Page 31 – Winmo

Commit to Change Check-In: Progress in Ad Agency Diversity

September 10, 2020in Agency New Business, Breaking Newsby Samantha Stallard

You know the feeling of outrage fatigue. It’s a mix of anxiety and exhaustion, coupled with worry and sympathy. People can experience overwhelmed compassion, even when watching a crisis play out from a distance, through the 24-hour cable news cycle or a never ending Twitter scroll.

There’s plenty to be outraged about, but the mistreatment of black Americans is high on the list. This summer was a continuous cycle of protests and demands for action. We read about how to be anti-racist. We have hard conversations with our parents, friends, and co-workers. But more has to be done.

Consumers have called for advertisers to take a stand and commit to change. Today, companies aren’t punished for being political, they’re punished for being silent. We expect brands and the agencies to use their influence for good, both in their corporate messaging and internal representation.

Cue 600 & Rising.

The nonprofit aimed at promoting ad agency diversity was founded in June and kicked off an industry-wide conversation around race — calling for every major ad agency to release diversity data and #CommitToChange. Then, Publicis, Wieden+Kennedy, R/GA, and other agencies responded honestly, revealing the beige state of their employee rosters. They reevaluated their diversity efforts through promotions, new hires, and the creation of inclusion task forces and committees.

After its own internal struggles in August, when president Nathan Young stepped down from the nonprofit after controversial tweets, similar organizations rose to keep momentum. From there, Media Frenzy Global and Obviouslee Marketing launched Act in Solidarity, a 30-60-90 day plan challenging agency leaders to follow through with their promises from June to diversify.

These long term check-ins are necessary for growth. Agencies are infamous for putting their clients on a pedestal while often ignoring their own organizational needs — and outrage fatigue can’t stop progress.

Some agencies have honored their promises to change:

The Martin Agency: Named Danny Robinson its first Black Chief Creative Officer.
BBDO: Appointed its first chief diversity, equity and inclusion officer.
Dentsu Aegis: Appointed Christena Pyle of Time’s Up its first chief equity officer of the Americas.
Havas: Appointed its first North America Diversity, Equity, and Inclusion Advisory Committee.
DDB, MiQ, and Barkley: All currently seeking diversity and inclusion execs.
Others have tapped consultants to improve the hiring process and overall company culture.

Another organization, 100 Roses from Concrete, manages requests from agencies to fill diversity and inclusion roles, as well as train employees who have been newly appointed in those roles. Even with internal promotion from interested employees, diversity departments are a brand new venture in which training and deploying staffers to be truly effective will take time.

Some leaders fear that pressuring diversity and inclusion executives to fix systemic issues is problematic. By hyper-focusing on one person to solve a company-wide problem, other employees may defer responsibility, making it impossible for diversity officers to succeed. That’s why some agencies, like Innocean and Muhtayzik / Hoffer are creating internal committees to create, and promote, new policies.

While top-down pressure for change could slow into Q4, it’s up to consumers, employees, clients, and outside organizations like 600 & Rising, to continue to hold agencies accountable.

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Round-up of August’s Big UK Spenders

September 9, 2020in Ad Sales, Sales, UKby Marilyn Mead Brutoco

As brands get back to business, there were some BIG digital spend increases in August. These span across key sectors such as technology, entertainment and FMCG. Here is our round-up of big spenders you should have on your watch list!

Tech and entertainment brands such as Sky, Apple, Vodafone and Samsung collectively upped their direct advertising spend to over £32M. In August, Sky increased its spend to £11M.

FMCG brands including Procter & Gamble, Unilever and Boots have also enjoyed big increases in digital advertising spend. Procter and Gamble was up to over £10M and Unilever increased its spend to £6M on digital advertising, despite its boycott on Facebook.

According to Pathmatics intelligence, other top advertisers in August included the likes of Peloton, EE, McDonalds, Uber, GOV.UK, University of London, Flatshare, Macmillan Cancer Support, Talk Talk, Tesco, Wix.com and Hello Fresh.

There was also a number of new marketing appointments in August to keep an eye on:

Virgin Atlantic appointed Siobhan Fitzpatrick. She will take up a new, yet-to-be-announced role to replace Claire Cronin in September. Fitzpatrick will spearhead marketing, communications, digital, loyalty and customer journey. She currently serves as the company’s digital & distribution VP.
Premium drink mixer producer, Fever-Tree, hired Camille Beaufils as its new global marketing director. Camilla previously worked as the incubation marketing manager at Diageo, and the European social head at Diageo.
YouTube has a new UK marketing lead with Zoe Clapp. She previously served as CMO of Premiership Rugby, and prior to that, spent nearly four years as the chief marketing & communications officer of UKTV. A new marketing lead is the number one sign that an agency review will occur.
Finally, AA Cars, the used car platform owned by The Automobile Association (The AA), hired Mark Hodson as its marketing and product director in August. Mark previously served as CMO of Howsy, and before that, as marketing and audience director of Haymarket Media Group.

These insights on big spenders were sourced from Winmo Edge insights and Pathmatics, providing real time digital advertising spend tracking.

Get in contact to access similar information every day, gaining an unfair advantage on your competition!

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12 Sales Stats to End Q3 on a High Note

September 8, 2020in Ad Sales, Agency New Business, Salesby Samantha Stallard

The end of quarter chaos inside sales departments is so commonplace that it has inspired dozens of memes. From Hannibal Lecter and The Joker to Liam Neeson and Austin Powers, sales professionals are depicted as panicked, desperate, and even self-destructive characters working to close deals at all costs.

The market has pushed brands across industries to hit ever increasing sales goals month after month and quarter after quarter. The good news? You’re more likely to make a sale during crunch time (see stat #1). This is a not-so-well-kept-secret that both sides of the deal rely on to save money and secure revenue. Alongside other proven tools like tone, social selling, and phone call follow-ups, there is ample opportunity to connect and close.

Here are 12 sales stats to end Q3 2020 on a high note. However…

… these stats are meant to serve as motivation — odds alone won’t secure a contract. To close the quarter in the black, be a storyteller first. By telling the story of your leads’ lives before, during, and after working with your company, you’ll illustrate the transformative value of your product or service. Rehearse how the story will play out in different scenarios and get excited by the prospect of signing on highly motivated new clients who can serve as referrals down the line (more on that below).

Now let’s hit the ground running:

Salespeople close 3x as many deals at the end of the month than any other time. (HBR)
91% of the top performing sales organizations collaborate across all departments to close big deals. (Miller Heiman Group)
A sales strategy survey found that 41.2% of respondents said the phone is the most effective sales tool. (Mark Wayshak)
Salespeople close the most sales from referred leads – at a 3.6% rate. The company website leads to 1.55% of closes and social media comes in third at 1.47%. (Implisit)
Top performing salespeople are up to 10x likelier to use collaborative words and phrases (we, us, our, and together over you, I, me, and your) than low-performing ones. (Chorus.ai)
Social selling tools can increase win rates and deal size by 5% and 35%, respectively. (LinkedIn)
Persistence pays. Salespeople who make 12 contact attempts perform nearly 20% better than their colleagues who stop at eight attempts. (The Bridge Group)
Tuesday’s win rate is 14.72% higher than Friday’s. (Insidesales)
During a sales call, using your company name once or twice has no impact, positive or negative. But when used 4x close rates drop 14%. When used 6x close rates drop 19%. (Gong.io)
Companies that have a well-defined sales process – something that salespeople are accountable for following – are 33% more likely to be high performers and close more deals than those that don’t have one. (The TAS Group)
About 47% of top performers ask for referrals consistently, versus only 26% of non-top performers. (HubSpot)
The most successful reps use terms that inspire confidence, such as certainly, definitely, and absolutely, 5x more often than low performers. (Gong.io)

Bonus sales stats: Here are the top ways to create a positive sales experience, according to HubSpot buyers:

Listen to their needs (69%)
Don’t be pushy (61%)
Provide relevant information (61%)
Respond in a timely manner (51%)

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Top 10 Most Searched Company Profiles in Winmo

September 4, 2020in Agency New Business, Breaking News, Marketingby Samantha Stallard

Four months left of the longest (yet somehow fastest?) and most challenging year in recent history. Remarkably, we’re adapting and the economy continues to operate. Businesses across the globe have — word of the year — pivoted, to address consumer concerns we would have never imagined a year ago like social distancing, hygiene standards, and mask requirements. Somehow, through everything, CMOs are still being hired, agencies are answering RFPs, and sales opportunities continue to arise. (We know because we track them all.)

To prove that the world keeps spinning, here are 10 of the most searched company profiles in Winmo, as well as details on brand activity/updates to keep an eye on. Ten profiles means 10 chances to build sponsorship partnerships, agency relationships, advertising opportunities, or a new audience.

Be sure to explore the Crystal Playbook links below, too. Their eerily accurate personality and team dynamic insights can help you not only identify contacts, but personalities and team dynamics. Find out who’s the objector, who’s your likely ally, and who has the highest level of influence on others.

1) Apple: New iPhone (and ads) are coming

Upcoming ads from Apple will promote the recently announced iPhone 12. The global pandemic hasn’t negatively affected iPhone sales, as brand loyalists switched from physical stores to online shopping. And, according to execs on Apple’s most recent earnings call, the company experienced strong digital performance this quarter, noting all-time revenue records in the App Store, Apple Music, video and cloud services, and heightened engagement on iMessage, Siri, and FaceTime.

What does this mean for agencies/martech? With changes/internal promotions in the marketing department, agency reviews could be coming, so now’s the time to reach out.
Apple’s media remit is split between OMD’s Los Angeles and San Francisco offices.
Critical Mass, Elephant, and TBWA \ Chiat \ Day handle creative duties.
Check out Apple’s brand Playbook.

2) GEICO: Investing more in customer data

In July, GEICO Corporation announced Yang Yu, former Mercury Insurance senior analytics director, as VP and chief data analytics officer. Yu is expected to overhaul the insurance company’s CRM to become more data-driven. Additionally, GEICO appointed marketing director Emily Houston in June 2020.

What does this mean for agencies/martech? Yu’s hire means GEICO is now handling digital analytics itself, so prospect elsewhere for more immediate opportunities.
GEICO works with The Martin Agency (creative and digital) and Horizon (media buying and planning).
Check out Geico’s brand Playbook.

3) CVS: Optimizing in-store purchasing for marketers

Late last week, CVS announced the launch of media network, CVS Media Exchange (CME). The network will offer ad space such as in-store ads, website banners, programmatic display, video, social, and search. CME will also provide tracking technology to monitor brand health, sales, and new customer data. Per CVS, about 76% of Americans live within five miles of one of its stores, which means it should provide a positive ROI.

What does this mean for sellers? The company mainly targets Gen-X and boomers with a female skew. It has been shifting funds from digital channels to TV over the past few years, considering its target audience.
CVS also invests in local marketing methods such as OOH, print and radio.
Check out CVS’s brand Playbook.

4) LG Electronics: Prepping for a holiday spending boom

Though LG only utilizes TV ads for its appliances, it has increased digital display spend over the last year, indicating it may be seeing a better ROI through this channel. LG also invests in local marketing methods such as OOH, print, and radio ads, per Kantar, and their top spending period is generally Q4, around the holidays. It has a broad target audience, but focuses on millennials.

What does this mean for agencies/martech? With recent agency reviews, more may be coming, so pay close attention to LG’s activity for the best chance of winning new business.
LG named PHD global media AOR last November, Hill Holliday works on creative and iCrossing takes care of digital.

5) Netflix: New marketing strategy courtesy of the GOAT

The streaming giant appointed marketing superstar Bozoma Saint John as its new CMO in July. Saint John’s past experience includes stints as Uber’s chief brand officer (2017-2018), Apple’s global consumer marketing head (2014-2017), and PepsiCo’s music and entertainment marketing head (2011-2014). Saint John will now spearhead Netflix’s planned marketing strategy pivot.

What does this mean for agencies/martech? Saint John’s hire makes it even likelier that Netflix could shift agency partners.
Agencies include VIRTUE Worldwide (social since 2016), 160over90 (digital since 2013), BWR (PR since 2006) and Mediahub Los Angeles (media since 2016).
Check out Netflix’s brand Playbook.

6) NBCUniversal: Strutting its new streaming service

Peacock made its long awaited debut in July, NBCUniversal’s first major effort meant to capitalize on streaming. The platform offers space for advertisers, unlike ad-free competitors (Netflix, etc.). The free lowest tier has experienced significant advertising support so far — offering 13,000+ hours of shows, movies, news, sports, and Spanish language content. The brand also offers an ad-free tier for an added $5/month, though live sports streams and news programs will still show some ads.

What does this mean for sellers? Reach out soon to secure ad dollars supporting this new brand, especially those able to get it in front of Gen-Z and millennial/Gen-X parents.
NBCUniversal also utilizes OOH, print, radio and local broadcast, so Peacock may do the same soon.
Check out NBCUniversal’s Playbook.

7) LendingTree: Going through a C-suite shake up

The financial and real estate marketplace promoted Cornell McGee to marketing SVP in August. McGee has been with LendingTree for three years and perviously served as digital & product marketing VP. The company still hasn’t replaced CMO Brad Wilson since he departed last November, so McGee may alter the marketing strategy as well as adjust the agency roster.

What does this mean for sellers? LendingTree targets a wide range of consumers including Gen-Z, millennials, and Gen-X.
It recently decreased funding for national TV ads to focus on digital ads.
Keep in mind, these strategies may be subject to change following McGee’s promotion.

8) Peleton: Prioritizing at home workouts over bike sales

Last month, the home workout company hired Dara Treseder, the previous CMO of 3D printing company Carbon, as their new global marketing and communications SVP. Treseder will handle brand marketing, consumer insights, communications, and creative. Peloton also recently promoted digital SVP and GM Karina Kogan to global product marketing head and SVP. She will lead Peloton’s go-to-market strategy focusing on virtual classes.

What does this mean for agencies/martech? Peloton should return to heavier ad spend as coronavirus restrictions relax over the next year.
Horizon was assigned media duties in September 2019, and Mekanism has handled creative since 2017.
Check out Peloton’s brand Playbook.

9) State Farm: Driving success through cause-oriented campaigns

With everyone driving less during the pandemic, State Farm returned $2 billion to auto policyholders in May, promising to make similar decisions to serve customers throughout 2020. Several agents also made hand-sewn masks for their communities. Cause-oriented millennial consumers are more likely to buy from brands giving back and an increase in digital display ad spend shows State Farm’s eagerness to connect with younger, socially conscious, and media-consuming audiences.

What does this mean for agencies/martech? State Farm shifted away from lead-agency models, except for its partnership with Marketing Arm, creative AOR since November 2019, but you may be able to secure project-based work.
The company also works with DDB Chicago, Translation, Alma, fluent360 and Rodgers Townsend on creative and digital.
Check out State Farm’s brand Playbook.

10) Pandora: Continuing strong advertising throughout the pandemic

Even with store closures, Pandora Jewelry is advertising heavily — and its national TV and digital display ad spend should spike even more in Q4. Pandora recently launched a Star Wars collection and announced plans to make all jewelry from recycled (rather than mined) silver and gold in an effort to reduce CO². Pandora targets women and gift-giving men, with its spend often rising ahead of gift-giving holidays such as Valentine’s Day, Mother’s Day, and Christmas.

What does this mean for agencies/martech? Pandora announced a marketing shift earlier this year, so continue reaching out for potential opportunities.
You’ll have the best luck securing media, digital analytics, PR and/or social media management work.
VIRTUE manages creative AOR and Mindshare is Pandora’s media AOR.

(And, if you want to know how much these brands and their competitors are spending, WinmoEdge subscribers get a daily briefing email with opportunities just like these. Plus information about who, when, and how to get in touch with decision makers inside the brands. If you’re a Winmo subscriber you can click through to see decision makers’ contact information for each brand.)

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4 Brands Reallocating Social Spend From Facebook

September 1, 2020in Ad Sales, Agency New Business, Breaking Newsby Samantha Stallard

Where’s the line between profit and activism? That’s the question 200+ companies asked themselves in July when they pulled $7 billion in social spend from Facebook, boycotting the platform until it addressed concerns over civil rights, diversity, and conspiracy-mongering.

First it was Patagonia and REI, then came Honda, Verizon, and Coca-Cola. These multi-million dollar spenders announced they were pausing advertising from the platform (some until the end of the year), standing in solidarity with Stop Hate For Profit and Color of Change.

With 1.49 billion (with a b) daily active users, advertising on Facebook has become a necessary ad strategy for companies of all sizes. The platform’s micro-targeting features allow brands to reach their exact desired audience, getting in front of the people who are most likely to engage. And they’re willing to pay up — we reported last month that HBO spent $44,059,200 on Facebook alone in Q3, earning 5,888,031,400 impressions.

Most boycotting brands plan to maintain their total planned media investment for the year. Based on the ad revenue Facebook lost, billions of dollars have been freed up. But where are they going to spend it now? Publishers should aggressively pursue these social budgets while brands are deciding where to reallocate the funds.

Here are four brands reallocating social spend from Facebook. Publishers, take note:

1) Microsoft: The software giant did have one day of spending before settling back into the boycott.

Microsoft tapped MGID as its global native advertising partner last month. MGID will be responsible for placing ads across Microsoft’s network of over 1,200 news outlets such as MSN. This will allow Microsoft to reach its target audience more effectively. The company also plans on releasing a new Xbox console near the end of this year, though not confirming a release date. Regardless there should be extra ad dollars out there for sellers this holiday season.

Sellers – Microsoft targets a wide audience of consumers including Gen-Z, millennials, and Gen-X, reaching audiences through national TV and digital display ads. It also invests in local OOH and print ads, per Kantar. Look for extra Xbox ad dollars beginning in Q4 and continuing throughout 2021 as it promotes the new Xbox console. This will appeal to Gen-Z and millennial males.

2) Starbucks: Minimal Facebook spending since July 1, 2020.

Of course, Starbucks will advertise heavily this fall around the Pumpkin Spice Latte and other seasonal drinks. Additionally, it will add more ways to pay and earn rewards via its app, which also now offers consumers the option to buy drinkware virtually. So far this year, Pathmatics estimates Starbucks has generated 4.1b digital impressions. With all of the upcoming holiday advertising, we may see Starbucks’s full-year 2020 spend end up growing overall.

The company tends to target a wide range of consumers ranging from Gen-Z to Gen-X, with a slight female skew, but lower digital ad spend and higher national TV spend lead us to believe it’s especially focused on millennials and Gen-X at this point. Kantar data reports Starbucks also utilizes OOH and local broadcast but, at least as of Q1 2020, hasn’t invested in search, print or radio since 2019.

3) Coca-Cola: No Facebook spend since July 1, 2020.

Execs reported in the company’s Q2 2020 earnings that they were reassessing their overall marketing ROI “on everything from ad viewership across traditional media to improving effectiveness in digital.” Coca-Cola temporarily paused spending due to COVID, but its overall ad spend is still relatively low. According to Pathmatics, Coca-Cola utilizes paid social, allocating around $3.2m toward Twitter ads and $349k toward Instagram ads.

Sellers – Coca-Cola invests in local marketing methods such as OOH, print and radio ads. They mainly target Gen-Z and millennials with a slight female skew through digital display and national TV ads, heavily focusing content on their sustainability efforts.

4) Clorox: Minimal Facebook spending since July 1, 2020.

Clorox boosted its ad spend by $50 million due to the surge in disinfectant demand due to the global pandemic. Its sales rose almost 15% YOY in its fiscal Q3 (FY closed in June) and donated $14 million in COVID-19 relief efforts. The company also has the following virus-related goals:

Protecting its employees’ health, safety and well-being
Maximizing supply
Supporting caregivers and others impacted most by the pandemic

Clorox is targeting Gen-Z and millennial parents with its rising display ad spend. According to Kantar data, the company also utilizes search, OOH, print (magazines), radio and local broadcast.

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7 Business Podcasts to Reignite Your Sales Strategy

August 27, 2020in Ad Sales, Agency New Business, Podcastby Samantha Stallard

Check out the Winmo blog sales hub for even more sales strategies, business podcast recommendations, and content for closers.

We all need a little inspiration sometimes. Especially around the end of the quarter, sales and marketing teams can become so hyper-focused on revenue goals that they put their blinders on and ignore other important factors that lead to a sale (or a loss).

But life is about balance. Be aware of your target goals, but schedule time to learn, too. Podcasts are a great way to gain industry knowledge without being tied to your inbox. Go for a drive, walk the dog, or cook a meal while you listen to business insights from industry experts. Inspiration most often strikes when we’re off the clock and not under the pressure of a deadline, so block off “learning hours” on your calendar. Don’t rob yourself of this time.

Here are seven business podcasts to reignite your sales strategy, including one that holds an extra special place in the Winmo team’s hearts (and Google Analytics reports):

1) Business Casual by Morning Brew

Since this pod launched in September 2019, host and Morning Brew business editor, Kinsey Grant, interviews CEOs, business leaders, and industry thought leaders. Together, they break down topical business issues to peel back major causes, outcomes, and financial questions. Grant has covered everything from the demise of Big Tech, trade wars vs. streaming wars, to the likelihood of a 2021 Olympic Games.

I especially love Grant’s open disdain for remote work and her eagerness to get back into the office. The podcast is delivered in Morning Brew’s style of casual intelligence where no question is too pedestrian and the listener walks away with new knowledge on a complex topic. Definitely subscribe to their newsletter if you haven’t already.

2) Marketplace

Host and journalist Kai Ryssdal breaks down the world of economics, not just relating the news, but making it accessible to non-econ majors. It currently serves as one of the most digested pieces of business media in the US. What makes Marketplace stand out is the diverse interviewees across each episode. Ryssdal regularly interviews everyone from big tech entrepreneurs and CEOs, to small business owners and average participants in the economy.

3) Win More by Winmo

Launched in January 2020, the Win More podcast is hosted by our own software engineer, Joe Winter, and client success manager, John Zaldonis. Five days a week, Winter and Zaldonis dive into two top brands making moves and share the most valuable predictive sales intelligence information within the Winmo platform directly with listeners. This sales podcast is actionable; the insights and updates profiled in Winter and Zaldonis’ conversations with industry experts go further than the best tips for cold-calling.

The podcast explicitly tells listeners the names and contact information of the decision makers at the brands discussed. Most importantly, by surfacing the best opportunities for new business development and the most impactful decision maker moves in the agency, media, ad tech, and sponsorship industries, Win More’s goal is to produce real leads for real businesses. With this in mind, listen on Spotify and, for contact information on top advertisers, request a Winmo demo.

4) How I Built This

There’s a reason the About Us page on your website is such a strong lead gen machine. Storytelling is the most powerful communication tool because we’re inherently curious about powerful and successful people. The How I Built This business podcast explores how some of the world’s biggest brands got their start. Host Guy Raz interviews the minds behind Five Guys, Instagram, and most recently, Wayfair.

With just as much focus on these creators’ childhoods, humble beginnings, and surprise at their own level of growth, the podcast highlights the highs and lows of business, reinforcing that success is almost never a straight line. Be sure to listen to the Ben & Jerry’s episode and prepare to be inspired by their feel good story and uncompromising stance on humanitarianism. If you think you love them for Cherry Garcia alone, just wait.

5) The Happiness Lab

The American-focus on work ethic has led us to believe that success breeds happiness. In fact, it’s the opposite — happy people seek out and undertake new goals that reinforce their happiness and other positive emotions. Host Dr. Laurie Santos, who teaches the course “Psychology and the Good Life,” at Yale, takes you through the latest scientific research and shares stories that will have you questioning our understanding of success.

6) WeCrashed: The Rise and Fall of WeWork

This six episode series from Wondery premiered in January 2020. Little did we know at the time that an international pandemic was about to take down all office culture as we knew it. It’s extra interesting to listen to through the lens of our current WFH culture and reflect on the not so distant past of 2019, when the shocking and colorful demise of shared-workspace startup WeWork was one of the biggest stories of the year. Business expert David Brown hosts the series and delves into how a company once valued at $47 billion crashed so hard.

WeCrashed is an important lesson for entrepreneurs about the fatal flaws of WeWork’s charismatic CEO, Adam Neumann. By obsessing over his vision of “chasing unicorns,” Neumann wasn’t prepared for the company’s impending IPO. Ultimately, selling a story that couldn’t be supported to some of the world’s savviest investors. Consider this a cautionary tale.

7) How to Fail with Elizabeth Day

While not a strictly business podcast, failure is part of life. It’s not the downfall that defines us, but how we respond to it. How to Fail is a weekly podcast hosted by journalist Elizabeth Day that isn’t afraid to acknowledge shortcomings and imperfections by covering them up. Instead, Day’s guests impart wisdom around their personal challenges and ingrained anxieties, detailing how they’ve helped them grow and succeed.

With this in mind, start off with Phoebe Waller-Bridge’s second episode. She talks through three personal failures from the past year as well as shares insights on Fleabag‘s origin.

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What Agencies Should Be Doing 6 Months Into COVID

August 25, 2020in Agency New Business, Breaking News, COVID-19by Samantha Stallard

Check out the Winmo blog agency hub for even more new business strategies.

In March, we published What Agencies Should Be Doing in This Downtime, with Tim Williams from Ignition Consulting Group. Now, almost six months later, we’re still adjusting to life amidst a pandemic, while also wondering how temporary these “unprecedented times” actually are.

Since quarantine began, there has been a considerable drop in worldwide advertising spending because wherever consumer behavior shifts, advertising spend shifts in response. According to the Interactive Advertising Bureau, almost a quarter (24%) of media buyers, planners and brands paused spending through Q2, while 46% indicated they would adjust their ad spend for the same time period.

World Economic Forum ad spend data agencies new business

Source: eMarketer, Accenture

Advertising agencies accounted for more than half of all reported layoffs in Q2, according to Forrester. Luckily digital and media agencies were less affected — partially thanks to their accelerated focus on, you guessed it, digital media.

However, even as layoffs and furloughs hit, brands still need agencies. The industry will survive, though it will look different on the other side. Bloated ad dollars and hyper-focused boutiques might go by the wayside, but change doesn’t mean death.

Here are five action items agencies can implement to continue their efforts six months into the pandemic:

1) Automate everywhere

Automated, data-driven services and creative production will continue to be your most important assets. Agencies can no longer successfully operate off of 2019-era timelines. By embracing automated production, you can significantly shorten production schedules and prove worth to clients.

Of course, strategy and creative ideation can’t be automated — and even efficiency software is only as good as the person managing it. Fortunately, automation does allow your team members to flex their muscles and learn new, marketable skills.

2) Become experts in virtual events

Today, it’s not enough to be digital-only (and it’s certainly not enough to be an experiential-only). With in-person events paused for the foreseeable future, virtual events intersect the worlds of specialized agencies. And your team is expected to be the authority, even as you learn on the fly.

Start by taking the time to understand the ins and outs of different virtual platforms. Experiment with content for Instagram Live, Zoom, and even Run The World for large-scale gatherings. Once you’ve decided on which tech works for which audience, focus on incentivizing attendance. As an agency, your client looks to you to advertise and monetize, so create materials, host giveaways, and be ready with creative ideas to get people signed on.

3) Get active on social media

Agencies often famously disregard their own digital presence to focus solely on clients. While Williams highlighted the importance of updating your website in March, putting that same effort into your social media is equally important.

Conduct a “following” audit on Twitter and Instagram to clean out old accounts and ensure that clients (brands and contacts) are there. Update logos, cover photos, and bios to reflect your most recent branding, too.

Most importantly, post! Engage in conversations with other agencies and influencers in your specific industry, ask questions and post polls to your followers to spark discussion, share personal updates from your team members (everyone loves a peek behind the curtain), like, retweet, comment, and implement social as a part of your daily routine.

4) Negotiate your lease

Implement a long-term, or even permanent, work from home strategy. The less money spent on leasing an empty office space, the more you’ll have to pay for those automation tools or even salaries. Some might say it’s not so simple and agencies will never be able to abandon their offices completely.

It’s true, many are locked into long-term leases and services that require heavy collaboration like creative and production, are difficult to maneuver from home. However, now’s the time to have honest conversations with landlords about your long term plans — decrease your physical footprint, relocate to a less expensive building under the same management, or even consider a retail space to house production needs.

5) Uncover how you’re meaningfully different

This one is pulled straight from Williams’ March post, but needs to be reiterated. Once your agency gets the attention of a prospective client, don’t waste time talking about “differences” that are not really points of differentiation at all; they are only points of parity dressed up in colorful language. Capitalize on this opportunity to scour every aspect of your business for meaningful ways you’re unlike other agencies.

As day-to-day production work moves increasingly in-house, clients are subsequently looking to outside partners to provide the insights and strategic thinking needed to grow their brands. Take this opportunity to develop competencies and offerings that are more valuable than basic campaign execution. Engage your team in this thought process and uncover high-value services.

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Social Media Ad Spend is Climbing: 10 Advertisers Behind the Spike

August 20, 2020in Ad Sales, Agency New Business, COVID-19by Samantha Stallard

The end of Q2 and beginning of Q3 has been a highly emotional, and often volatile, time for advertisers, especially on social media.

Early June saw a dip in social media ad spend in the US, most notably in support of #BlackoutTuesday, a digital protest in response to the killing of George Floyd. However, spending returned to normal almost immediately with many brands using their platforms to align themselves with the Black Lives Matter movement and other social causes.

Then in July, more than 1,000 advertisers, including Unilever, Starbucks, and Coca-Cola, boycotted Facebook over hate speech, standing in solidarity with the campaign, Stop Hate For Profit.

Interestingly, the majority of these brands didn’t pause their social spending, but instead reallocated their budgets to other social media platforms, while many small-scale businesses continued their Facebook campaigns.

Video content has also experienced a renaissance in 2020, as the pandemic drove us all indoors with the time and resources to engage with more social video content, including those on Twitter and Facebook Live (and of course everyone’s favorite, TikTok, which must be saved).

Where’s the opportunity?

We recently began incorporating social spend data in Winmo, and as you can see from the 10 brands highlighted below, a major opportunity source lies in entertainment and CPG. Six months into COVID, we’re still operating with a quarantine mindset. Though restrictions are loosening across every state, life as we knew it is months, if not years, away.

We aren’t going to the movies, sporting events, or concerts, but we’re streaming them more than ever. Accordingly, HBO is capitalizing on its full name (Home Box Office for those who need a fun fact for your next team meeting) with the launch of HBO Max with a heavy focus on Facebook and video.

Equally important, FuboTV is anticipating an increase in subscription and advertising revenue along with more Q3 viewership thanks to the return of live, though fan-less, sports. The internet television service is also, of course, putting the majority of their ad dollars into Facebook, with Instagram a close second.

Household names Heineken, Oscar Meyer, and Heinz all make the list as the restaurant industry still struggles to safely reopen indoor dining, with the majority of Americans still choosing to cook at home. However, Buffalo Wild Wings is pushing both its takeout and dine in options, creating social campaigns around National Chicken Wing Day and introducing a house beer.