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The Biggest Advertising Agency New Business Secret

Peter · February 28, 2021 · Leave a Comment

The Biggest, Most Important Advertising Agency New Business Secret.

Ogilvy Mather UK

It’s Sales Stupid.

Back in 1992, James Carville, Bill Clinton’s strategist said, “It’s the economy, stupid” to make sure the Clinton campaign remembered what was critically important to the American electorate. So, taking my cue from James, I offer that “It’s sales stupid”  is the biggest, most important advertising agency new business secret.

An advertising, design, PR agency new business program, marketing materials, presentations (even daily conversations with existing clients), and new business pitches are all about sales. Sounds obvious, right? The problem is that ‘sales’ can be a dirty word at some ‘creative’ agencies. If you think that I am overstating this, take a look at a few agency websites, and ask yourself if they are designed to be high-octane sales experiences that drive leads or just well-designed agency brochures. I think that the Contact page is a number one offender. Contact copy like, “Give us a call” is simply not a romantic way to begin a relationship.

An Advertising Agency New Business Secret

A discussion of how to use the science of salesmanship in an agency presentation could fill a book. I’ll be brief and hit what I think are the most effective techniques we can learn from the masters of salesmanship. Allow me a brief detour first.

I left advertising in 1995 to put a group of New Jersey newspapers online for Advance Internet (the digital newspaper arm of the Newhouse Media Group – you know them as the owner of Condé Nast). In addition to inventing New Jersey Online’s digital newspaper editorial persona, we also had to build an early online sales program that included the design of new advertising units and a sales pitch for this new Internet platform. To help me, Advance brought in Jim Hagaman from the Miami Herald. Jim was easily one of the savviest media salespeople I had ever met.

Within a few days, I had gone from thinking that I knew how to sell (i.e. running business development at Saatchi & Saatchi), to jettisoning much that I had learned, to watching a master actually make sales in the nascent Internet marketplace. Much of what you see below came from Jim.

One of his more interesting sales insights came when I said that we needed to go pitch New Jersey Online to New York advertising agencies. He said, whoa boy. In his experience, agencies always mucked up the sale. They wanted to put their own stamp on the sales message, usually got the details wrong, and always slowed down the process. He said that we were going directly to the clients to explain the benefits of digital media. As I eventually witnessed, he was right.

Actually, here is one more super insightful story that will introduce my next point, which I admit might be a “duh” for some of you.

You have to understand your client’s mindset, needs, pain points, rationale, and emotional motivations before you can ever craft an effective sales pitch.

I learned this lesson at my first agency pitch for New Jersey Online. I figured I’d start with my very own ex, the New York office of Saatchi & Saatchi. I knew the agency inside and out and had worked with their Executive Media Director Allen Banks for years. My pitch included a 1996 hockey puck graph of projected Internet usage and a discussion of digital advertising that touted our newfound ability to track how website visitors viewed and interacted with online advertising. Was Allen smiling? No. His reaction?

“Are you f*cking kidding me? We have made a fortune not really knowing how, when and for how long consumers have been looking at our ads. I manage hundreds of millions in advertising media placement. Knowing how much of it doesn’t work will kill our golden goose.”

My point in telling you this story is that I didn’t think through Allen’s motivations before I delivered my early online advertising sales pitch. By the way, he was right. The Internet sure seems like it killed some parts of the golden advertising goose.

More Sales Advice

[Read more…] about The Biggest Advertising Agency New Business Secret

How To Be The Best Global Advertising Agency

Peter · October 22, 2020 · Leave a Comment

Want To Run A Global Advertising Agency Out Of Only One Office?

London Advertising, the crazily awarded global advertising agency (like being called the Agency Of The Year by The Drum year upon year) allowed its CEO Michael Moszynski to be interviewed by me right here on Advertising Stories. It helps that we worked together while having a few pints at Saatchi London in the way back. It also helps London Advertising that Michael’s Creative Director partner Alan Jarvie kicks butt as well.

Here are lessons on how to be distinctive; the value of the single-minded branded big idea; how to spend 25 years growing the massive Mandarin Oriental Hotel Group (and making it one of, if not the, most revered hospitality brands); how London advertises itself and how it kicks global / multi-office behemoths like WPP via one focussed office in London. Mantra = much more effective advertising for less. Not a bad sales pitch.

Really, there is not much more that I can say other than listen up. There are multiple teachable moments for any digital or “full service” advertising agency in this podcast. Pass it on to your mates.

NOTES:

London Advertising

Michael Mosynski on LinkedIn

The Mandarin Oriental “I’m A Fan” Advertising Campaign

Hypnotism coming: Remember to subscribe to Advertising Stories. Remember to subscribe to Advertising Stories. Remember to…

A nice thing for me… Feedspot has recognized Advertising Stories as being a top 15 advertising podcast.

Yikes. Donald Trump Loves Me. The Videos.

Peter · October 19, 2020 · Leave a Comment

I Admit It. I Am Not Sure That My Donald Trump ‘Loves Me’ Endorsements Are Good For Me. Ever. However.

Donald Trump EndorsementMonths ago The Donald made a couple of video endorsements for me. One about my business development consultancy… “Levitan’s The Best”. And, one about my Advertising Stories podcast. Here is the podcast list.

To put it mildly, The Donald is a bit divisive. However, he cannot be ignored, and therefore at the time, I thought what the heck, if he is going to do a couple of personal non-political videos, why not let him. I won’t get political either (plus I am an Independent). My goal was and is to be Unignorable. So, here is a bit of borrowed interest just for you.

Oh, Mahatma Gandhi also endorsed me as well. I had visited one of his homes in Mumbai last January. Does Mr. Gandhi help me find the center – for you? I mean, who was EVER liked by both Gandhi and Trump? You can see Gandhi’s pitch for me here on my Contact page.

Ta Da, Donald Trump For Levitan’s Expertise. #1.

https://peterlevitan.com/wp-content/uploads/2020/10/2-Price-cameo-visit-cameo.com-to-get-a-message-from-your-favorite-person.mp4

 

Ta Da, Donald Trump For Levitan’s Podcasts. #2.

 

https://peterlevitan.com/wp-content/uploads/2020/10/1-price-cameo-peter-podcast-promo.mp4

 

How To Build An In House Agency

Peter · September 18, 2020 · Leave a Comment

in house agancyThe market vibration is that there is a growing use of the in house agency. To be more specific, this is an in house “advertising agency” since what is brought inside are one or more of what I’ll call “advertising services” that include strategy development; digital marketing; PR; ‘traditional advertising”; media planning, and buying and, most common, high-volume and fast-paced content development.

There are many reasons for a company to bring some or all marketing services inside by creating an in house agency. That said, there is no one size fits all and it ain’t easy folks.

The rather experienced Steven Morvay, he’s held senior positions as both an agency president at Saatchi & Saatchi Direct and senior marketing positions at Borders and HBO, gets both sides of the in house agency equation. Take a listen. This is a smart discussion. Yes, I said that.

The In House Agency – The Why Do It?

I am going to go deeper into the growth of the in house agency and its efficacy and issues. But for now, here is a revealing chart from the Association Of National Advertisers and eMarketer about the primary benefits of creating the in house agency. Yes, it is often mucho about saving some bucks.

in house agency

…..

 

 

 

 

 

 

Show Notes.

Steven Morvay on LinkedIn.

YO – Hypnotism coming.

Remember to subscribe to Advertising Stories. Remember to subscribe to Advertising Stories. Remember to subscribe.

A nice thing for me… Feedspot has recognized Advertising Stories as being a top 15 advertising podcast.

An Expert On How To Do M&A

Peter · August 31, 2020 · Leave a Comment

How to do M&AI’ve got to tell you… you do not just wake up one morning and know how to do M&A. There is a fine art and science (both) to getting the smartest, best and happiest deals done.

Dominic Rinaldi is Managing Director of Chicago’s Sun Acquisitions. He is an expert at crafting the best deals for buyers and sellers. That, ladies and gentlemen, is what you can learn directly from a leading M&A advisor.

I’m into the universe of M&A these days because I wrote “How To Sell An Advertising Agency. And, How To Buy One.”  I wrote the book for my advertising agency world because I think, well I know from my agency leadership conversations, that many advertising agency owners and potential buyers are looking at the M&A market. It is a time for some ad folks to either sell out or use the market to acquire some well-priced assets.

There is a lot of information in the interview. That said, here is a bit on getting bank financing. It sure looks like a good time to borrow.

Peter: I’ve, I’ve bought and sold three agencies. I never borrowed money. I never went to a bank, never lived through the banking experience. What percentage of sales of your middle and lower market clients require borrowing from a bank?

Dominic: The largest, most sophisticated buyers want to borrow money because they want to put leverage on that deal. So let’s talk in the terms of a sophisticated private equity group that’s looking to make acquisitions. If they have $200 million in a fund and they’re looking to go out and make acquisitions, they don’t want to do 10 transactions with the 200 million. They want to do a hundred transactions. So they’re spreading their risk. The chances are that they are going to hit a couple of home runs and also hit a couple of doubles and triples. Whereas if they do 10 deals the odds of success really shrink. So using the money to do as many deals as possible putting bank lending on it gives them leverage to do that. And it’s today’s very low-interest rates. It makes a lot of sense.

My “How To Sell…” book is free. All you have to do is use the handy get the free book link on this page to ask for a copy.

Show Notes Links To Get You To… More How To Do M&A.


Sun Acquisitions

Dominic Rinaldi’s M&A Unplugged Podcast

K2Advisor – On setting up and positioning a business for a sale

The Beatles Taxman

Hypnotism coming: Remember to subscribe to Advertising Stories. Remember to subscribe to Advertising Stories.

A nice thing for me… Feedspot has recognized Advertising Stories as being a top 15 advertising podcast.

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