This is “3 Takeaways”, Ep 33 – The Ad Agency Positioning Delusion: the RSW agency new business video series where we give you three takeaways to help improve your new business program.
We’ve released our 2019 Agency New Business Report and one thing we know for certain-agencies and marketing services firms like to hear about what their peers are doing to find success on the new business front.
Understandable, because you’re all so busy, you tell us you don’t get to leave your bubble as often as you would like.
So we surveyed your peers to get you intel on all things new business.
Alright, one of the questions we asked agencies in our survey, was “How Unique Would You Say Is Your Agency’s Positioning?”
The results were interesting on several levels.
Breaking it down here: 7% said not unique, 23% extremely unique and 70% somewhat unique.
So essentially, 93% of you out there feel your positioning is unique.
So on its face-that’s fantastic, right?
Your positioning is one of the most important elements of your new business strategy, so you need to make it as unique as possible, and that can be tough to do, and we’ll get into why.
Now, you may be anticipating what I’m going to say next, but, this crazy high number does not reflect reality.
Our entire business world here at RSW revolves around the marketing services industry, and I see multitudes of agency positioning on a daily basis.
I do like the seemingly high-level of self-awareness here, and I do think firms have gotten better with their positioning overall in the last several years-at the very least, understanding how important it is and making an effort to refine it.
But I do think, at the risk of being a bit of a jerk, that there’s a mild thread of delusion running through this stat.
You may think your positioning is unique-odds are, at the very least, it needs work.
So for your 3 Takeaways today, I’m going to offer you an initial litmus test to apply against your current positioning, and ideally you can respond and tell me to stick it, because your positioning really is that differentiating-I would welcome that.
Here’s you first takeaway: Positioning at the top of the funnel is very different than the bottom.
Specifically, your positioning at the top, around awareness and interest, should not be the same at the bottom, during evaluation and the pitch, for example.
I’ve written on this before, but there is a time for storytelling, and top of the funnel is not it.
You don’t have time for it-here at RSW, working for agency clients to drive new business, we have 30 seconds to a minute to break through to a prospect-there’s no time for a story up front.
Which leads to your second takeaway:
Create a 2-3 sentence elevator pitch.
While that may seem blatantly obvious, I can’t tell you how many firms don’t really do this.
I’ll see multiple paragraphs on who they are or what they do on their site or LinkedIn, but no declarative statement on literally who or what they are-a few examples:
We are a digital firm focused on destination and tourism.
We’re an experiential agency dedicated to multicultural and advocacy issues.
Pick any description you want, but too many firms aren’t able to do it or just don’t do it.
Force yourself to write a positioning statement that is no more than 3 sentences.
Not only will it be a good exercise, but it will help clarify a more robust positioning that you would use further down the funnel.
And your third takeaway:
Find someone outside your firm to review your positioning.
I get it-agencies, and businesses generally, are steeped in their own world, of course, you become very close to it, so close that it gets very tough to be a dispassionate observer when it comes to your positioning.
Ideally, find someone that inhabits your prospecting world, could be a friend.
Or I’ll bet all of you watching have a relationship with at least one current client that would be willing to give you honest feedback.
OK ,that’s it for today, thanks for watching 3 Takeaways Ep 33 – The Ad Agency Positioning Delusion.