For ad agency new business, why no try doing the opposite of what you’ve been doing in the past.
“The Opposite Episode” of Seinfeld, George Costanza comes to the realization that he should try to do the opposite of everything to break his cycle of bad luck. So he does and his luck dramatically changes and everything begins to go his way including getting a girlfriend, a job with the Yankees and moving out of his parents’ house.
Almost my entire career in advertising has been spent in business development. Working with a lot of advertising agencies through the years, I’ve found they all have common problems when it comes to new business:
- The overwhelming majority have no target audience
- No point of differentiation
- Don’t use the marketing tools they recommend their clients use
- Have no new business strategy beyond personal networks and referrals
- Inconsistent new business practices
- Are their own worst client
- Use the same descriptive language that other agencies use to describe themselves: Great creative, strategic, outside-the-box thinkers, fun to work with, proprietary process
- Poor at promoting themselves
- Are always in a mode of redesigning their Websites
- Stay in a perpetual state of rebranding themselves
When business is good, new business practices are usually shelved and only pushed when more business is needed which causes a roller coaster effect. Turning the lead generation pipeline on and off like a faucet. This creates a a major problem because it generally takes months of consistent effort to generate leads from the agency’s new business pipeline.
How do you correct these problems? Do the opposite:
- Choose the best target audience for your agency. You can’t be everything to everybody.
- Create an appealing point of differentiation.
- Use the social media marketing tools you recommend to clients.Be an active participant.
- Have a written social media strategy for new business success.
- Be consistent in implementing your new business strategy. Keep processes simple and gauge them by what it would take to maintain when your agency is at its busiest.
- Allow your agency to become your best client.
- Social media can help your agency redefine itself with a language that resonates with your prospective audience.
- Practicing what you preach, using the tools recommending to clients and learn to promote your agency the right way. Don’t throw away your marketing mind when it comes to your own agency.
- Allow your agency’s Website to become the agency brochure. This will be the place to show your work, present your credentials and capabilities. In social though, always lead with benefits.
- Social media is the best tool I have ever used for agency branding. By incorporating all of the above.
I started my agency new business consultancy just prior to social media becoming mainstream. I soon discovered that social media can actually teach agencies how to do new business, the way they should have been doing new business all along.
Check out this article: “Social Media Teaches” Ad Agencies to Promote Themselves the Right Way”
Additional articles that may be of interest:
- Ad Agencies in “The Great Race” for New Business
- 50 Ad Agency New Business Tips
- The Changing Role of Ad Agency Rainmakers
- Ad agency having explosive new business growth by leading with social media