But First… Some Pain. The Why I Wrote: Ten Important Questions For Your Advertising Agency
There is a high degree of fear, doubt, and uncertainty in the Advertising Industry. According to the 2023 RSW/US New Business Report:
“This year (2023), 58% of agencies report obtaining new business has been harder, or a lot harder, compared to the previous year.”
“38% of agencies said the number of opportunities for new business decreased this year, versus 26% last year.”
As an ex-agency owner and the Director of Global Business Development at Saatchi & Saatchi Advertising Worldwide, I know these facts are insane and worrying.
Frankly, only kick-ass agencies will survive.
Here Are Ten Questions (and Thoughts) That Will Kick-Start Your Agency’s Success.
These are food for thought. This is where I start with my advertising agency consultation clients.
Do You Update Your Business Plan? How hard do you look at and possibly adjust your business plan? How will you generate maximum revenues and profits moving forward? Do you adjust? Do you understand your Total Addressable Market (TAM)? I have a one-page business plan guide in my book, “How To Build A Kick-Ass Advertising Agency.”
Have You Defined Your advertising agency positioning? This is a tough and hard look at your primary brand proposition. Stand out. be clear. Be compelling. Be an expert. Expert agencies win more clients and get bought faster.
Do You Have a Competitive ++ Sales Oriented Website? This is one of the first places that anyone sees your agency. How do you rank vs. your competition? What do you say (fast!) that will get a prospect to pay attention and want to dig in? In many cases, you only have around five seconds to make me pay attention, decide you are right for me, and stick around vs. the other 3,999 advertising, digital, etc. agency websites. Your website is a sales tool. Sell!
Is Your Business Development Plan A Winner? How have you managed your plan over the past year? My blog has 850+ blog posts discussing how to market your agency. Plus, I’ve written two advertising agency “guide” books just for you on this rather critical
Have You Perfected Account-Based Marketing? You do this, right? If so, how? I am blown away by the number of new, smart, easy-to-use AI-based marketing tools designed to energize and streamline your marketing. Ask me about them.
Are You a Thought Leader? Are you an active and efficient thinker, blogger, LinkedIn guru, or podcaster? How do you look on LinkedIn, YouTube, Instagram, and TikTok? Are you perceived as a category thought leader? What do your analytics tell you?
What Is Your ‘findable’ quotient: Can I find your advertising agency if I search for you or your expertise? You should be everywhere I might search for you. Your competition will probably be there.
How Is the Client List? Does your client list look powerful to an outsider? Do you know how to position your client list for business development? Do one or two clients account for too high a percentage of your revenues? If so, go out and get new clients. And love the one you are with.
Got Intellectual property? Do you have any IP? Something that will differentiate and add sustainable value to your agency? You can do this. I know how to make this happen by hyping your current client-facing systems and licensing white-label tools.
Do You Manage Your Creative Vibe? How does your creativity stack up, and how do you prove it? I am talking about the vibe of your creative ideas, use of media, and just plain methodology to help clients stand out.
One More BIG One. Man Bites Dog.
Is your agency, as in, for example, #digitalagency Unignorable? If you are, um, ignorable, you will not win. It is that simple. I concentrate on how to make agencies UNIGNORABLE.
Dog bites man, isn’t unignorable. Man bites dog is. What is your breakout message?
Here It Comes – An Unignorable Offer
Take me up on my free Godfather offer. This is an offer you can’t—or rather, shouldn’t—refuse.
Need a starting point? Let’s talk for 15 minutes—just 0.25 on the timesheet— to discuss your agency’s issues & opportunities and how I will help you build a more powerful advertising agency business development program. You will leave the call with at least one powerful business development idea. I guarantee it.
Here is my calendar: www.calendly.com/peterlevitan