Author Archive

Agency Owners — No Rest For The Weary?

Written by ChuckMeyst2015 on . Posted in Blog Posts, Business Development

Owning, leading or even just working in an agency is a fantastic gig. You get to be surrounded by wicked smart, witty, committed teammates, you get to save the day for clients on a regular basis and let’s face it, the work is fun most days.

We are lucky. Damn lucky. But we are also tired. Along with all of those privileges comes the worry of keeping the sales pipeline full, dealing with the human side of your team and clients (which can be both joyful and tragic as we all walk out our lives together) and long, arduous days (and nights, and weekends….).

Drew McLellan

We work at a pace that is fast and furious, shifting from one client to the next and often working weird and long hours. That is unsustainable without giving yourself some respite.

But we’re not so good about giving ourselves that break. It’s not about taking a vacation or a long weekend or just not checking email for 24 hours — it’s about survival.

Back when I was a kid in the business (call me 30 or so) I remember one of my mentors saying “This is a young man’s game, Drew.” And that was before the 24/7 connectivity we have now. I think he was both right and wrong. Our chosen profession does require an incredible amount of energy and passion but that’s not about being young. It’s about recognizing that it’s an endurance sport and we have to train and plan for that.

Here’s my challenge to you — when was the last time you didn’t check email for 24 hours? When was the last time you took 5 workdays off (in a row!) and played as hard as you work? Who (family, friends) are you not getting enough of in your life?

If you don’t like the answer to those questions — fix it. And then go to your 2018 calendar and schedule some breaks for yourself. Re-fill your bucket so you don’t come up empty.

This post courtesy of Drew McLellen, Chairman & CEO at AMI, Agency Management Institute and  President of his agency McLellan Marketing Group

 

One More Time; Let’s Simplify Branding & Marketing

Written by ChuckMeyst2015 on . Posted in Blog Posts, Marketing Partenerships

Our company matches advertisers with qualified marketing firms, so we constantly field requests for branding firms, branding services, or just for branding. Conversely, it seems every agency today declares themselves to be a branding or digital agency. So just like media alternatives have grown to a complex set of options, so have the meanings of branding and marketing. Here are some versions that may help simplify things.

Image result for kentucky peerless distilling co

Start with Branding. The one I like says it’s the essence of a product or service. “The intrinsic nature or indispensable quality of something, especially something abstract, that determines its character.” Or “a property or group of properties of something without which it would not exist or be what it is.” Accordingly, the toolkit of adaptations agencies claim they can bring to bear on branding generally seem reasonable, but they generally serve as participles to the noun branding. Does it seem reasonable then that the essence of anything could serve to promote itself? Any more than a race horse could win a race without running?

That’s where marketing comes in. Marketing runs the race. Some say “Marketing is the process of bringing goods or services to market.” How’s that for simple! Marketing then as an all-encompassing concept is far-reaching. It could include research, advertising, public relations, direct marketing, social media, experiential and more. Curious then how digital fits in that set. Yet most agencies today are want to declare themselves as a digital agency. To add to the confusion, it seems everyone pontificates about branding and marketing. Since those conversations will undoubtedly continue, in the meantime I hope this helps.

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THE SOLUTION FOR BEING TOO EXPENSIVE

Written by ChuckMeyst2015 on . Posted in Blog Posts, Business Development

It’s early January. My phone rings. It’s Sue, a former client I spoke with two weeks earlier. She had called to share she was leading a new firm and they were growing like mad. She needed our help again. I had always liked Sue. We did really good work for her and she’s a straight shooter. I trusted her. We also hadn’t worked together for quite some time and our prices were higher now and our process more finely tuned.

The conversation we had two weeks ago had gone well. I walked her through our process-framed case studies and gave her a proposal for the work with options. This was the green-light call, I was certain of that.

“Hello, Sue. You ready to hire us again?” I joke.

“Well, I wanted to talk to you about that,” her tone sombre.

Uh-oh. I knew she was looking at other firms. I suspected they were all local and generalist in nature. Is she calling to give me bad news?

“Okay…what’s up?”

“I know you can do a good job. But you’re just so much more expensive,” she says. “My firm is young. And your price is just….,” her voice trails off.

To keep the conversation from turning from bad to worse, I jump in.

“Sue, do you mind if I ask you a question? Is your firm trying to be the low-cost provider in your sector?” I know the answer.

“No, of course not.”

“Well, neither are we. I know you’re looking at other firms, and there are some good designers here locally. But let me tell you why we’re worth every penny. Then you can make your decision. And if the decision is not to hire us, that’s fine. We’ll still be friends, okay.”

“Sure.”

“So the first reason we’re worth it is that we specialize in your sector. And this gives us insights that other firms won’t have. Are the other firms you’re talking to going to be able to hit the ground running, or are you going to have to start by explaining in excruciating detail exactly what it is you do? You know me, Sue. We’ve worked together before. You won’t have to train my team. I’ve already done that for you, by working for dozens and dozens of firms in this sector.”

She says something non-committal. At least she’s listening. If I go down, I’m going to go down swinging.

“And Sue, we’ve shown you exactly how we work. I walked you through our process-framed case studies. We’ll take you through each step in that process, just like we do with all our clients. Now, did any other firm show you exactly how their process is going to work, or did they just wave their hands a lot?”

Again, a non-committal answer. But I think I’m making headway, so I keep on. Next, I make a strategic move.

“And Sue, you know you can split this project into two portions. We’re better than anyone on the planet at strategy…” Did I really just say that? “…so why don’t you hire us for the strategic part, and then you can give the tactics to some low-cost (inexperienced) pair of hands?”

I’m doing what Win Without Pitching calls “stepping on the tactical to raise the strategic.”

This has worked with other prospects in the past. Once we finish the strategic component, it’s actually pretty tough for the client to go elsewhere. Their comfort level and their confidence in our abilities is pretty high by that point. But it doesn’t work this time.

“No,” she says. “I don’t want to split this up. All that will happen is the second firm will say, ‘Well, we wouldn’t have done it that way.’ So the results will suffer. And I don’t have time to babysit this process. I’m looking for a firm that can act as my marketing department. I’m too busy to babysit them, or to play referee.”

“I totally understand that, Sue. You don’t want to have to play referee. Our goal is to deliver great results for you, which is why we put together the proposal and price options the way we did. We can handle all your needs.”

“And Sue, there’s one more thing I want to say. I normally don’t do this for very many people, but we’ve worked together before and I trust you. So I’m going to do something I don’t normally do. I’m so confident that our process will deliver great results that I’m going to give you a money-back guarantee. How many other firms are that confident?”

“Not very many.”

“That’s right. So, you want to know whether we’re worth the investment. I understand that. I’ve given you three reasons. First, we know your sector. You won’t have to train us. Second, we’re going to be following a clearly defined, well-honed process. And third, I’m giving you a money back guarantee. If you get to the end of the strategic phase and you don’t think our deliverable will work, then you give us one chance to fix it. If we don’t fix it to your satisfaction, I’ll give you your money back.”

There’s a silent pause.

“Sue, this reduces your risk a lot.”

“Hmm…” She’s thinking about what I’ve said.

“Sue, what concerns do you have?”

“None, I just need to think about it.”

“Okay. That’s fine. Again, I want you to know that I’ll respect your decision, no matter which way it goes. As you think about it, if you have any other questions, give me a call, okay?”

“Okay.” There is a pause. “Oh, I do have one more question.”

“Sure.”

“Well, we had a really good year last year, and I need to get some money off my books. Can I pay you for the whole year in advance with money from last year?”

I laugh. “Yes, Sue, I’ll take your money, no matter what date is on the check.”

She laughs too. We trade some pleasantries and hang up.

Less than a week later, I have a check in my hand for more than a quarter-million dollars. She never negotiated the price.

What just happened?

Maybe she called to tell me I didn’t get the job. Maybe she called to negotiate on price. But she called. And I won the work at a higher price than any other supplier.

Reading this conversation, ask yourself how confident I sound. Pretty darn confident, right? Where does that confidence come from? It comes from the expertise my firm and I have built in our one sector.

And how does this expertise manifest itself? It manifests in expert processes.

And the money-back guarantee is a great way to back that confidence with action. I know that most challenges are no match for the systems we use to develop a solution. Yes, there are outliers, those thorny, horrendous problems that cause my team to stretch and sweat. But I’d asked enough questions to know that Sue’s challenge isn’t one of those. So the risk I’m running in making the offer is very, very small.

Our expertise and the resulting confidence also manifests in expert sales processes. I knew how to help her reach a decision that would be in both our interests. Thanks, Win Without Pitching, for all you’ve taught me.

The Money Back Guarantee Step-By-Step

When I first heard Blair talk about offering a money back guarantee, I was deeply skeptical. No, worse than that, I was frightened at the thought of actually having to write out a check. I’m sure many of you feel the same way. But I’ve been using them for a while now and I’m here to tell you that they’re a lot less scary than they sound. I’ve made this offer three or four dozen times, and I’ve closed a fair share of those and no one has yet to ask for their money back.

I urge you to use money back guarantees. They’re incredibly powerful. The firm that offers them exudes confidence. And that’s exactly what the prospect is seeking. At the end of the buying cycle, buyers need reassurance. Many of your prospects don’t buy what you’re selling very often, so they’re unsure. They need to understand that you represent a safe choice. They need confidence. And that’s exactly what a money back guarantee provides. You’re offering to take their financial risk down to almost zero.

The Components

First, only guarantee the strategic portion of the engagement. It’s too easy for the tactical details to go sideways. When I was talking to Sue, that’s what I did, guaranteed just the strategic portion.

Second, you have to require the involvement of the principal. They can’t disappear while you’re doing your work, foisting you off on some low-level person with no power and no vision, only to pop back in and say, “Well, that didn’t work. I want our money back.” I didn’t require this of Sue, because I knew that she would need to be deeply involved in our process. That’s the way she works.

Third, the less “fine print” you have the better. So, no caveats, no exceptions, no escape clauses. This should feel like a handshake deal, not like one where the lawyers have to redline every clause. This is where you need to have the courage of your convictions. The only thing I told Sue in this regard was one minor detail: if it’s wrong, you give us one chance to get it right. But there was no other fine print.

Fourth, there needs to be a limit of some kind on the guarantee. Typically it’s a time limit. The guarantee can’t go on forever. This was implied in my offer; our strategic offerings only last a few months.

Fifth, give them a range of options. “We’ll get to the decision point. Then we can decide to proceed, or we can decide to stop, or we can decide to stop and I’ll give you your money back.” This fifth point is not strictly necessary, but it’s a more realistic representation of the possible futures than just: “You get your money back or you don’t.”

How to make the offer

When it comes to making the offer itself, here are some tips:

  • Make the offer to one person, not to the whole room. This will be the highest ranking person at the prospect company.
  • Look that one person in the eye. Focus on them. Smile. You want to humanize this moment.
  • Slow down. You’re making an incredibly important point. Your audience should sense the room lights dim and the spotlight on your face grow brighter.
  • Tell them that you don’t do this for everyone. (That’s true, isn’t it?) They’ll feel special.
  • Frame your offer as a way to reduce their risk. You can call it “financial risk” or just “risk,” but you want to highlight the benefit for them.
  • Be confident. Exude trust and power, even if you’re shaking on the inside. This kind of offer is the mark of a supremely confident professional. It won’t work if you telegraph your doubts through tone of voice or body language. Don’t mumble. Speak up.
  • Place your offer carefully into the flow of the meeting. You probably don’t want to lead with it. Wait for the right time, and once you start, don’t let anyone interrupt you. Once you make the offer, pause. Let the silence stretch. You want to sear this moment into their memory.
    Then ask a strategic, high-gain question. The one I asked Sue was a variant of this one: “How many other firms are so confident that they can deliver outstanding results that they’re willing to guarantee their process?” You want to distance yourself from the competition.
  • Practice by making the offer to a few “gimme” prospects first. These are the prospects that won’t ever take you up on it, or where the cost of failure is so low that you could afford to pay them back. These types of situations are low risk for you. In using these as practice, you’ll learn what it feels like to make the offer, how the words sound coming from your mouth, and what types of responses are typical.

What could I have done better?

Thinking back over the conversation I had with Sue, there are some things I could have done better:

  • I should have sent her an email right after our conversation with the guarantee spelled out. This would have hammered home the point.
  • I probably shouldn’t have spent so much time questioning my competition. I was trying to draw distinctions, but looking back, I feel I might have overdone it.
  • I could have been much more clear about the three choices: if you don’t like it, we get a chance to make it right, in which case we’d proceed. But if we can’t fix it then we can decide to stop, or we can decide to stop and I’ll give you your money back.

That’s okay. I’ll do better next time.

Did Sue take me up on that offer of a money back guarantee?

We recently wrapped up the strategic engagement portion of the project with Sue. I had all 8 members of her leadership team in the room as my team and I walked through our findings and recommendations. At the end of the meeting, we do what we always do: ask them to fill out an NPS (net promoter score) survey. We got 9s and 10s from everyone, so our NPS score is 100%.

The next day I came into the office and sent Sue an email.

Sue,
I neglected to say one thing in our Monday meeting. I doubt I actually need to say it, but just in case, here goes:
Do you remember the sales conversation we had at the beginning of the year? That’s when I offered you a “money-back guarantee” on the strategy portion of our engagement.
Well, the strategy is set, so if you want your money back, now’s the time to ask.
Otherwise, full speed ahead.
David

Her response was simple:

David
Full speed ahead
Sue

By Win Without Pitching Coach David Chapin

MANDATORY READING – If new business wants more respect, it needs to become more proactive

Written by ChuckMeyst2015 on . Posted in Blog Posts, Business Development

Editors Note:  This passed my desk today and I shared via LinkedIn and FaceBook with the headline:

My God, this man has got it! And it took an outsider to make the point so simply clear. Attention all New Business Coordinators. Either step aside or learn what it takes to do new business as it needs to be done. (And if  YOU are a NB person take heed. And if you’re an agency owner/Manager, please pay attention).

There’s recently been discussion that the industry needs to support its new business managers more. As one myself it’s no surprise that I whole-heartedly agree with the sentiment: new business for any industry has a direct impact on a company’s growth, and there is nothing more important than this both culturally and financially.

However, I can’t help feeling like the role of new business has potentially lost its stature because we, as new business professionals, have let it happen.

I have only been working in the advertising industry for a few years – before I joined ad-land I worked in various ‘hard sales’ roles. And as an outsider looking into the industry, its definition of new business wasn’t really what I regarded as new business.

To me, new business has always leaned more towards a sales role than anything else. It has always been about developing narratives to persuade your target market that your product or service is the hand-in-glove fit for them and the answer to all their challenges. It is the proactive searching of the market to find clients that will benefit from your offering and then once you find them, building that relationship with them.

The admin has always come second for me. Don’t get me wrong, what comes after the initial contact is still absolutely critical to successful new business. But the hierarchy should always be proactive first, reactive second.

This is how it works in most new business roles, so why should it be different in advertising?

I think perhaps that new business departments or individuals have let their role become devalued. In far too many cases, the person responsible for new business in an agency is seen as the person who expertly answers the incoming RFIs or puts together the credentials document before an important client pitch or meeting. This isn’t new business; it is inbound admin at best.

The concept of waiting for briefs to come in is something that really grinds with me. In years gone by, the bigger, more established agencies have had the luxury of RFI after RFI landing in their inbox.

However, with the changing media landscape – as well as more and more clients looking to a wider range of agencies – this luxury is likely to become a rarity. Agencies can no longer afford to have their new business teams or individuals as in-bound sales or admin people.

The process of building relationships and actively trying to speak with prospects has become a lost art within the advertising industry.

‘Content is king’ is something that you hear at every new business breakfast, seminar and networking event. Yes, it absolutely is, but what is more important is what you do with that content. Posting content on your website or social channels is the easy part, but if we are honest it requires little effort.

Proactively shoving that content under the nose of your number one new business target in an engaging way is much harder. It can be easy to shy away from the harder work when it has become accepted wisdom that new business is more inbound then outbound.

If we want new business to be truly considered at the top table as a key cog in the machine – if we want our voices to be heard – then new business needs to stick its neck out. It needs to fight really hard to become a respected part of an agency’s makeup again – not by answering RFIs, building decks and getting good coverage in the trade press but by becoming more proactive, more outward facing and – essentially – more like sales.

It needs to take responsibility for driving the agency forward and making sure that every single person in the building comes on that journey.

Only then will us new business managers get our voice, one hustle at a time.

Jack Williams is head of new business at Atomic London

Good Business Comes From The Top Down

Written by ChuckMeyst2015 on . Posted in Blog Posts, Business Development

Intro: I responded to Paul’s post below with this comment: “You have painted a very disappointing picture of our industry but it explains why so many agencies struggle investing in the expenses of business development.” Meaning – with margins so thin, I could understand what has long been a reluctance within agencies to invest in agency business development. Paul responded: “I didn’t mean it to be disappointing. It is merely a statement of how things are and have become under the holding company model.” I’d suggest it’s disappointing that it’s come to this for the fine agencies within the holding companies.

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After reading about Sir Martin Sorrell’s resignation as CEO of WPP, I decided to look at the composition of boards of all the major holding companies.  It was a revelation, but not surprising.

First, let’s understand the function of boards.  They are there to set policy and priorities for a company.  This includes a multitude of items from finance, dealing with the financial community, personnel policy, compensation, moral leadership and many other areas of policy.

Looking at the members of each of the holding company boards reveals what we have known for a long time.  The holding companies, despite recently establishing cross-function agencies to pitch and handle major accounts which report directly to executives of the holding companies (e.g. WPP’s Red Fuse which was established to handle Colgate worldwide is an example).  The holding companies are definitely not advertising companies.  Not even remotely.  They are financial firms. And most have
no board members who know anything about advertising, communications or people management.

All the major holding companies have similar boards.  They are made up of investment bankers, fund managers, an occasional senior executive from an advertiser.  With the sole exception of Omnicom, there is not one single board member with an advertising agency background.  There are no real human resources professionals (“our assets go down the elevator every evening”).  Although one company has an executive recruiter on the board, but that person was not an advertising recruiter.  All the emphasis appears to be on making and managing money.

The irony is that before the holding companies came along, there were plenty of agencies which were highly profitable and extremely well managed.  Just look at Grey, Bates, even Deutsch.  They were money machines.  But no longer.  The holding companies have stripped away their essence, leaving almost all the big agencies the same.

No wonder things are as they are.

There is no emphasis on the work.  There is a lack of creativity.    Salaries are out of line with similar industries (entry level salaries are particularly poor so that agencies rarely attract the best and brightest young talent).  There is tremendous employee turnover. Salary freezes are the rule rather than the exception ; raises are delayed, forcing talented executives to look for new jobs in order to make a livable wage. Profits in advertising are actually low compared to other businesses.  Morale at most of the major agencies is, at best, only fair.

I have no sense that the holding companies are dealing with any of these issues. Rather, what we hear about is dealing with Wall Street.

It is time for the holding companies to encourage creativity among their agencies.  P&G and Publicis demanding that their agencies work together to make a better product is laughable since threats don’t make good ads.  While working well together is admirable, good work comes from a strong self-positioning, employee belief in the work and the willingness to fight for it.  Doing better work comes from not being afraid of clients and fighting for what is right rather than simply giving in because it might affect the profit level to be turned over to their holding companies.  BBDO is a perfect example of this.

It is time for the silos to end.  And that can only happen when digital and above the line are all under the same roof and all working together.  Almost every agency president I have talked to agrees with this, but being able to affect this change is complicated by the holding company ownership.  All it takes is for there to be one appointed leader who controls the entire process and has both the authority and responsibility to make it happen.

Agencies are managed for profit, but they would be more profitable if they were managed to encourage growth and creativity.  This includes fighting back against the procurement departments of prospective clients; agencies must be allowed to make a reasonable pre-tax profit which will fund growth. It means turning down accounts if a reasonable profit is being denied to them.  But the holding companies are looking at additional revenue at any cost – even losing money on new accounts. By procurement insisting on lower costs, they are precluding their agencies from pushing back for better, work – the holding companies demand keeping business at all costs.  I know one story where an agency was losing money on an account and resigned the business, which actually made the agency more profitable.  The president of the agency had his wrists slapped by the holding company CFO and was told it was beyond his scope of responsibilities (despite his contract called for maximizing the agency’s profits).  The company wanted the revenues and actually didn’t care about the profits.

It is time to address the excessive turnover among advertising employees.   If people are the principal assets, they should be treated that way.  Training programs for juniors are a thing of the past.  There is  some training for very senior executives, but these represent an elite few.  Employees cannot obtain timely promotions and rotations.  Once upon a time not so long ago, these were built into agency operating philosophy, but now that clients can dictate who can work on their business and how much they get paid, this is also a thing of the past. Constant wage freezes, in order to generate and maintain profit for the holding companies, forces aggressive and high-functioning employees to leave.

The list goes on.

Today’s post courtesy Paul Gumbinner, President of The Gumbinner Company, executive recruiters for advertising.  www.viewfrommadisonave.blogspot.com 

The Four Criteria of New Business Success

Written by ChuckMeyst2015 on . Posted in Blog Posts, Business Development

It’s not your job to win more new business says today’s Guest Author Blair Enns

It’s your job to win the right new business. That means engagements that meet the following four criteria:

1. A proper-fit client that takes you one step closer to the strategic vision of the expert firm you are building
2.At high profit margin
3.With low cost of sale
4.And your firm positioned to have the greatest possible impact

Let me unpack each of these criteria and then give you some options for improving your new business performance across all of them.

Proper-Fit Clients
Whether you acknowledge it or not, you reinvent your firm one new client at a time. You should have a vivid and wildly important goal off in the distance that you are navigating toward. It’s a detailed vision of the expert firm you are building, and each new client is a step toward or away from that vision. No vision means no standards about what client engagements it makes sense for you to take on. A vision that is continuously compromised by a leader that keeps making exceptions for clients because of revenue or “the portfolio” is ultimately hollow and dispiriting to the larger team. A top-down vision is required and each new client engagement should be a measure of how serious the firm is about that vision. The vision exists or it doesn’t. It’s meaningful or it isn’t.

High Profit Margin
Profit margin is like power in the relationship in that it only diminishes with time. The new business person or team sets the profit standard with the very first sale, properly expecting that it’s all downhill from there. (The only question is the steepness of the slope.) Winning business on price while hoping to make it up later, or on volume, is not a valid approach for an expertise-based business. Profit diminishes as you move from the expert practitioner position in the relationship to partner status and then quickly to vendor. The slide is inevitable so it’s your job to start high with the first engagement at a price and profit level higher than the overall average you’re targeting.

Low Cost of Sale
Of course nobody wants higher costs than necessary but a low cost of sale is vital because it signals other more important things. Are you seen as the expert practitioner or just another vendor? Vendors have high costs of sale, low profit margins and lack the high ground required to challenge the client’s thinking. Your cost of sale is a barometer of the relationship and its power dynamics, which will ultimately play out in the engagement itself, impacting your ability to create value for the client.

Positioned for the Greatest Impact
The sale is the sample of the engagement to follow. To have the greatest impact on your client you must be allowed to lead. If you are not allowed to lead in the sale then you will not be allowed to lead in the engagement. That’s why winning a pitch or in any way winning new business while playing the polite, compliant rule follower is not good enough. You cannot be a good soldier in the sale, dutifully following orders, and then suddenly try to become the general in the engagement. That’s the definition of a coup. Rather, you should be navigating the sale in a way that sees you seamlessly take the lead, with the client allowing you to move naturally and unthreateningly from the vendor position to the expert practitioner position.

That’s what they teach in Win Without Pitching.

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Facial Hair, is That a Consideration in Your Agency Search?

Written by ChuckMeyst2015 on . Posted in Agency Search Tips, Blog Posts

If you’re like me, you spend a chunk of time looking at agency websites. Many are now both beautiful, informative and compelling. I remember the early text-only centered column display sites. Today the format is clearly hi-fi wide-screen, many with short-form videos playing under superimposed copy and credits. But I’ve also noticed a resurgence of a look – the look of facial hair.

Miss Lilly Newfy

I suspect it’s happening everywhere, but in the agency world not too many years ago, men were close-shaved, wore double-breasted suits with padded shoulders, and sported equally close-cropped heads-of-hair. Facial hair and beards were for old men or homeless. I’m wasn’t surprised when today, as I scrolled the Team page of a 34-person agency, there they were – all ages with full beards, mustaches, goatees, bushy sideburns, and neatly trimmed Ryan Seacrest stubble. I was heading to the bottom when a woman appeared, and you guessed it, she was clean-shaven!

Today’s styles everywhere tend to be casual, so I’m also surprised by the tight, almost pinched look being sold as todays’ suits for men. What’s a gent with some paunch to do? How about cargo pants, a handsome belt and a great UNTUCKit band-collar wrinkle-resistant shirt.

Chemistry or get-along-ness always plays a deciding factor in the selection of a marketing partner, and “looks” is an important ingredient. Is it a factor in your search?

Note: If you happen to be searching for a new marketing partner, you’ll encounter hair at AgencyFinder, but only after you identify some of the best agencies in the world using digital fact-based and consultant-assisted identification. If you’d like, sign in here and start a free search: http://www.agencyfinder.com/advertisers/advertising-agency-search/

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Facebook-Cambridge Analytica Shows The Importance Of Data And Trust In Advertising

Written by ChuckMeyst2015 on . Posted in Agency Search Tips, Blog Posts

Editor’s Note: This era of digital data has fostered the concept of data scraping, or as Joshua comments, “Companies are offering agencies new data all the time but as industry players we are increasingly saying no because the way the data is obtained or used doesn’t sit well with our values and principles.” There’s a big difference between privately searching in a database for prospects that match your search requirements precisely,  versus publicly posting your opportunity only to experience a flood of prospects claiming to be a perfect fit. You can’t blame salesperson mentality, but the first process is precise; the second subject to question, audit and generally extra work. 

Today’s column is written by Joshua Lowcock, executive vice president and chief digital and innovation officer at UM Worldwide.

The advertising industry often talks about trust – trust between advertisers and their agencies, trust between advertisers and media owners. But very little is publicly said about the trust placed by the public in the advertising industry.

Individuals and the public at large have a right to demand and expect that advertisers, agencies, media and platform owners will treat them with respect. In digital, with the wealth of data available to marketers and the pressure to squeeze every last ounce of efficiency out of media dollars, there are always a myriad of companies offering new data sets.

Companies are offering agencies new data all the time but as industry players we are increasingly saying no because the way the data is obtained or used doesn’t sit well with our values and principles. As a result, these companies (often) quickly disappear. Data collected without clear permission or applied in inappropriate ways has no place in the advertising or media industry.

Data-driven marketing is an important part of our industry. If performed with transparency and respect for the trust the public places in us, it has the power to not only make our industry better but help advertising fund new content, services and tools that contribute value to society and the economy.

But if we betray the trust the public places in our industry and don’t treat the public with respect then we don’t deserve the right to use the public’s data. Zuckerberg acknowledged this in his post on Wednesday in response to the Cambridge Analytica situation: “This was a breach of trust between [Aleksandr] Kogan, Cambridge Analytica and Facebook. But it was also a breach of trust between Facebook and the people who share their data with us and expect us to protect it.”

Cambridge Analytica betrayed trust on many levels. Facebook was too trusting and was blindsided by how sophisticated the data industry has become. The lesson that can be learned for all of us is that data, like all things that can empower so much good, can be weaponized for bad. That’s why phrases like “computational propaganda” and “weaponized data” are entering the lexicon.

As an industry, we risk letting these negative terms become the brand for data-driven marketing unless we collectively stand up and say that Cambridge Analytica’s behavior is unacceptable and has no place in marketing and advertising. Cambridge Analytica does not represent the advertising industry. Its behavior and companies that behave similarly have no place in this industry.

What the coming weeks and months should remind us all is that, as an industry, we need to always ask the tough questions about data. Where and how is it collected? Has it been obtained appropriately and with permission? Is it compliant with privacy principles? Is it legal? And, just as importantly, is it ethically and morally right to use the data in an intended way?

The line between good and bad use of data is the moral, ethical and value compass of each and every individual working in this industry.

In the end, though, it all comes back to trust. We need to ensure that when the industry talks about trust and transparency, individual consumers are included and considered as important to the trust equation as agencies and advertisers. The more we include consumers in the trust equation, the better it will be for the industry.

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Power Company Keeps Lights on for Millions in the East – They Desire a New Agency with Electric & Public Utility Experience.

Written by ChuckMeyst2015 on . Posted in Pitchcast, USA/North America

We’re an Eastern utility and energy nuclear company (power company) dedicated to providing power to millions of state residents. Our goal is outstanding customer service and customer satisfaction, while providing power for prices well below the national average. We’re looking for an agency with full-service capabilities for our general market. Some of the services we’re seeking include: Media planning & buying, creative development, account management, digital media expertise, creative and media trafficking, campaign measurement, marketing research, and PR. More specifically we’re looking for an agency that has softer skills such as being business savvy, forward thinking, cost conscious, and utility industry expertise is a plus. Budget $1MM – $2.5MM.

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Just the Sound of the Name is Magnetic – Kathmandu, then Himalayas

Written by ChuckMeyst2015 on . Posted in Global, Pitchcast

This regional intergovernmental learning and knowledge sharing centre serving the eight regional member countries of the Hindu Kush Himalaya – Afghanistan, Bangladesh, Bhutan, China, India, Myanmar, Nepal, and Pakistan – is based in Kathmandu, Nepal. Globalization and climate change have an increasing influence on the stability of fragile mountain ecosystems and the livelihoods of mountain people. Our organization aims to assist mountain people to understand these changes, adapt to them, and make the most of new opportunities, while addressing upstream-downstream issues.

We are seeking an agency to provide branding services. The selected organization will be asked to work in close collaboration with and in support of our Knowledge Management and Communication department to Discover, Develop, Refine and Articulate our brand by engaging a collaborative, comprehensive and data-driven approach. We seek a partner with a proven track record for creative excellence in brand development and execution. We’re looking for past experience in Environmental (as in Green) and Non-profit. Budget TBD

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