Creating and maintaining agency new business is often harder than it should be because one key ingredient is often lacking.
Positioning is the foundation of any agency’s new business program. It is also the area that many agencies have not addressed because of either procrastination or, more likely, their unwillingness to make the difficult business decisions.
“Contrary to common belief, all agencies have pretty much the same basic capabilities, and processes. They all claim to have proprietary tools, and they may have different labels for what they do, but the approach is essentially the same at big or small agencies.” - Avi Dan, Forbes contributor who has 30 years of leadership experience with top global Madison Avenue agencies.
Without a differentiated position, ad agency new business is much harder than it needs to be... I know how difficult agency positioning can be but, I also know that a lack of positioning creates even more hardships.
First and foremost it makes your new business efforts, the lifeblood of the agency, easier.It brings your agency’s business into focus. You will know who to hire, what trade publications to read, what events need to be attended and where to find and engage prospects online.It will allow your agency to stand out from among the competitors. It is much faster to build awareness and create appeal with the clients that match up with your agency’s core strengths.You can become positioned as an expert which allows you to price your agency’s services at a premium.Positioning also allows you to be more selective about the clients you choose.It allows agencies to control the client/agency relationship from the ontset.It leads to a better pitch-n-win ratio and more often winning new business without having to pitch. New client accounts will be more profitable from the beginning.Agencies that are well positioned are not forced to chase new business and therefore, more of their time and effort can be given toward deepening their expertise.
Agency owners must understand there are many benefits that come with the hard decisions about positioning: