All agencies used to love to cite long term relationships. Why Not. Proctor & Gamble, Unilever and GM have relationships that began in the 19020’s. But Cinderella is gone.
Advertising agencies relationships are getting shorter in tenure these days.
A clear trend in client-agency relationships is to terminate those that under-perform. In 1984, the average client-agency relationship tenure was 7.2 years. By 1997 (13 years later), that number declined by 25% to 5.3 years. Today the average client-agency tenure is thought to be less than three years according to the Bedford Group.
In 1984 when I was transferred from JWT Toronto to JWT Chicago there were a lot of long term relationships in that office. The relationships with clients could be decades long and people worked at agencies for decades. I know that is true as I was trained by gray hairs and their tenures were decades long.
That is not so true these days. I wonder if there is a correlation between the longevity of client relationships and agency employee tenures. Could it be as simple as that? Continue reading
How Long Does it Take for Agencies to get New Business? Longer than you want it to. Yes, New Business can take a very long time but most agencies don’t want to hear that.
The last thing that agencies have in New Business is patience. Patience is what they tell clients when they are disappointed with the results of a campaign. These things take time agencies counsel. Be patient they plead.
I got an e mail from an agency New Business leader the other day. He was trying to do a little research on the typical sales cycle for advertising agencies to close New Business. He was encountering some internal resistance to his belief that New Business isn’t transactional selling and takes time to develop. Continue reading
I know all about talent. How to be surrounded by the best, the smartest. The ones that make you feel dumb and inspire you to strive to be better. You can fill in your rest.
I often sat in my new office chair at an agency looking out at the view from a skyscraper or office tower when I was hired at a great shop or transferred to another office within the network. I had a smile on my face just with the achievement of being hired.
Often the Principal of the firm would take the time and stop by unannounced in my office the first few days after I started.
They were polite and smiled and basically told me you are lucky to work here and implied through unsaid words that I should make sure I didn’t screw it up. I didn’t forget that lesson. Then the agency continued to train me. Continue reading
Yes You Don’t Know Me. Painful.
I went to a networking event where I have spoken before. Around the time the iPhone was launched in 2007. Ancient history.
I didn’t know as many people as I thought I would.
None of the regulars came up to me and said “Hi Hank, how are you.” No strangers came up to me and said “I’ve heard of you.” I was alone in a crowd.
I suddenly recognized that I was a stranger at this event because I hadn’t been there in a while. Continue reading
I attended a networking luncheon the other day. I do like to network.
One of the panelists came over to me prior to speaking. “Glad to finally meet you,” he said. We never had met before but he knew of me. Maybe my content floating out in the New Normal. I do work at that.
“Likewise my friend,” I responded. Continue reading