How can agencies stand out as we enter another unpredictable and challenging year?
By making new business, everybody’s business…
It’s tough out there. The market is challenging and unpredictable. 2023 was arguably harder to predict than ever before and its all to play for as we enter 2024.
Although new business opportunities continue to ramp up, there’s no doubt that we’re still in a state of permacrisis.
In the classic way that we know the brands which invest in their marketing and spend through economic downturn come out on top, the same applies to agencies. It’s imperative that they continue to invest in new business and marketing strategies, agency brands and talent. The power of agency brands is not to be underestimated.
What is the clear solution for agencies wanting to win big?
We believe that the agencies who will come out of 2023 and into 2024 the strongest are the ones where everyone takes on a growth mindset, all employees are fluent on the agency proposition and they are all passionate about the agency and its values.
Essentially, the best and most successful agencies make new business, everybody’s business.
New business should not be the sole responsibility of the new business and marketing team or the senior leadership team but that of every single person in the agency, from the Office Manager to the Head of Production who should be fluent in the agency’s proposition and values.
The power of a strong agency brand: employees become advocates
When an agency builds a strong culture with a clear mission which employees are proud of, the team will naturally become true advocates of its values and brand.
We believe a strong agency brand is defined by 2 pillars; the defining pillar: how an agency defines themselves via language, look and feel; and the activating pillar: how an agency manifests that proposition in its culture and everything it does, its people, its marketing channels and its partnerships.
And then, it’s about making sure employees know what the defining pillar is and how they are a part of the activating one.
Does everyone genuinely know the elevator pitch to bring out at any opportunity? Do they have access to the main creds if they need them? Are they involved in activating the marketing strategy?
Ultimately, are they incentivised to be part of the activating pillar and growth of the agency?
It’s about cultivating internal advocates with a growth mindset for the agency.
Thinking harder and smarter about how everyone can add to the bottom line going forwards is ultimately how to make new business everybody’s business.
Only then, will agencies make it out on top of the agency landscape as the industry continues to navigate the challenging times which lay ahead.
About Steph:
Stephanie Nattu, Business Director at Creativebrief, heads up the Account Management team, running client reviews and providing guidance to senior marketers in both brands and agencies.
Recently, she has been leading our series on the Power of Agency Brands, interviewing agency leaders on what makes a strong agency brand, how an agency can build one, and what we can learn from leading agencies.
To discover agency leader’s secrets, insights and future plans for their own successful agency brands, check out the series.
Looking to build your own agency’s brand and make new business, everyone’s business in 2024? Get in touch about agency memberships.
