Peter Levitan & Co.

The New Business of Advertising

new business

Advertising Agency Wake Up Call From eMarketer

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I woke up, read my mail and saw these three quotes in an eMarketer email. They got me thinking fast.

You are an advertising agency. You worry about how to be digitally relevant  in the next couple of years — or perish. Here are just three quotes from eMarketer that can act as thought starters. if these don’t start your mind, maybe its time to, um, bail?

By 2016 nearly a quarter of the world will be using location based services.

US online video ad spending will nearly triple in the next four years.

43 million Americans convert to using smart phones every minute.

If you need one more idea, another path to agency success lies in the following eMarketer chart. And, no it isn’t rushing onto the Facebook or Twitter scrum.

social media usage instagram and pinterest

Advertising Agency New Business: Instagram

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My earlier post, “From Traditional To Digital To Integrated To Social To Instagram”, on the advertising blog AdPulp took a look at the New York agency The Mobile Media Lab. As I noted in the post, this agency describes themselves as… “The Mobile Media Lab is a creative agency that produces customized visual experiences with brands and their audiences on Instagram and other social media channels.”

Here is an agency that isn’t worried about finding a niche and owning it. They are not trying to be everything to everybody. Their visual marketing specialty has netted them some famous clients including Evian, Puma, Samsung and W Hotels. Accounts most agencies would love to have. Accounts that a “full-service” Boston agency might have some trouble winning.

Clearly, Mobile Media Lab successfully tapped into a growing marketing area where big-name clients want expertise.

instagram

When I’ve discussed the visual marketing specialty with agency colleagues, they expressed concerns about The Mobile Media Lab’s narrow focus and limitation of tools like Instagram. I have a different perspective. Yes, visual marketing is a tightly focused approach. But, the use of Instagram and Pinterest is skyrocketing and why couldn’t even a large “full-service” agency build a micro-group around niche visual marketing to get new business interest? Just like The Mobile Media lab, another agency just might get the attention of brands that would have never given them a look. Visual marketing is something that can be pitched and should generate interest from sophisticated clients.

Is there any reason that you couldn’t take a niche play to quickly become an expert in a new marketing category? Advertising agency niche markting could be your ticket into the national marketing arena. I’ll soon write about some of the other niches that can be exploited.

Steve Jobs “Secret” Advertising Agency New Business Presentation Tips

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jobsOK, it isn’t remotely a secret that Steve Jobs was one of the best presenters of all time. In fact, he was the Muhammad Ali of the art of presentaion. Here is how Jobs kicked off the iPhone introduction:

This is a day I’ve been looking forward to for two-and-a-half years. Every once in a while, a revolutionary product comes along that changes everything… Well, today, we’re introducing three revolutionary products of this class.

The first one: is a widescreen iPod with touch controls. The second: is a revolutionary mobile phone. And the third is a breakthrough Internet communications device. So, three things: a widescreen iPod with touch controls; a revolutionary mobile phone; and a breakthrough Internet communications device.  An iPod, a phone, and an Internet communicator. An iPod, a phone… are you getting it?  These are not three separate devices. This is one device. Ad we are calling it iPhone. 

So, what can advertising agencies learn from Steve Jobs’s presentation techniques?

  • He is a story teller and clearly loves to puts on a show.
  • He is enthusiastic.
  • He sells the benefit.
  • He sets a theme: “There is something in the air today” set up his introduction of the MacBook Air.
  • His slides are simple and evocative.
  • He tracks you through the presentation.
  • He practices for days.

To help get into Job’s head, I’ve curated some of his best presentations and expert views of his style, delivery and skilled use of theater.

Two Highly Recommended Books For Advertising Agency Presenters:

“Resonate” by Nancy Duarte. This best of breed book on creating persuasive presentations is a must read for anyone trying to craft what Nancy calls, “visual stories that transform audiences.” The book includes multiple case histories including a case history and deep analysis of Job’s iPhone introduction. The case illustrates Job’s skills via a second by second sparkline timeline of his presentation.

“The Presentation Secrets of Steve Jobs: How to Be Insanely Great in Front of Any Audience” by Carmine Gallo. According to Carmine’s website, he is “The communications coach for the world’s most admired brands.” I can’t disagree. You might also want to read Carmine’s articles on presenting that run in Forbes.

Three Fabulous Steve Jobs Presentation Videos: IPhone and iPad introductions and his Stanford commencement address

http://www.youtube.com/watch?v=6uW-E496FXg

http://www.youtube.com/watch?v=zU7BRvejni4

 

The Top 11 Elements of Advertising Agency Success

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As an agency owner my biggest fear was that I might have more billings walking out the back door than walking in the front. This thought kept me up many nights and it forced me to really think through what it takes to be a successful agency. Here is a list of 11 elements that I think are essential for building a sustainable agency.

Note that this list does not include some of the advertising industries more critical decisions like how to design a cool office, figuring out where to place the creative awards, choosing between a ping pong or foosball table, or what kind of holiday card to send out.

Here are my 11 elements or goals for agency success… And a good night’s sleep.

  1. The absolute bottom line for achieving all of your goals is that you view your agency as a business that is driven by the pursuit of profit. Yes, running an agency is fun. But, it is a business first. A failing business isn’t fun.
  2. You should end the year with at least a 15% net profit and 4+ months of cash in the bank to cover any unforeseen problems – like losing a big account.
  3. You will have a clear, competitive agency brand position and efficient marketing program designed to set you apart from your competition and generate incoming leads.
  4.  You will be known for delivering business building creative, strategic thinking, tech savvy and superior account service.
  5. You will have an ongoing active new business plan to drive agency awareness and to get your sales proposition out 24/7.
  6. You will get paid what you are worth and will not give away your brains for free. Nothing rankles me, and I suspect you, more than giving away valuable ideas to prove that you are brilliant. Yes, I know about procurement and bending over. But, lets try to get past that evil.
  7. You will have the right staff, expertise and thought-leadership to stay ahead of the rapidly evolving market. You understand that you may have to cut some dead wood. I’ll admit that I was occasionally slow in building for the future by making necessary cuts.
  8. Your management team and most important employees will be paid at or higher than industry averages. I continuously studied industry salary stats. I know that my employees did too.
  9. The best people in the business will call up and ask to work with you.
  10.  Everyone at the agency will have fun and will love to come to work in the morning.
  11. The desirable clients you want will call up and ask to work with you. These clients will deliver at least two of the following: they pay very well (this means very profitable); they understand and want great work; they are famous brands that beget other famous brands.

Just to pile on, allow me to end with a quote that has influenced my personal business decisions and need for speed.

“If everything seems under control you are just not going fast enough.” – Mario Andretti

–> There are more elements, lets discuss how to grow your agency.