Leadership Offsite as Engine for Innovation

Most firms annually convene a leadership meeting, strategic planning retreat, or brainstorm session dedicated to crafting an innovative course of business strategy. Rarely do these meetings deliver results.

Time to break out of your shell

What are you waiting for? Real innovation is only found by looking outside.

Instead, they produce a pattern of incremental progress. And this does not translate into competitive advantage. Other factors affecting these meetings include planning, organization and leadership. Because responsibility for this meeting most often falls on the leader, the outcome is predictable.

The reasons for this are simple. Leaders “know” they know more than their team, so they develop a plan and agenda that determines the outcome – and everyone’s frustration. Experience shows most meetings of this type fall into one of two patterns. At the “Rubber Stamp Offsite,” the team nods along as their leader uses his agenda to present his assessment of the “As Is.” He then dictates the action plan and assigns responsibilities. This approach is easily identified by the neatly organized three-ring binder entitled, “Strategic Planning 20XX.” Note – look for an accumulation of dust.

The other meeting type, the “March of the Hopeful, Guilty and Ambivalent,” is the product of an insightful leader who – tired of the “Rubber Stamp Offsite” – assigns every member of the team roles and responsibilities. The outcome – well – you have been at these meetings… There is no outcome. Only a reporting of the past year, justification of the results and explanation of the incremental changes that will be implemented to fix what’s broken. Frustrated, the leaders usually sits down following this session; drafts an action plan and dictates responsibilities – see the results of the “Rubber Stamp Offsite” above.

If you want to break this cycle to create opportunities for innovation at your firm, then change your approach.

Don’t go off the deep end and schedule team building exercises through Outward Bound, or book a provoking motivational speaker. These activities make great copy – but rarely, if ever deliver business-changing insights. A growing number of successful organizations are utilizing professional facilitators to assist in the planning and management of these important meetings.

By assigning responsibility for the business of the meeting to an experienced outside party, the group is better able to focus on the business of the business. The role of the facilitator is part emcee, part mediator, and part referee. But more than that, this person frames the discussion, manages interaction and creates opportunities for discovery.

Because innovation is not achieved in-the-box, a firm is better served living the process, not running the process. And leaders must understand that insight is achieved through their support, not as a result of their management. Utilizing a resource experienced in facilitation and knowledgeable in the industry changes the meeting dynamics. The firm, as a whole, becomes the focus, not the innumerable piece and parts.

If your firm’s strategic planning process is not creating measurable results in growth, quality, productivity, or profitability year-over-year, then you might be a perfect candidate for this approach.

Having just finished a couple of these, one a large marketing consulting firm, the other a national agency, the breakthrough possibilities are enormous given the changing landscape and flux in the market.

Photo by ~JordanRobin

A New Business Quiz

Lost In The Fog

New business can be very confusing to agency leadership. There is a fog about new business that blinds agencies on which way to go.

Agencies must become new business machines. This means agencies need to step up their new business activities substantially. It’s not good news but it’s true news. For most agencies a whole new way of looking at new business is needed. What is your New Business grade?

New Business Quiz

[ ] Know the Difference Between New Business and Advertising. The biggest mistake marketing communication firms make is confusing new business with the skills they need to do good marketing communications. There’s a big difference and the lack of understanding here is the reasons so many firms have trouble with growth.

[ ] Develop A Good Brand. It starts with your name and what you say about yourself. Is it in step with where the market is going? Is it properly positioned so it offers real benefits that are easily differentiated from your competition? And finally, is it compelling to prospects? Nothing hurts a strong new business effort faster than a weak brand.

[ ] Invest in Solid Marketing Materials. Including a solid website that loads fast and isn’t cluttered with moving parts. Back this up with an effective send-me-something brochure that brands the firm properly. Have effective outreach tools on hand to open doors. Develop a list of good prospects and make sure it’s current.

[ ] Build A Strong Outreach Program. This usually means agency staff members focused on outreach full time. We call that winning the first opportunity which means creating a steady stream of invitations for first visits from high-quality prospects. You should target about 80-90 visits per year. With these in hand, you can walk away from RFPs, cattle calls, and agency clusters where competition is strong and your marketing ROI is low.

[ ] Know How to Achieve Great First Visits. A good first visit is where your team avoids presenting capabilities but focuses on building trust so prospects will discuss their business needs openly and honestly. It’s a learned skill set called Torch®. And it successfully moves the prospect toward a closing process.

[ ] Have the Skills to Win with Chemistry. Your likeability, which you can control with prospect profiling, is your biggest asset or your greatest hurdle. Does your team know how to use chemistry as a major competitive advantage? Or do you mistakenly just hope good chemistry happens?

[ ] Know How to Fast-Close. If you have a good first visit, then you are prepared to move for a fast close, either in 48 hours or 7-days. The alternative, often followed by most of the industry who don’t understand the fast close process, is to wait after a first visit because nothing substantial has been set up. This forces clients to move into a formal search where competition is high. And you get to present in competition with many other firms. Why let that happen after you win a good first visit?

[ ] You’re Set Up for a Tour. It’s called walking the talk and it’s built around keeping your firm propped and ready for a first visit by good prospects. Most prospects are being put on notice about the importance of visiting your communication firm before hiring them. Why not get ready for that with everything in place, properly set up to show off your capabilities in a best light?

[ ] You Can Win the Big One. Most any firm can win formal presentations month in and month out. It’s a learned process and it begins by targeting to win one out of three and then moving to win one out of two as your skills build. At this rate, new business presentations aren’t an expense but an investment in your future.

[ ] You Can Win at the End Game. This means you know how to tantalize with contract incentives. And how to keep your key players who “won” the business out of trying to get the contract approved. You should delegate that chore to a financial type who has been hard trained in best negotiation techniques, just like the clients sitting across the table.

Score_____________

Analysis. Rate your self on each of these 10 categories above with a score of 1-10 on each category with 10 being best. Total your scores. Anything lower than 75 points is failing just like in school. But growing your firm isn’t a game you want to flunk. Or even get a D in.

Sanders Consulting Group has over 15 learning programs designed to help train marketing communication firms in all of these new business areas. And we do more new business consulting on specific agency shoot-outs and new business assignments than any other firm around.

 

Photo by *behherit

Merry Christmas!

Christmas is a time to give and receive.

During this year, we have received a lot from you and we want to take time on this so special day to give you the respective thanks for your preference and trust. Merry Christmas and a Happy New Year filled with growth!

Our top hits from this year for helping agencies win more new business:

  1. New Business: Five Warning Signs of a Nightmare Prospect
  2. How Can a Small Agency Compete in New Business?
  3. New Business in Tough Times: 5 Ideas for Growth
  4. New Business: The Winning Pitch
  5. New Business Ideas: 49 Growth Tactics
  6. 7 Ideas On Why Your New Business Program Is Failing
  7. Winning New Business: The Defining Moment
  8. 5 Things I Hate About New Business
  9. Top 10 Mistakes That KILL New Business Presentations
  10. Trick-Or-Treat Lessons for New Business

It’s our hope you find something you can use to better grow your firm!

From all of us to you and your family... may you have a wonderful holiday season!

Happy Holidays!

 

 

Ad Agency? The Times, They Are A-Changin’

World of marketing is changing

Action and reaction, ebb and flow, trial and error, change - this is the world we live in.

Change. It happens every day, every moment, everywhere. Marketing firms, at the intersection of consumers and brands, must learn to embrace change.

Your Client Is Changing: Change How You Manage The Client

Clients today are looking for business-building ideas, speed, and firms that understand how to stay within budget.

Now is the time to think more strategically to determine exactly what your clients want – and deliver it better than anyone else! It’s time to rethink your account service team, move faster than ever, while boosting profits and lowering costs.

But first, you need to change.

The Consumer Is Changing: Change How You Sell To The Consumer

The consumer today is exposed to more messages than ever before from all types of media. Great creative can make a brand standout and generate that all important conversation. Now is the time to rethink the business and generate new ideas targeted to this new consumer – to make your agency more successful. Win awards. Attract new clients. Boost staff morale.

Time for more creativity from all members of your team… and to have a creative process that is faster, better, and more profitable… clients will be more satisfied and loyal.

But first, you need to change.

Marketing Is Changing: Change How You Market

Social media, conversations, listening to the consumer and more are changing the way agencies do business. Clients are demanding more. Consumers are becoming smarter. Now is the time to change how you view marketing – to improve your agency’s social skills and get an unfair advantage over your competition.

It’s a time when technology can bring you inside information, to make your creative more focused and insightful…. speed up your operations, to make you more efficient and cost-effective, to make your agency more profitable and even grow your business.

But first, you need to change…

You Need To Change: Change Your Agency… To Do It Better!

This is a fantastic time to be in advertising, full of incredible opportunity for growth and success – if you’re open to change. To change successfully, you must question everything you do. And discover new ways to do it better! It means asking tough questions, like:

  • What do we do better than anyone else?
  • What is our vision for the future?
  • How can we serve clients better?
  • How will we handle the impact of this digital world?

When you answer these questions, you’ve found your vision. But putting that vision into action can be challenging.

You Need to Change

To turn your vision into action, you’ll need to change the way you work and develop effective solutions to the barriers that stand in your way. You need to build on the unique capabilities of your agency – to take advantage of today’s market and become the agency of the future!

How long has it been since you took a long hard look at your firm? Your brand? Your new business efforts? Maybe you have been operating under the same brand for years without giving it much consideration. Or using the same processes and structure without reviewing all the changes in technology.

The bottom-line is the world is changing, and we all need to change with it.

Photo by ~gffrycole

Agency Growth the Old Fashion Way: Buy It!

Sometimes the secret of growth is hidden right across the street.

Want to grow fast? Do a cross-town merger. This way you add important services you don’t have or bulk up fast and perhaps more inexpensively than you thought. And with a cross-town merger you can bring in experienced personnel to add to your management team. That’s all possible if you grow by acquiring.

Why Cross-town Merger vs. Out-of-town Acquisition? Cross-town mergers are often quicker, easier and more profitable immediately. Back office, administrative, production and more can be streamlined with little problem. This simplifies management issues and produces fewer hassles. In addition, a cross-town merger is usually less expensive and is a good place to start. Few executives know the full extent of the many attractive opportunities within their own city.

So how does one go about a cross-town merger? First you have to decide to seek a merger partner. It’s important not to tell any outsiders about your decision. The search needs to be done in isolation. Second, do a strategy session to look at all the options. What type of firm should we be looking for? Any specialties we are missing? Or what market do you want to get into? Third, organize a proper search to see where the best fit is. Keep your name out of the initial conversation with any prospects. And lastly, use an experienced, outside point of view that will keep the process on track.

Typical Cross-Town Merger Situations We Find:

1. The Cherry

A perfect fit where everything goes right from the beginning and continues on through the deal. If everyone is reasonable, Cherry deals can be found and made. Cross-town mergers make these even sweeter.

2. The Slot

This is another perfect fit where you can slot the acquired operation into your firm without missing a beat. It’s usually in a service area where you have little experience but solid potential. The acquired firm gains from your resources, your new business opportunities, and the organic business you can place from your existing accounts.

3. The Escape

The search phase has located a firm in trouble and the owners want to crash the company, not pay the creditors and move themselves and several key accounts to your operation. You buy nothing. You take on some staff. You pay for what sticks.

4. The Exit

The search phase has located an owner who wants out, will stay for a year or two to work the accounts and help maintain AGI. But the owner is phasing out but willing to stay around to help the transition. And is willing to work hard to make the deal happen.

5. The Key Guy

One firm is not very good at new business, for example. The other firm is bad at operations but great at growth. The buying firm brings the other firm on board mainly to get the key person and the expertise to help them grow. The other guy wants to sell because he or she is having troubling managing the business already on hand and can’t wait to dump the operational side of things so he or she can go chase new business.

How To Get Started:

Not sure a cross-town merger is right for you? We suggest a “Power Hour.” This is a one-hour, no-cost discussion by phone on the best way forward. It’s a chance to check chemistry, analyze costs and investments needed, and discuss possible options and strategies for moving ahead. Contact us a call at info@sandersconsulting.com or just call 800/899.1538 for more information on how to get started and how to set up a Power Hour on mergers and acquisitions.

Photo by ~MaroziDawn

Trick-Or-Treat Lessons for New Business

Follow The Candy Trail

You follow the candy to close the gap between where you are now and where you want to end up.

Ask any child and they will tell you their game plan for the one night they get to go wild, be free, and collect as much booty as they can carry. For a child, this is the ultimate life lesson in setting goals, planning, and follow-through. While many kids just hit the road and run about willy-nilly, stumbling around in the dark looking for that rare house with something good, our winner returns with a pillowcase filled to overflowing with premium candy.

What lessons can we take from those little demons who understand the rules of trick-or-treating better than the others? You just have to master the rules first.

5 Rules of Strategic Trick-Or-Treating:

Rule 1. Get Motivated!

All the successful kids are motivated to find and collect as much candy as possible. What’s your motivation for growth? For more new business? Is it to find a way to get rid of that one awful client? Or is it to find more revenue to hire additional staff? Find and identify that single motivating factor to get you energized. Too many agency leaders act like those kids who are just out having fun, drifting along with the crowd, not looking for ways to increase their candy haul. They sit back and relax, just happy to have found that one home with a great morsel of candy and missing the great opportunity one neighborhood away.

Rule 2. Avoid the Mob!

Many kids will form huge mobs in the mistaken belief that, by overwhelming the homeowner, they can score the big one. Plus, there’s safety in numbers. Resist that temptation. The mob triggers the defensive instinct in the person handing out candy. You don’t want that. Most agencies don’t have a tangible product to sell so they focus on highlighting their “creative” capabilities – of course, this ends up looking the same as everyone else. You’ve blended into the mob trying to snag any morsel handed out. Reject this thinking! Clearly define your role with prospects regarding exactly what you bring to the “front door”. A strategic partner that brings in business building ideas? A savvy marketing expert that grows brands? Or someone who knows how to get things done, regardless of the task. As the market continues to fragment, agencies have to work harder to stand out!

Rule 3. Trick-or-Treat Where the Candy is!

Too often, many kids think if they head to the rich neighborhood for the big score they’ll end up enjoying a huge haul: bags full of premium candy. But that’s a lie! The large yards will slow you down, the candy is often discount bands, and the competition is huge. It’s often better to head out for the new neighborhood where speed, persistence and dedication will win the day. In new business, this means always be on the lookout for a prospect who needs strategic help (weak brand, selecting target markets, crafting the message, how to position, etc.). Look for opportunities to get your foot in the door with tactical help (how to select the right communication vehicle, how to allocate budgets, overcome objections, etc.). By zigging while everyone else is zagging with your capabilities you’ll be in position to take advantage of opportunities others miss.

Rule 4. Speed Wins!

There is only a small window of time for optimum trick-or-treating. It’s a race against the clock, so set yourself up for success by maximizing your ability to move fast. No elaborate costumes, nothing that limits your visibility, and wear running shoes! Speed is everything. It’s also the secret ingredient to winning new business. Most agencies focus all their energy on winning in formal presentations, RFPs, cattle calls, and capabilities presentations – all slow and reactive! Change all that. Decide now to adjust your new business strategy by trying to win before it ends up being a formal review. Put an equal amount of attention into preparing the agency to win accounts with solid, fast-close techniques, months before a formal presentation is called. Speed, simplicity and self-confidence are closely intertwined.

Rule 5. Have Discipline!

Don’t be one of those kids who eat as much as possible, as fast as possible, as soon as you’re home. These are the kids who burst in the door, dump their haul out of their bags, and eat until they almost get sick. One of the keys to success in new business is planning for the long haul. Most agencies spend all their time and energy pitching to prospects already deep into a review. Rather than trying to win every pitch late in the game – eating all your candy now – smart agencies build a long term plan. They spend just as much time and energy on establishing lasting relationships with prospects. They work hard to nurture their bag of goodies (prospects) and know that they will have an opportunity to enjoy something sweet down the road. Most of the other kids have a tendency to give up too early and fall back into that bad habit of eating everything now.

Kids who plan their night of trick-or-treating have a huge competitive advantage. They are uncluttered with the baggage of tradition and keep things simple. They thrive on passion to get the best and move fast. They focus on being at the top of their game Halloween night. They dream big dreams and set the bar high…

And so do the most successful marketing firms when it comes to new business.

 

Photo by ~Neo-Br