Peter Levitan & Co.

The New Business of Advertising

Search Results for: pitch

How To Name Your Advertising Agency: Part Two

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8 pitfalls to watch for when naming your baby BabyCenterThis is Part Two of the two part series on how advertising agencies name themselves. Other than the gyrations that agencies constantly go through with how to design and redesign their website; what and how they name themselves is one of their most important branding decisions. Part One is right here.

Just a reminder… I worked for three ad agencies. Two were “founder” agencies: Dancer Fitzgerald Sample (remember “Where’s the beef?”) and Saatchi & Saatchi (which bought Dancer) and the other was my very own Portland agency with its “current usage” name: Citrus. Or, as one of our creative directors thought was critical to our success, citrus, with a lower case “c.’

The Naming Process

Yes, there is a process to naming. I believe that selecting a name should be one of the most important elements of your new advertising agency’s marketing plan (a new name also works for agency’s that need a facelift and repositioning.) And, importantly, this process deserves your team’s best thinking and the time to ensure that you have selected the most powerful name possible. Most of us thought hard about what name to give our kids or the letters on our vanity license plates. Your company deserves this as well.

Objectives & Positioning.

You cannot begin to name your brand without establishing a clear brand positioning and business objectives which in the case of ad agencies sometimes just means sounding cool. In San Francisco alone, agency names span Muh-Tay-Zik Hof-fer’s self-love (OK, maybe its just name-play) to Argonaut’s promise of brand voyage (I assume) to Engine Company 1 (yes, you guessed it) to Butler, Shine, Stern & Partners and Goodby Silverstein & Partners’ authenticity (for old times sake) to BarrettSF and its hope for BarrettNY — I suspect. [Read more…] about How To Name Your Advertising Agency: Part Two

New Improved Advertising Agency Search Process: ANA / 4A’s

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Advertising Agency Pitching. Oh, The Uncertainty. 

Unfortunately, most client agency reviews come with a great deal of uncertainty. They shouldn’t, but that’s the way it is — or should it be?

The 4A’s and the ANA understand this issue and recently published a new set of guidelines for the advertising agency search process in their report “Agency Selection Briefing Guidance.”  From the ANA/4A’s:

The 4A’s and ANA believe there is an opportunity to further improve the agency search process by developing best practice guidance tools around the subject of briefings throughout the agency selection process.

And…

The ANA/4A’s task force believes that every phase of a review, or agency search, requires a thoughtful briefing that
provides specific direction to the agency. The review process should provide escalating information to the agencies as
the review progresses from the initial phases (e.g., RFI, RFP, credentials) to the later phases (including any strategic
and/or speculative work and finals presentations).

The report divides the search process into three phases.

  1. Initial list / RFI Phase
  2. Semi-Finalist RFP Phase
  3. Finalist Phase

This is an important tool that both agencies and clients should read and use for guidance. I think that when you are asked to pitch a new client that you share this document. While it might seem forward and somewhat pedantic of you, I’ll suggest that making the prospect aware of this ANA perspective will be proof of your professionalism and might even help the client tailor their process for success. And, hopefully, yours.

Attention, Interest, Decision, Action

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The savvy Rebecca Armstrong, Principle and Managing Director of Portland’s ad agency North, recently wrote the following to me about her perspective on new business. About creating a holistic approach. About creating the total package. About the realization that it takes a plan. I agree.

New business for me is a very holistic package of having an excellent creative and strategic reputation, having a strong, singular and differentiating POV, having vocal advocates in your existing client base, having kick-ass PR counsel, growing a culture of new business in the organization, chasing culturally-aligned clients yadda yadda. And then there’s the pitch, which is an art in itself.

It also requires…

alec-baldwin-glengarry-glen-rossAttention, Interest, Decision, Action

As Alec Baldwin said, “ABC. Always be closing.” Its called sales pressure. This may sound a bit intense. But, isn’t employing some form of ABC, maybe your own way of ABCing it, what it all comes down to? In the case of advertising agencies, I suggest keeping the new business machine working 24/7. Something we can do given our digital and social tools.

Full disclosure: I am not advocating a full-on old-fashioned way of doing that thing that puts fear into the hearts of advertising agencies — SALES. I am simply pointing out, by showing you one of your favorite movie scenes, that only employing passive business development efforts won’t work. You will need to find your own special sweet spot between doing nothing, building that holistic program and acting like Alec Baldwin.

http://www.youtube.com/watch?v=AO_t7GtXO6w

So… for some of my very own ABC, think David Mamet or, in my case, Mario Puzo. Just call me. Think Corleone.

Advertising Agency New Business Math Sucks

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Yes, I said it sucks.

Here is what I hear every day from large and small agencies. This should sound familiar. In fact, it is what I said when I owned my own agency and ran business development at Saatchi.

I  close 80% of all the face-to-face new business meetings I have. All I need is to get in to in the room.

We lost the pitch but we came in second.

Um… does this add up? Everyone came in second? Nope. So, like I said, advertising agency new business math sucks.

That said, it IS a numbers game. What do I mean?

Have an “A” list of 25 or so clients that you really want (and should have) and then market to them. Intelligently. Try this for ideas:  “13 Free Big Data Tools For Advertising Agency New Business”

Have a longer list of all the others that should know about your agency and find efficient tools to have them find you or for you to reach out to them, say about once a month. At the most.

If you don’t generate awareness, and this IS a numbers game, you are invisible. Invisible  isn’t good.

Lets talk. Its free. Oh, about 75% of the agencies that contact me wind up using my services. These numbers don’t suck.

 

How To Position An Advertising Agency – Part II

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position an advertising agencyWelcome to Part II of How To Position An Advertising Agency. Here is Part I. It’s a good place to start.

Positioning An Advertising / Digital / Design Agency Isn’t Easy…

I know, I’ve positioned and re-positioned my own agency and do this for my ad agency clients. Here’s what you are up against.

Most advertising and digital agencies do essentially the same things for a living. Once you’ve decided on advertising or digital or integrated or mobile you are up against many other advertising, digital, integrated and mobile agencies.

Most agencies fear not being able to offer all things to all clients.

Differentiation itself may not be all that it’s cracked up to be. “The general challenge for any brand in any market is that what is differentiating is often not motivating and what is motivating is not necessarily differentiating.” This from Michael Moszynski, CEO of London Advertising (more on London later.)

Clients have a very short attention span. They might not spend the time required to read your carefully crafted copy. In this case, being concise would help.

The Power Of A Powerful Advertising Agency Position

[Read more…] about How To Position An Advertising Agency – Part II