Changing Role of Ad Agency New Business Rainmakers?
Adweek doesn't suggest an answer; Here's one.
Large, well-known agencies are getting frustrated at the length of time it's taking to fill open CMO positions and with the lack of available talent, according to a July 13 article in Adweek.
The Comments of Others
Interesting observation Todd and one that may well be above my head in that I’m not blessed to be a CMO in the larger agency structure.
Having held the position for roughly 25 years outside of NYC, I freely acknowledge that the skill set that put me in the position (strategic planning, presentation organization, presentation, all with requisite writing skills) leave me a bit short on the personal relationship building talents requisite to be successful.
That of course is how we got to an Account Planner system. Strategic and interpersonal management skills are not typically found together either.
For smaller agencies like ours, it’s difficult to justify two salaries that look like non-billable expense.
It’s a dilemma.
I note Michael’s comment and simply add that the role of the regional integrated branding agency is as much under fire as the CMO position itself.
Rainmakers always know the answer to one question: “If I (the rainmaker) were the customer, and knowing what I know about my company, about my product, about the competition, about the customer, why would I do business with my company?” The rainmaker becomes the customer and honestly answers “why the customer should do business with me.” Knowing “why the customer should do business with me,” in dollars and cents, gives the rainmaker a rock solid foundation for confidently pursuing the sale. Learning the answer to this question must be part of your pre-call planning.
With over 50% of client relationships lasting less than two years and the average CMO tenure 27 months, the role of new business at our agencies is more important and a bigger focus than ever. Behind the closed doors of every shop there is a person or group of people whose very jobs are to focus on the growth of the agency’s reputation, client base and skill set, not to mention revenue.
Nix is what it old to be and this intellection rings a touching remark in the class of ad agencies. As the frugality and party material of the class someone exchanged, so has the client-agency enactment, with clients doing more of the tightened and agencies doing solon of the nodding.
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More and more consumers are reaching out directly to brands using tools like twitter and brands are responding. This cuts ad agencies out of the equation, eroding their traditional intermediary role especially as these exchanges increasingly take place in real-time.
Agency body say, still, that the job has transmute writer daedal—presumption the demands of leading reviews and dynamical nature of the shops themselves—and therefore more hard to stamp. As a finish, any searches for new playacting talent are taking somebody than potential—Saatchi & Saatchi’s just-completed CMO look lasted a period—and often touch multiple recruiters.
Agency leaders say, however, that the job has become more complex—given the demands of major reviews and changing nature of the shops themselves—and therefore more difficult to cast. As a result, some searches for new business talent are taking longer than expected—Saatchi & Saatchi’s just-completed CMO search lasted a year—and often involve multiple recruiters.
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Todd,
I had read the same article. You’ve brought some excellent thoughts that are even more on target, particularly for the small to mid-size agencies.