Unconventional times call for unconventional methods for ad agency new business.
These are certainly unconventional times that we live in. A recent IBM study states that we will see more change in the next 5 years than in the previous fifty.
We are still in the midst of the greatest economic downturn since the Great Depression. The recession that began in 2008 still isn’t over and economists are forewarning the possibility that this could be a double-dip recession.
The rise of social media as another communication’s channel, has impacted our society and the way we do business. Social media marketing best practices are quickly evolving. But as soon as you start to get comfortable using Twitter, Facebook and LinkedIn, a new social media platform is introduced, such as Google Plus, and it’s back to school all over again.
Smart phones and tablets further impact our culture and how we communicate.
New business professionals for ad agencies and PR firms, who were once good at what they did are now struggling. The way new business is acquired is changing rapidly. The interruption type tactics, which were successful in the past, are becoming less and less effective.
With all of the upheaval and uncertainty for our industry, this is certainly an exciting, revolutionary time to be in advertising. Particularly for the small-to-midsize advertising or public relations agency.
8 reasons why this is such an exciting time to be in advertising, particularly for the smaller agencies:
- They have the opportunity to build awareness well beyond their local markets.
- A real opportunity exists to work with bigger clients and nationally known brands.
- Agencies can generate more appeal by creating a narrower niche. They can hyper-focus on a specific target audience, category or discipline or a combination of these.
- Increased revenue by being better positioned for their advertising and marketing expertise through category or target audience experience or through a particular discipline.
- Network and referral business becomes more efficient.
- Inbound lead generation is proving to be less expensive than traditional outbound leads.
- Allows agencies to work with the clients that match up well with its core strengths.
- More new client accounts can be won without pitching.
Additional articles that may be of interest:
- Nobody Reads Ad Agency Blogs
- A Lack of Positioning Makes Ad Agency New Business Harder
- 25 Ways to Be Found for Ad Agency New Business
- A 70 Point Checklist for Jump-Starting or Tuning-Up Your Blog for New Business
- Content Marketing: Hire a Journalist for Ad Agency New Business
photo credit: JD Hancock via photo pin cc
Hi Michael – great blog. I just re-blogged it with links to your site. You can check it out at http://www.activeintegrated.com/2011/10/06/exciting-times-for-boutique-ad-agencies/
Love your stuff!
Thank you Angela. Very kind of you.
Great article, very interesting and totally agree – such an exciting time for us smaller agencies 🙂
Wow, This is the very nice article. You provide a very nice information. You are right, I agree with you, Increased revenue by being better positioned for their advertising and marketing expertise through category or target audience experience or through a particular discipline.
Thank you Barbara.
Thanks Dave.
Thanks for sharing this insight, Michael. As a smaller digital agency north of Boston, we’ve experienced a couple of the points you mention. Having the ability to share work and projects online makes it much easier to get your foot in the door.
You are welcome Brian. I wish you continued success!