Hello,
Reading time: could be worth every second of the next 2 minutes. Don't miss the download at the end!
You've been in business long enough to know what keeps your clients happy, right?
Well there's a new study out commissioned jointly by a major advertisers' and agencies' associations which presents some hard facts about what clients and agencies value.
We've got space to share just one slice of it here, but what you'll read below is provocative. Plus there's a link to the full study at the end. Enjoy!
All the best,
Joe Grant
joe@joegrantconsulting.com
P.S. Our focus is about keeping your clients happy and running your agency right so it's a profitable and satisfying endeavor. Find out more about what we do at our website www.joegrantconsulting.com.
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 How Advertisers Value Agencies
Not long ago the Association of National Advertisers collaborated with the American Association of Advertising Agencies (AAAAs) to conduct a survey of their memberships to find out what clients and agencies valued in their relationships with each other. We'll direct you to the full report in a moment, but here are some highlights from just one section that you should know about . . . and share with your clients.
In general, clients & agencies agree that the key value drivers in their rapport are providing fresh creative ideas and developing programs for execution across multiple channels.
But the survey revealed that clients value certain activities more highly than their agency comrades.
Integrating agency functions - Clumsy agency structure and internecine warfare are transparent and vexing for clients. You can't just say, "How we run our business is our business as long as we get the job done." Internal miscommunication, redundant and costly do-overs, decision bottlenecking - clients see your dirty organizational laundry and they're bothered by the obvious inefficiency. This is one area you can control. Think about it: there's no excuse for not taking the actions necessary to make your agency run right.
Assigning the best people to the business - It's a two-edged sword, of course. You'd stock the agency pond with better people if your clients paid you more and it weren't so hard to generate an honest profit. Come on, clients: pay your agencies better and they'll reward you with better folks to help you grow your business. We suggest regular financial reviews with clients so they come to understand paying for your services is actually an investment in their success.
Working collaboratively with the client - This one caught my eye because advertisers ranked it above many other value dimensions like elevating brand awareness and even developing fresh creative ideas. The survey explains that working collaboratively means "creating an environment of low egos and high mutual respect." That suggests clients don't like having solutions dictated to them by big-headed agency types. Yes, we've all heard the arguments that WE'RE the marketing and communication experts, we're the creative people, we know better than they how to craft messages which compel action. But look in the mirror - it's a matter of style and approach. Choose your battles selectively and never forget that whenever they really want to, clients can win.
Elevating brand drivers like awareness - Duh. It's got to work and everybody gets that, yet advertisers don't like to pay for hard measurements, e.g. awareness studies. "I don't think the current campaign is working" is simply not enough reason to change course. You need facts. . . and the facts are always friendly. The history of marketing is speckled with examples of cool advertising audiences enjoyed but which didn't move the needle. . . or the product out the door. It's got to elevate awareness and there needs to be proof.
Providing new media & technology solutions - If you're a leader in new media, you are - at least for today - ahead of the pack. But keeping up is expensive and risky so all the more reason to foster the aforementioned collaborative environment with your clients. Persuade them to try new things with the understanding that some will work and some won't, as is done in the world of direct marketing with multiple trials and controls. It takes courage to say this might not be successful, but remember marketing is really nothing but a series of experiments - and success requires the stomach to take calculated chances. Again, it's about collaboration.
What to do next - The big takeaway for me about this AAAA/ANA study is that agencies and advertisers need to have a conversation about it. When we audit client/agency relationships, the strong ones are always those with frequent planned discussions, usually initiated by the agency, to discuss how to make the working relationship better.
Here's an ideal vehicle for what could be the best conversation you've ever had with your clients. Download the report, digest it, then pass it on to your clients requesting a meeting to review it together. And for God's sake, don't go to that meeting with a chip on your shoulder or your guns loaded.
Remember: clients want to work more collaboratively with you. Did I mention that?
Download the Agency/Advertiser Value Survey from the AAAAs site, here: http://www.aaaa.org/EWEB/upload/value_survey_07.pdf
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DIY Risk |
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This one will keep you awake tonight. It's an interview posted on iMedia about the growing trend of media companies creating in-house advertising for themselves and their clients. What does it mean for agencies? Read "In House Creative Threatens Agencies" on iMedia. |
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GooglePoint |
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Google added presentations to their on-line office suite and like everything they do, it's pretty slick. Others can see your slideshow on the web as you give it. Great for collaborating remotely with a client or branch office. It's part of Google Docs and it's free. |
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Sell, sell, sell! |
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Sales & Marketing Management and its sister publications have a good compendium of articles about persuasion, presentation, training, salesmanship, and related topics - plus sign-ups for a batch of different newsletters - at their site Managesmarter. Good for anyone pitching ideas. |
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Blogs #1 |
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Boing Boing is a weblog of cultural curiosities and interesting technologies. It's the most popular blog in the world, as ranked by Technorati.com, and won the Lifetime Achievement and Best Group Blog awards at the 2006 Bloggies ceremony. |
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Get a Life |
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This site never fails to intrigue. Lifehacker is full of tips about, well, improving your life. Examples: how to compute numbers without a calculator, crack a Master combination lock, reduce stress by becoming an "imperfectionist," or how about organizing your email files in search folders. And the list goes on, at Lifehacker. |
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Hang In |
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We mentioned marketing being nothing but a series of experiments. Here's a little inspiration on the importance of perseverance for reading when you get discouraged. It's at a site called They Did Not Give Up. |
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It's a Trip |
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If you want to simplify making travel plans and get handy itineraries sent right to your desk or phone, check out Tripit. It puts all the pieces in one place including maps, directions, confirmation numbers, rental car info, etc. See a sample at Tripit then go to their home page to see how easy it is. |
About Grant Consulting
Grant Consulting, formed in 1992 by Joe Grant, is a consultative resource for advertising agency principals who want to improve their agencies. The firm works on a highly selective basis with agency senior managers to help them discover and then reach their full potential. Copyright 2007 Grant Consulting Associates, Inc. All rights reserved. We encourage sharing in whole or in part if copyright and attribution are included. Contact us at:
Grant Consulting
239.394.8220
joe@joegrantconsulting.com
www.joegrantconsulting.com |
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