April « 2011 « FUEL LINES Fueling Ad Agency New Business Through Social Media

A Top 20 List of Ad Agency New Business Articles for 2011

April 29, 2011

Information regarding new business and social media continues to be the top interests of advertising agencies.

There were over 100,000+ page views for FUEL LINES in the first few months of the year. As signs of economic recovery are on the horizon small to midsize ad agencies, digital agencies and PR firms are even more focused on new business. Because many agencies were late to get on board the social media wagon, they are also searching for social media resources that will help them get up to speed quickly.

Agencies are also in a hiring mode and a lot more attention is being given to best practices in hiring, training and retention of their staff. Lots of questions and interaction regarding new skills needed, particularly when it comes to agency new business.

In the order of their rankings, here are the top 20 Fuel Line articles that generated the most traffic in the first few months of 2011:

3 Comments | Best Practices, New Business Talents, New Business Tips, New Business Trends, Social Media | Tagged: advertising agencies, Digital Agencies, FUEL LINES, Michael Gass, new business articles, pr firms, retention, Social Media, training | Permalink
Posted by Michael Gass

New Roper Study: 9 in 10 CMOs See Value in Content Marketing

April 20, 2011

To create new business opportunities for your agency through social media, content is critical.

“… marketers will need to rethink their approach to advertising and marketing and intensify their focus on creating magnetic content that will naturally attract consumers, rather than relying solely on the interruption model of advertising, which consumers are responding to less and less. Think pull vs. push.” Geoff Ramsey, CEO, Co-Founder of eMarketer.

New research from Roper GFK and presented by the Custom Content Council highlights the point that content should be a significant part of a marketer’s mix.

In a survey of more than 100 CMOs, respondents were measurably more accepting of custom-content solutions. Among the survey highlights:

More than 8 in 10 (83%) say they are receptive toward using custom content in their marketing plans, representing a 16 point increase since the last study.
Almost 9 in 10 CMOs say they see value in the service provided by custom content, representing a 15 point increase from 2006.
More than 9 in 10 CMOs believe that custom content has a positive effect on audience attitudes, strengthening the bond with consumers.
9 in 10 say that they believe a majority of consumers find useful information in custom media and 85% believe that consumers who receive custom content will be more likely to buy from the sponsoring company again.
A majority of CMOs believe that custom media will capture a larger proportion of marketing budgets over the next couple of years. 59% percent report having shifted marketing funds away from traditional advertising in the last year toward custom content, representing an 18 point increase from 2006.
Close to half (47%) strongly agree, and 91% strongly/somewhat agree that custom content should be an integral part of the marketing mix for any business. 84% strongly/somewhat agree that custom content represents the future of marketing.

“While print remains the choice du jour for most custom media programs, new media channels are providing more growth opportunities for the custom content industry,” said Lori Rosen, Executive Director, Custom Content Council, “Content has become the mantra for today’s savvy marketers”

Click on the following link for additional resources from the Custom Content Council and the article: What CMOS Think About When They Think About Custom Content

10 Comments | Agency Leadership, Content Marketing, New Business Trends, Social Media | Tagged: ad agency new business, Custom Content Council, Geoff Ramsey, Lori Rosen, Michael Gass | Permalink
Posted by Michael Gass

16 Signs That Social Media Isn’t Working for Ad Agency New Business

April 18, 2011

If your agency’s social media participation isn’t generating traffic and new business leads, it is important to know why.

How can an agency help a client monetize their social media when it doesn’t have a handle on how to use it for itself? As more-and-more agencies jump on the social media band-wagon, clients are beginning to ask them,“what has social media done for you?”

Gone are the days when an agency can get by “talking the talk but not walking the walk.” Clients will be able to discern between the agencies that truly get social media from the ones that don’t with just a few clicks of their mouse.

100% of our clients are online and all they have to do is take a quick look and they can easily tell that most agencies have no plan with regards to social media. Agencies may have a blog, Twitter, Facebook and LinkedIn accounts, but those accounts often hide behind the agency name and tend to be blatantly self promotional with little value to an undefinable audience.

Used correctly, social media makes new business easier not harder. It is an incredible communication’s channel for easily generating new business leads and creating personal networks far beyond your local market.

No traffic + no leads = no new business. Here are 16 signs that most likely indicate your social media isn’t working for your agency:

No social media strategy, no plan. 60% of companies using social media have no plan. I would say from my own experience that is probably true of most agencies.
No clear objective for using social media. The first step in creating a social media strategy for your agency, you MUST have an objective. I suggest it should be for new business.
There is no focus on a particular target audience. The second step in creating in a social media strategy is to identify who you are trying to reach.
A lack of positioning for agencies. The FOUNDATION of an ad agency’s new business program is its positioning.
“The common failing among agencies seeking new business is the inability, or unwillingness, to name what they stand for,”Bob Lundin, Agency search consultancy Jones Lundin Beals. Social media provides a great opportunity to showcase how your agencies are different.
Agencies using social media for blatant self-promotion. Credentials and capabilities belong on an agencies website but shouldn’t be the driving force of their social media program. Social media should be centered around benefits.
No integration between blogging, Twitter, Facebook or LinkedIn. When the majority of agencies finally ‘jumped into’ social media, they just jumped in with a check list of channels. Yes we have a blog, Facebook Fan page, Twitter account and LinkedIn. But there was no convergence, bringing them together into a single social media strategy.
Agencies are waiting passively for prospective clients to them. If you build it, doesn’t guarantee that prospects are going to come.
Many agencies lack appreciation for those that are willing ambassadors for your agency. Zig Ziglar’s statement, “You can have everything in life that you want if you just give enough other people what they want.” His philosophy works well in the arena of social media.
A lot of social media efforts fail because of the lack of value/benefit for the intended audience. Your audience will be your judge and jury as to whether you have an appealing position, post titles that spur interest, content that is beneficial.
A lot of agencies obviously don’t care about anybody but themselves. To successfully build an online community, you must staf focused on the perspective and interests of your prospective clients. You have to genuinely care about their challenges and obstacles.
There’s no SEO strategy for your agency’s social media presence. According to Marketing Sherpa, 80-90% of business to business transactions begin with a search on the web. A CMO survey, 80% of decision makers say they found the vendor, not the other way around. “Content Doesn’t Win. Optimized Content Wins” – Li Evans, search marketing guru
Your agency’s social media ship has no rudder. Getting your staff on the same page and keeping them there is like herding cats. Empower the person charged with your agency’s new business to keep your social media efforts focused and directed.
Followers instead of leaders. Most agencies are still using social media the way the early adopters of social media intended. Instead of pressing the envelope for lead generation and networking for new business. This in no way means that you are SELLING.
A mindset of income first. Just like in our offline networks and referrals, it’s relationships first. People want to work with other people that they know, trust and like.
Attending offline events such as trade shows and conferences without inclusion in your agency’s social media efforts. Social media has transformed offline events and can maximize the personnel connections with prospective clients. Your involvement with blogging, Twitter, Facebook and LinkedIn can change your whole experience.
No social media training for their staffs. According to a recent 4A’s and Arnold Worldwide survey, 90% of agency staff say they have to figure things out on their own due to the lack of training.

Additional social media + ad agency new business articles that may be of interest:

6 Comments | Best Practices, New Business Tips, New Business Trends, Social Media | Tagged: Ad Agencies, Advertising, Jones Lundin Beals, Marketing Sherpa, Michael Gass, new business, Social Media, Zig Ziglar | Permalink
Posted by Michael Gass

101 Insights from the 2011 Mirren New Business Conference

April 13, 2011

The reader’s digest version of the top insights from the largest agency new business conference of the year.

The 2011 Mirren New Business Conference was recently held in NYC. With over 400 advertising agencies represented, this is the premiere event of the year for agency new business. Over 400 agencies were represented for this 3 day event that included 30 sessions.

Wish you could have been there? I thought the next best thing for those who missed it would be sharing some of insights gleaned from the attendees who were Twittering live from the conference using the Twitter hashtag #MIRREN, sharing some of the best-of-the best information.

Enjoy these top 101 nuggets from the conference attendees:

@hugeinc @edwardboches: kids coming out of school today are fearless and don’t label themselves according to job descriptions
@edwardboches: the single most important thing you can do is create the best internship program in the country
@jbraftus: The only proprietary tool agencies have is their people
@dglittlefield Biggest trend in agency selection is category experience. Agencies need to narrow and go deep as opposed to wide and broad.
@HeatherWit Stop selling the agency and start fixing their problems.”
@LaurenOnDemand …great marketing is about being seductive…..about creating content and ideas people want to spend time with.
@kfiddner Congrats on recognition at #mirren for your “brilliant” blog: www.theonethingblog.com Relevant, focused to your target clients.
Brent Hodgins featured theonethingblog.com as best practice example in today’s agency website discussion.@dglittlefield: @kfiddner
@therealadbadger: Clients don’t have time for blogs. But they do have time for focused blogs
@mediatwo 7 basic principles for agency wesite: 1) objectives 2) targeting 3) USP 4) value 5) supported 6) tone/personality 7) user experience
@awbrown 2011 statistic: Agencies lose 95% of pitches when they lack category experience
@greenergirl put your category expertise up front to get the clients u want via your site
@awbrown: There are nearly 70,000 marketing services companies in the US. Over supplied market, receding demand.
@pinkbird_bi Diversify ur pipeline across prospecting, organic growth & pitching; increase ‘qualified’ at bats to improve winrate
@HeatherWit Client anxiety is evolving. Clients are asking “what is my social strategy? Can any of my agency partners do social well?”
@HannahPoferl: “In a meeting, whoever talks most thinks it went really well.” ~ Brent Hodgins
@MikeDuda Start every pitch w/ shot of tequilla, vow to one another the team will win & failure’s not an option. Period.
@pinkbird_biz Laura Maness Is your agency’s positioning client-centric? [hint: the agency monologue is dead]
@tomzazueta: “Fastest path to revenue is influencing your client’s revenue.” – Brent Hodgins
@cullenob Agency biz dev dir’s encouraged to take control of their own job desc’s to be clear on what they’re accountable for.
If you wait to start the brainstorm at the brainstorm, cancel the brainstorm (via @maureendevine)
@omutak Will centralized global capabilities be a profitable revenue source 4 mid-size agencies?
@DMVAND Which of the archetypes Is your presentation style? Motivator, Counselor, Drill Sargent or Professor? Use them all?
@maureendevine: 20% of what you say provides 80% of your persuasion in a pitch. Key is to make sure your client can find your 20%
@cullenob If you want till the brainstorm for ideas, you’re in big, big trouble. @levyinnovation
@maureendevine 20% of what you say provides 80% of your persuasion in a pitch. Key is to make sure your client can find your 20%
@therealadbadger Great ideas are only logical in hindsight.
@pinkbird_biz Search consultants parting advice: believe (u are who u think u are), velocity (be faster), authenticity (be true to ur brand).
@pinkbird_biz communications should drive action: clicking, liking, passing, tweeting, shazaming, sampling fast becoming rule
@jsidess when you focus on what your consumers focus on, you can be much more effective on getting their attention
@therealadbadgerBrainstorming sessions destroy the ability to spontaneously create big ideas. You can’t schedule ideation.
@mediatwo“account planning is the future of the industry” – Brent
@mnburgess Social ROI is still murky. But none of us have the courage to give up on it!
@pinkbird_biz If a client sets clear rules for the pitch, you should probably follow them.
@therealadbadger Pay attention to the CEO. It’s their job on the line. What have they promised to their shareholders?
@therealadbadger: Clients always reveal the secret to winning a pitch if you’re listening closely
@Linkergy:CMO’s say they need Reader’s Digest version of what makes the agency unique.It’s a culling exercise.WOW us in 30 mins
@Linkergy cmo panel says analytics are absolutely table stakes today, no longer just a nice-to-have.
@Melissa_Robison Average lifespan of a #CMO is 2 years: Nick Utton, E*Trade at#mirren
@pinkbird_biz Clients are adding to roster vs. wholesale change. Implication?…get in the door, solve a problem, build a relationship over time.
@omutak: The worst agency cliche: Take your brand to the next level.
@tomzazueta: “Fastest path to revenue is influencing your client’s revenue.” – Brent Hodgins
@Melissa_Robison E*Trade CMO: we are ruled by Wall St. and graded every three months. Need agency big ideas. If they fail, fail cheap and fast.
@ashandy73 “Agencies try to be liked at the cost of being respected.”
@cullenob: “Results” doesn’t mean results in clients’ eyes. Use their lexicon, not yours, if you want to show category expertise.
@therealadbadger: Process is process. There’s nothing proprietary about it.
@cagrana: What’s the most powerful word in New Business?: NO. Have self respect and stick to your limits.
@cagrana Best presentation tools? PPT is out, conversations and Prezi are in.#Mirren.
@edwardboches: if you have to tell a client you’re digital, social, or mobile that’s a crock. If you really are they’ll see it.
@HeidiReys Search consult panel: “U have more control over price than U think. Ex: recent winning agency comp was 40% higher than others”
@tonysignore Don’t try to be all things to all people. Focus. Look at where you do your best work and add to that.
@awbrown: Hiring people with computer science backgrounds is a major trends for agencies.
@mediatwo: #mirren If a client doesn’t fall in love with you, you will NEVER win the business.
@cherwenka Funny brand example: Designer condoms called Proper Attire. If you aren’t wearing one you aren’t getting in
@hugeinc: @edwardboches we try to learn from ourselves too much. We shd get as far away from ad industry as possible to learn.
@HeidiReys Reviews are elimination process all way thru and usually won in pitch vs. client preferences at beginning. Chemisty is huge.
@pinkbird_biz Don’t underestimate the importance of structuring your physical space to support innovation & collaboration
@markschnurman If you can’t present well (or any team member), you are not going to win. I did not pay him to say this:-) Brian Goodal
@dherscott Its not over until its over – never give up throughout the pitch process – indeed!
@rinsights Online surveys are the most cost effective quant research technique. Make sure they are well designed by experienced researchers
@rinsights: Focus groups are great, but many bad decisions can come from them. Use them for “exploring,” not “deciding.”
How did you change your agency to make it more innovative? @tonysignore “make hard choices including personnel changes”
@markschnurman Re: Search consultant- Doing work that gets notices puts you on search consultant radar-Brian Goodall
@cherwenka “74% of the time when a client fired it’s agency, they said they were happy with the work.” -Signore, CEO Taylor
@Malbonnington Love this, from @edwardboches @ #mirren: “Mullen’s new one word mission statement: #velocity“
@jbraftus The only proprietary tool agencies have is their people
@LindsayBL quoting 4A’s study: 617 pitches last year, only 23% of which run by search consultants (down from 38% in prior years)
@rinsights Webcam focus groups trim deadlines, save on time and travel cost, allows geographic diversity
@mediatwo All agencies only have ONE proprietary tool: your people. Showcase them in RFI
@mediatwo Worst mistake in submitting RFI is length. Be innovative and show examples but keep short
@MARKLIMBACH Interesting 4. Clients and agencies agree…67% rely on gut & instinct, 33% on data.
@mjgoldberg Act your way into a new way of thinking instead of thinking your way into a new way of acting.
@cynthiahprice Enthusiasm around what is possible is still one of the best business development tools. Andrew D. From Mother at #mirren
@jbraftus Agencies and clients are more alike than different
@dglittlefield 59% of agencies and clients think an agency’s role is becoming more important in the world of branding and marketing.
@DavidRCampbell: 52% of agency employees like there jobs vs 31% of clients
@pinkbird_biz: @4As Tom Finneran encourages agencies to adopt P&G’s BAL Model: ‘one throat to choke’ for agencies & client
@pinkbird_biz The world is changing. New business today is more global than it’s ever been before.
@cullenob Thought leadership, and standing for something as an agency, formula for new biz, not gimmicks. @scottfrog
@dglittlefield Agencies: Be bold. Be distinctive. Today’s bold doesn’t mean outrageous.
@HeatherWit Today, clients are looking for thought leadership. Gone are the days of the “dog and pony” show
@edwardboches: RT @HeatherWit: Agency cliches: We have: “the best people, award-winning creative, proprietary process…”
@thinairchi: 4As reports average digital agency hourly billing rate is half that of a midsize law firm.
@Cathy_Carl When a client sends you an RFI, you should send them an RFI. An adult, peer-to-peer discussion is a must
@joelparent If we don’t all play by honor system Agencies will lose battle against Brands that seek 2 abuse us. #mirren Hold the line! This. Is. Sparta!
@cherwenka AAAA study across 98 spec work pitches: 67% of winning pitch work was implemented.
@dglittlefield AAAA’s has benchmark for agencies when dealing with… “Your rates are too high!” did u know average hourly rate is less than $150?
@galaxie65 I believe that Tom Finnernan from 4A’s speaks for all agencies and we must increase our rates for our business
@HeatherWit “Vet it quickly and vet it early” (regarding knowing a client’s budget sooner than later) – Stephen Larkin
@mediatwo 4As Tom Finneran says marketing survey shows brands use avg of 13 agencies and 5 are digital
@dglittlefield Creativity is often a feeble weapon… the client problem is strategic, not creative.
@HeatherWit More than having the will to win, you must have the will to *prepare* to win (via @HeatherWit @tomzazueta
@galaxie65 Interesting that agency fees on a standardized basis decreased more than 50% in past 20 years. This needs to change.
@HeatherWit The most substantial thing you can do to regain your power – is to walk away. Take control of how you operate your business.”
@HeatherWit “In all negotiations, you usually have more power than you think you have. They key is to tap into that source of power.” (Gleason)
@maureendevine stop thinking like an agency and start acting like a consultancy = seen as more credible and get make more moolah
@cherwenka: Ouch. “your real competitor is your client, not other agencies.” That seems to be the theme here.
@jonjonbailey Be the orange in a basket of apples.
@MARKLIMBACH The avg agency is doing 20% of its work for free, with the othe 80% being under-paid by client
@HeatherWit “Vet it quickly and vet it early” (regarding knowing a client’s budget sooner than later) – Stephen Larkin,
@DavidRCampbell: Quote of the conference #mirren “Pee in the Shower, it’s fun and 69% of agency people do it”

Which was your favorite? Share it in the comment section. If you were an attendee, please share your best take-aways from this event.

The #MIRREN hashtag generated 429 tweets in a 24 hour period, 648,305 impressions, reaching an audience of 269,600 followers on Twitter. Click on the following link to review the report: HashTracking

Another article that may be of interest: The Future of Ad Agency Promotion at Events Through Social Media

3 Comments | Agency Leadership, New Business Trends, Special Events, Twitter | Tagged: David Littlefield, Edward Boches, hashtags, Michael Gass, Mirren, Mirren New Business Conference, Twitter | Permalink
Posted by Michael Gass

Ad Agencies: Three Things a New Business Director Needs for Success

April 12, 2011

A significant paradigm shift has taken place that impacts how ad agencies acquire new business that effects the knowledge and skills new business directors need to make it happen.

“With over 50% of client relationships lasting less than two years and the average CMO tenure 27 months, the role of new business at our agencies is more important and a bigger focus than ever.”

Heather Witalisz, Training Director for Mirren Business Development, recently asked me, “what are the top three things a New Business Director must do to be successful?” As I reflected back on my answer I thought this would be a helpful topic to flesh out a bit more. So here are three things a new business director must do to be successful:

1. Digital and Social Media Savvy

The role of the agency new business director is becoming more complex. People who have done this job well in the past are finding it difficult to find success in this current climate.

According to a recent 4A’s and Arnold Worldwide survey, 90% of agency staff say they have to figure things out on their own due to the lack of training.

Unfortunately this bodes the same for many agency new business directors. You may have to create your on ‘continuing education program’ when it comes to digital. It’s important that you do, because it’s almost impossible to ‘sell it if you don’t understand it.’

Having a working knowledge of social media isn’t even an option any longer for an agency’s new business director. Social media is having a big impact on how agency’s promote themselves and how they are found online by their prospective client audiences.

Here are the ways social media is impacting agency new business:

A paradigm shift for how new business is acquired. According to a recent CMO survey, 80% of decision makers say they found the vendor, not the other way around.
SEO is now a critical part of new business strategy. According to Marketing Sherpa, 80-90% of business to business transactions begin with a search on the web.
An agency blog is a necessary component for marketing your agency. As necessary as it was for an agency to have a Website, it is now as relevant for them to have a blog. It becomes the gateway to the agency and puts a face to it.
The growth of new media mandates agencies participation. Social media is now mainstream, your agency’s credibility is suspect if it isn’t walking the walk, not just talking the talk.

2. Be Empowered to Lead New Business

There’s an old saying that cobbler’s children have no shoes. It refers to the fact that a busy cobbler will be so busy making shoes for his customers that he has no time to make some for his own children. If I had a dollar for every ad agency that has used that metaphor as their excuse for why they neglect their own new business program I could have retired long ago.

It’s time for agencies to give the cobbler’s children some new shoes!

How?

Empower your new business director. Give them the clout and resources to get what they need from the agency as if they are the primary contact person for your most important client. Their projects are not put on the back burner when the agency gets busy. Allow them the time, resources and realistic expectations to build a consistent new business pipeline.

3. Create a Narrower Niche and Appealing Position for Your Agency

The FOUNDATION of an ad agency’s new business program is its positioning. Creating the right positioning is a lot like fishing. A successful fisherman fishes for a specific fish, with a specific bait, the right equipment and he knows just where to fish. He has developed the expertise to land the real trophies.

“The common failing among agencies seeking new business is the inability, or unwillingness, to name what they stand for,” Bob Lundin, Agency search consultancy Jones Lundin Beals

Combining social media with your agency’s niche can become an appealing and powerful positioning. Here are a few examples:

Holland + Holland advertising, Birmingham, AL, through their blog She-conomy: A guys guide to marketing to women, has been invited to 3 national pitches in the past year as a result of their differentiating positioning. That had not happened before in their 25 year history.
The Littlefield ad agency, Tulsa, OK, is carving out a niche through their The One Thing blog: The casino marketers guide to understanding gamers, written by the agency’s new business director, Kelly Fiddner.
MAX Advertising, Atlanta, GA, has created The Matte Pad, Marketing know how for the legal profession, written by its CEO, Tom Matte.

Agencies desperately need an expert/specialist in the mechanics of new client acquisition, someone who has the sole focus and capabilities to bring “life-giving” new business to the agency.

21 Comments | Agency Leadership, New Business Tips, New Business Trends, Positioning | Tagged: ad agency new business, Littlefield, Michael Gass, new business directors, Social Media, Tom Matte | Permalink
Posted by Michael Gass

Why Ad Agencies Should Stop Obsessing Over Their Competitors

April 11, 2011

“You cannot discover new oceans unless you have the courage to step away from the shore” – Nobel Prize-winning author André Gide.

I recently read an insightful article on why the focus of a company’s (agency’s) business strategy should not be upon its competitors. The article was written by Gabor George Burt, internationally recognized expert on innovation, creativity and strategy development and the author of the book, Slingshot.

Burt states, “In today’s marketplace, I would argue that doing something unprecedented is not just adventurous but imperative … eliminating competition by trying to beat it is dangerously shortsighted.”

Small to midsize ad agencies, for the most part, have been asleep at the wheel while our industry has been totally reshaped by The Great Recession, the transition from traditional marketing to digital and the rapid emergence of social media.

Burt provides a similar example of what happened to Kodak in 2003, when it was caught sleeping as the world transitioned from film to digital photography.

“The company severely misjudged the speed and impact of this transition and its lifestyle implications. As a result, Kodak’s core business, in which it was clearly dominating its competitors, was on a fast track to obsolescence.”

What were the consequences?

After 74 years, Kodak was delisted from the Dow Jones Industrial 30 Index of leading American companies in 2004. Kodak then embarked on a radical and painful restructuring to reestablish its relevance.
It had to cut 25,000 jobs.
It posted 8 consecutive quarters of losses through the end of 2006, with a single quarterly loss of as much as $1 billion in 2005.
Even though Kodak quickly became a leader in digital photography, it was not a sustainably profitable business.

Burt writes, “In simplified terms, the company’s core business shifted from being a monopoly to being a commodity in the blink of an eye, and it had to scramble to reinvent itself.”

Advice to Ad Agencies:

“…instead of trying to figure out how to beat competitors, smart strategy looks to change the rules of competition altogether.”

Difficult times can be a great time to separate your agency from the rest of the pack. In an economy where there are too many agencies that look, act and talk just the same now is the time to rethink long-held strategic assumptions inside your agency and challenge decades of conventional wisdom in our industry, and push to learn, grow, and innovate.

Here are some tips, to stimulate your thinking, on how to change the rules and break out of the pack:

Change breeds opportunity. Don’t play by the rules, unlevel the playing field and redefine the rules of the competition. Be the first to find new opportunities. “With the unveiling of the iPad,” Burt writes, “the company symbolically stepped away from the familiar confines of the PC era, leaving behind its own initial core business along with the competition.”
Don’t wait for other agencies to lead the way, be innovative. French novelist Marcel Proust said, “The real act of discovery consists not in finding new lands but in seeing with new eyes.”
Break out of your comfort zone. Agencies have been comfortable in the middle of the road. But today, as William C. Taylor says, “the middle of the road is the road to ruin. The only thing in the middle of the road are yellow lines and dead armadillos.”
Remember that training is critical to success. The larger agencies are now rising to meet the escalating demands for digital, most of them are now requiring that almost all of their employees develop digital skills.
Stimulate creativity for ad agency new business. A lot of small to midsize ad agencies have chosen to take shelter during the recession, but that strategy doesn’t provide any creative stimulation for ad agency new business. Perhaps the better strategy would be to dramatically shift your agency’s thinking, spur innovation and enthusiasm by setting some challenging new business goals.

Click on the following link to read Burt’s article, Why You Should Stop Obsessing Over Your Competitors.

Additional articles that may be of interest:

1 Comment | Agency Leadership, Fuel for Thought, New Business Trends, Positioning | Tagged: ad agency new business, competition, Gabor George Burt, innovation, Michael Gass | Permalink
Posted by Michael Gass

The Future of Ad Agency Promotion at Events Through Social Media

April 1, 2011

Social media can enhance your special event experience and make networking for new business easier.

Without a doubt an industry trade show or conference has been a beneficial professional networking event for business opportunities. Social media has transformed these events and taken them to a new level.

“I think social media is changing the nature of interaction surrounding conventions,” said Steven Paganelli, vice president of business development-DMOs/CVBs for the Washington, D.C.-based, TIG Global. “Certainly, the opportunity to connect on a higher, more meaningful level face-to-face has always been at the heart of meetings and conventions, but social media tools and new technologies are making it easier for delegates to move beyond their comfort zone to meet new contacts, share ideas and engage in these events in deeper ways.”

In an American Express OPEN Forum article, Scott Belsky, Founder and CEO of Behance, shares insights from his 4-day experience at this year’s South By Southwest Interactive Conference. I’ve taken Scott’s main take aways regarding the future of advertising and self promotion to highlight the future of ad agency promotion at events through social media for new business:

1. Curation is a great tool for agency self-promotion.

Scott identifies one company that stood out above all others at this year’s SXSW event by serving as a curator of of event information.

“AOL set up a booth where they sorted through the day’s news at the conference and streamed channels of information for particular interests. In effect, AOL was serving as a curator of the overwhelming amount of stuff, and people gravitated toward the booth.”

This is a great social media strategy for ad agency promotion. Become a curator of information by allowing your agency blog and website to be a repository of helpful information for your prospective clients. Scott says, “If people like your taste—or just the way you display information—they will tune into your message.”

I was able to interact with attendees of Ad Age’s first Small Agency Conference. From my social media interactions I was able to create this article: 50 of the Best Insights from Ad Age’s First Ever Small Agency Conference. The amazing thing – I wasn’t there!

I was able to create this list of the 50 Best Insights in an article for my blog and propagate it through my 50,000 + followers on Twitter before the conference was even over.

I also helped spread the word of the conference, create buzz and assisted in generating traffic for the conference sponsors: AdAge andAOL Advertising.

It put me on Ad Age’s radar: @adage And it’s not even over! RT @michaelgass 50 of the Best Insights from Ad Age’s First Small Agency Conf #smallagency http://bit.ly/bTZqhL

2. The Future of Advertising (networking) is Education.

I wasn’t able to attend this years SXSW event, but according to Scott, the future of advertising was one of the main topics of discussion.

“With brands in the hands of the people, a new genre of advertising will arise that is more authentic and borderline educational. Companies will tap their expertise as a way to win people over. For example, GE knows a lot about the future of energy and jet engines, Pepsi knows a lot about marketing and beverages, The New York Times knows a lot about journalism.

While you would likely skip over any commercials from these brands, you might be interested in their perspectives in areas where your interests intersect.”

Social media can play an important role in defining your agency’s brand. To be successful with social media you are compelled to lead prospective client engagement with benefits and value rather than agency capabilities and credentials. Check out these “Top 10 Benefits of Social Media for Ad Agency New Business.”

Education provides a great networking platform to build value for your prospects and positioning of leadership for you and your agency.

3. The value of attending conferences lies with personal connections, not panels.

Some people believe that we are so connected online that offline conferences, seminars and trade shows are losing their importance. Scott’s takeaway is just the opposite:

“In a world of increasing remoteness and virtual relationships, the benefits of physical engagement only increase. I would argue that conferences will become MORE essential as our lives become more digital.”

Social media has transformed offline events and can maximize the personnel connections with prospective clients. Your involvement with blogging, Twitter, Facebook and LinkedIn can change your whole experience. You can “get to know” many of the exhibitors, speakers and event attendees from your online interactions that will propagate and enhance meeting them in person.

I recently received this note from Tom Matter, CEO of MAX Advertising in Atlanta. Tom’s agency specializes in law firm marketing and had this to say after attending the Legal Marketing Association’s Conference in Orlando:

“I wanted to tell you how fast we have been noticed by the national legal marketing community. We are easily the most talked about new marketing strategy and creative shop in the business.

All the blogs we followed last year to get started are all now following me for content ideas! They told me this themselves. I

had women stop me and ask to get my picture taken with them because they love The Matte Pad!! No joke. So many people read it and follow it with their RSS reader.

It was great validation for all the hard work we are putting into it. MAX Advertising is a great social media success story. We will get so much work from the conference it’s not even funny.”

Tips for participating in special events using social media:

Include a banner for the event in your blog’s sidebar.
Information about the event in your email newsletter.
Invite one of the event organizers to write a guest post.
Write your own article prior to and/or after the event.
Find out if the event already has a Twitter #hashtag set up. If they don’t suggest one to the event organizers. Use the hashtag for Twitter posts about the event, before, during and after.
Use the time to network
Conduct interviews. Use your iPhone to video and edit podcasts that you can share on your blog.
Act an a reporter for the event with live updates via Twitter, Facebook and LinkedIn.
Set-up “meet-ups” from your online networks of people

Click on the following link to read Scott’s article, “SXSW Interactive Takeaways: The Future Of Advertising & Self-Promotion.” If you are an event speaker, you might find the “7 Traits Event Organizers Need From Speakers” helpful.

8 Comments | Agency Networks, Best Practices, New Business Tactics, New Business Trends, Social Media, Speaking, Special Events | Tagged: Ad Age, Behance, CEO, curation, events, MAX Advertising, Michael Gass, networking, Scott Belsky, Social Media, Steven Paganelli, Tom Matte, trade shows | Permalink
Posted by Michael Gass