Four Ways Social Media is Changing Advertising Agencies New Business

 four ways social media changes new business

To paraphrase Little Orphan Annie, “Tomorrow is only a day away.”

Traditional advertising agencies face significant technical challenges. Consumers have turned away from media channels that built the agency industry and have moved toward emerging internet media.  Ad agencies must build new interactive competencies quickly in order to survive.

I receive inquires almost daily from ad agencies who are trying to discern how social media marketing will impact their current new business business model.

I’ve highlighted four ways that social media is changing ad agency new business:

  1. 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. Instead of finding your prospects, the “new” new business paradigm for Marketing 2.0 is to help your prospective clients find your agency.
  2. 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. That means that SEO is a very important component to your agency new business program.
  3. An agency blog is a necessary component for marketing your agency. It wasn’t that long ago that it became understood, every business needed a Web site. Today it’s, every business needs a blog. This is especially true for ad agencies. We’re suppose to be leading not following our clients.
  4. 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. I can’t imagine ever advising a client to deal with an advertising, PR, or interactive team that doesn’t get social media. One of the best ways to demonstrate your agency’s participation is to incorporate new media into your new business program.

Combining social media and ad agency new business, provides a powerful, inexpensive and highly effective combination for your agency’s self promotional efforts.

photo credit: Leo Reynolds via photopin cc

About Michael Gass

Consultant | Trainer | Author | Speaker

Since 2007, he has been pioneering the use of social media, inbound and content marketing strategies specifically for agency new business.

He is the founder of Fuel Lines Business Development, LLC, a firm which provides business development training and consulting services to advertising, digital, media and PR agencies.

Comments

  1. Al Shultz says:

    You said, “I’ve highlighted 4 of the ways social media is changing agency new business practices: Read more…”

    I clicked. I read. But I did not see the four ways?? Am I missing something?

  2. No Al you weren’t missing something. My bad. I’ve made some edits to state the ways social media is changing new business. Thanks for the response.

  3. Christopher says:

    Hey,

    just happened upon your blog. Great stuff, man.

    I am a recently laid off ECD in Chicago, contemplating launching my own agency (novel idea, huh?).

    Writing a business plan. Got to the part about new business and drew a blank. Then did a google on “how ad agencies get new business”.

    Your blog was at the top of the list.

    I love the internet. Thank you, Al Gore.

    And I love your blog. Thank you, Michael.

  4. Christopher,

    I’m glad you found my blog helpful. If there are specific questions I can help you with regarding new business please let me know.

  5. Christopher says:

    right on.

  6. I think you could add Location Based Services such as Proximity Based Marketing to the mix. Have a look at what we did at http://www.locationinnovation.co.nz. Two categories in the location innovation awards were by Tequila. Others are also starting to explore this concept in Europe, UK and USA

  7. Sameer Issa says:

    Unfortunately agencies just don’t get it.. the big wave of change is already here.. social media is a main stream, I think the main keyword they need to hear is LISTEN
    LISTEN..
    Just stop talking, and rise above the noise,
    it will force them to start conducting business the way they should’ve done it long time ago.
    Check out this presentation about social media, it says the whole story..
    http://www.slideshare.net/sameer14215/social-media-in-a-changing-media-landscape

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