We asked Marketers an open-ended question in our recent 2015 New Year Outlook Report, “what is the most troubling trend you’re seeing among Agencies today?”
They didn’t hold back, and right or wrong, the comments were eye-opening.
One of the Marketer trends we’re seeing is a move back towards agency consolidation and from a new business perspective, that’s an opportunity for your agency.
But apparently, agencies are overpromising on what they can deliver. Per one marketer in our report:
One-stop shops that bill themselves as such but really don’t have those capabilities.
It’s fairly common for agencies to say “we can do that” and then figure out how after the fact, but you better be sure you can actually deliver.
Taking it a step further, don’t forget there are many agencies going after your prospects and your suite of services can be a double edged sword:
It is good that they all can do everything, but it makes it hard to differentiate among them.
Maybe you can do it all, but always approach your new business effort from the mind of your prospect, do you look like every other agency?
Bigger picture, competition is fierce (79% of agencies in our survey said the business of advertising is much more competitive today than it was 3-4 years ago) and while sobering, the below quote needs to stay top of mind:
Lack of value add. In a desktop publishing world where freelance artists are cheap, research can be home brewed, and writers are plentiful – what role does the traditional agency provide for small to medium sized companies?
This mindset is unfair, but it’s the reality for certain marketers and certain prospects, quite possibly many of your prospects.
That’s why new business has to be a priority, and every prospect touch needs to provide value in some way.
The ongoing mechanics (e.g. ongoing prospecting and content generation) are important, but equally important= how your prospects view your agency.
Don’t make it harder than it needs to be-you’re solving business problems and challenges for your clients right now.
Your prospects have the same challenges-use that to your advantage.