Fueling Ad Agency New Business
Full service advertising agencies are filled with talented people but often lack specialists that have a much narrower focus of expertise. Consumers, brand marketers and marketing channels have changed and so has the traditional advertising agency. Smaller agencies often possess specialties and a nimbleness that allows them to adapt quickly to a rapidly changing marketing landscape. […]
Can you define your agency’s positioning in a simple statement? I can’t begin to tell you how many agencies I know struggle with this. The starting point for any ad agency new business program is your positioning. It is a fundamental prerequisite for small and midsize agencies. Positioning is everything. But it is also the place where most agencies where most fail.
If want to know what irks CMOs the most about ad agencies the recently released GLG Councils Report —”Closing the CMO / Agency Gap: How Agencies Can Win Business and Build Stronger Client Relationships,” provides some excellent insight.
I’m attending and speaking at The Mirren New Business Conference in New York today. It is considered to be the premiere new business conference for advertising agencies, marketing, public relations and digital agencies. Over 400 agencies, from across the country, are represented by those charged with new business development.
Edward recently recently wrote a great piece for his blog Creativity Unbound, “Five questions every CMO should ask a prospective ad agency.” He points out that most RFIs (request for information) sent to agencies are asking about an agency’s past. But he states,”… you’re not hiring an agency’s past, you’re hiring its future.
Stephan Boehler, founder of the Mercer Group, in a AAAA New Business Webinar Series, “How to Work with Search Consultants”, offers some sound advice, for small to midsize ad agencies, direct from Ad Agency Search Consultants:
I recently wrote an article about the powerful benefits of Threads, taunted as the next-generation social media platform. While Threads brings a host of benefits to the table, it’s important to consider some potential drawbacks or challenges associated with the platform:
In an era where social media has become an integral part of our lives, new platforms are continually emerging, aiming to revolutionize the way we connect and communicate. Among these innovative platforms, Threads is rapidly emerging as a frontrunner, offering a unique and enriching experience for users.
Streamlined and Focused Communication:
Threads sets itself apart from traditional social media platforms by focusing on streamlined and efficient communication.… Continue reading
AI offers a wide range of benefits across a variety of industries and applications. It has the potential to transform the way that businesses, leading to increased efficiency, accuracy, personalization, and innovation.
AI, is still a relatively new technology but it’s time that ad agencies carefully evaluate its potential benefits and drawbacks from a new business perspective.
Here are a few examples of the practical ways AI will enhance your agency’s business development:
The battle for new business is online which makes community development indispensable for marketing your agency. Knowing how to build an online community has become an important skill-set.
Since I started my consultancy in 2007, I’ve advocated creating a niche blog for agency new business. I’ve helped launch over 450 personal blogs for agency principals.… Continue reading
I wanted to share, from my personal experience, one of the typical challenges of small to midsize advertising, digital, media and PR agencies. They are often described as the cobbler’s children who have no shoes.
The most common positive trait among these agencies is that they know how to take care of their clients. But what is their most common negative trait?
A mission statement is a statement of the purpose of a company, organization or person, its reason for existing. The mission statement should guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-making. Wikipedia
The mission statement captures the heart of an organization, what it stands for and why it exists.
Here are some examples of the mission statements of popular digital businesses:
There are big rewards from content marketing, but it’s also a big challenge. Writing is a process that takes time and effort. Even the best writers have difficulty putting their ideas into words.
Most of us aren’t born with the gift for writing. We have to work at it.
Less effective writers usually spend:
My friend, John Sharpe, has spent nearly forty years in the ad agency business and the last twenty in business development exclusively. He is a personal friend and mentor with an impressive resume. So when John tells me that he has just read one of the most influential business development books in his lifetime, he had my attention.… Continue reading
People who have done this job in the past are struggling. The tenure of a new business director is now two years or less. In a recent survey conducted by RSW/US, only 26% of new business directors were considered successful.
A 4A’s report sited that 90% of agency staff say they have to figure things out on their own due to the lack of training.… Continue reading
Part of Steve Jobs’ 12 Rules of Success: Perform SWOT analysis. As soon as you join/start a company, make a list of strengths and weaknesses of yourself and your company on a piece of paper.
This strategic planning method, when used properly, can be a valuable tool for making decisions, setting strategy, and evaluating courses of action.… Continue reading
Michael Gass, Business Development Consultant | Speaker | Author of Fuel Lines
Fuel Lines provides new business resources for Advertising, Digital, Media and PR Agencies.
It has been rated among the top 100 marketing blogs in the world, according to Ad Age’s Power 150.
Since 2007, Michael has helped pioneer the use of social media, inbound and content marketing strategies specifically for agency new business.
Read more about Michael
An essential component to your agency's new business program is a prospective client data base.
In my opinion one of the most accurate online database of marketing and advertising decision makers is Winmo. I highly recommend them.
I'm Michael Gass, I'm an author, speaker and a new business consultant to advertising, digital, media and PR agencies.
Since 2007, I have helped pioneer the use of social media, inbound and content marketing strategies specifically for agency new business.
Fuel Lines is my social media 'home-base. It has been ranked among the top 100 marketing blogs in the world, according to Advertising Age’s, The Power 150.
Learn more about me