marketing

Do Advertising Agencies Have Business Plans?

Peter · April 16, 2014 · Leave a Comment

This post is is based on my personal SEO experience and is meant to be instructive for all small, medium and large advertising agencies that want high search results for their websites. That’s you, right?

I am in Mexico working. Just for the hell of it, I took a look at where my site ranks in the Google results for “advertising agency business plan.” Since my business is helping advertising (and design and digital) agencies position and market themselves for growth (and actually write a smart / active new business plan), I figured I’d see where I rank on this particular search. Well, I come in on page 1 (that’s sweetly good) – but, only at position number 8.

Now, considering that I am preceded by some famous and huge names…

Bplans / Fuel Lines / Wiki How / Inc. / Forbes and Entrepreneur, I am not feeling too bad.

However, I have over 250 blog posts related to this subject and I think that I should rank higher. Note: my competitor Fuel Lines started his industry blog in 2008 (wow!) and I didn’t start blogging about new business until January 2012… I shouldn’t be feeing too bad.

An important fact: I only have four blog posts with “business plan” in the headline. Lame… well, five including this new post.

So, here is what I am going to do about growing my Google position:

I will write more posts like this that have the keywords “advertising” and “business plans” in the headline and of course, include these keywords (but not too many) in the body copy.

I am also linking from this page to 3 past posts with these words in the headline. Note: most of this website is about new business after all. Here you go:

Your Advertising Agency New Business Plan

How To Write An Ad Agency Business Plan

Why Don’t Advertising And Digital Agencies Have A Business Plan?

Another factoid that answers the question… do agencies have business plans?

After talking with dozens of agencies, I figure, at best, 20% have up-to-date business plans and about 50% (I am being kind) have well-thought-out business development plans. Given that there are over 4,000 advertising agencies around the world, my market opportunity is huge / and so is yours if you have a plan.

Finally, I am going to ask you to contact me. I get about 3 qualified incoming inquiries from agencies a week. I’ll tell you how this happens. It isn’t magic and there is absolutely no reason that you can’t get lots-o incoming as well.

By the way, sign up below for my weekly newsletter.

From X Rated to 4 Skins

Peter · March 19, 2014 · Leave a Comment

Last week I got to deliver my first X Rated blog post.

This week I get to point you to one of my favorite (WTF?) brand names: 4 Skins Wine. Hmmm. I don’t even know where to begin or should I just cut myself off?

I found this brand while doing some competitive agency research for a great Canadian agency client. Competitive research can be a bit boring but when you find such an exciting, attention generating, scrumptious sounding and mouth watering brand name, you just have to tell the world. Here it is care of Halifax’s Spectacle Group. Enjoy!

Coca-Cola And The Future of Advertising Agencies

Peter · March 10, 2014 · Leave a Comment

Today’s Wall Street Journal article, A New Marketing World Requires New Skills, gives us a sweet opportunity to get into the head of Joe Tripoldi, Coca-Cola’s Chief Marketing and Commercial Officer. Joe shares what he expects from his marketing organization as the world of marketing makes some dramatic and fast-paced shifts from old-fashioned brand-building to digital marketing.

This deep look also provides client-side direction for advertising and digital agencies to better understand where the world of marketing is headed. Not that any of this informations should be news. However, it is reinforcement for the way all agencies should be thinking in March, 2014. Thinking means designing agency services and hiring the right talent for the future. If Coke wants analytics, digital, social, mobile and gamification expertise — all clients will eventually want this and agencies need to plan accordingly.

“The biggest issue for CMOs today is the critical need to ‘re-skill’ their marketing organizations and build new capabilities in areas like big data/analytics, digital, social, mobile, gamification and design.

“This is not just about hiring a few subject-matter experts, but building a depth of knowledge leaders and practitioners in these critical new competencies. If they don’t, marketing organizations will be stuck with traditional 1980s and ’90s brand-building skills in a 21st-century world of an ‘always on’ consumer. The times, they are a-changing.

“You cannot slide over people in your current organization because they have loosely dabbled in these areas. You need to go to the millennial marketplace for ‘natives’ who have lived and breathed these disciplines for much of their lives. Individuals who have passion for connecting brands with people in new ways.

“The talent is out in the marketplace, you just have to be creative to source it in nontraditional ways through communities or networks. Then you have to understand that you may only retain these people for a short time, but the positive, disruptive impact and the knowledge they can impart on your organization is game changing.”

35 Ways To Start & Grow An Ad Agency

Peter · February 25, 2014 · Leave a Comment

How To Start & Grow An Ad Agency

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.

These 3 Are From the Marketing Section

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.

marketing

Easy Plan

How To Start & Grow An Ad Agency

These 3 Are From the Marketing Section