The FOUNDATION of an ad agency’s new business program is its positioning.
When you have the right positioning it’s like fishing for a specific fish with a particular bait. You know where the fish are, what bait is appealing to them, the right equipment to use and you have developed the expertise to catch the real trophies.
“By appealing to everyone, brands end up appealing to no one. Standing for everything is the same as standing for nothing.” Tim Williams, author of, Positioning for Professionals
So, the starting point for a successful agency’s new business program needs to be positioning. But it is also the place where most agencies 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
I hope these 7 benefits for having the right positioning, will spur you to more narrowly focus and define the uniqueness of your agency for new business.
The right positioning provides:
- A clearer direction for how the agency should spend its time, money and resources. It is amazing how these things fall into place so easily once the agency’s rudder has been set by the right positioning.
- A broader market area for your agency. A strong positioning, particularly coupled with social media can greatly expand your market area affordably. The Russo Group, Lafayette, LA, now generates over 90% of their new business outside of their market.
- A specific target audience. Through positioning you can have a well-defined criteria for identifying who are your agency’s best prospects that are reflective of its strengths and expertise.
- A smaller group of competitors. There will be fewer agencies that do what your agency does. You’ll be able to identify a smaller group of competitors that you can use to greater enhance your agency’s point of differentiation.
- A greater winning percentage for new business. Your agency can become the 800 pound gorilla, the agency with the moxie but only by having the right positioning. An agency that specialized in marketing academic medical centers, refuses to do speck creative, wins a greater amount of their pitches and those accounts are profitable from day one!
- Improved profitability. First, you can command premium pricing because your agency is viewed as a specialist not a generalist. Secondly, your agency will know its playing field better than most and is not spending excessive time trying to get up to speed with every new account.
- Greater appeal. Instead of always chasing business, it’s possible to have business start chasing you. When prospective clients know what your agency stands for, they’ll seek you out.
Additional articles that may be of interest to you:
- The New Rules of Engagement for Ad Agency New Business
- Ad Agency New Business is Driven to Distraction
- Clear and Present Danger of Social Media for Ad Agencies
- Socializing Your Ad Agency’s New Business Development
- Is social media making many ad agencies look and act the same?
- Ad agency having explosive new business growth by leading with social media