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

There aren't enough podcasting hours to do justice to the agency positioning and proposition debate. We've explored this before in episode 13 with David C. Baker and then again in episode 36 with master of the agency messaging, Roland Gurney.  But with entire industry sectors in crisis and an uncertain economy ahead it has never been more important for agencies to clearly define and signpost their expertise.  So buckle up, we’re going in again! In this episode we talk to Robin Bonn from Co:definery to get the lowdown on why positioning is dead but proposition is king and the perils of a pivot. Listen in to find out how to win a copy of Robin’s recommended read: Good Strategy, Bad Strategy by Richard Rumelt You can read Robin’s latest musings here and follow his Marketing Week column here.

Across the world, leadership is under scrutiny.   Citizens are looking to their politicians, employees are looking to their employers. Amid continued uncertainly, everyone needs direction and reassurance. So what does good leadership look like? Does it change in a crisis? And how can agency leaders look after their teams, and their own wellbeing, as we move from the challenges of lockdown to this next phase of the pandemic? In this episode we explore these questions and more with Executive Change Mentor Sally Henderson. Sally has worked with leadership teams at some of the most influential agencies and brands across the world. She joins us to share her top tips for leading with clarity, confidence and authenticity. As always we’ll be giving away a copy of Sally’s recommended read: Pitch Anything by Oren Klaff, also mentioned in this episode is Feel The Fear And Do It Anyway by Susan Jeffers. You can find details of Fearless Fuel, Sally’s peer-to-peer leadership round-tables here.  

Over the past six weeks I’ve been speaking to lots of agency leaders. Those one-on-one conversations have highlighted to me, just how many variables there are determining how agencies are able to weather this extraordinary storm. Aside from agency size and structure, services, client sector focus, and the deeply personal experiences of managing pipeline, clients and teams whilst either squashed together with, or isolating without family, there is the issue of cash. In almost every case it is the agency’s cash position going into this crisis that determines how able they will be to emerge. Cash provides time. Time to think, to adapt, to respond. So as we move into this next phase, and negotiate anew with clients and prospects, how can we maximise our cash? How do we make sure we still get paid for our ideas and solutions? In this episode, I talk to Independent Financial Director and cash flow specialist Michelle Cook. We learn how Michelle has harnessed Just-In-Time methodology used in manufacturing to revolutionise cash management and her top tips for invoicing, negotiating terms and avoiding payment delays. This is another perfect example of how small changes in our processes can deliver marginal gains. We’ll be giving away a copy of Michelle’s recommended read The Innovation Book: How to Manage Ideas and Execution for Outstanding Results by Max Mckweown. Listen in to find out how to win. You can find Michelle on LinkedIn here. And if you want to discuss a new business challenge, you can book into my diary here.  

I’ve spent a lot of time recently thinking about small agencies. Typically, those with headcount up to 10/12 and/or annual revenues under £1m. It’s worth pointing out that this band of agencies makes up an increasing large proportion of the UK landscape. But regardless of their specialism, at this size, effective new business resourcing is a common challenge. Whether the goal is steady growth or revenue maintenance, often the numbers simply don’t warrant a dedicated new business recruit and good external lead generation resource can be out of reach. It was this thinking that prompted the launch of the New Business and Marketing Bootcamp – designed specifically to provide leaders and founders of this type of agency with the tools to create effective new business and marketing plans and take control of the process. But what about when you break through that threshold and are ready to hire your first in-house new business talent? Our industry is littered with war stories of new business hires that that were at best ineffective and at worst, damaging to the agency brand. And for new business folk, there can be wildly unrealistic expectations to manage. So how to get the balance right? For this episode I chatted to Dave Corlett from Workbrands. Having spent 12 years in new business development roles, Dave shares his insights on making new business roles stick, the importance of collaboration, communication and how to stay competitive. If you are running an agency and considering your first new business hire or starting out on your new business career – this is the episode for you! Listen in to find out how to win a copy of Dave’s recommended read: Ogilvy on Advertising in the Digital Age. Details of the New Business & Marketing Bootcamp can be found at www.smallsparktheory.com      

There is no doubt there has never been a better time to rethink the way that agencies deliver their services to clients. With endless technology options, flexible workspaces, and an increasing supply of freelance talent, the barrier to entry is lower than ever for budding agency founders. So far so good. And yet I’ve met so many founders of small, start-up agencies who are reticent to show their size or ‘virtual’ status for fear of putting off potential clients. For this episode, I met with the multi-tasking design thinker and doer Emma Sexton, CEO of MYWW™, creator of the Inside Out Awards and co-presenter of TalkRadio's Badass Women’s Hour. I wanted to find out how Emma has perfected her remote-first agency without compromising on ambition. Are clients willing to try something new? Or is there still safety in size? Tune in to find out more and be in with the chance of winning a copy of Emma’s recommended read: The Courage To Be Disliked by Ichiro Kishimi and Fumitake Koga.

For marketers, brand positioning, proposition, messaging and tone of voice are no less fundamental than a visual identity. However, as we’ve discussed here before, for agencies -  largely SMEs and often without dedicated marketing resource - finding the time to achieve clarity here, let alone implement change, is a challenge. Back in episode 6 we talked about maximising agency websites and touched on positioning copy and about us pages. We dug deeper into agency positioning the following year when we talked to David C. Baker in episode 13. There’s so much more to say about messaging so I was very happy to stumble across the Treacle Copywriters blog (thank you LinkedIn) full of no-nonsense advice for agencies. In this episode I talk to Treacle founder Roland Gurney about the common messaging pitfalls and the opportunities for agencies to express their difference. We’re giving away a copy of Roland’s recommended read: Cashvertising by Drew E. Whitman. Listen in to find out how to win.

Whatever your planning cycle, at this time of year we are naturally drawn to consider our goals for the year ahead and begin shaping our marketing calendars. And as agency awards can take up such a considerable amount of time, energy and budget -it seems only right that we apply our marginal gains scrutiny to understand how to maximise our return on investment. In this episode, I get together with agency awards expert Stef Brown. Stef has clocked up an enviable win rate over the years, supporting all kinds of agencies to land their most prized gongs.   Join us as Stef takes us through her top tips - from prioritising awards schemes, creating winning entries and publicising our wins. We’re giving away a copy of Stef’s recommended read: A Smile in the Mind, listen in to find out how to win.   If you are looking to take control of your agency new business and marketing planning in 2020, check out the Small Spark Theory Institute at www.smallsparktheory.com 

For a variety of reasons I’ve had the opportunity to travel across the country more than usual this year, speaking on behalf of the Design Business Association in Manchester and Leeds, and joining the Agency Collective at events in Bristol and Edinburgh.   It’s given me the opportunity to talk to agencies outside of the London bubble and better understand some of the differences and similarities around the perennial challenges and opportunities for growth. So it was a pleasure to get to chat with Phil Gripton for this episode. Phil is a partner at growth advisory firm Waypoint, supporting agencies in the North of England and Scotland. His experience spans three decades of growing, running and selling agencies, as well as buying agency services in a number of client-side roles. Phil shares his top tips for maximising agency performance – from boosting profitability to shaping up for acquisition.  We’re giving away a copy of Phil’s recommended read, Invisible Power by Ken Manning, Robin Charbit, and Sandra Krot – listen in to find out how to win.

Over the last three years we have received so much wonderful feedback from Small Spark Theory listeners, telling us how they have been putting the advice from the podcast into practice and seeing marginal gains improvements in new business performance. In response to this, we have created the Small Spark Theory Institute, providing mentored, online new business and marketing courses. Our first course - a New Business & Marketing Bootcamp, is designed specifically for founders of 2-10 person agencies, who want to build workable strategies and plans whilst optimising their results. Over 60 individual lessons and 4 x one-to-one video calls with me, Lucy Mann, we guide participants through setting objectives and a strategy, creating a workable plan, then optimising performance. Check out the course dates at www.smallsparktheory.comand take advantage of special 15% discount for enrolments before 31st December by using the code PODCAST at the checkout.

Throughout this series we have been exploring the notion that by focusing on relationships, rather than a smash and grab for revenue, we build a more sustainable new business pipeline.  So in this episode I wanted to explore one underused skills in building relationships. Listening.  Catherine Allison, founder of Master the Art is a trained actress and new business practitioner who works with teams and individuals to help build confidence and gravitas.     Catherine joined us back in episode three to talk more broadly about how we can hone our presentation and communication skills. In this episode we got together to talk specifically about listening - the benefits of active listening and some simple steps to make sure we are all making the most of our conversations, either with new business prospects, our existing clients, even out teams. As always we have a giveaway for you. Listen in to find out how to win a copy of Catherine’s recommended read: Do Listen by Bobette Buster.