In 2008, four things have taken place that particularly impacts small and midsize agency new business:
- New Business Paradigm Shift. In a 2008 CMO survey, 80% of decision makers say they found the vendor, not the other way around.
- Shift in Advertising. CMO Council’s Marketing Outlook study states that Marketing 2.0 is by no means a brand new idea, but this year it becomes mainstream with the general public. More advertising budgets move to online.
- Shift in New Business Tactics. Tim Williams, founder of Ignition Consulting Group , and author of the book, Take a Stand for Your Brand, declares in 2008 that it’s, “The End of Cold Calling.”
- Shift in the Economy. The current economic crisis that is impacting advertising budgets and will greatly accelerate Web 2.0. Following this recession, there will not be a return to business as usual.
Small-to mid-size agencies have a once in a lifetime opportunity to grow their agency during the current, turbulent financial crisis. Now is the time to step up your advertising agency’s new business efforts.
Additional articles of Interest:
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Michael Gass, agency new business consultant, primarily to small and mid-size advertising agencies, utilizing both traditional and new media tools.
Michael,
I follow your sound advice closely.
I’ve been trying to find business through referrals, networking and presentations. Am I on the right track?
Michael Slawin, President
http://www.HitsThatClick.com
Michael,
I’ve written some other blog post articles that I think answer your question that I will provide the links to in this post. I believe there is a new business paradigm shift that has taken place with the popularity of new media and the current economic crisis. Not only does it impacting advertising but it impacts the way we acquire new business.