Using Good-To-Great to Brand Your Agency

“We’re a locally-owned, full-service, fully-integrated, media-neutral, discipline -agnostic advertising agency, and our creative is world-class.”

For those of you who have worked with us in the past you know we like to hammer the idea that you need a strong agency brand to compete in today’s market.

A Clear Agency Brand Provides Focus for New Business

It answers how to describe your firm and tells you what services to offer. If you know what you stand for you can match up your prospects and target them. Perhaps more importantly a strong brand can help answer which prospects to pass on.
Many marketing firms are afraid to stand for anything. Mostly out of fear of losing a potential prospect. However if you are clear in what you stand for it shows your view of what’s important. This lets a prospect know quickly whether or not you are in step with their view of the way things work – you stand out to THAT prospect. The one you are really looking for. Other agencies, who try to stand for anything and everything, really project “gray” don’t match up well with a firm clearly branded.
The runaway bestseller Good To Great/Why Some Companies Make the Leap… and Others Don’t provides insight into how to brand your firm.

The Characteristics That Cause the Jump From Good to Great

1. Level 5 Leadership

  • Think Lincoln, not Patton
  • Quiet, reflective, curious, compassionate, tough management style (Headline Logo)

2. Right People on the Bus

  • People are not your agency’s most important asset. The right people are the most important asset in the agency
  • Job #1: get the right people

3. Confront the Brutal Facts About Your Business/Industry

  • Advertising is now viewed as a commodity
  • Too many agencies still around, even after the biggest shakeout in history
  • Most agencies now treated as vendors
  • Clients see few differences in agencies
  • Client confidence in advertising is declining
  • Clients view marketing as tactical and that means advertising is viewed as very tactical
  • Marketing communications often delegated down to lower-level staffers
  • Strategic high ground is now owned by consultants who have the ear of the corporate CEO
  • Consulting is a bigger business than all marketing communications
  • Consulting is growing much faster than marketing communications
  • These trends wouldn’t change or improve for our industry in foreseeable future

4. Adopt a Culture of Discipline

  • Manage to standards
  • Drive out complexity with better management
  • Understand that discipline brings efficiency
  • Know that agency structure has biggest impact on agency efficiency
  • Focus on productivity and seek a 25% improvement in productivity which doubles margins

5. Use Carefully Selected Technology to Accelerate Performance

6. Adopt the Fly Wheel as Your Model for Growth

  • Series of small steps gets the fly wheel turning
  • Use each win to increase performance
  • Increased performance speeds up wins

Stand Out!

A strong brand stands out, and in this complex hypermarket we operate in that’s vital for survival.

Using Good To Great to Brand Your Marketing Firm

  • Determine what are your Good To Great circles
  • Find your Sweet Spot.
  • Shape that into a Hedgehog Concept that’ll work in your market
  • Dream big and express your Hedgehog Concept in a BHAG
  • Find your best growth opportunities and stick to those only
  • Build your brand so you maximize those opportunities
  • Set up your new business program to support the brand
  • Integrate your brand into everything you do and live the brand
  • Get set to move from good to great
  • Take the credit. You did it.
We’ve helped many marketing firms with their brand by understanding our industry, the market, and having experience with thousands of similar firms. Mostly we know what works, and what doesn’t. Often times a one-day session with us provides you with the creative fodder to remove any logjams in deciding which way to go. Free of the “unknown” most marketing firms are then successful in launching a new brand.
If you are thinking about your agency brand, give us a call – it could save you from making a costly mistake.

Not Getting New Business Calls? Focus!

Stop waiting!

Be proactive! The alternative is to sit and wait passively by the phone. And wait. And wait…

Recently I was working with a great agency, around 15 people and some outstanding work. They were well known in their market, but had been defined in that market as a “certain type” of marketing firm. While there were many pitch opportunities in the area it seemed they were almost never called.

Why?

Over the past few years by not defining their brand they had allowed the market to brand them. And as their capabilities had grown, improved, they failed to communicate that with prospects. Even worst, the market perception was out-of-date and just plain wrong.

So here are 5 easy steps to help your brand stand out in the market:

1. Agency Focus: In this cluttered market place only an expert has any chance of standing out. Business leaders don’t have time to educate someone on their unique situation. An expert understands their product, their service, and knows how it can benefit customers. OR an expert knows their customer better then anyone. OR an expert has a unique view of the marketing landscape. Find something to be your area of expertise. Just being a “full service highly creative marketing firm that offers outstanding service” isn’t enough any more!

2. Make New Friends: We all now that people do business with people whom they like and trust. Choose to make a new friend over just creating a new business transaction. This will pay off in the long run.

3. Effectively Communicate: Establish yourself with your target market by creating a dialog on things that you have in common. You must be able to establish a relationship. With lots of people.

4. Find Opportunities To Speak: Become a speaker to your target market, and educate people on both the changes hitting their market as well as the challenges they face. Provide Solutions.

5. Use a Spark: Hire an Account Executive who is responsible for building agency awareness and creating large numbers of relationships with key prospects. This is the fastest way to build agency your agency brand with prospects. And that means more calls asking you to swing by for a visit. More new business.

There you go… 5 easy-to-forget strategies that can help you establish and maintain your brand in the mind of your ideal prospect. And just think, once they’ve heard of you, perhaps know you, and think you have some smart solutions then they will call you.

Next Steps

Agency leadership needs to build a long-term vision for success and gain commitment from staff to that vision. Any planning needs to ensure that agency teamwork, which is essential to making the vision successful, comes forth. Sanders Consulting Group, the recognized experts in agency growth, has proven techniques and strategies to transform your agency. Give us a call and let us show you how.

Photo by ~xEmDeex

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

 

Half Your Clients May Walk This Year

Planning for New Business

When it comes to new business, plans are often worthless. But new business planning is invaluable

Client retention at agencies across the country is dropping like a stone. A few years ago agencies could count on keeping clients for four years or more. Now this retention rate is moving towards two years. This means half your clients are at risk of leaving in any one year.

Agencies must become new business machines. This means agencies need to step up their new business activities substantially and treat new business similar to other parts of the marketing communication industry that work on a project basis and deal in episodic relationships.

It’s not good news but it’s true news. For most agencies a whole new way of looking at new business is needed.

One Bad Year Can Put You Out of Business

In the past, agencies found it easy to recover from a bad year in new business. In the grim realities of this economic environment, with clients changing agencies faster and faster, a bad year in new business could put your agency out of business.

Add in the effects of the slowdown in client spending, and the situation becomes worse. For many firms, this changing situation means new business efforts must be doubled just to stay even.

The Changing Face of New Business Math

Client satisfaction has dropped significantly over the past ten years. And some experts are expecting clients will keep changing agencies at an all time rate in the coming years. Most clients are tired of having to fight with their marketing partners. As a result they’re hiring new marketing managers and looking for new ideas. As a result the new business wars are going to heat up more as the economy slowly recovers.

The Solution

Look around. Ask questions. Call your peers, your friends and family, business owners and leaders in growth. And most importantly find some experts in new business. The best thing to do now is understand how the game is changing. Many of the old tactics no longer work. Some very old tactics are working better then ever. And there is a whole slew of new tactics that may or may not be effective for your firm. Find out how other firms your size and condition handle new business and what results your can expect.

Then assemble your management team for a one-day new business mapping session. Refer to it as an 180 meeting because the purpose is to change the directions of your agency’s growth pattern. Usually in a direction 180 different from where it has been. If you can have an outside mediator that comes with a 80 page training manual designed to review 12 key new business skills and probe your firm for any weakness.

Work with your team to make decisions on which direction to go, determine the priority for a wide variety of growth tasks, choose who will be responsible, and allocate the resources needed to change your agency’s new business trajectory.

Fix New Business Forever

Map out the best new business strategy for your firm – we call the session DayOne. You’ll call it a miracle because you won’t believe the breadth and depth of the planning accomplished in so short a time.

The DayOne session is tailored to your needs and your situation. There’s no wasted time. Your team will appreciate how smoothly the day moves. And how critical issues are probed and resolved. Many sacred but out-of-date-paradigms are put to rest.

Even if you choose not to hire someone it’s your job to ensure the new business planning session is the most important day in your agency’s future.

The day you decide to fix new business forever.

Photo by *Garacci

A New Business Fable

Once upon a time, there was a nice advertising agency in an important city far, far away…

The agency had four key partners named Everybody, Somebody, Anybody, and Nobody. The agency’s creative work was outstanding but the agency wasn’t growing.

It seemed when it came to new business, Everybody was sure Somebody was looking after it. Anybody could have done it easily but Nobody touched it.

Somebody got angry about the lack of new business growth because he thought Everybody was in charge of it. Everybody thought Anybody was looking after it. And Nobody did nothing.

The situation lasted for several years and the agency stopped growing. Some key people left for better opportunities at agencies that were growing rapidly. Then the agency’s best accounts left because of company buyouts and changes in client management.

The agency spiraled downward because there were no new clients to replace the ones who left. In desperation, the partners sold their firm to a large agency holding company who had to rebuild the entire operation. The partners’ buyout turned to peanuts.

To this day, Everybody blamed Somebody for the lack of new business success when Nobody did what Anybody could easily have done. And that was to fix new business forever.

You Want to Be a New Business Champion?

Then grow your agency. That makes you a new business champion.

New Business Champion

If you have the ambition to be a New Business Champion then you’re at the right place.

Not sure how to get started? Then you’re at the right place… for over 25 years we’ve been perfecting the art and science of growing your agency.

And if you want to be a champion then start with prioritizing your new business needs. Learn the vital skills. Get consensus. Build a plan. Launch!
We’ve already listed some of the top new business challenges… now let’s list some of the top “needs” we hear from agencies.

Top Marketing New Business Needs:

1. Need more leads?
  • Build more awareness and relationships
2. Need to best use branding?
  • Better brand the agency
  • Win accounts with branding
  • Win revenue with brand consulting
  • Bring in a strategic development/branding process
3. Need to be better at closing?
  • Stronger first visits to set up prospects
  • Know how to use the 48-hour close or 7-day close
  • Understand how and when to pitch
4. Need to understand Chemistry?
  • Improve new business success
  • Strengthen client relationships
  • Improve internal communications
  • Develop internal language to manage clients better
5. Need to get started but not sure how?
  • Get a plan!
  • Get consensus on new business priorities
  • Get support for a new business plan

Your objective remains: Be a new business champion!

We can help a couple of ways… first hold a DayOne: New Business Mapping session at your firm.

Objectives:

  • Grow the agency by winning new accounts
  • Get the agency in good position to handle any economic changes
  • Map out the new business process for the agency
  • Build management consensus behind the plan
  • Give agency staff confidence that the agency will grow
  • Assign roles and responsibilities for new business effort
  • End the agency’s confusion and uproar over new business
  • Fix new business forever

Strategy:

  • One day new business mapping session on-site at agency

Content:

  • Briefing by top management over breakfast
  • One-on-one interviews with senior management
  • New business evaluation session with senior management
  • Agency’s unique situation reviewed
  • Agency brand is reviewed
  • Agency new business performance SWOT completed
  • Review of performance against 12 key new business skill sets
  • New business options and alternatives outlined and discussed
  • Timeline set
  • Roles and responsibilities assigned
  • Expected new business payout analyzed
  • Action steps set
  • Next step decided upon
The second option is join our LinkedIn group – the New Business Institute!
New business in now more intense and the rules have changed. Overall new business activity is much higher but accounts and projects are smaller. Competition is tougher and different with firms of all sizes and shape competing for the same accounts. Budgets don’t seem to matter because big firms are chasing little accounts they ignored several years back. That’s the landscape. Join the New Business Institute and see what should you be doing about it.

About Us:

Sanders Consulting GroupSanders Consulting Group teaches more marketing communication companies around the world more about new business than any other firm. The world’s largest and best managed agencies and networks use Sanders Consulting Group as a trusted new business resource. Sanders Consulting Group offers the best advice, insight and training on how to grow your firm – from branding your firm to understanding outreach to winning the pitch.
Photo by ~birdswithoutwings

New Business Ideas: 49 Growth Tactics

An important review of many often-forgotten new business basics plus some other reminders that every business owner and new business pro needs to know. Use this list of our Top 40+ to spark some of your own ideas about things you need to do to get more new business now.

Low Hanging Fruit

Low hanging fruit - gets you most value for the least investment. Why stretch to reach way up there when there's one right here within arm's reach?

Grab the Low Hanging Fruit

NOTE: If you have any more please let me know and I’ll add them to the list!
1. Move into public relations
  • When the economy slows down and media spending falters.
  • Money spent by clients is usually all fee.
  • If you’re not into this, move that way now.
  • Expand that part of your operation.
  • Stress with all your clients. It’s a real money maker.
2. Dress the part
  • When business gets bad, this helps.
  • You’ll do better
  • When clients see you, they have more confidence in you.
  • Always dress one notch better than your prospects and clients.
3. Stimulate business signage
  • Walk in business can often be strong and highly profitable.
  • Many agencies in high traffic locations have reported surprising results by listing what they do: advertising, branding, digital, public relations.
  • Key what you want and refer the rest.
  • Walk in business is usually fee business which is good.
4. Get a strong/narrow focused point of view
  • Be clear about what you do.
  • Too many agencies hide the fact that they’re an agency.
  • Use a strong energy line as part of your corporate identity package.
5. Stress your benefits
  • You help businesses grow.
  • You move markets.
  • You generate results.
  • You return a lot for a little.
6. Get a new business lead going contest
  • Talk up new business with your staff.
  • Get them hunting for leads.
  • Ask everyone for three leads per month.
  • Everyone who does, goes to lunch with the boss.
7. Use your best new business assets better—your senior staff
  • Not always great at new business, but good to start building relationships
  • What you need are relationships and your senior staff are in the best position to get relationships started.
  • Senior staff are the ones who prospects want to see.
  • Get them “sharking” for you on major pieces of business whales
  • Get them a limited number of prospects to reach out to maybe 5.
  • You land one; the staff member gets a great reward.
8. Work one industry hard.
  • Agencies have conflicts. Consultants have areas of expertise.
  • Develop an area of expertise for your agency and work that vein hard.
  • Prospects respond well to category experts.
  • And industry experts can work ocean to ocean.
9. Work close to home
  • Most agencies drive by good accounts all day long.
  • Go “smoke stacking” for leads.
  • Look for successful businesses close at hand.
  • Remember the story of the prospector who was surrounded by acres of diamonds. But he stopped a foot too short.
10. Work your Direct Flight markets
  • Used flight schedules to target key cities
  • Follow one-flight rule
  • Helps speed up servicing distant accounts
  • A better story for prospects
11. Work your clubs and organizations
  • Relations are easy to make
  • Use as referral base
  • Don’t have to lead, just participate
  • Good source of leads