Episode 243:

There are two questions plaguing agencies in the spring of 2020. The first is how are brands going to respond to covid when it comes to budgets, tackling new projects and their relationships with agencies. The second is how can the agency sensitively and successfully mine for new business while the world is trying to get back on its axis. Fortunately, RSW/US recently released a new study that answers both of these questions and is filled with more good news than you might expect.

The first piece of RSW/US’ research was conducted in March 2020 just as the pandemic was hitting the US. They went back into the field in mid-May to track how things had changed over the previous 45 days and as the US was beginning to re-open for business.

In this episode of Build a Better Agency, RSW/US’ Lee McKnight walks us through some of the key findings. He also shares how some of the responses have shifted over the two months in between the studies. There’s plenty of encouraging news in the data and there are also some danger signs. Listen so you can learn what the agencies and brands are thinking, feeling, and saying as the curve flattens out and business begins to pick up again.

A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here.

Agency Research

What You Will Learn in This Episode:

  • The findings from RSW/US’ research in both March and May of 2020
  • Why small to mid-sized agencies have a better shot at being “too small to fail”
  • Why most brands believe that their spending will be unchanged or increased as business gets going again
  • The surprisingly good news from RSW/US agency research project
  • What surprised Lee the most on the agency side of the data
  • How agencies can change their messaging to position themselves as leaders in the crisis
  • What we should be thinking about as we take a new approach to case studies
  • What agencies are doing right now to get conversations/meetings with prospects

The Golden Nuggets:

“Our industry has always been about risk. And while this is different from anything we’ve been through—this is what we do.” @LeeMcKnightJr Click To Tweet “Most of our respondents believe that spending will be unchanged or increased as business gets going again.” @LeeMcKnightJr Click To Tweet “Every day, I’m hearing from agencies that are either landing new projects with existing clients or winning new clients. There is activity out there and it’s happening.” @LeeMcKnightJr Click To Tweet “What’s happening right now should be proof to every agency that they’ve got to have a biz dev program in place.” @LeeMcKnightJr Click To Tweet “If your agency is 100 people or less, you have an advantage when it comes to growth. You are small and nimble enough to make your budget work.” @LeeMcKnightJr Click To Tweet

Ways to contact Lee McKnight: