumped out the best AE’s in the industry. DFS taught me how to write brand-building strategies, run a profitable account and how to deliver exceptional account service. It also taught me how to work within an empowering, yet nurturing a culture where everyone loved their job. This last point was driven home every month when we celebrated employees who had worked at the agency for 10, 20 and even 30 years.

I was about to learn even more. [Read more…] about What I Learned At Saatchi & Saatchi Advertising

Advertising Agency Coaches Are Pissing Me Off.

Peter · March 22, 2020 · Leave a Comment

$2,250 For A Group-Grope Agency Coaches Seminar? Huh? WTF!

One of my California ad agency clients passed on an advertising agency coaching seminar email solicitation. She pointed out that two of my advertising agency coaching competitors are charging $2,250 for agency managers to attend a group seminar on agency positioning.

Huh, I’m like, $2,250 to attend a group-grope seminar that could not conceivably recognize or focus on the very unique challenges confronting individual, as in very different, advertising agencies. I’m sorry about two things. 1) Any coach charging $2,250 for what I am sure is a mostly canned seminar (just an educated guess) and, 2) Exploiting today’s advertising agency marketplace in a very challenging environment. By the way, here is a bit of the sales copy:

Experience the confidence that comes with deep expertise

Orientation Week: April 20, 2020 / All course modules drop the week of April 27, 2020 / $2,250 per firm principal

OK, Back To Free.

Do you need confidence? I got that.

I’ve been advising and coaching my ad agency clients that they need to hug their best clients. Give some strategic thinking away. No obligation. Provide brilliant, market-relevant insights for free. Keep your client friends close.

Hugging. Here is my free offer. I’d love to talk with you about your current issues and, importantly, opportunities – for free / no obligation. We’ll do some scenario planning I know its tough out there – I have some rather strong ideas.

Want to move fast? Contact me here.

By the way, if you would rather spend the $2,250, let me know and I will pass you along.

Leverage My Real Market Experience.

I’ve lived through multiple advertising recessions (albeit lighter than this one) as a Fortune 100 account director and director of business development at Saatchi (New York & London); the CEO founder of two Internet start-ups and the owner of my own two-office advertising agency. Plus, I’ve custom coached over 100 advertising agencies.

SO — Take me up on my free offer. Let’s talk specifically about your agency (not in a mushy group format), its management, staffing, clients and growth potential. Use my brain and experience to help you to position your agency for long-term success. For free. I’m giving back. Zero obligation. Keep your $$$.

One more thing, if you are looking to reposition your agency, as in being specialized, something I think you need to be doing right now, here is a link to my very well-read post on advertising agency positioning.

Important Question: Are You Coronavirus Stressed Out?

Peter · March 18, 2020 · 1 Comment

Stressed out?

Of course, you are. Since I am not a stress expert (other than having experienced it and solved it). I am NOT going to point out that running an advertising agency or working at one today isn’t fucking high stress. Of course, it is. This is way bad. Bad for your career. Bad for your bank account. Bad for your emotional outlook. Bad for your family and worse – bad for your health. A quote from Healthline:

Anxiety can trigger your flight-or-fight stress response and release a flood of chemicals and hormones, like adrenaline, into your system. … This can weaken your immune system, leaving you more vulnerable to viral infections and frequent illnesses.

The drill is if you are like me, the news is fucking intense. The work environment is intense. This working from home is, kinda not fun after a while and your job is kinda precarious.

Advice — Meditate Now

I will offer my experienced perspective on advertising agency and internet start-up related stress-management-business-guidance soon (I had lovely stress from global agency lunacy, CEOing two internet start-ups and owning my own agency).

In the meantime… I strongly suggest that if you do daily meditation today… At least you SHOULD consider it. Caps for emphasis.

A Mega Tip – How To Meditate!

How to start? Check out the extremely well-reviewed and super downloaded “meditate app” —- Waking Up from Sam Harris. It is the #1 meditate-training app in the app stores. I don’t make a dime from this so please check it out – for my own universal advertising-agency-universe mental health.

Get this app.

Waking Up

That’s it. Do this.

Peter