Fueling Ad Agency New Business Through Social Media
A total of 430 advertising agency executives participated in the 2010 Advertising Agency New Business Survey.
The survey was sent by e-mail to a database of over 10,093 U.S. full service advertising agencies ranging in staff size from 5 to 350 full-time employees. The survey closed end of day, December 31, 2010.… Continue reading
Forrester’s recent projections of interactive marketing spend through 2014 show social media increasing at an average of 34% year over year.
A national survey provides insight into what marketers want from their agencies. The Agency of the Future Survey, sponsored by Sapient. Though this survey was conducted just over a year ago, it is a perceptual look back as well as a look forward and still has relevance for agencies today.… Continue reading
“If all you’ve got is a spreadsheet filled with red ink and dire forecasts, it’s easy to be paralyzed by fear and resistant to change. But if you can summon some leadership nerve, then hard times can be a great time to separate yourself from the pack and build advantages for years to come.” Bill Taylor, best selling author Mavericks at Work.
Harvard Business Publishing, is part of my daily reading. An article I read this morning by author, Bill Taylor, “The 10 Questions Every Change Agenct Must Answer” was adapted for this post.… Continue reading
Most ad agencies have an unfocused new business strategy. They try to be everything to everybody. Tim Williams, in a recent article titled, “Focus to Grow”, says,
“In turbulent times … The natural response is to “try a little bit of everything”; to expand your services, broaden your capabilities, and try to appeal to more clients. It seems like common sense, but it’s exactly the wrong response. The best growth strategy — in good economies or bad — is to decide what not to do.”
Tim sites these five benefits for the agencies that are willing to expand by narrowing their focus:
The U.S. has experienced nine recessions since World War II, which means we’ve lived in recessionary times one year out of every six.
A recessionary period is actually a great time to promote your agency an increase your market share and profits.
In a recession, clients usually significantly cut their marketing budgets, even though it is the most important tool a business has during this difficult time. Ad agencies tend to do the same, having a hunker down and wait mentality.
Given the current economic crisis and the communications revolution, on Monday, February 23rd, media baron Rupert Murdoch issued an urgent internal communication, warning his staff:
“We are in the midst of a phase of history in which nations will be redefined and their futures fundamentally altered. Many people will be under extreme pressure and many companies mortally wounded. Our competitors will be sorely tempted to take the easy beat, to reduce quality in the search for immediate dividends.
Let me be very clear about our company: where others might step back from their commitment to their viewers, their users, readers and customers – we will renew ours.”
He declared, “The direction of the business now and over the next few years will define the character of our company for decades.”
Hopefully the advertising industry, with all of its resilient creative and intelligent minds, is as committed to finding solutions for its clients during the current economic crisis and global communications revolution.… Continue reading
BusinessWeek‘s online Business Exchange now has posted a synopsis and links to over 192 news articles and 202 blog items on the subject of “Advertising In A Recession.” This topic is part of Business Exchange idea, suggested by Jessica Sibley. I’ve added an additional six “advertising in a recession” articles of my own for a total of 400.
One of my favorite agency blogs, The Ad Contrarian, has the most read article out of them all entitled Good Strategy For Bad Times, written by guest blogger Sharon Krinsky.
Here are the top 10 “Advertising in a Recession” articles:
Let me preface this post by saying that small to midsize 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.
Promote your agency through the recession by expanding your agency’s “Online Footprint.”
In 2008, four things have taken place that particularly impacts small and midsize agency new business:
I'm Michael Gass, a new business consultant to advertising, digital, media and PR agencies. I help make new business EASY. Read more about me
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 The List. 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.
My social media 'home-base' is Fuel Lines, which in 3 years time grew into an influential business development blog and has been ranked among the top 100 marketing blogs in the world, according to Advertising Age’s, The Power 150.
Learn more about me
