Are Your New Business Programs Invisible?
How do your future clients find you… or not? Here are 28 rather basic questions you should be asking yourself — often: [Read more…] about Is Your Advertising Agency New Business Invisible?
Peter · · Leave a Comment
How do your future clients find you… or not? Here are 28 rather basic questions you should be asking yourself — often: [Read more…] about Is Your Advertising Agency New Business Invisible?
Peter · · Leave a Comment
I sat down recently and listed a few recommendations for how to start and grow an ad agency. By the time I finished, I got to 35 pieces of advice. I put 3 below. The other’s are in the mini-Eish-book “26 Ways To Grow Ad Agency Profits Business-building tips from over 30 years running ad agencies.”, which you can get by subscribing to this blog using the form at the bottom of this post. I like getting subscribers because it makes me feel loved and it will provide me a list of folks to alert about my new book on pitching which will be published this spring.
{ You will see that I have narrowed the list to 26 major points from 35. I can’t change the URL (the 35 number) without confusing Google.
Stay very hungry and have a solid business development plan. Business development is a 365/24/7 priority that needs a solid plan, an active approach and constant senior management attention. Too many agencies wait until they lose a large client to reactivate their business development plan. Speaking of plans. Most agencies do not even have a business development plan. Crazy!
Business development plans need to have clear objectives, lists of must have and should have clients and marketing strategies to target and reach out to these potential clients. Reach out, start to make friends and stay in touch. One of my worst new business experiences was that despite my agency’s work for Nike’s national college and Major League Baseball programs and our sports marketing for University of California and Oregon State University, we were not invited to pitch Portland’s MLS team the Timbers because our lead sports account manager hadn’t kept in touch with her friend who was leading the pitch. By the time we heard that the account was available, we were too late.
Think niche. Even if you are a full-service agency, consider leading your new business program with a high-interest niche service or product. The concept of less is more works for agencies as well as advertising messages. Citrus used interest in “invisible QR codes” (that were developed by our client Digimarc) to get us into companies like Nestle and Kraft. We never would have gotten the first meeting with Fortune 500 prospects if we simply said that we were yet another me-too “full-service” shop. A niche-pitch will get you in the door. Once in, work your new business magic.
B2B makes money. Even if you love that sexy consumer work, think hard about working with more B2B clients. B2B is a less crowded playing field; B2B clients have on-going budgets; positive ROI drives incremental spending and smart B2B clients will make you more digitally savvy. I am continually surprised at how many agencies leave B2B work to so few.
Other sections include Planning, Attention to Detail, Client Management, Your People, Digital Chops, Marketing and A CEO Thought. This last section is about the fact that it can be lonely at the top.
Check it out. Don’t forget to get the rest of this document at the bottom of the post.
Peter · · Leave a Comment
Its my guess that the profession of “advertising” is slightly more loved by Americans than “Congress.” It is therefore fascinating that David Droga, an advertising industry superstar (according to the people that make these pronouncements), has chosen to use his access to Esquire Magazine’s Best and Brightest series to tell the other people in his industry that they are lazy. L A Z Y. Cool! And, speaking for the advertising industry, thanks so very much.
I’ve read Droga’s “Where Advertising Will Go Next” a couple of times. I’ve been trying to assess the value of his spew. I can’t seem to find much in it beyond enjoying his art of self-promotion. Lets parse some of the key Droga thinking. Here are the article’s section headlines and my perspective.
Droga says that today’s advertising “is more about interruption and intrusion than compelling narratives or a good laugh.” He says, advertising agencies don’t add value. If anything, agencies often take it away.” OK, I’m sorry, is there news here? Have I missed over 70 years of interruptive radio and TV advertising? Did viewers ever want leave their programming to go to a commercial break? And, speaking for the industry, thank you for alerting all of us to the idea that delivering a compelling story is a good idea.
Droga rails at today’s lack of creativity. He says, “The ingredients for great advertising haven’t changed since the Mad Men era: Brands win if their advertising is relevant and people like it.”
The fact is most advertising has never been great or even very good, or worse, effective. OK. I’ll give the industry a break and say that 50% is good. We also know that 50% of all advertising dollars are wasted. I’ve always agreed with that ratio and am not sure that the times have changed. So, David, where is the news here?
Why is 50% of all advertising wasted? Droga tells us its because,
No industry works harder at being lazy.
Droga says he can tell the difference between the 50% of advertising that works and the 50% that doesn’t — and, guess what, his Droga5 advertising is in the top 50%! Obviously, Droga5 ain’t lazy. Cue the real reason for the article – its in my last sentence.
Back to the the lazy point. Are lots of ads ineffective because Creative Directors are lazy? No. Its because only 50% are really good at creating compelling, relevant advertising.
I’ve been doing advertising at multi-nationals, my own agency and as a client for 30 years. Creating less than optimal advertising has never been about being lazy; It’s always been about talent. In my experience, most of the people I’ve worked with in advertising have been hard working high-energy types. However, as is the case with all creative endeavors, some Creative Directors are talented and some aren’t. But, in my experience, talented or not, they’ve all worked hard. Lazy? No.
Droga’s David vs. Goliath rant (essentially that big multi-national agencies suck) has been going on since the mergers of early 1980’s. Do we need to hear more about this internal industry battle? Some clients want and think they need big, others don’t. Are there geniuses at large agencies? Yes. Are there lazy losers? Yes. Ditto for many medium sized agencies.
Finally, Droga wants us to please figure out mobile marketing…. Sure thing Dave, coming right up.
Can you spell “duh?” Of course we need to figure out mobile, but we’ll at best get mobile 50% right (only got TV 50% right so far), so be cool. Unfortunately for the ad industry, mobile is about communications and applications and TV is about entertainment. Neither of these mediums have ever been primarily about “advertising.” By the way, has Droga5 figured out mobile? Has it?
My ultimate takeaway from this Esquire piece? It’s a good “ad” for “Droga5. It will get them more attention from prospective clients (despite talking down to Esquire’s audience and buggering all other agencies) and it proves that Droga5’s PR works at getting ink.
But, did Droga present any new, big ideas? Really, any? No. Did he add to the perception that the advertising industry is lame? Yes.
Thanks, buddy.
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Peter · · 2 Comments
I’m talking about The Escape Pod’s blog.
Ok, its not the only ad agency blog worth reading, but, hey, lets face it, how many of these word-rich-self-loving missives ever enrich anything? Ooops, I’m being harsh.
In my line of work I read (well, actually scan) a bunch of ad agency blogs. Note to my clients: I actually do read your blogs, I swear it!
Ok, for all of you other ad agencies. Here are some thoughts on what to do and some reasons I like The Escape Pod’s blog.
One more point. Have an agency About page that moves the reader.
Bottom line? The Escape Pod is interesting and makes interesting advertising. Interesting is good. Interesting sells.
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I just got off the phone with an agency friend who is thinking of selling his ad agency. I asked, “what will you do, where will you live?” This is the standard question I got after selling my agency. Me? I am in Portland writing this.
He told me that he is thinking of moving out of the U.S. – at least for a test-year. I get it. To me, it’s a combination of why not and hey, lets go experience the rest of the world. Maybe it should be called the Re-GAP Year? Why do only the latest generation of American college kids get to live overseas without a care?
This conversation got me thinking about my own next steps so I did a bit of exploring and found the best places to live chart (its further on down this post) on the wbsite International Living. From the chart and cited copy, Malaysia looks like a decent place to start. FYI, I have travelled throughout Asia and particularly like south east Asia for its beaches, cities, peaceful lifestyle (unless you are in Bangkok or Ho Chi Minh City) and food. Here is what a International Living corespondent has to say about his life in Malaysia followed by the master “where to live” chart. By the way, you don’t have to wait for retirement to live overseas. Just figure out that dream Internet-based business and work wherever you have WiFi. Penang here I come.
Malaysia: Asia’s Most Desirable Destination
By Keith Hockton
“Go back to New York to live? Never!” says 65-year-old Lorna Taylor. “We moved to Malaysia because of the weather, the golf and the low prices; our costs are now a third to a quarter of what they were in the U.S. We even have a maid come in and clean four times a week. We couldn’t do that in New York. No, we’ll never leave Penang.”
I’m 30 years younger than Lorna and her husband John, and yet they still manage to beat my wife Lisa and me convincingly at tennis. They have a coach who comes twice a week, and for $10 a lesson I can see his efforts are clearly paying off.
I also completely understand and agree with their view about Malaysia. It has everything. Its weather is a tropical 82 F all year round and its beaches, islands and jungles are pristine. It has some of the region’s best street food, great restaurants, bars, shopping malls and movie theaters—and it’s all affordable.
Lisa and I rent a sea-view apartment for $1,000 a month—it comes with a shared pool and gym. We eat out five nights a week, keep a small sailboat, and our total budget is $1,719 a month. Two people can have a three-course meal here for $10. A bagful of fresh fruit costs around $4. We also have a maid that comes once a week for four hours at a cost of $12.
The country is home to an active and international mix of expats.Malaysia’s an easy place to make friends and integrate as English is the unofficial first language. Lots of expats live in Kuala Lumpur and Penang and numerous organizations here can help you get settled and integrated. For example, the International Women’s Association (formally The American Woman’s Association) has just over 500 members who organize activities on a daily, weekly and monthly basis. On Mondays there are jungle walks, Tuesdays mah-jong (a type of card game), Wednesdays sewing. They sponsor trivia night once a week at a local pub and put on a ball once a year.
Penang and Kuala Lumpur are also medical centers of excellence and every day two planeloads of medical tourists arrive in Malaysia for various treatments. Not only is the health care amazing but it’s among the world’s cheapest. And prescriptions here cost a fifth of what you pay at home.
The last time I was at the dentist I got a filling and a cleaning, which cost $22.50. In the U.S. this would set me back around $180. We can also buy property, land, and houses and condominiums freehold—something you can’t do elsewhere in Asia.
Here is the chart. It makes for easy daydreaming…