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Tuesday, June 17, 2008
Agencies Need a Position For New Business
Ad agencies need positioning because prospective clients have lots of choices-and if you don't stand out, you are going to struggle with new business. Positioning is what differentiates a brand in the customer's mind. It is how you go to market. Without a point of differentiation you will find it difficult to effectively market and promote your agency and you will struggle to succinctly define your agency and what it does.
"if you can't say why your brand is both different and compelling in a few words, don't fix your statement, fix your agency."
Why does your agency brand matter to your target audiences? The problem is, answering such a simple question isn't that easy. One way to approach it is to think about why your agency brand matters to your target audiences. I've taken a number of agencies through a series of steps to discover what makes them the only. It is a discovery process that is a journey to the core of their business. Remember, you can't promote your way to being the one and only you have to start with it. Without a point of differentiation you will find it difficult to effectively market and promote your agency and you will struggle to succinctly define your agency and what it does.
Clear positioning provides:- An increase in your agency's relevance
- A direction for how your agency spends its time, money and resources
- An understanding on the types of persons to hire
- A better new business win ratio
- A strong appeal to a select group of prospects
- Prospects that line up with your agency's core strengths, what you do best
- A broader market area
It is possible to have prospects who seek you out when they know who you are and what you stand for. Trying to appeal to everyone appeals to no one.
Michael Gass is an agency new business consultant, primarily to small and mid-size advertising agencies. Michael works with marketing communications firms to create a more clearly defined focus and differentiating business strategy that will give them a competitive advantage for new business, a higher-profile reputation, and an improved ability to attract and win the clients they really want.
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