Skin in the Game: Ad Agency Creates Mini-Mutual Fund of Clients’ Stocks

January 19, 2010

Clients want more accountability from their Ad Agency. Here’s an example of an agency that has found a unique way to put some “skin in the game.”

A New York advertising agency, Kirshenbaum Bond Senecal & Partners has created a mini-mutual fund of its agency clients’ stocks that are publicly traded.

“We’ve been hearing from a lot of clients that they want more accountability, they need us to own their challenges.” Lori Senecal, Kirshenbaum Bond president and CEO.

The agency spent $500,000 to start this Client Stock Index. The 300 employees of Kirshenbaum Bond will be offered long-term cash and compensation incentives to mirror the performance of the stocks in the index, which they will be able to track each trading day on an intranet on the agency’s Web site.

Starting an agency mutual fund was among 50 ideas presented by employees at a crowd-sourcing meeting in October that sought proposals to help revitalize Kirshenbaum Bond from everyone who works there. The index was the brainchild of two Kirshenbaum Bond employees: Aric Cheston, partner and creative director, and Matt Powell, chief technologist. They will each receive a cash bonus of $10,000 from MDC.

“Agencies either go forward or backward; they don’t stay the same,” said Richard Kirshenbaum, co-chairman at Kirshenbaum Bond,  “it’s time to have renewed energy and spirit at a time when the landscape is changing” for the advertising business.”

Read the entire New York Times article by Stuart Elliot: “Agency Combines Clients’ Stocks for a Mini-Mutual Fund”

Additional article that may be of interest: Edward Boches: 5 questions every CMO should ask a prospective ad agency


5 Comments | Agency Leadership, New Business Trends | Tagged: , , , , | Permalink
Posted by Michael Gass

New Apple device could change the way we read newspapers, magazines and books

October 26, 2009

 

It is imperative for agencies to stay on top of new communication devices and their impact upon our industry and clients.  That said, you can simply follow Apple. They’ve set the standard and everyone else is playing catchup.

Apple has transformed the way we listen to (and purchase) music with the iPod and iTunes. It also changed the way we use our cellphones with the iPhone. Will it also transform how we read newspapers, magazines and books?

I was just reading this article in PCWorld “Apple Tablet: Did The New York Times Spill the Beans?“

The New York Times’ executive editor, Bill Keller, may have inadvertently confirmed the existence of the oft-rumored Apple Tablet in a private speech earlier this month. During the speech, Keller made a reference to the Times’ strategy for mobile devices. “We need to figure out the right journalistic product to deliver to mobile platforms and devices,” Keller said. “I’m hoping we can get the newsroom more actively involved in the challenge of delivering our best journalism in the form of Times Reader, iPhone apps, WAP, or the impending Apple slate, or whatever comes after that.”

kindle

Amazon has recently announced that they are working on a Kindle app for Mac that will allow customers without a Kindle device to be able to purchase ebooks, magazine and newspaper subscriptions. The Apple Tablet could be the perfect match for the Kindle experience.

Below are some additional mockups of what the Apple Tablet might look like.

logan_lape2_468

apple-tablet-PC

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6 Comments | New Business Tools, New Business Trends, Social Media | Tagged: , , , , , , | Permalink
Posted by Michael Gass

FUEL LINES’ Super Bowl “Advertising” Coverage

January 31, 2009

 

The Super Bowl is not only the Super Bowl for football but also for the advertising industry. What’s the newest trend for this year? The incorporation of social media.

Preview Super Bowl Ads prior to the game: ADWEEK MEDIA SUPER BOWL XLIII

A  good variety of top articles, posts, tools and sites regarding Super Bowl advertising:

  1. Adweek: Super Bowl Ad Drive Leads to Brand Sites - Thirty percent of respondents to a recent survey of those who plan to watch the big game said Super Bowl commercials increase the likelihood they’ll visit an advertiser’s Web site, while more than one out of five said they’ll be tuning in “exclusively or predominantly” for the ads. The survey conducted last week for Hanon McKendry also found women more likely than men by 31% to 11% to watch the telecast for the commercials.
  2. Advertising Age: Direct-Response Cash4Gold Buys Into the Super Bowl - Cash4Gold will run a 30-second commercial in the Super Bowl and a 60-second ad in NBC’s pre-game show, making it the first direct-response advertiser in that venue, according to the Pompano Beach, Fla., company. Havas’ Euro RSCG Edge made the spot, featuring pitchmen Ed McMahon and M.C. Hammer — both celebrities who have had financial setbacks.
  3. Brandweek: Frito-Lay’s Chester the Cheetah gets Super Bowl Spotlight - Frito-Lay is planning a 30-second ad with animated Cheetos pitch-creature Chester the Cheetah during the Super Bowl. The ad, which shows pigeons attracted by Cheetos crumbs attacking an annoying woman, will be shown in the first half of the game.
  4. NY Times: In tough times, Super Bowl advertisers must pitch with care – Super Bowl advertisers have a tough challenge this year: providing entertaining spots that are memorable, effective and don’t appear to be making light of the economic recession. PepsiCo Americas Beverages CEO Massimo d’Amore said, “It’s an historical opportunity to bring a moment of joy to consumers who have been squeezed.” But some advertisers are sitting out the Super Bowl because of the down economy and rising unemployment. Steve Pacheco of FedEx said, “Being in the game simply sends the wrong message to employees and FedEx constituents.”
  5. WSJ: Super Bowl Ads Try Hard Sell - This year’s crop of Super Bowl ads will be notable for the hard-sell approach, according to Wall Street Journal advertising reporter Suzanne Vranica. Attack ads also will be in the mix, including a campaign for Denny’s that takes on rival IHOP.

Additional Super Bowl Advertising articles:

Vote for your favorite Super Bowl Ads:

On Super Bowl Sunday (February 1, 2009), viewers can visit www.ADBOWL.com and rate commercials on a scale between one and five.  Participants have the option of rating the ads online as they air or printing a ballot and rating all of the ads at the end of the game. A complete listing of the results, including a breakdown of winners as selected by gender and age group, will be posted on the site between midnight and 1 a.m. Eastern Standard Time on February 2nd.  Sponsored by  MCKEE WALLWORK CLEVELAND and RASSAI INTERACTIVE, their 9th year of hosting.

SUPERBOWL-ADS.COM: Super Bowl news, reviews and history

1 Comment | Social Media | Tagged: , , , , , , , , , | Permalink
Posted by Michael Gass