Fueling Ad Agency New Business Through Social Media
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.… Continue reading
A total of 430 advertising agency executives participated in the 2010 Advertising Agency New Business Survey.
The survey was sent by e-mail to a database of over 10,093 U.S. full service advertising agencies ranging in staff size from 5 to 350 full-time employees. The survey closed end of day, December 31, 2010.… Continue reading
A soon to be released survey of advertising agencies conducted by Fuel Lines, reveals that 50% of the 430 responding agencies generated new business from two primary sources last year: referrals and networking.
Agencies have long understood the importance of social networks and individual connections to generate new business. It has always been the lifeblood of small to midsize agencies.… Continue reading
The best “tell-tale” sign that an agency is doing well is when they are having to fill staff positions due to new business. Bob Hoffman, CEO of Hoffman/Lewis Advertising in San Francisco sent me a heads-up on a new post he had written for his blog, The Ad Contrarian.
Instead of using a “head-hunter” Hoffman/Lewis Advertising is using Bob’s social media network to fill the following 12 positions:
Forrester’s recent projections of interactive marketing spend through 2014 show social media increasing at an average of 34% year over year.
A national survey provides insight into what marketers want from their agencies. The Agency of the Future Survey, sponsored by Sapient. Though this survey was conducted just over a year ago, it is a perceptual look back as well as a look forward and still has relevance for agencies today.… Continue reading
A McGraw-Hill Research study from 1980 to 1985 found that those businesses which chose to maintain or raise their level of advertising expenditures during the 1981 and 1982 recession had significantly higher sales after the economy recovered. Specifically, companies that advertised aggressively during the recession had sales 256% higher than those that did not continue to advertise.… Continue reading
BusinessWeek‘s online Business Exchange now has posted a synopsis and links to over 192 news articles and 202 blog items on the subject of “Advertising In A Recession.” This topic is part of Business Exchange idea, suggested by Jessica Sibley. I’ve added an additional six “advertising in a recession” articles of my own for a total of 400.
One of my favorite agency blogs, The Ad Contrarian, has the most read article out of them all entitled Good Strategy For Bad Times, written by guest blogger Sharon Krinsky.
Here are the top 10 “Advertising in a Recession” articles:
2008 will be remembered as the year that we saw the most severe economic down turn since the great depression. It was also the year that social media became mainstream and swept in the most revolutionary period to impact the ad industry since television.
Ad agencies already had a commonality of problems in acquiring new business prior that made them even more vunerable to the perfect storm:
Small to mid-size ad agencies that will weather this storm will be the ones that:
Read more about me
An essential component to your agency's new business program is a prospective client data base.
In my opinion one of the most accurate online database of marketing and advertising decision makers is The List. I highly recommend them.
I'm Michael Gass, I'm an author, speaker and a new business consultant to advertising, digital, media and PR agencies.
My social media 'home-base' is Fuel Lines, which in 3 years time grew into an influential business development blog and has been ranked among the top 100 marketing blogs in the world, according to Advertising Age’s, The Power 150.
Learn more about me
