Coming off the Small Agency Conference and Awards, Ad Age wrote a piece called Why Big Brands Choose Small Agencies.
It’s a series of quotes from agency principals on why smaller agencies are doing more work for bigger brands, and while none of them touch on new business directly, the article should stand as a reminder of the opportunities out there waiting for your firm.
But first, a few of my favorite quotes:
Smaller agencies are more likely to move at the speed of the marketplace
“I think we really like the ability for our smaller agencies to move quickly and move at the speed of the realities of the marketplace. And we really are attracted to that because we want to move at that same speed.”
—Andrea Brimmer, chief marketing and public relations officer, Ally Financial
Smaller agencies have niche expertise
“I think you can find agencies with an expertise that you might not, might be difficult to find at a large agency.”
—Erica Fite, co-founder and creative director, Fancy
Smaller agencies mean less bullshit
“You can be attractive to a bigger client simply by offering them big agency talent without the big agency bullshit.”
—Katie Keating, co-founder and creative director, Fancy
I saved the best for last. The majority of our clients are small to mid-sized agencies and there really is less BS.
But that new business reminder I mentioned?
One point not touched on in the article’s quotes: the fact that smaller agencies are typically hungrier for the business, and it shows.
Larger agencies don’t typically have to fight as hard on the new business front, although with smaller agencies taking more business from bigger brands, that’s changing.
And it means your firm has to be ready, specifically in two ways. The first is summed up well in a Hubspot article on the same topic, Why Big Brands Hire Small Agencies:
This creates more opportunity for smaller firms to pitch and win more tightly defined, one-off projects, and if done well, to leverage this initial project into more work with the brand. But that requires that firms be experts in properly scoping projects and project management. You need repeatable, efficient processes that can be used to meet tight deadlines and make this work profitable for your agency.
And the second, (you know what’s coming)-you have to stay on top of your new business efforts. The cobbler’s children story still applies to most of you: clients have to come first, so new business comes last.
Don’t let that happen, there are some game-changing opportunities waiting out there.