Pitching

Advertising Agency Pitch Book Update

Peter · July 9, 2014 · 1 Comment

A Quick Update On My Advertising Pitch Book

People are banging down my door to get their copies of my book on pitching. LOL-Not. Well, they might be when it gets published (later this summer) and the word gets out. Again, a bit of LOL.

The book will be about 60,000 words, has a few deep interviews with experts (search consultants, the 4A’s, the ANA, an IP lawyer and more) and has a list of pitch mistakes garnered from a range of USA and beyond agency search consultants and… Because I really like to point out mistakes, the book has a series of 12 cartoons that highlight what I think are the most egregious mistakes agencies make when pitching. These are mistakes that all agencies make at some point. I try to make these errors go away by telling you that if you want to loose your pitch, then go ahead and make them.

Don’t Be Distinctive

Here is a sneak preview. One of my favorite cartoons is above. This one is about the advertising agency’s fear of sounding too different. Too distinctive. Too bold. You know, “What if we sound too assertive, have ideas that scare the client, take a too strong position, are wrong…” This thinking leads to sameness. The sameness that My friend Steve Klinetobe and his The Cartoon Agency (check them out) illustrates in his 12 cartoon series.

These cartoons will be in the book and will be animated for the web to increase their virality (is this a word?)

Pass Along Help Please

One of the things that I talk about with my agency clients is that they should ask their clients, ex-clients, suppliers, partners, family and friends to refer the agency when appropriate. You know, just ask politely.

So in the interest of asking: Please pass this post on to your friends and ask them to sign up for my weekly newsletter below so that they hear about the book before it is sold out. Uh, yeah, another LOL. But one that I want to happen.

Agency Search Consultant Trends

Peter · May 29, 2014 · Leave a Comment

The scary Barbie and Ken slide on the left is a visual from the webinar “Agency Search Consultant Trends, Predictions and Recommendations for Agencies” hosted by Dave Currie, CMO of The List Inc. with Russel Wholwerth and Gerry Preece of The External View Consulting Group.

The image acts as a visualization of the high number of advertising agency options that clients are confronted with when they search for an ad agency. Breaking out from the thousands of other agencies is critical to your agency’s growth. Watch this webinar if you want to break out from the pack.

The webinar covers the search process in great detail and I can guarantee that every agency executive from large to small agencies will learn how to improve their agency’s new business batting average.

I recently interviewed Russel and Gerry for my book on pitching and can find no better, highly practical expert insights on the agency search process and how agencies can run smarter pitches. Many thanks to The List Inc. for posting this webinar. I highly recommend The List Inc.’s database and information services for agency new business. I used it when I owned my agency and now recommend it to all of my agency clients.

A quick piece of advice: make sure that your agency is listed in The List Inc. and External View databases. Invisible, wall-flower agencies don’t get asked to the dance.

You can see a full set of the slides on this page of The List Inc. website.

Can You Afford New Advertising Accounts?

Peter · May 25, 2014 · Leave a Comment

Can You Afford New Advertising Accounts?

Maybe Not.

A couple of years ago a Portland digital agency, once a high-flyer, closed its doors because of serious cash flow issues. Their last straw was the amount of cash they used to win and startup a large famous account — and how long it took to get any revenue from the client to offset the cost of pitching and on-boarding.

Before the first client payment ever hit the bank, the agency spent three months pitching; added staff to win the pitch; spent time negotiating a compensation and scope of work agreement while they started to develop the programming to support the client’s program and then added more staff to build the relationship — way before the agency could even get the first invoice out. The agency then had to wait over 90 days to get paid. Not smart.

7 Months – No Pay

So, at the end of the day, the agency was in the hole for about 7 months of costly work before they ever get some moolah. This time-lag does not work for small digital agencies.

Did the client care that the agency couldn’t afford to fund the client’s marketing before receiving the first payment? Of course not. According to an Advertising Age article on clients now extending their payment schedule to 120 days, they still don’t. Try this one on for size.

Mars Seeks 120 Day Payment Terms From Vendors

Mars isn’t alone in asking its agencies to extend a line of credit. According to Advertising Age, Procter & Gamble, Anheuser-Busch InBev, Johnson & Johnson and Mondelez have also extended their payment terms. Will client’s recognize the pain they are inflicting? Don’t bet on it. Even the ANA can’t seem to get its members to behave.

In a report published late last year, the Association of National Advertisers stated that at least four in 10 marketers lengthened payment terms for at least some marketing services in the preceding year.

“Client-side marketers need to consider what is fair and how they would want to be treated,” the ANA report said. “If the payment terms they are suggesting to their suppliers would not be acceptable to them as suppliers, a re-think might be in order.”

What Can An Agency Do?

Yes, this is a tough one since most agencies are not remotely in the driver’s seat. Why?

Most agencies don’t offer services that are so unique that the client can’t go elsewhere.
If an agency already has the account, they are at the mercy of their beloved client.
They are so hungry for new business that they bend over and then lose a strong negotiating position.

But, If they know that the client wants to screw them before they commit to a pitch they can… yes, this one will be hard to believe: NOT pitch.

So, keep how long it will you to get paid in mind when you decide to pitch an account and when you build a one-sided relationship like the one that Mars wants to have with BBDO.

In this case, its seller beware.

Does You Agency Ask For The Order?

Peter · May 14, 2014 · 1 Comment

I had an advertising exec friend read the manuscript of my new book on pitching* — its still being edited. She mentioned that I should add that advertising agencies should ASK for the deal when they are closing their presentation.

Ask For The Order

You know, ask for the order. I know that most agencies do not. Interesting, right?

Think about it… they responded to an RFI / then an RFP and then worked their tail off creating a super fine presentation. They delivered their best, smiled and walked out of the room without asking for the account. Most of the time, an agency thinks that their effort alone is serious proof that they want the business. Well, they are right. Any savvy client would realize that the agency is serious.

But, why not add a bit of passion to the end and politely ask for the the account? Or, as Zig Ziglar, one of the leading sales gurus says… A.A.F.T.O. Always ask for the order.

Need more sales inspiration? Here is a SlideShare presentation by Viru Nigam, an MBA student that I bet has spent more time on Ziglar’s sales techniques than most of us smart, cool agency folk. Take a look. Oh, slide 9 is all A.A.F.T.O.

[slideshare id=33435810&doc=theartofselling-140412001838-phpapp02]

*Oh, my book’s title:

The Levitan Pitch. Buy This Book. Win More Pitches.

By the way, go below and sign up for my weekly newsletter. It is free and so refreshing.

Presentation Toolkit Must Have

Peter · April 21, 2014 · Leave a Comment

Here is an oh so simple presentation tool that will cost you all of $30 or less. Keep this with your laptop to projector cable in a handy presentation toolkit and don’t leave home without either of these.

If you are going to present off of a laptop and don’t want to be tethered to the machine – you know, having to walk back to or reach across the table to advance the slides or play the video – then get yourself a wireless remote clicker thing. You will look way smoother.

Sounds obvious? Then cool. You have one? Even cooler. Now, all you have to do is to remember to bring it to the presentation.