Tag: advertisingagency

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How to Grow Business Organically

New business gets attention. It’s obvious when you win and depending on the size, it can lead to getting press coverage. But, in a lot of cases, organic growth can have a bigger impact on the agency. Organic growth is a testament to the strength of the existing client relationship and validates their satisfaction with the agency’s performance. But getting organic business can be tricky. Below is an overview of organic growth and 10 keys to acquiring organic business:

What is organic growth?

Organic growth is any business that is added to an existing account. It can come in many different forms – adding a different line of business, a new channel (e.g., website or CRM) or department (e.g., media or production). It varies in size and effort.

10 Keys to Acquiring Organic Growth

  1. Create a Strong Foundation.

It starts with a solid foundation. If you don’t have it, the chance of growth is extremely low. The team has to be delivering strong work and have a solid client relationship to grow.

2. Share Capabilities.

Make sure clients know the full breadth and depth of the agency’s offering. In a lot of cases, clients don’t realize you have experience and capabilities outside of what you do for them. You need to be proactive and weave these additional core competencies into your day-to-day discussions with clients.

3. Share Latest Agency News.

It’s human nature to want to work with companies that are trending upwards. Companies that are doing well and are growing. Make sure to share regularly your agency news, such as client wins, new and relevant case studies, and new initiatives that the client might be interested in. A couple of ways to do this is through a monthly agency email that is specifically for clients and agency leadership check-ins with the client.

4. Understand the Client’s Entire Business.

Led by the client service team, develop a strong understanding of the client’s entire business, including outside of the business that you currently work on. What are their pain points? How is their relationship with other partners? What are their future objectives? What other service lines could use more support? The key is listening to help identify the opportunity.

5. Develop an Action Plan.

Based on what you’ve learned, develop an action plan that leverages what you’ve learned. This action plan is to include what you are trying to solve, potential solution(s), resources and effort needed, and potential timing. This is the framework that sets the stage for creating a custom solution.

From an agency standpoint, it’s helpful to challenge all client leaders to do this yearly, potentially including in annual planning.

6. Go for the Ask.

Asking for new opportunities can be awkward. Timing is critical. It helps when you are coming off something positive such as a great meeting. Must convey you have a solution to one of their problems, that it won’t interfere with the work that you are currently doing for the client and ask to be able to share your thoughts.

7. Develop Solution.

Organic growth can put your reputation at risk if you don’t develop a strong solution. It’s opening the door to other team members/resources that don’t work on the business today. Team leads must be confident that these additional resources are good, would be a great fit with this client and have the ability to continue the momentum that is already established.

Once you seed the idea and the client is open to hearing more, the next step is developing the solution. The solution should be grounded in:

  • Addressing the pain point/opportunity previously discussed.
  • Knowledge of the business as you know their business better than anyone.
  • Share the efficiencies that can be gained by acquiring more business.
  • Reassure clients it won’t hurt the existing business.

8. Share Solution.

Determine when it’s appropriate to discuss the solution with the client. This could be when you’re planning for the upcoming year. Usually, it’s best to have the existing leader of the team be the key figure in the presentation, supported by the leader of the business that is trying to be added. For example, if you are trying to grow by adding internal studio production work, you would have your client leader and the production lead be the central figures in the presentation.

9. The Journey.

Hopefully, you made a solid impression. Most likely the journey to get organic growth doesn’t end here. There are probably future steps like presentations with other clients or potentially the client deciding to create a formal pitch. The key is to continue to strengthen your solution as the client gets closer to awarding you the business.

10. Seamless Onboarding.

The onboarding process should be simpler than new business since you already know so much about the client. The leader of the business that is being added (e.g., in the example above would be the production leader) is to spearhead the onboarding process. The account leader should be kept informed of progress, help establish relationships, ensure the efficiencies are taking place, and doesn’t negatively impact the existing business.

And don’t forget to celebrate the win. Although not as glamorous as a traditional new business win, a lot of work goes into organic growth and the opportunity can be the same. So it should be celebrated the same. Good luck!

If you have any questions on organic growth or need any support, please feel free to contact brianphelps10@gmail.com

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The Secret Sauce of New Business

New business is hard. It is grueling, fast-paced and most likely the odds are stacked against you. You’re going to exude a ton of effort. Depending on the size of the pitch, you are probably competing against multiple agencies, potentially the best in the business. And to make matters worse, you probably have to agree to tough terms to even be in the pitch, which could include signing off the rights to your work. It’s a harsh reality of today’s world of new business.

If you are fortunate to have clients coming directly to you in the absence of a pitch, it’s truly a great thing. Or your client roster is maxed out and don’t need more business. But for everyone else, pitching to gain new business is a necessary evil.

After competing in numerous pitches and winning several, my new business secret sauce has three components:

  • Passion: must show at every step along the journey how much you want to win. You must have max effort even on the smallest details.
  • Relationship: pitches are an artificial experience. It’s hard to build a real relationship but clients need to get a sense of what it’s like working with you – your team and the agency culture.
  • Solution: what is your unique solution that is memorable, breakthrough and addresses the main ask of the pitch.

With these core areas top of mind, below are the 10 keys to winning a pitch:

All In

This might sound pretty obvious but once you decide to enter the pitch, you have to give 100% effort if there is any chance of winning. If you continue to debate participating, then don’t bother. You won’t put the effort needed and you will lose.

Exceed Expectations at Every Stage

Pitches have several stages. The goal is to exceed client expectations at every stage. You need to leave a great indelible impression. Much too often agencies can “top out” early in the process, which pretty much dooms your chances. It’s better to be good early and awesome later. The stages to getting to winning usually goes like this:

  • Prospecting
  • Credentials
  • Written response
  • Q&A
  • Client check-in (potentially)
  • Stand up
  • Q&A
  • Follow up
  • Negotiate
  • Win & Onboard

Superior Response Team

The backbone of new business is the response team. These are team members that live, breath and sleep new business. They move fast, have a breadth of knowledge, extremely detailed oriented, include solid business writers and keep the machine on its right path. Identifying a primary team member that will oversee the pitch is also critical.

Research like Crazy

Having insights along the journey is crucial. Who are the clients? What makes them tick? What are their passion areas? Where does the brand fall compared to their competitors? The more insights you have the better as you can choose when to tap into them.

Determine Why Business is up for Review?

One component of research is to gain a great understanding of the real reason the business is up for review. You must get to the core reason, which usually falls within relationship, creative, or financials:

  • Souring of relationship with current agency
  • Previous agency perceived as too expensive
  • Struggling with the creative output
  • Client management change

Once you figure this out, you can play into it and drive home that it is actually one of your agency’s strengths.

100% focus on their Business

It’s easy to talk about yourself. It takes less time since the content is already created and some just like talking about themselves. But if you’ve made it passed the credentials stage of the pitch, clients don’t want to hear about you. They want to hear how you are going to help them.

Dynamic Pitch team

Probably the most important area is the pitch team. It makes or breaks a pitch. Having strong, qualified, knowledgeable team members who are strong presenters. One component that is overlooked sometimes is the balance of leadership and the actual team that will work on the business. The old bait and switch (having a pitch team who then never works on the business) is not viewed positively by clients. A transparent discussion should be had about every potential pitcher and discuss strengths and weaknesses to get at the strongest team.

Solution

What is the unique idea or solution, which is translated through breakthrough creative. It must be memorable, be on brand and have a clear POV. It’s good to have some variation but needs to ladder back to the primary idea or it looks like you don’t stand for anything.

Negotiate with Confidence

It’s a great sign that you have advanced to this stage. Chances are they are doing the dance with another competitor so not completely out of the woods. This is where a really good finance person is really important. You’ve spent a lot of work to get to this point. Stand confident with your proposal and negotiate to get what you think is in the best interest of your agency.

Thorough Onboarding Plan

Now the real work begins. Onboardings are awkward. They involve the incumbent agency usually and you are still getting to know the clients. Clients want to be reassured that it’s not going to be extremely painful flipping the switch to work with you. It’s usually best to acknowledge the awkwardness and dive into utilizing a proven onboarding architecture that is grounded on a proven process, speed, and thoroughness.

Lastly, try to carve out some fun. New business can lead to some of the most memorable parts of your career. And if you win, it can have a huge impact on your entire agency – from financials to agency culture. Good luck.

If you would like to know more or have any new business questions, please email: brianphelps10@gmail.com.

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The Journey: Top 10 learnings from starting a small business.

Starting this journey a few months ago has been a roller coaster – fun, challenging, had its up and downs and a little scary. I’ve enjoyed the flexibility and the ability to carve out my own path. In this short amount of time, I’ve learned a lot on this journey, including:

Crazy hard. 

I have always been impressed and admired those who have had the courage, confidence, and determination to go out on their own. Especially those whose hard work pays off and can create something successful and impactful. 

Unlike large organizations, it’s all on you to create success. Given this, it’s a ton of work. The amount of foundational work at the point of creating is high. and includes LLC creation, tax info, branding, templates, and platforms like your site, etc.

Three paths.

A key is being able to multitask – juggling building a brand, working on initial client business, and prospecting for new business to continue to grow. Each one is critically important. If fortunate, you have to do in parallel.

It’s always important to have each touchpoint be strong but crucial when starting out. Each one is setting a tone for things to come.

People business.

I have always had the opinion that relationships matter. Your network. Understanding who is great already so you know who to leverage when you need help. And you’ll need help. 

But I’ve never really invested the time for connections as much as I should have. Networking, conferences, etc. Something that I’ve learned matters and focused on doing in the future.

Smile more. 

Studies show the power of smiling. People want to interact and spend time with people that smile. Yea. Ha. I’m a pretty even keel person and don’t show emotions. This serves as a nice reminder to pump up the energy and emotions. 

Continuously learning.

Starting something brand new there are a ton of unknowns. Leverage online tools, networks, and LinkedIn to continuously learn.

LinkedIn has some great training in their LinkedIn Learning series. They are easy to do and pretty quick. I recommend downloading the app and carving a little time throughout the week to continue to improve yourself. Here’s an example that ties into smiling…https://www.linkedin.com/learning/creating-great-first-impressions/your-first-impression-challenge

Financial game plan.

Not a ton of fun, but having a financial game plan is crucial. Work with an account and financial advisor that you trust to make sure the foundation is strong. Also, make sure you have contracts with those that you pull in. I’ve learned this one the hard way.

The small things.

Don’t let being “busy” be an excuse to not do the little things. The term busy is I think a trap. It’s an out to not do things you should do. Send a note back to someone who reaches out of the blue. Go to coffee with an old acquaintance. Reply to an email, even if just a couple of words. Help someone that could use it. Carve out time to make these things happen. I was pretty bad at this.

Templates

Don’t reinvent the wheel. Leverage the templates/content sources that are out there that you can customize. And wow, are there a ton. Test them out and see what you like best. Then document which ones you like. Here are a few of my favorites:

Envato: templates for designing everything from presentations in keynote to designing communications.

Graphic River: more templates and can purchase one-off.

Unsplash: stock photography that you don’t have image issues and is free.

Are you a Tiger or a Roger?

There’s a great book called Range: Why Generalists Triumph in a Specialized World. Everyone knows Tiger Woods’ story. Child golf prodigy when most kids are learning how to talk and walk. But did you know that arguably the greatest tennis player that ever lived grew up playing multiple sports, focusing much later on tennis?

Most think the best route in life is to specialize in something. This book contradicts this opinion and outlines why being a generalist/hybrid is a better path. So the question is, which one are you? I’ve figured out that I’m a hybrid.

Determined.

So it’s early. Still learning and enjoying the journey. The key is staying determined and focused. For those out there doing the same, congrats and best of luck.

If you want any advice or need any marketing support that leverage this learning, visit: https://brianphelpsconsulting.com/contact/

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Leadership: the Anti-CEO Playbook.

We’ve all seen TED Talks. There’s a lot of them. But I recommend taking less than 18 minutes to watch the founder of Chobani Hamdi Ulukaya’s talk on leadership.

CEOs play an instrumental role in business. They set the tone for the ship. The term Anti-CEO is, in my opinion, is a little drastic but his story and points are compelling.

Grounded in the American dream, he created a billion dollar company by starting with an abandoned yogurt factory, and led by four key principles: Grattitude, Community, Responsibility & Accountability:

Grattitude:

Businesses should take care of their employees first. Not the balance sheet or shareholders.

Community:

Ask what you can do for your community rather than what your community can do for you.

Responsibility:

Businesses must take a side in politics. Touchy topic in today’s climate. But agree that businesses can have a huge impact on our world.

Accountability:

CEO reports to the community. Everyone is empowered to make change. And consumers should reward those businesses that are doing it right.

His recap is spot on:

  • Right with people.
  • Right with community. 
  • Right with product.
  • You will be more profitable. More innovative. More passionate people and you will have a community that supports you. 

Already a fan of the product, knowing who is at the wheel and their story, will remind me which yogurt I should grab next time at the store.

For more leadership ideas, feel free to contact Brian Phelps Consulting: https://brianphelpsconsulting.com/contact/

References: thanks to TED Talks for use. https://www.ted.com/#/

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Leadership: The Power of “We”

“The ratio of We’s to I’s is the best indicator of the development of a team.” – Lewis B. Ergen

The smallest words can have a huge impact on a team, both directly and indirectly. This includes using “we” as a replacement to the term “I” in your daily vocabulary. Harvard Business Journal published a great article about the power of “we”. It cites research from Journal of Language and Social Psychology and finds:

  • When people feel insecure, self-aware, or diminished, they are more likely to focus their thoughts, feelings, and behaviors inward.
  • By contrast, the researchers theorized that individuals using first-person plural and second-person (such as “we,” “us,” or “you”) ought to demonstrate an outward focus, considering the thoughts, feelings, and behaviors of others.
  • Individuals with lower status overwhelmingly tended to use first-person singular pronouns (“I”).
  •  Likewise, higher status individuals used significantly more first-person plural (“we”) pronouns. 
  • While switching from singular “I” to the plural “we” it might help shift your perspective from self-focused to others-focused, make you more aware of the needs of others and, as you work to meet those needs, might just make you a better leader.

It’s hard to get used to doing because it sounds a little strange but has a lot of collective benefits:

  • Communicates that you understand that you’re a part of team
  • Gives credit to the broader team
  • Reinforces that you are not more important than the team
  • Shows that you are secure with your role in the team

For all leaders, I recommend the use of we in your daily vinocular. This is especially true for account team leads as you are tasked to be the voice of the collective team, both internally and with clients. Below are a few examples of singular-focused uses and suggestions for you to use moving forward:

  • “my client” vs. “our client”
  • “my POV” vs. “our POV”
  • “my account” vs. “our account”
  • “I did” vs. “we did”
  • “I need” vs. “we need”
  • “if you have questions, let me know” vs. “if you have questions, let us know”
  • “my opinion” vs. “our opinion”

Side note: you can never have enough good quotes in advertising, especially as you build presentations. Below are a few other teamwork quotes that I like:

  • “Great things in business are never done by one person; they’re done by a team of people.” – Steve Jobs
  • “Alone we can do so little; together we can do so much.” – Helen Keller
  • “A group becomes a team when each member is sure enough of himself and his contribution to praise the skills of others.” – Norman Shidle 
  • “No matter how brilliant your mind or strategy, if you’re playing a solo game, you’ll always lose out to a team.” – Reid Hoffman
  • “It is amazing what you can accomplish if you do not care who gets the credit.” – Harry Truman

For more leadership advice or formal training for your team, feel free to reach out to: brianphelpsconsulting.com.

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Traditional agency vs. in-house agency

Interesting to observe clients bringing their advertising development in-house. Based on my experience, agree with Digiday’s analysis below regarding the pros/cons. But I believe there are three keys to success:

1. Passion: Being able to replicate the agency’s tenacity to deliver. Agencies bend over backwards to deliver on behalf of clients. The key is matching this passion to deliver when it’s done by co-workers rather than a partner.

2. Talent: ability to recruit diverse creative talent to work in-house and breakaway from agency background.

3. Management: having excellent oversight that helps inspire, prioritize and provides new and innovative opportunities to continuously stay driven.

Per Digiday article:

https://digiday.com/marketing/moving-marketing-house-control-speed-not-worth-hassle/

For in-house:

  • Greater speed and efficiency
  • Reduced costs
  • Control

Against in-house:

  • Talent doesn’t want to work on just one brand
  • Media buying is time consuming
  • Agency have more insights
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10 Keys to Successfully Onboard Client Business

New business is truly a roller coaster. The ups and downs. The uncertainty. With it comes competing against the best of the best. The need for game planning. The endless determination to be victorious. It’s the lifeblood of our business. Without it, your business will not thrive. Not much is sweeter than getting the call that the hard work you invested, paid off.

And then once you win, you have that moment of:

Oh crap, now we have to bring to life what we just pitched…and quickly. 

I’ve been fortunate to be on the winning side of several pitches and had this moment, both large and small accounts. Two things are constant – they are a lot of work and each one is different. But they are so worth it as it helps growth and brings new opportunities to the organization.

Thorough, fast and smooth.

I define successful transitions as those that are thorough, fast, and relatively smooth. Clients are satisfied with the experience and it serves as helping build confidence in your ability to manage their business. Internally they don’t cause a ton of disruption to the organization. Based on my experience, here are the 10 keys to onboarding a new client:

1.  “It’s not personal. It’s business.”

As they say in the movie You’ve Got Mail (20+ years old already, wow!…), it’s not personal. It’s business. But it’s really hard to put emotions to the side during transitions. Jobs are directly impacted. Questions abound wondering what the losing company could have done differently.

If you just lost the business, you are most likely frustrated, mad and fluctuating between the 7 stages of grief. Remember the decision was not personal.

If you just won the business, be empathetic and not judgmental. If you are in the business long enough like me, you’ll be on both sides. Not to mention you probably need some level of support from them to help ensure a smooth transition. 

2. Onboarding foundation.

It’s key to have an overall approach to onboarding business. What is your organization’s overall onboarding process, who is involved, what agency templates are used? It should not be dependent on a specific type of business. It serves as the foundation and can be used in pitches and then needs to be customized to the specific pitch you are working on.

3. Strategize on how to win.

As you progress through the new business process and get closer to the decision, you should be thinking about what it’ll take to onboard the business. Carve out time to take in what you’ve learned through the new business journey and customize the plan to the client’s needs. What are the expectations on timing, on resources, on the process, to what stays constant from the previous agency? Start with the end in mind. And work backward on the steps to get there. I recommend collaborative whiteboard sessions to map it all out. 

4. Establish a core team.

Establish a diverse team that will lead this account and reflective of the groups that will be on the client business such as account, creative, media, strategy leadership roles. This is a team that has experience doing transitions and have been in some way a part of the pitch. These team members need to be hardworking and dedicated. They need to be empowered to make broad decisions across the entire business and comfortable having transparent/direct conversations.

5. Establish a support team.

This is representative of who the core team will be regularly interfacing with to move the account forward. This includes Human Resources, Finance, Project Management, office logistics lead, etc. They are helpful, understand the urgency and importance and able to move quickly.

6. Prioritization.

Break down everything that needs to be done into digestible pieces. Attempting to tackle everything at once can feel extremely overwhelming. Identify what projects are immediate/must-haves, nice to have, and lastly a category of in a perfect world. Put your best and fastest resources on the immediate needs. Do the same for the new positions. 

7. Talent is key.

The pressure to hire talent quickly is a given. It’s easy to give in and fill the holes. Don’t do it. I’ve hired a couple times due to pressure and it has never worked out. It’s better to explain the situation and why it is taking longer versus filling it with the wrong person. “Cross interviewing” is recommended where team members from other groups interview the candidate as well. For example, if it’s an account opening, have the creative and strategy team members represented in the interview. When hiring, don’t forget about the team members that helped you get there and see if they would be a good match for the new positions. It’s a great way to acknowledge existing internal resources. 

8. Hot huddles.

No one wants more meetings but I recommend daily huddles with the core team and a couple times a week with the support team. They are 15 minutes max so you need to go fast and are in the morning to start the day. Document the discussion to include: 

    – Client understanding 

    – Timing 

    – Process

    – Key Projects

    – Resources 

    – Logistics 

9. Progress tracker.

Keep an ongoing tracker that documents the progress being made on a daily/weekly basis. This will help show clients the hard work being implemented and what is remaining. It can also be used to communicate with the broader agency to help energize the collective team.

10. Have fun.

Remember that winning business is a good thing. It’s hard to see the forest through the trees but your hard work and dedication are positively impacting others. Carve out moments along the onboarding journey to thank team members and show appreciation.  

 If you or your business are going through a transition and need guidance or have questions, feel free to reach out to brianphelpsconsulting.com. 

Good luck!

Wikipedia contributors. (2019, June 26). You’ve Got Mail. In Wikipedia, The Free Encyclopedia. Retrieved 14:17, July 4, 2019, from https://en.wikipedia.org/w/index.php?title=You%27ve_Got_Mail&oldid=903559829

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