Agency Specialization and New Business-RSWUS Video
We’re focusing today on agency specialization-a hot topic and an important one.
Video Transcript: I’m Lee McKnight, Director of Business Development for RSW/US, we’re a new business We are a full service, outsourced business development group that works solely with Agencies win new business by finding qualified leads, setting meetings on our agency clients’ behalf, better positioning them in the market, and helping them move closer to close.
We’re talking briefly today about the results from our latest agency new business survey, the 2013 RSW/US Agency-Marketer Business Report. You can download it free from our site www.rswus.com, and the link will also be at the end of the video.
The main question we asked Marketers: How much is necessary in order to win the hearts and minds of Marketers?
1) We started start with a look at how Agencies view specialization:
-62% of Agencies state that specialization is more important today than it was 3-4 years ago.
2) We next asked Agencies if they have a specialty, defining specialty however they choose.
83% of agencies said “yes”
3) Digging a little deeper, we next asked if that was an industry specialty (healthcare for example) or a media specialty (e.g. digital), or both.
84% had an industry specialization.
4) When next asking how many industries they specialized in, interestingly, 84% of agencies said two or more areas of specialization.
5) At this point in the survey, we turned to the Marketers for their thoughts on Agency Specialization.
77% of Marketers said it’s either somewhat or very important to hire an Agency that has some degree of specialization.
6) And one of the most interesting questions of all… – What do Marketers think Agencies need to dedicate to a specialization in order for it to “qualify” as a specialty.
59% of Marketers state that Agencies only need to have 50% or less of their Agency focused on their category in order to be considered a specialist in their field.
At the end of the day, we believe that if you can make a Marketer feel like you know their category (no matter your level of experience in their space), they will feel good about you.
A winning agency will have tailored their presentation to the Marketer, showcased their knowledge of the space, and shared smart thinking applied from the Marketer’s and other industries, essentially making the prospect feel like the project is already ramping up.
Related to Agency Specialization and New Business-
Your Fickle Marketer-Agency Relationship (Warning-Your Head May Explode)
Marketers’ Perspective Of Agency Specialization, March 2013
Adland’s New Era of Specialization
Post by RSW/US Director Of Business Development Lee McKnight Jr