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Volume 22, Number 11 (2009)
by Second Wind
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In this expanded issue of The Second Wind Newsletter,we focus on “restarting” ad agency business following a financial downturn. Second Wind Managing Director Tony Mikes discusses moving advertising agencies out of the recession by focusing on client and buyer wants, including brand intimacy, media arts, and brand activation/integration; and reveals tactics for closing new business deals by positioning your agency for competitive advantage, adding “wow to presentations, and learning to ask for the sale. We also discuss: How the traditional full-service agency has evolved to a smaller and smarter model relying on core competencies supplemented by selective outsourcing; why agencies should regularly review and adjust advertising agency traffic and workflow management to meet client demands and manage employee workloads; tips and tactics for mastering “the art of the upsell”—converting current project-oriented clients into full-service accounts; issues to cover in contracts between agencies and full-service clients, and what to address in letters of agreement; using milestone billing as a strategy to regulate cash flow, improve client payments, and enhance perceptions of agency value by making the process more transparent; and five steps to become a more agile, more creative agency in the cross-channel marketing era.
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