Uncategorized

RFPs are costly. As calculated investments, they may have great ROI, but on the whole, they waste resources. Some agencies have gotten to the point where they refuse to participate in the RFP process altogether. On the other end of the spectrum, some agencies get excited just to receive an RFP, submitting each one that comes their way. Which approach is right for you? Probably neither, and definitely not the latter. Despite the drawbacks of the RFP process, it’s unlikely to die anytime soon, and it remains the pathway to doing business with many brands. For most agencies, it makes sense to include some RFPs in their new business generation mix. The question is: what is the smartest way for your agency to approach RFPs? It pays to be picky. A lot of introspection and qualification should go into your evaluation of an RFP opportunity, just to determine if it’s worth your time. If you are unlikely to win it (or worse, if the prospect isn’t a good fit), what is the value in pursuing it? Exercise your right to say “no.” There is a lot of power in rejecting opportunities that are not worth your time; in being selective. Pursuing fewer, better-matched opportunities (instead of more, poorly-vetted ones) will lead to better outcomes. One of the dangers of RFP evaluation is a thing called “hope-ium.” That’s where you gloss over the red flags that tell you not to respond to the RFP because you are singularly focused on what it would mean for your agency to win the business. When you are thinking about how much you want to win the account, you aren’t focused on how likely it is for you to win [...]

You had a great conversation with your prospect.  Maybe even a few conversations. Emails flew back and forth.  You had done your research, figured out their challenges, and developed solid solutions.  You had shown the ROI that would come when they bought from you. It was going great. Or so you thought. Because one day they just weren’t there anymore.  Emails didn’t get returned, phone calls always went to voicemail, and your letters were sent back marked “return to sender.”  (OK, maybe not that last one.) But you had to accept the fact: You had been ghosted. The Pain of Getting Ghosted The term ghosting comes from the dating world when someone abruptly cuts off communication without warning or explanation.  Usually, it stems from one partner trying to leave the relationship without conflict or having to deal with the negative repercussions. And now the practice has infiltrated the business world as well.  Instead of telling salespeople or potential professional partners “no”, prospects cut off communication and become impossible to reach. This isn’t the same problem as when you are first reaching out to a prospect.  That has always been a challenge and will remain so. Ghosting is different because it happens once the conversation has already started.  And not only has the conversation started, it’s usually going well. There can be multiple phone calls and emails where the prospect is excited, and it seems like there is a legitimate chance to move business forward. That’s why getting ghosted hurts on both a business and person level.  It’s a surprise that doesn’t seem to make sense. Everything is going smoothly and then radio silence. Why Do Prospects Ghost You? Here’s the biggest challenge for salespeople when [...]

News outlets have been warning of a potential recession for a while now, and it’s no secret that marketing services are often the first items to go in the event of a recession. In 2009, the last year of the Great Recession, United States advertising spend fell by 12%, while it plummeted 9% globally. What’s more, a February 2019 survey of CMOs revealed that most CMOs are “on the fence” about the U.S. economy. So what can agency leaders do to prepare for a recession properly? Based on interactions AMI has had with our partner agencies, we have identified these top four trends that may affect how your agency prepares for the future. I recently contributed this article to SpinSucks.com discussing some steps agency leaders can take to prepare for another recession. I hope it provides some valuable insights into how to run a more productive agency, and I look forward to hearing your feedback on it!

Millennials will soon take over as the leaders of the workforce, and we need to be ready for their preferences. They are used to more advanced technology than we had at their age, and their access to social media and other communication platforms during the Great Recession means they think of things like money and value in a much different way than generations before. My agency also recently surveyed 1,000 agency employees to learn more about this generation’s mindset. I draw upon my own experiences, our research, and other sources to help agency owners understand how to manage millennials. Create True Transparency: To millennials, real transparency means increased context fueled by the desire to engage and connect with those around you. So next time, tell your millennial employees what could be improved or how their efforts have helped the business grow. And don’t be afraid to be honest about why a competing agency might have won that valuable client (and what the team can do collectively to get better). Get to know your millennial team members as people, not just as employees. Ask about their interests outside of work, and inquire about their weekends on Monday mornings. These little connections can add up. Help Them See How They Fit Into Your Agency: Millennials have a lot of options in front of them, causing a struggle to make important decisions about their future, further leading to confusion about their identity and purpose. Social media platforms like Instagram and Twitter nurture this; younger generations always have someone to compare themselves too. Millennials are accused of being “job hoppers” because they always see greener grass on the other side. With all this in mind, leverage the compassionate side [...]