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8 Point Ad Agency New Business Check List

Peter · August 2, 2013 · Leave a Comment

Advertising – Digital – PR agency new business isn’t hard to do. Its just hard to do… it. Here’s a check list to help.

I talk to a couple of agencies every week that tell me that they can’t seem to get their new business engine cranking. Unfortunately, the one thing that really gets them moving is when they lose an account. Well, guess what, its a bit late if you wait for fear to get motivated. This might help… ask yourself how many months you can run your agency on your credit line and the cash you currently have in the bank? If its less than six, get going.

The 8 Point Ad Agency New Business Check List

1. Determine what clients you want. Make a short, manageable list using a set of decision making criteria. The criteria could include client categories, size of account, geography, clients that have demonstrated a love for what you do (as in advertising or PR), clients that could use your speciality (assuming that you have a specialty as in mobile or millennial marketing or Instagram) and decide if the account is too much of a long-shot like Coke.

2. Build a detailed contact database of your Group A clients and then a Group B that includes all the others that you should stay in touch with via automated tactics like monthly emails. Use compiled databases like The List Inc. (well worth the $) and brute force using international workers from oDesk or a local intern to build and manage the list.

3. Have something valuable to say. No, this does not mean sending your latest work. This means sending things that might be of value to the client. OK, if you are targeting Intel in Hillsdale and your new CD worked for Intel in San Jose then send her related work and a case history. Or, if you are really bold… tell them you repositioned your agency to meet their needs like my friends at RedSquare. Click on this link before mid-September to see how they exploded their agency to become more competitive.

4. Get the word out at a scheduled pace. More personalized outreach to Group A and once every month or two to Group B. Be top of mind when the client wakes up and needs a new agency.

5. Make friends. Don’t be passive. Its OK to call up Group A for a chat and maybe invite then to a local gig or online seminar if they are far away. Here is my take on cold-calling, um, warm-calling.

6. Be social. Smart social media marketing will work to bring leads in. But, by smart I mean that you have to build an active social media plan based on meeting your target market’s needs. Do not write tons of content about what interests you or your staff party. Write about what interests the prospect and hit their pain points. Learn to really love LinkedIn and Twitter (use your prospect’s hashtags to subtly get noticed by them.) Facebook is for your employees, your future clients and you mom. And, I love the ease and Google friendliness of Pinterest — is your agency in my agency directory?

7. Be consistent. Have a master calendar and stick to it. The good news here is that the other agencies are not doing this with any consistency.

8. Be active. Passive does not work.

–> Oh, here is a bonus #9: If you really need a kick in the biz dev butt or hand-holding and/or the advice of someone who has been there and done it globally at Saatchi and locally for his very own agency… contact me.

WTF? A Quick Business Development Lesson

Peter · July 29, 2013 · 3 Comments

Last week I got two calls from clients looking for advertising agencies. Two in one week and I am not positioned as an agency search consultant. Interesting. OK, it might have something to do with my agency directory.

One is based in Europe and is developing an international pet brand, they are well-funded and I am turing them on to a great west coast digital shop.

The other is in LA and is an HBA account that’s associated with Target (you know, that small retailer.) They are looking for an agency that gets women and retail. So, I call a friend at a “creative” Portland agency with the right national experience, tell her about the account and she tells me that her CEO will call me. He calls me a couple of hours later and leaves a message. I call back within minutes but he’s not there.

Here is the WTF part. I made the first call last Wednesday (today is Monday), he called back that afternoon… but, no word since then. What? I call with a Target related lead and its been 4 days since the first call and he hasn’t made contact or looked all that interested.

Are creative agencies lame? Or, just this case?

All I know is that when I get a lead, I jump on it. Don’t you?

How to Get Rich In Advertising

Peter · July 18, 2013 · Leave a Comment

I really don’t have to mention that it has gotten harder to get rich in the advertising, design, digital and PR business. The good old days of the 15% commission are long gone (I lived it and it was glorious – Bordeaux anyone?) But, some agencies and agency workers are winning big accounts and are making big money. There are a some smart paths to get there.

Here are a five get rich ideas:

Be creative. Everyone want some creative. But first, some thoughts on being “creative.” I can’t tell you how many agencies are all about being “creative.” That’s their agency positioning (peruse my agency directory to see what I mean.) The problem with this positioning is that its universal, isn’t distinctive, is way too subjective and well, sorry to say this but most agencies are just not creative enough to live up to the promise. That said, some agencies can pull this off. 72andSunny is one of the current crop of creative agencies and they are making real money. They are helped in highlighting their creativity by showing you work for famous clients, i.e. Samsung on the SuperBowl. And, this points to a key issue. There are lots of creative agencies but because we all need that extra kick that come from having a famous campaign (you know, one that runs nationally) many of the creative efforts fail to get noticed. I know lots of small regional agencies that do creative work but don’t get noticed. So, you smaller agencies, you need to add famous to creative to get the moolah.

Be famous. Wow, this is a tough one and it could be the basis for a Seth Godin book (um, maybe it has been i.e. Purple Cow.) The deal here is that most agencies look and sound like all the other B&W heifers. Despite telling all their clients that they need some brand distinction, most agencies can’t muster this up for themselves. So, how to become famous? You are going to have to pay me for that advice. But, here is what not to do. Have a me-to agency positioning and website. Have a navel gazing agency blog. Tweet about your fun party. Spend heavily on cool offices. Have an on again / off again business development program. Don’t write targeted thought-leadership white papers, SlideShare presentations, blog posts. Don’t create a compelling agency story. Don’t build lists of prospective clients and the press to consistently beat your chest (but be cool and respectful.) Don’t have a really creative Creative Director (yikes, a tough one, Ja?.) Don’t understand the shift to mobile. Don’t work really hard to overcome the Accepted Consumer Belief that lives in the hearts minds of you target CMO audience: They don’t really care all that much about you. Unfortunate, but often very true.

Win a car account. According to Ian Beavis, Nielsen’s EVP, Global Automotive Group and ex-auto CMO: “good luck.” But, some agencies, mostly specialists, can get into the door. Do the right thing (a not me-to thing like JESS3 – see next) and you could actually begin to get awareness for your creativity. Do this specialist work in automotive and WPP just might buy you.

Own a segment. I wrote about JESS3 in February. They became famous – and a winner of famous accounts – for being focussed:

“JESS3 is a creative interactive agency that specializes in data visualization. JESS3 continues to push the limits of what creativity and storytelling mean, providing services that range from UI / UX, animation, and social media strategy to developing large-scale installations, data visualizations and infographics.”

You could pluck out a specific specialty and go for it. Why not? I’ve been writing about mobile and Vine. But, there are lots more specialties and many hit the big industry pain-points. Hey, why not just forget about winning the Honda account and become the best B-to-B agency. There is more bordeaux in that than in full-service.

Marry up. I’ve seen this one work well.

Then there is just plain hard work. As Yahoo! Finance reported in “Daily Habits of Rich People“:

“If you think becoming rich is about luck, think again. It may have more to do with how you spend your day, beginning with the hour you wake up.

Financial planner Tom Corley spent five years observing more than 350 “rich” and “poor” people, how they live, work and even sleep and captured them all in his book, “Rich Habits: The Daily Success Habits of Wealthy Individuals.” He defined “wealthy” as earning at least $160,000 annually and holding at least $3.2 million in assets. “Poor” was income under $30,000 a year and less than $5,000 in assets.”

The article goes on to mention: early risers, no long lunches, calorie counting, no gossiping and (my favorite) limited Internet.

Back to rich.

Yes, you can make a decent living (and have fun) in marketing services. But, if rich (like Internet rich) is what you want then you’ll have to have a plan. A critical element of that plan is to have, guess what, a business development plan. This, for some very hard to understand reason, is something that the great majority of agencies do not have.

I had one (at both Saatchi and my own agency) and Corleone can help you get there.

Advertising Agency New Business: A Personal Update

Peter · July 8, 2013 · Leave a Comment

Here is a quick update on my business life. I’ll be on a mini-vacation for a few days

I started to spin my advertising agency new business consultancy in late February by loading up my blog with keyword-rich “advertising agency new business / business development” content. Around 15,000 words or so in a bunch of evergreen posts. I supported that with tweets for both my posts and retweets of related content.

I continued the inbound marketing program and now have 184 posts.

These include some posts for my book, “Boomercide: From Woodstock to Suicide.”

I supplemented this blog activity with guest posts on the highly visited AdPulp and Agency Post blogs to start to build authority for peterlevitan.com. I am about to start a series on how clients find and choose advertising agencies for Advertising Week.

I built my agency directory on Pinterest using outsourced help from a great assistant in the Philippines via Odesk. Agencies now send me information on their new websites.

I wrote a couple of white papers on how Seattle and Portland agencies use (or overuse) social media on their websites. I sent Seattle Advertising and Digital Agencies and Their Love Of Social Media and a Portland version to Seattle and Portland agencies. Despite how brilliant the white papers are, I wasn’t surprised that I only got a 5% response (as in, thanks.) Why? I don’t think most agencies are sufficiently curious about virtually anything but their own navel. (I only write this because people tell me they enjoy my honesty.)

I built “The Good, Bad & Ugly”, a review of advertising agency websites and how agencies do or do not do a good job with their interent marketing programs. I gave the presentation in New York to a group of agency CEO’s. I’ve also presented this in Seattle and Portland.

I just ran a Portland Advertising Federation event about how advertising agencies could / should work with startups. I interviewed folks from Wieden+Kennedy, Nike+ Accelerator, Upstart Labs and Opal, a very smart startup that a Portland agency launched. I’ll put up a video of the event soon.

The net.. you may be wondering…

I’ve got agency clients in Portland, New York, Milan and hopefully Mexico (care of a recent discussion.) I’ve worked on agency positioning, agency Internet marketing, the whole enchilada advertising agency new business plan and RFP management. I have been helpful. Or, so they say.

So far so good.

Nerds.com

In the past couple of weeks a team from the USA (that’s me plus one more), Budapest, Scotland and soon Thailand launched a new business based on the power of Nerds (its now in alpha for testing purposes.) Nerds will be a website plus for nerds and the people interested in the nerd lifestyle. Here is a great stat… there are over 2.2 million monthly broad matches for the term “nerds” on Google. This is huge. The goal of the business is to “own” the idea of nerd and monetize it. I’d like to think of the business as becoming a Fab meets Betches Love This.

Cartoon / comics characters might play a large role. We are meeting with a LARGE animation company this week in California. Who knows.

This is my third internet start-up.

Stay way tuned.

Zillow Advertising: Nice New TV Commercial. But, Why Leave Seattle?

Peter · June 18, 2013 · 1 Comment

I am starting to think about selling my house so I’m paying attention to real estate advertising. This new TV spot from Zillow hit the spot. The :60 commercial stars a family looking at homes while living in different cites. Or is dad just traveling? You’ll have to see the surprise (rather) emotional ending to find out.

The commercial was done by Deutsch L.A. (a nice advertising agency.) But, since Zillow is in Seattle…. why did they have to take their business out of town? I could have helped them find at least 5 very sharp agencies in Seattle. They live here.

I’d love to ask Amy Bohutinsky, Zillow’s chief marketing officer, the Seattle question. Did she explore the Seattle ad agency market? Did Seattle advertising agencies not reach out – she’s been at Zillow for 7 years? Did she need a trip to L.A.? I know a few sensitive ad folks up north who could have delivered some sharp advertising — and a decent bottle of wine. When I owned my Portland agency it always killed me when a local client took their business out of town.

Oh well, never mind – at least it’s well-branded advertising that tells a sweet story. Here is a smart quote from Amy about the ad strategy:

“The process of shopping for a home today is emotional, absorbing, collaborative, and driven by technology and online information. Our ‘Find Your Way Home’ campaign chronicles modern families in ways that most home shoppers can relate — as they search for not just a home, but a place for their life to happen.”

https://www.youtube.com/watch?feature=player_embedded&v=o3bZz_JHyyA