The foundation for any ad agency new business program is positioning.
Positioning is everything. It is a fundamental prerequisite for small and midsize agencies. But it is also the place where most agencies where most fail.
“The common failing among agencies seeking new business is the inability, or unwillingness, to name what they stand for” Bob Lundin, Agency search consultancy Jones Lundin Beals
Brand coach Josh says, “If you can’t say why your [agency] brand is both different and compelling in a few words, don’t fix your statement, fix your [agency] company.”
Can you define your agency’s positioning in a simple statement? I can’t begin to tell you how many agencies I know struggle with this.
Advertising agencies and other marketing firms must do for themselves what they do for their clients – this SlideShare presentation, Agency Brand Thyself, provides an excellent overview of agency positioning based on the work of Ignition’s Tim Williams as outlined in his book “Take a Stand for Your Brand: Building a Great Agency Brand from the Inside Out.”
Advertising agencies need positioning because prospective clients have lots of choices—and if you don’t stand out, you are going to struggle with new business.
10 Things a Clear Positioning Provides for Your Ad Agency:
- An increase in your agency’s relevance
- A direction for how your agency spends its time, money and resources
- An understanding on the types of persons to hire
- A better new business win ratio
- A strong appeal to a select group of prospects
- Prospects that line up with your agency’s core strengths, what you do best
- A broader market area
- Fewer competitors, because there will be fewer firms who do what you do
- Have prospects seek out your agency
- Better margins, because well-focused agencies command premium pricing