Small Spark Theory: a marginal gains approach to new business and marketing

It's been 6 years since Tony Walford from Green Square joined me on Small Spark Theory to discuss the practicalities of selling an agency.  To say a lot has happened since then would be an understatement. Aside from the obvious economic rollercoaster and acceleration in technology, we've seen a seismic change to the way many of us work.  I was curious to find out how these changes have affected the agency M&A market, so invited my fellow Design Business Association expert David Blois from M&A Advisory to share his observations and insights.  Join us in conversation to hear: which agency services are in demand how to measure your preparedness for sale what to consider when assessing a buyer As always we have a book giveaway - David's recommendation is The Trusted Advisor by David Maister, Charles Green and Robert Galford. Simply join in the conversation on X, Instagram and LinkedIn using #smallsparktheory for a chance to win.   

Of all of the marketing tools available to agencies, I’d wager that one of the most effective, yet most overlooked, is the humble email newsletter.  Which of course, makes it the perfect candidate for marginal gains and the perfect topic for this podcast. And this month, I have the perfect guest in the shape of agency newsletter specialist, Jamie Woodbridge  from The Inbox Club. In this episode we discuss why newsletters are so important - particularly in the face of so many shiny new channels, how to set good objectives, what to measure, which platforms to use, the optimum frequency and what makes winning newsletter content.  As always we’ll be giving away a copy of Jamie’s recommended read: A Whack on the Side of the Head by Roger von Oech I’m delighted that Jamie and his team are going to be relaunching  my very own newsletter (which has fallen ominously silent over the last year). The first issue of One Small Spark lands at the end of this month, so look out for it if you are already subscribed, or sign up here to join in the fun: http://eepurl.com/dql7rf You can also sign up for The Inbox Club’s own weekly newsletter, full of actionable advice, here: https://theinboxclub-tips.beehiiv.com/subscribe  

Clair Heaviside, co-founder of the agency Serotonin and an ultra-running enthusiast, shares how her endurance training shapes her leadership style. She highlights the importance of mental fortitude and consistency, drawing parallels between ultra-running and running an agency. Clair emphasizes avoiding hasty decisions during tough times and shares practical tips for agency growth, like setting boundaries and fostering team ownership. Her recommended read, 'There is No Wall' by Allie Bailey, inspires personal accountability and resilience.

Early on in my agency career I often used to hear the expression 'great creative work will sell itself', and its close cousin 'do great work and the clients will come'. Of course we know that in reality, certainly for the majority, these things are rarely true, but I'm still surprised by the number of agencies I meet who continue to operate as though under this misapprehension, highly focused on the creative or technical output but lacking in broader commercial acumen or practice.  In this episode I talk to designer, agency leader and consultant Tim Perry about the most common commercial skills gaps he’s observed and how he’s tackling them through a range of bite-sized training courses designed especially for creatives. This feels like the perfect discussion to be having now. If ever there was a time to sharpen our networking, relationship-building and negotiation skills it is now! As always we’re giving away a copy of Tim’s recommended read: The Laws of Simplicity by John Maeda - listen in to find out how to win.   

Over the recent months, I have observed how agencies have been experiencing the impact of economic uncertainty - including the stalling of client decision-making, frozen budgets, disappearing pipelines, and everything in between. In their recent BenchPress report, The Wow Company described last year as 'brutal' for agencies, and as 2024 adds more political uncertainty, there is no sign of any immediate relief. So, with this in mind, I wanted to share my thoughts on why 'new business' is such a problem for agencies and suggest some practical steps we can take to alleviate that ever-present feeling of needing to pull a proverbial rabbit out of a hat. There's no book recommendation this month; instead, I've compiled a short guide to help you reboot your new business pipeline in five simple steps. Download your free guide here.

Over recent episodes we’ve referenced many of the macro issues facing brands which have in turn slowed down or stalled new business opportunities for agencies.  But there’s an elephant in the room that we’ve yet to address; the growing trend of clients deciding to bring creative resource in-house.  In this episode I speak to designer, brand specialist, ex-agency owner and all-round magnificent entrepreneur Emma Sexton. Emma has long championed in-house creative teams having set up the Inside Out Awards over a decade ago. In 2021 this association blossomed into The Inside Out Community, a vibrant member community of in-house creative leaders.  Emma shares with us the latest statistics on the growth of in-house creative teams, both nationally and internationally and the key drivers behind this shift. We look at the role of AI and budgetary implications. Most importantly, we look at the opportunities for agencies in the face of a trend that isn’t going away any time soon. You can read more about these insights in the recently released report The Future of In-House of Creative Leadership. Our book giveaway this month is Emma’s recommendation: Madison Avenue Makeover : The transformation of Huge and the redefinition of the ad agency business. Listen in to find out how to win.  You can listen to Emma’s previous conversation with us about new agency models here.

EP85:  Changing perception | Steve Garside | TMW            Have you ever felt that your agency is pigeonholed by clients and prospects as being a specialist in just one thing, where in reality you have so much more to offer? Of course being seen as a specialist of any kind is a generally a good thing – we have many episodes where we have discussed this at length. But in some cases, over time, the perception of a narrow service specialism can become an inhibitor to growth. In this episode I’m joined by Steve Garside, Divisional Head of New Business & Marketing at TMW Unlimited as we discuss the challenge of changing the market perception of an agency know for decades as a CRM specialist. Steve takes us through his approach to broadening the agency’s appeal to a wider audience and shares his top tips for anyone looking to get out of troublesome pigeonhole. No book competition this time but you can download Steve’s recommended read: New Business: A guide to life on the frontline published by the IPA.

Here we are at the beginning of 2024 and it feels fitting for our first episode of the year to celebrate change. Last Summer, 40 year old agency Thompson Brand Partners rebranded as ThreeTenSeven - the final iteration of the agency’s repositioning following a management buy-out in 2019. At a time when we have seen so much uncertainty, in the economy, our working practices and our client’s changing needs, I was inspired by the confidence of this move, and wanted to find out more. In this episode I talk to Managing Director Rachel Cook, about the process the team went through to bring about this change, the implications for the agency’s new business and marketing and that small matter of showcasing diversity in leadership. Rachel’s recommended read is How to Have a Good Day by Caroline Webb, listen in to find out how to win a copy. As discussed in this episode we are always delighted to hear from potential guests with stories and expertise to share. If that’s you, please get in touch at lucy@gunpowderconsulting.com This episode is sponsored by E2M, the #1 white label digital agency partner. Visit https://www.e2msolutions.com/smallsparktheory/ to enjoy 20% discount on your first month.  

December 2023 marks seven years of Small Spark Theory. Mindblowing then that’s it’s taken this long for a dedicated episode on the topic of proposals - such a crucial element of the new business process but a perennial pain point all the same.  Joe Ardeeser was so determined to find a better solution for turning around compelling proposals for his digital agency that he designed his own software. And so Smart Pricing Table was born.  Joe joins me in this episode to discuss the thinking behind the software; the power of packaged services; the proposal as a collaborative tool between agency and prospect and Joe’s love of marginal gains.  As always we’ll be giving away a copy of Joe’s recommended read: Good to Great by Jim Collins. Listen in to find out how to win.  Also mentioned in this episode: 10 Rules Every Agency Must Follow For Winning Proposals Built to Last by Jim Collins Sell Like Crazy by Sabri Suby Thanks for listening this year. We’ll be back in 2024 with more conversations and more marginal gains designed to help you attract and win more business.  Enjoy the festive season! This episode is sponsored by E2M, the #1 white label digital agency partner. Visit https://www.e2msolutions.com/smallsparktheory/ to enjoy 20% discount on your first month.

Regular listeners to this podcast will know that we spend a lot of time here talking about relationships. Of course there is much to say in our industry about creativity and marketing and technology innovation, but fundamentally, as agencies we are service businesses and so the process of attracting, winning and retaining clients has as much to do with the the people involved and the relationships we create as it does with the creative or technological outputs.  This year I’ve spent a lot of time auditing client relationships on behalf of agencies, so have been paying particular attention to the behaviours and dynamics that define successful working relationships - from early new business conversations all the way through to retained (and referred) business.  So I was particularly excited to receive a copy of Tuning Up, the new book by David Meikle, exploring how responsibility and control relate to one another in ALL of our relationships but specifically within the client and agency dynamic.  In this episode David joins me to discuss how using his clever Meikle Matrix to help us better understand responsibility and control,  we can improve our performance and reduce stress.  Don't forget, we’ll be giving a lucky listener a copy of Tuning Up, listen in to find out how to win.  This episode is sponsored by E2M, the #1 white label digital agency partner. Visit https://www.e2msolutions.com/smallsparktheory/ to enjoy 20% discount on your first month. Also mentioned in the episode: David's previous book: How To Buy A Gorilla EP30: Rethinking Procurement