Your First FlashReport?
06-02-2010
CONTENTS:
1. Your First FlashReport?
2. Keep Agency Business Development Forthright & Ethical
3. Catherine Magee, the New Boss Lady
4. When You Need It; Your New Business Tool Kit
5. Powerful New Business Ally – Your Agency Tour
6. and finally, a special mention (and blatant plug).
YOUR FIRST FLASHREPORT?
If this is the first time ever (or in a long time) you’ve received our
FlashReport (registered agency newsletter), it may be the result of an
aggressive “update” campaign we recently initiated. The FlashReport is
meant only for registered agency personnel and normally sent to the
primary and alternate new business contacts in the agency profile.
Problem is – when either of those positions are vacated, all too often
no one at the agency makes the necessary updates, so for awhile,
sometimes a long while, our e-mails connect with no one. This recent
campaign involved phone calls whenever necessary, but in many cases,
we’ve used your website “contact” data to make our changes. If you are
NOT the agency’s primary or alternate new business contact, please
make the appropriate changes. E-mail us if you need your User Name and
password!
KEEP AGENCY BUSINESS DEVELOPMENT FORTHRIGHT & ETHICAL …
Forthright & ethical, as in respected and proper behavior in the
course of new client development. Interestingly, some industry
spokespersons have decided it’s their responsibility to define
“ethical” or “what’s proper” in new business development. Frankly, as
has always been the case, unless it’s against the law, every business
and every agency has the right to operate as they see fit. How you win
or lose is your business unless or until you break the law. However,
short of that, when a business model is flawed or when practices are
deceptive, the perpetrator will ultimately be found and suffer the
consequences of lost clients and lost revenue. Not to mention a
tarnished reputation.
On that topic, many agencies and pr firms depend upon a variety of new
business practices to identify and approach prospects, and they do so
to get face-to-face. Many agencies use in-house talent, but others
turn outside to hire sub-contractors, often referred to as “lead
generators”, a “new business agency”, “business development
consultancy”, “new business consultancy” or just “outbound
prospecting”.
Successful outreach programs (in-house or outsourced) generally
incorporate an initial telephone call to a pre-screened prospect; then
a sincere expression of desire to engage in meaningful dialogue on
this and future occasions; the sharing of marketing thoughts and
concepts that might apply; and the stated interest to “get-to-know”
and “earn-your-trust.” The ultimate objective is that “first meeting.”
When done by agency personnel, the caller introduces themself by name,
often including agency title, then agency name and city. In the course
of that, or more typically after subsequent conversations, they
suggest “since we’ve discussed concepts that might be helpful in your
business, would it make sense for us to get together and meet?” Most
successful dialogues of this sort take place between prospect and the
empowered business development director, someone who should and would
attend such a meeting.
Ironically, in an industry pollsters report already has a dubious
record for honesty and integrity, some agencies hire outsourced firms
that engage in deception from the onset. The caller uses an alias (not
their real name) and implies employment at the agency for whom they
are calling. (i.e – Good afternoon, this is Richard Alias with
Thompson Advertising in Cincinnati, OH). The meeting they’re selling
never includes themselves; they’re just selling appointments.
“Dialing-for-dollars” as it were … If the client wants to return the
call, they do so to an agency voicemail (alias name and all)
established with full knowledge of agency management and compliscent
in the charade. Agencies naively declare they only pay $200 or so for
an appointment. I mention we used to do the same, but our fee was
$400. Why? they would ask. Because we split the $400 with each client
that agreed to such a meeting …
There’s nothing wrong with outsourcing, but let’s lift the integrity
of the industry by guaranteeing the outsourced caller identifies
themselves precisely for what they are and what they seek to do. (i.e.
– Good afternoon, this is Richard Rightname with Appointments-R-Us;
we’ve been engaged by Sunrise Advertising in Phoenix to help introduce
them to great companies like yours that might be interested in their
services …) Clients will never object to that, and the honesty would
be refreshing! However you handle business development, keep it
forthright, ethical and clean!
For additional thoughts on all this; visit the article on our website.
CATHERINE MAGEE, THE NEW BOSS LADY
Whether you’re registered or contemplating registration, your primary
contact here is Manager of Agency relations. Kaille Padgett made
scores of friends during the seven years she was here; Jon Damiano
(with P&G and Reynolds Aluminum credentials) was with us for a shorter
period but brought a new perspective to the position. Now, although
I’m a bit tardy, I’m pleased and delighted to introduce Catherine B.
Magee. Catherine joined us in early January this year – let me tell
you more.
Catherine’s primary duties are to guide advertising agencies and
public relations firms through registration and profile development so
they can be found and introduced to any of the 800 clients expected to
use AgencyFinder to find and hire new or additional marketing service
providers this year.
Catherine brings a great deal of agency-side experience which I found
very appealing. She knows what it’s like to go through laborious
client RFP’s only to discover the client didn’t know what to do with
the information once they had it. Since the AgencyFinder registration
process allows agencies to submit pro forma information often required
in an RFP, clients are able to analyze important data instantly and
objectively during the first stages of the selection process, and
without employing an RFP.
Catherine’s agency-side experience includes tenure at
Lawler-Ballard/Earle Palmer Brown and Hawley Martin in Richmond, VA
and ten years’ Chicago experience at Campbell-Mithun and TracyLocke,
assigned to major national brands. She became almost bullet-proof when
she took on selling television for the CBS and NBC affiliates here in
Richmond, Virginia. At AgencyFinder, one primary responsibility is to
make sure we’re continuing to recruit and retain the best agencies in
North America and the UK to be part of the online portfolio that
clients access at no charge. Most importantly, she knows how much
time, energy, frustration and (mild) heartache is always part of the
conventional agency process, and she’s anxious to illustrate how
AgencyFinder, with our modest fees, will save an agency time and
money.
There’s a lot of ‘tire-kicking’ going on right now. That’s easy for
searchers to do online, and that’s why we insist on personal
interaction and telephone consults with every client. Our member
agencies expect that and Catherine makes certain they know that
happens.
“I see things from the perspective that only someone who has worked on
the agency’s side of the table can bring,” said Catherine. “I
understand where these agencies are coming from, having worked for
both large and mid-sized agencies. I also appreciate the pecking order
and political roadblocks that sometimes exist on the inside. The
system here allows us to make sure the right agencies are in the
running for the right accounts.”
Note: AgencyFinder assisted in the placement of over $294 million in
new business with registered agencies and PR firms in 2009. The
average account was slightly greater than $1 million.
WHEN YOU NEED IT; YOUR NEW BUSINESS TOOL KIT
We’re so much more than a directory or listing service; there’s no
comparison. Better put, we’re your partner in new business
“everything.” It’s easy to overlook or forget all you have access to
(as far as new business is concerned) as a registered member of
AgencyFinder. We recently updated that page on our website; I invite
and encourage you to view, then email or call to invite our
assistance. Check it out.
POWERFUL NEW BUSINESS ALLY … YOUR AGENCY TOUR …
Each and every client that uses our service is encouraged unmercifully
to embrace the virtues of conducting agency site visits and tours.
Don’t be bashful about making the pitch yourself. On a recent “food
service” win, the winning agency fought hard to convince the client to
visit their shop. To hear it told, apparently the client was expecting
a more traditional agency layout, only to be pleasantly surprised and
a bit overwhelmed to discover this agency had audio, video and print
production facilities above and beyond the norm. Although not needed
for initial steps in the relationship, the presence of those
facilities bode well going forward and in influencing the award
decision.
Here are some tour tips … your tour is best orchestrated to move
from station to station as much as possible like a job moves through
your agency. Many of our agency students have built a tour outline
that suggests a route that follows the production of a magazine ad.
Begin your tour where the ideas begin; then move forward to whatever
constitutes the next step. It’s only natural to introduce the players
at each “station” and a perfect environment in which to discuss that
technology or agency strength. If you’re actually using a “mock ad”
and having it unfold as you progress, you have a perfect opportunity
to seek input from your visitors. What they say and how they answer
will reveal decision-makers and preferences you can use to your
advantage later when you “really” start pitching!
Save your conference room for last – let that serve to field
last-minute questions, re-affirmations, and your chance to ask
“closing questions.” Make sure to learn what the client sees as “next
steps.” And try to be certain YOUR AGENCY is involved in those “next
steps!”
… AND FINALLY, A SPECIAL MENTION (AND BLATANT PLUG).
Any agency involved in B2B needs to consider attending the 2010
National BMA Conference June 2nd thru Jun 4th in Chicago. Our good
friend Gary Slack and his team have assembled a powerhouse event –
witness: After last year’s successful “UNlearn” conference, which drew
450 business marketers, this year’s “Engage” conference is expected to
draw 700+ and again sell out early.
To be held in a fabulous new state-of-the-art conference facility at
Chicago’s Swissotel, the conference will run from mid-day Wednesday,
June 2, through mid-day, June 4, for 48 straight hours of jam-packed
learning and networking.
