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Marketers: Take Digital Out of Your Vocabulary

“Going digital” isn’t a passing trend. Companies are learning — and proving — that building a flexible, integrated agency with a digital emphasis is essential. And that lesson is still being learned the hard way, even at the world’s most prestigious organizations. BuzzFeed leaked an internal report from The New York Times this week, providing an intimate look into how one of the world’s leading journalistic institutions is struggling with the exact same problem most agencies are: integrating digital into its existing company structure. So, what can this teach the rest of the world? It shows that combining traditional and online media isn’t easy for any company, and even the most prestigious of organizations make common mistakes, including treating it as something that’s separate — and often secondary — from the rest of operations. Digital Dividing Lines Although many companies have employees who specifically focus on online media, all employees need to think about it. Whether they’re focused on strategy, creative, or media, they need to know the landscape inside and out. Why? Because digital isn’t a department; it’s a way of thinking. When digital was new, it was used as a buzzword to set innovative agencies apart from those that weren’t savvy. That’s not true anymore. Today, it’s a given. When you tell a client your marketing firm does digital, it’s like telling them that newspapers have writers on staff. Duh. Most clients now realize that a mix of channels and strategies — including digital — is the most effective way to communicate with customers. They know that most potential customers don’t just wander into a store to shop. Instead, consumers start their search online. Digital helps your clients snag customers earlier in the sales cycle. But there’s [...]

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A Solution To The Agency Talent Dilemma

In a recent article in The Wall Street Journal, 4As President and CEO Nancy Hill commented on the talent crisis in the agency world that Unilever’s Keith Weed mentioned at Cannes Lions. Hill argued that top talent can’t afford to work for advertising agencies — where entry-level salaries are often less than their student debt load — and that client demands have created an economic environment that makes it impossible for agencies to compete with companies like Google and Microsoft for the most creative young professionals. The agency talent problem won’t be solved by throwing money at new hires — nor is it reasonable to expect clients to pay high-level fees for entry-level work. Yes, clients hold agencies hostage with cumbersome payment processes and the disintegration of the agency-of-record model, but as long as your agency is paying industry standard or better, you should be able to find good people who want to work in an agency. There isn’t a lack of talent, merely a lack of time. People seek agency jobs for many reasons, and salary is only part of it. They like flexing their creative muscles, solving business challenges, working on a variety of accounts and projects, and collaborating with smart, creative individuals.  These are the people you want to employ. The real problem isn’t that talent can’t afford to work for an agency. The problem is that most agencies look for an employee three months after they need one. The people hungry to work in agencies are out there, but you need to give yourself time to find them. When your agency signs a big client and you’re pressed to lighten the load, you often rush into hiring someone who may not be [...]

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How to Intentionally Build Your Company Culture (Rather Than Leave It to Chance)

Culture is like a hairstyle: Everyone has one, even if they’re bald. You can either pursue a style that accurately reflects your personality, or you can pretend it doesn’t matter and end up looking like Edward Scissorhands. If you haven’t been actively focused on your company culture, it can be hard to see clearly. It’s the same reason you don’t understand the quirks of your family when you’re a kid, but as an adult, you can look back on them with clarity. Whether you see it or not, company culture is a big deal for several reasons. 1. Employee satisfaction. An overwhelming number of statistics reveal the negative consequences of low employee engagement. Dissatisfied workers lead to greater absenteeism, lower productivity and higher turnover rates. If your employees are dissatisfied or bored at work, you have a serious problem. 2. Financial performance. Your culture is apparent to outsiders you interact with (vendors, customers, business partners, etc.), and no one wants to work with a negative company. It’s hard to communicate a positive identity when negative things are happening in your organization. For example, GitHub’s alpha-male culture apparently forced a female employee to quit. The PR and financial nightmare that ensued showed outsiders that it’s a bad place to work. A positive culture attracts outsiders while creating excited employees who advocate for the company. Culture increases productivity and boosts your image to improve financial performance. 3. Personal benefits. One of the privileges of running a business is influencing how it’s run. You don’t get to separate yourself from the culture you create: You suffer or enjoy whatever environment develops. Additionally, your personal values and character are reflected by your business, so make that image accurate. Taking charge [...]

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How CMOs Should Combat The Disintegration Of The Agency-of-Record Model

Like the Don Draper three-martini lunch, the agency-of-record model is becoming a thing of the past. Big brands like General Motors and PepsiCo are building agency teams rather than trusting one agency to handle all their creative needs. Back when marketing consisted of print, broadcast and PR, a generalist agency could easily handle all of a brand’s needs. But now that the marketing world has expanded to areas like mobile, digital, experiential marketing and social media, many of the larger brands believe it’s hard for one agency to be excellent at all those things. For agencies that want to work for the bigger brands, “specialize or die” has become the name of the game, and as brands seek best-in-breed specialists to take on smaller chunks of their marketing, the agency of record is morphing into the team of record. If your brand has decided to play the field instead of settling down with one agency, you need to be aware of the potential pitfalls and how to get your agency army to collaborate effectively. New Model, New Problems A multi-agency approach to marketing is still relatively new, which means brands and their agencies are encountering a host of new challenges. While most brands are still experimenting with the freedom to purchase agency services à la carte, they’re often losing sight of who’s minding the store. That’s the biggest problem with employing multiple agency partners: No AOR means no one is overseeing the overarching brand strategy. This can lead to: Disjointed projects that fail to create a cohesive brand image. Partners duplicating one another’s work, wasting resources. Agencies undermining other agency partners in an effort to capture more client work. CMOs functioning as project managers rather [...]

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Risking Business: Agencies That Are ‘Pushy’

Since the clock struck midnight on Jan. 1, I’ve seen a lot of articles trying to predict the future of agencies. And I’ve uncovered a common theme: Agencies need to be better this year. They need to be faster, smarter, more digitally minded, and more client-focused. But like any New Year’s goals, it isn’t just about adding better practices; it’s about ending the bad ones, too. Unfortunately for most agencies, they’ve become desensitized to their biggest vice: pushiness. As an agency, you may think you’re just accommodating, but research showsthat clients find aggressive sales tactics to be downright pushy. What’s more, pushiness is the No. 1 thing that drives a marketing decision maker to hire, fire, recommend, or ignore an agency.  What do I mean by “pushy?” Of course, you can’t change your aggressive actions if you don’t know what they are. The same study found that people view everything from overt bragging to a lack of communication as pushy. They also define pushy agency behavior as always trying to sell something, making decisions without final approval, making empty promises, and pushing your own agenda. While these actions may help you close deals faster, they’re hurting you more than you realize, and they can actually cause major problems in the long run. Here are some consequences of assertive sales tactics: They erode trust. Brash behavior often gives off the impression that you don’t have your clients’ best interests at heart. They reduce client retention. When you turn clients off with your pushy attitude, it makes it easier for another agency to sneak its way in. They damage your reputation. The industry is relatively small, and if your client complains about your pushy tactics to friends, it [...]

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How to Nurture Relationships & Build Your Network with David Fisher

  “I hate networking.” I can almost hear the collective moan from agency owners when the subject of networking comes up. Most of us think it’s either a waste of time or it makes us feel uncomfortable, like used car salesman uncomfortable.   But in today’s world, networking is a necessity. And not just any networking, it’s a new landscape of the hyper-connected selling where social media networking and old school sales and communication skills are the keys to building personal influence and creating human connections. My podcast guest is David JP Fisher or D-Fish to those who know and love him. He is a coach, speaker, author, and president of Rock Star Consulting where they love networking and all of the power, benefits and new business it can bring your way. His two most recent books, Networking in the 21st Century: Why Your Network Sucks and What to Do About It and Hyper Connected Selling: Winning More Business Through Personal Influence and Human Connection, are all about the power of networking. Join D-Fish and I as we ramp up your new business, one personal interaction at a time with: Why you can’t rely on referrals for new business Networking: why it’s relational -- not transactional How to build your network so it's stronger and serves your business better Why size matters in your network -- and why not every connection has to be a strong one Leveraging the social capital you create and making the ask at a time where you don’t come off as desperate How to build and nurture relationships Why young professionals really need to work on building their network The power of the one-on-one and taking the opportunity to build [...]

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Awards Are More Than Fancy Paperweights — They’re Good for Your Agency

Everyone eagerly awaits Hollywood’s most glamorous red carpet moments. They want to see who the lucky dates are, who gets too tipsy, and who takes home a gold statue. But why should Hollywood have all the fun? Creative agencies deserve recognition too. Events such as the CLIO Awards, the Cannes Lions and The One Show are opportunities for creative agencies to receive recognition for themselves and their clients and take home the awards—not to mention a chance to glam it up and have a party. Yet agency leaders are often reluctant to enter these competitions. They mistakenly view the process as a distraction at best, and a waste of time and resources at worst. Creatives are usually the ones driving award initiatives, trying to convince their bosses that submitting their work isn’t just about their own ego. The truth is that awards are more than fancy, feel-good paperweights; they’re actually good for the bottom line. Here’s why: Awards establish benchmarks. Award-winning ads are 11 times more effective than other ads. Using awards’ standards for projects can raise the bar within your agency and increase overall work quality. By distinguishing the best talent, awards also help establish benchmarks that inspire and shape the industry. Winning differentiates your agency. According to the 2014 AMI research report, more than a third of companies are looking for an agency to gain specialized expertise. Peer recognition helps distinguish your agency from the herd. The key is to apply for awards that mean something to your market. For example, Ford and Coca-Cola will likely be interested in how many CLIO or Cannes Lions awards you’ve racked up over the years. Added credibility can help you win new business. Current clients may not care [...]

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Why Now Is the Time to Start Planning Your Exit Strategy

Thinking about the end is never fun. Neither is planning for it. So it makes sense that business leaders would avoid planning for the day they sell their company or step down from their role. Without a clear exit strategy, however, you could be putting your company, your employees, and your own future in jeopardy. Don’t wait until it's too late T every aspect of succession planning takes more time than you might realize. If you don’t start this process early enough, you could spend years running your business in a way that sabotages your own end goals, depletes your resources, or cripples your negotiating power. Companies that lack a well-designed succession plan can also be left weak and vulnerable during the transition period, making them easy targets for competitors. Preliminary planning is incredibly complex and should begin at least 10 years before you plan to close or leave the company. Here are four crucial actions you need to take when planning your exit: Create a financial plan in advance. When the time comes to explore retirement options, you don’t want to be forced into a bad business deal due to poor planning. Meet with a financial planner at least 10 years ahead of time so you can figure out how to run the business in a way that will make it profitable and appealing to potential buyers or leaders. Determine your company’s valuation. Most business owners don’t know their companies’ true value. In fact, many tend to overestimate the value, which can create problems when it’s time to sell. Work with a business valuation expert or firm to understand your business’s worth. Have your expert do a benchmark valuation 15 years before you’d like to retire [...]

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Agencies: Stop Thinking Like a Vendor and Act Like a Partner

In the formerly monogamous advertising world, polygamy now reigns. The modern version of the client-agency relationship leaves many agencies longing for the "Mad Men" era of sole partnerships, 9-to-5 schedules and heavy drinking by 3 p.m. -- but those days are long over. Today, firms seeking integrated solutions will often hire several agencies at once, each acting as more of a vendor that delivers a specialized service rather than as a partner that fulfills all the company's marketing needs. Companies do still seek partnerships with agencies, however. Unilever's been working with Lowe & Partners since 1899. And GM has a long-standing relationship with Campbell-Ewald that dates back to 1919. Other household companies -- Procter & Gamble, General Electric, Kraft Foods and General Mills -- also boast established, lasting agency affairs. Does that mean these companies won't step out on their partners from time to time? Not on your life. And when that happens, agencies find their egos bruised by this transgression. To renew the partnership dynamic, they must start behaving more like holistic consultants and remember that customers choose vendors but consultants accept clients. To position your agency as an actual partner, stop thinking like a vendor. Focus on these six strategic measures to change how a client views you and your team's capabilities: 1. Know the client's business. Partners know more than one side of a client's business. Instead of focusing only on the marketing end, approach the business as if you're running it. Get to know the distribution challenges. Look for ways to improve the sales system. Even simply walking the production floor asking questions demonstrates your interest. Getting your hands dirty alongside the client and sharing your thoughts on the business as [...]

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How to Utilize A/B Testing and Conversion Optimization to Drive Sales and Leads with Justin Christianson

“It doesn't really matter what you're selling because, at the end of the day, we're dealing with people.” But people can be tricky – why do they do what they do? Most of us have figured out that we do things for one of two reasons, to avoid pain or to gain pleasure and our customers are no different. So how can you use that information to drive leads and sales? According to my podcast guest Justin Christianson, it’s by utilizing split (A/B) testing and conversion optimization. Justin’s vast knowledge of split (A/B) testing and conversion optimization borders on the fanatical. So fanatical, he wrote a book about it, “Conversion Fanatic: How to double your customers, sales and profits with A/B testing”. Join Justin and I and see how split (A/B) testing and conversion optimization can get people to take the desired action that you want them to take by learning: How Conversion Fanatics was born Why you have to track and learn why people do what they do The basics of conversions Big mistakes people make when attempting to get people to convert How to start testing for conversions How to get your clients to actually do case studies Some of the most surprising things Justin has learned from conversion testing What makes an employee good for conversion work Why split (A/B) testing and conversion optimization are two very different things Why you must approach working with other agencies for a client with no ego VR and video: why these two technologies are only going to grow in the future How Justin stays on the cutting edge How to pick the clients that are right for your agency Justin Christianson is a 15-year digital [...]

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