By Robin Boehler & Stephen Boehler (Founding Partners of Mercer Island Group ) Covid-19 has changed our lives and our work. Business as usual has been interrupted, yet your clients and prospects are trying to remain truly operational. Agencies may find themselves in a pitch process that has become a virtual exercise. To capitalize on these opportunities, agencies need to adapt – and adapt quickly. How do you pitch your agency without a face to face meeting? The pitch will likely be a virtual meeting which requires different planning and approaches for your agency to stand out and win. To help agencies during this difficult time, we have put together a practical guide on how to pitch effectively via virtual presentations. 1) Ensure you have the right technology in place, and expertise using the technology Use a professional web conferencing platform for your presentation. These platforms enable the agency team and the prospects to see each – a much more personal experience than a conference call. You are also able to control the slides that your prospect sees, enhancing the communication. There are many fine web conference platforms like Zoom, GoToMeeting and BlueJeans. Choose one and master it. The presentation is not the time to explore the rich capabilities of these platforms. Also, keep in mind that your agency may need to use the prospect’s platform of choice. Some client firewalls prevent other platforms. Be sure all agency presenters have hands-on experience managing the intricacies of the selected platform. 2) Prepare materials with the medium in mind Online presentations are very different than in-person presentations. For example, the screen sizes of the participants can vary dramatically. You need to be sure your presentation is clear and [...]
We’re all blogging, writing newsletters, trying to speak at conferences, etc. We’ve got content coming out of our ears but content does not equal thought leadership. If you and 1,000 other agencies all blogged about the new Pantone color of the year — that’s content, not thought leadership. No one is going to pay you to create that. But genuine thought leadership that makes me better at my job? Now that you can get paid for! Think about how much more motivated you and your team would be if your content actually made you money and helped your clients as well. Check out an article I wrote about thought leadership and the fine line we walk to get it right. As always, I'd love to hear your thoughts. This was originally published in the AMI weekly newsletter. To subscribe, click here.
Study after study tells us that CMOs rank lead generation as their #1 priority and one of their biggest sources of frustration. So if we practice the tired “what keeps you up at night” exercise — I think we know the answer. Most of our clients and prospects need to generate more qualified leads and they admit that they don’t really have the tools or know how to do it. I speak at conferences where I am surrounded by agency owners who drive leads for their clients. But even among these agencies — there’s still a lot of discussion on how to develop a better strategy and how to help the clients embrace the technology that is part of the solution today. The truth is, many business leaders and many agencies (maybe you?) haven’t yet embraced the 2020 version of driving leads for our clients. There are lots of reasons why (cost, complexity, lack of content, etc.) but the truth is — if our agencies don’t figure out how to deliver on this need, someone else will. I don’t believe it’s optional today. A story I wrote for Forbes on marketing automation highlights this topic. How are you bringing new leads to your clients and what role does marketing automation play in that model? By the way — this isn’t just a challenge for our clients. How are you driving right fit prospects (not just anyone who walks in the door) to your agency? This was originally published in the weekly AMI newsletter. To subscribe, click here.
I have had several phone conversations lately with agency owners who have sales pipelines that have dried up. They’re frustrated and scared about business development. I get it. We’ve all been there. But when I asked them about their new business activity, they all admitted that they’d taken their foot off the pedal. Sure — they all had great reasons why they didn’t do the follow-up or initiate the new tactic. You know what I’m going to say because you’ve said it to yourself. There will always be another reason/excuse. There’s always a fire to put out or something to be done internally. You have to carve out the time to work your new business plan and protect it like it’s your favorite kid’s birthday. It’s too easy to slide backward and once you lose the momentum, it’s back to the starting gate. Like exercise, it’s a lot easier if you work the muscle on a regular basis. By the way, this is never going to happen by accident or wishing. If you don’t calendar it out, your day is never going to suddenly free up. This was originally published in the weekly AMI newsletter. To subscribe, click here.
I have had several phone conversations recently with agency owners who have sales pipelines that have dried up. They’re frustrated and scared. I get it. We’ve all been there. But when I asked them about their business development activity, they all admitted that they’d taken their foot off the pedal. Sure — they all had great reasons why they didn’t do the follow-up or initiate the new tactic. You know what I’m going to say because you’ve said it to yourself. There will always be another reason/excuse. There’s always a fire to put out or something to be done internally. You have to carve out the time to work your new business plan and protect it like it’s your favorite kid’s birthday. It’s too easy to slide backward and once you lose the momentum, it’s back to the starting gate. Like exercise, it’s a lot easier if you work the muscle on a regular basis. By the way, this is never going to happen by accident or wishing. If you don’t calendar it out, your day is never going to suddenly free up. In our Best Practices of Agency Owner’s workshop, Running Your Agency for Growth, Profit (and a little sanity!) in March, we’re going to show you some strategies for actually controlling your days so new business happens on a consistent basis. We’re also going to walk you through how to construct a business development plan that is actually sustainable and successful. Be sure to grab a seat if you think it would be helpful! This was originally published in the AMI weekly newsletter. To subscribe, click here.
Given the amount of competition out there, the challenges of landing a new client and the struggles with keeping the clients you have – I totally get the hunger to have the right answers. After all, that’s what they’re paying us for, right? Our expertise. Our years of experience. Our guidance. I want to suggest that while all of that is true – our expertise, experience, and guidance should show up in a different way. It’s not about the answers we provide, it’s about the questions we ask. When we are meeting with a prospective new client, the sentence I love to hear more than any other is “I’ve never been asked that before.” That means I am adding value. I am taking them in a direction they haven’t been before or coming at their issue from a different perspective. And odds are, the closer I am getting to the best answers. Many agency owners are frustrated that they’re the only ones who can do strategy inside their shop. I believe that’s because they’re the only ones who know how to ask questions that go beyond the surface or the expected. If you recognize your shop in that description, it’s time to teach your employees how to ask better questions. It helps if they’re naturally curious. Is their brain wired to wonder? That’s a critical trait when you hire. But if you have some team members who aren’t, then you need to help them exercise that muscle/develop that habit. Here are some tips you can offer as you’re coaching them. Keep it open-ended: Try to keep the conversation going by asking questions that require a longer response than a yes or no. Certain words trigger [...]
Most agencies struggle with sales. Honestly, I think one of the challenges of business development is that many agencies blur the lines between marketing and sales. Many agencies are getting better at marketing. Technology and social media, and all of that make it easier for you to create content or do an e-newsletter, or have a Facebook page. The challenge with that is — it’s not sales, it’s marketing. It feels like you have a new business program when really you have marketing activity. In some ways, the fact that agencies are better at marketing makes some even worse at sales. All of that marketing “stuff” makes them feel as though they can check the box of new business activity. But really that’s just erroneously putting two things in the same box that should be in separate boxes. Many agency owners say to me, “If we can get across the table from someone, we can make the sale.” And what that says to me is: A) they’re probably punching below their weight class because nobody wins all the time. B) they’re waiting for opportunities to present themselves as opposed to going out and creating an opportunity that really is the right kind of client, the right fit, the right industry, and the right size. Take a good look at your business development efforts. Do you really have a sales program or are all of your marketing activities blurring your vision? If you’re waiting for luck and referrals to completely fill your pipeline — is that helping you grow the agency you actually want to build?
Last week, one of my mornings was consumed with podcast recordings and interviews. In some cases, I was the subject matter expert but in most, I was the host, asking questions of other agency- centric subject matter experts. By sheer coincidence every conversation danced around some aspect of business development, retaining clients and creating a culture that had the capacity and passion for chasing opportunities. Interestingly, there was a thread that wove through all of these separate conversations. The theme was consistency and the overarching opinion was that agencies live and die by their habits and by the agency owner’s habits. What we do (or don’t do) on a consistent basis sets our course. That got my wheels spinning and I came up with a little quiz for you to take. Do you have at least 4-5 hours a week blocked off on your calendar for new business sales (not marketing) activity? Do you hold (and not cancel) a weekly new business meeting with your internal team? Do you have a list of no more than 25 “I’d love to have them on our roster” prospects that you proactively touch at least every 6 weeks? Have you defined your agency’s philosophy/point of view so you can differentiate yourself and does every agency employee know, understand and use the same language to describe it? Now, a tangential question. How many new clients that are individually worth at least 15% of your agency’s current AGI have you earned since January? My guess is that there’s a correlation between how you answered the quiz questions and your answer to my tangential question. You and your agency are a product of what you consistently do. Are you reaping the [...]
Hey there — folks have been asking me what tools I use to create our weekly videos, so I thought I would spell it out for you. Here’s the equipment I use. My criteria for anything I am using is that it has to be durable, reasonable small, and lightweight because every week, I am throwing it all into my suitcase and taking it on the road (except for my phone!) And I did not want to spend an arm and a leg. I'm sure you could go higher quality, but this works for me. Camera: My iPhone X Microphone: Shure MV88 iOS digital stereo condenser microphone (plugs into my phone) $149 App for the filming: Shureplus MOTIV video (get in app store) Tripod: Fotopro Phone Travel Tripod $23 (I needed two -- one for the camera & one for light) Lights: Rotolight NEO on-camera LED light $149 15 foot extension cord: Amazon recommended $7 I use an app on my iPhone (Shureplus MOTIV Video -- tied to the microphone) to record the video. For a long time, I was relying on natural light but some of the videos were just too dark so I decided to invest in a light (hence the 2nd tripod and extension cord) box which is about 4 inches square and about an inch and a half thick, so easy to pack. I don't use any sort of teleprompter. Honestly, I don't script these out. I have an idea of the main point I want to make and I just shoot from the hip. Usually, I shoot it a couple times before I'm happy with the flow of the message, but I am rarely shooting for more than 10 minutes. [...]
I totally get it. You’re busy putting out fires, delivering high-level strategy for your clients and trying to mentor and grow your team. Who has time for new business? This is one of those head versus heart things in agency ownership. You know you need to devote more time to new business but somehow something always pushes those best intentions aside. I’m here to tell you — you cannot afford to let your biz dev efforts ebb and flow. The only way it works is if you keep your foot on the pedal every day. MediaPost asked me to talk a little about this issue and how agency owners can overcome the lure of “I’ll do it tomorrow.” As always, I’d welcome your feedback. In January, we had one of the best live workshops we’ve ever had — and it was two days of talking about nothing but new business strategies with two agency search consultants who see agencies at their best and their worst. They were so generous with this knowledge and insights that everyone walked away raving about the content. In fact, it was so awesome that we’re doing it again next January. It’s going to sell out for sure — so if you want to do a deep dive on biz dev, check out the workshop and get your spot before they’re gone. However you fire yourself up and inspire yourself — let 2020 be the year that you finally embrace your role as Chief Prospect Hunter!