Advertising agencies should be interested to learn how other companies are using Social Media. Not only for their clients interest but also for their agency’s new business practices utilizing Social Media.
Respondents to a recent McKinsey survey show widespread interest in user driven online services, peer-to-peer networking, blogs, podcasts, and online social networks. These companies say that new media communication technologies are strategic and that they plan to increase these investments.
- More than three-fourths of executives who responded to a McKinsey survey say they plan to maintain or increase their investments in technology trends that encourage user collaboration, such as peer-to-peer networking, social networks, and Web services.
- More than half say they are pleased with their past Internet investments, though some regret not boosting their own capabilities to exploit technology. More executives said they should have acted faster than slower.
- Retailers, who consider their companies cautious investors in the past, are stepping up their pace today.
- In a follow-up discussion, respondents describe how these innovations are creating a new way of bringing technology into businesses, one that is easier to implement and more flexible than traditional top-down approaches. They also offered insights into how and why their companies are using social media and where these technologies may offer a sustained competitive edge.
Read the entire McKinsey survey findings
There is a paradigm shift in the way agency new business is being acquired. Instead of pursuing prospective clients, it is now all about enlarging your agency’s online footprint, appealing differentiated from your competitors, leading with the benefits your agency brings to the marketing challenges of your best target audience.
How is your agency using social media for new business?