Posts Tagged ‘prospect’

Five Steps to Creating a Go To Market Strategy That Works

Once there is a resource plan in place, creating a strategy to activate the new business development plan is crucial. Building out a Go-To-Market (GTM) Strategy will guide the team to success and reduce common pitfalls like misuse of budget and missed revenue or profit projections. So what is a GTM? It’s a comprehensive action plan that outlines the approach and steps to attract and win new clients, enter new markets, increase market share, and achieve projected sales targets and revenue. Five questions that should get answered in a GTM include:

  1. What are we hoping to achieve? 
  2. How will we track progress? 
  3. What does success look like? 
  4. Who are we selling to and why? 
  5. What tools do we need to enable the team? 

Thinking through these “why” and “how” questions will force the team to delve into the details. A GTM will clearly define positioning, analyze the competitive landscape, and establish an initial offering that will gain credibility with the marketers you intend to sell to.

Right to Win 

Starting with the end in mind, bringing new clients onboard that the business is well suited to solve problems for is the main goal when designing a new business development strategy. 

Imagine you’re at a business conference. You get into an elevator along with two senior marketing decision-makers from a company that you would love to do business with. You overhear their conversation about one challenge that they are experiencing and you happen to be uniquely positioned to solve it. What is their challenge? And try to keep this answer to less than 50 words. This will force you to zoom in on your Right to Win. 

Your Right to Win should be firmly rooted in your ability to articulate value to the types of prospects you want to pursue. Questions around the problems you’re capable of solving or how you structure your fees all play a role into the type of clients the business is positioned to win. Once this is outlined, the most important question to end on is whether these answers will hold up to a prospect that doesn’t know you. 

Gathering enough information to tell a compelling story and arm this newly established business development team will be the first step before creating a list of dream accounts you’d love to work with.

Positioning 

The reality is, your position cannot speak to all people. It needs to be narrow enough to demonstrate your expertise, while also being broad enough to gain market share. Examples of narrow, yet broad positioning revolve around:

  • Service/Capabilities
  • Category Expertise
  • Demographic Solutions
  • Intellectual Property

Competitive Landscape 

Everyone has competition. It’s important to keep track of where your clients are going when they leave or why you lose a deal. It’s painful, but it will allow you to better understand your position and why you win the type of work you do. 

In a GTM, you’ll want to look at your competitors’ positioning and what you’re offering that they can’t. When comparing, think about who they are trying to sell to and why, and what kind of technology is used to enable their business development efforts. An effective competitive analysis should have two primary outcomes:

  1. What are the market barriers?
  2. What are the market opportunities?

Initial Offer 

The initial offer is a compelling insight that can convey to a prospect that you understand their business and can provide solutions to the challenges they are evaluating. The initial offer is most compelling when you raise awareness to a business need or opportunity. Examples of this include proprietary, vertical specific research, a creative lab intended to provide a brainstorm around a specific need, or presentations that frame their problem and offer guidance. 

With a GTM strategy to guide your team, you will be able to put them into action.

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10 Must-Do Activities to Catapult your Sales Pipeline

Marketing team’s are strapped with projects and plans from digital transformations to staying ahead of the evolving marketing shifts, and on top of this do their day-job. There’s more than $100 Billion in marketing spend every year. That’s a lot of money and not a lot of time. 

After a full day of being asked to prepare, present, and solve business problems, corporate and brand marketers rely heavily on partners coming to them with solutions. Awarding business to proactive and thoughtful partners is a marketing professional’s favorite part of their job. So how do you get in front of them in a way that feels authentic?

The activities needed to attract, attain, nurture and win new clients can vary, but every successful new business development plan has one thing in common: It takes a team to make it work. A team based model to business development focuses everyone’s activities around increasing the visibility of your expertise. The first step in resourcing a new business development plan is identifying who will be responsible for the following types of activities: 

Research

Which markets should you pursue? Who should you reach out to? And when would it be most effective? These are the types of questions researchers should be finding answers to. This team member will support prospecting efforts and provide critical information to others when a qualified business lead wants a meeting. 

Strategize

Analyzing where you have a Right to Win and what gives you a competitive advantage whether through positioning or your offer is key. Even better, document your strategy and have it vetted by team members with experience in Go-To Market strategy. 

Promote

With a digital-first economy, it is important to have someone with specific digital expertise such as search engine optimization, website management, marketing automation and analytics to support inbound marketing activities. Depending on your business, this activity can play a crucial role or it could play a supportive role in the overall program. 

Enable

Creating a sales process that uses a tech stack, content, email assets, call scripts, and capabilities deck will enable your new business team to produce qualified business opportunities. These activities fuel sales and help prospects easily understand what you can do for them.

Expertise

Becoming a member or sponsoring organizations where other subject matter experts in your domain share ideas is a first step toward this. Then, you can move onto submitting work for awards, pitching subject matter experts for interviews or byline articles, and participating in speaking opportunities. All of which will help validate your credibility as an expert. 

Write

Compelling content that demonstrates expertise will get used by almost every team member and will most definitely have reached your prospects before anyone else has. This activity is the fuel for enabling sales and promoting your business to prospects. 

Guide

New business development is a journey, and on every great journey you have a guide. Having a clear understanding of the strategy and the ability to navigate day-to-day organizational challenges will be important to steer the team in the right direction. 

Respond

The MVP on the team plays this role. Closers will typically excel in presentations, thinking on the fly and have deep knowledge of your business. A team approach to closing business can be very successful, especially when paired with a networker and subject matter expert.

Win

Taking a team approach to close a deal is a winning strategy. Creating a capabilities deck and customizing it to the prospective client’s problems will get you into negotiations.

Network

This is an age-old activity required for new business development. In-person or on social channels, this is something that will help expand your circle of influence.

Connect

Creating new opportunities for the business proactively requires dedication. Prospecting, qualifying potential clients, preparing the closing team to win, and facilitating conversations with the team in order to keep everyone on task – growing the business – takes dedication to drive everyone toward that winning opportunity. 

When you’re building out a resource plan for outbound sales efforts, it’s important to focus on the activities around researching, strategizing, and connecting. Hiring a 3-5 person team with these skill sets will open doors for you proactively. 

Ready to catapult your sales pipeline? Contact Us.

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Insights: Sales Growth in an Economic Downturn

In the beginning of 2022, brands struggled with their supply chains and what was thought (at the time) to be temporary inflationary pressures stemming from the war in Ukraine. Now we know that inflation and consumer spending changes will continue to be a challenge going into 2023. So where will the opportunities shift in an economic slowdown?

Consumer Packaged Goods (CPG) brands are not slowing down in terms of growth, but inflation and consumer spending shifts are still major challenges. This combination leaves the industry primed for opportunities to double down on their marketing efforts by leveraging digital, branding, packaging and creative, media and more.

Fear of Downtrading

While headlines have been mixed on where the economy is headed, the softness in the market that people feel is starting to become etched in hard numbers. Noteworthy CPG retailers like Target, Walmart, and Amazon missed their earnings. The fear earlier in the year that consumer behavior would be impacted by inflation is starting to take shape and show in financial reports.

CPG giants like Nestle, Unilever, and Campbells all experienced market share losses to private label brands in consumer staple categories. Strategies to protect against trading down were all prevalent in their reports. Price increases have been steady all year and most reported an additional 5% increase in the last quarter. Balancing price increases with the decline in spending is a top initiative for 2023.

CPG Opportunities

CPG is gaining back most of the lost margins through eCommerce. Digital sales continued to rise another 5% in Q3 bringing the YTD increase to just shy of 40%. This is partially fueled by the consumer behavior shift from in-person shopping to online, due to COVID. This convenience is one that many consumers still enjoy even with the upcharge.

Of all the categories to go after during an expected recession, CPG has the best outlook during the downturn and has fared better than many sectors. While most CPG companies are still down for the year, they continue to see organic growth gains and are not experiencing the declines that other sectors are seeing.

Key Takeaways

As inflation is here to stay, CPG brands are looking to make a two-pronged approach: Increase prices to adjust overall margin rates while deterring consumers from downtrading.

Increasing prices comes with a risk, and it’s that coveted phrase investors are asking every CPG brand about: Downtrading. Brand equity becomes highly important because brands won’t be able to compete on pricing given inflation challenges. Because of this, marketing and innovation will continue to see investments, skewing toward heavier investments in digital strategies and campaigns as brands aim to increase brand equity or premiumize their brands to offset the consumer perception of increased pricing. If the economy does dip into a recession, then brands will need to combat downtrading even with steady overall growth to their portfolios.

Find more opportunities with CPG brands. Download the full report

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Proactive vs Reactive Selling: Building your revenue streams with both approaches

Proactive Vs Reactive Selling

There are two revenue streams that sales and growth leaders build out: reactive and proactive. When creating a revenue generating process for your business, these two approaches should be monitored.

Response-Based Activities: This type of activity includes inbound inquiries and RFP responses. If RFPs are part of the team’s Go-To Market (GTM) plans, having an update on each stage of the RFP process will help the team win more frequently. Three main points to monitor regularly around RFPs include:

  • New RFPs and which ones to pursue. 
  • Deadlines and due dates throughout the RFP process. 
  • RFP win rate dashboard with budgets allocated to each submission. 

Inbound is likely part of the GTM too, and many teams will have two processes – one for those who want to talk to sales and one for those who are not ready for sales. The three main points to monitor for Inbound leads include: 

  • Response time to new sales inquiries. 
  • Outcomes from initial conversations from inbound leads. 
  • Engagement from leads that are still being nurtured by marketing. 

These response-based activities are considered reactive and will only take your sales pipeline so far. It’s often the case that simply responding to a situation – whether an inbound inquiry or a Request for Proposal – without a strategy to arrive at a desired outcome won’t grow the business. 

Waiting for the perfect client can lead to wasted time and effort by responding to prospects who aren’t a great fit. When taking a proactive approach, your team is able to guide the pace of the sales process and better serve the potential client. This also allows the team to ensure they’re meeting with the decision makers who care about the outcomes from the work, resulting in more closed-won business.

What is proactive selling?

Proactive selling is a sales approach that allows a sales rep to take control of the sales process instead of waiting on a lead to take some kind of action. This puts the sales person in a position to grow their sales pipeline instead of waiting for the right client to show up.

When engaging with potential customers, taking a proactive approach can help build trust and close more deals. Proactive strategies will require the sales rep to anticipate customer needs, show empathy, and solve problems before the customer is aware of them.

Proactive Approach: A proactive approach to new business development will look different from the response-based approach. The team members responsible for this should actively seek out new prospecting lists, adjust messaging based on who they’re interacting with, and focus on the responses received from their efforts. The four main points to monitor for outbound leads include:

  • Prospecting lists and attributes of those prospects. 
  • Sales cadences, including messaging for emails, social, phone calls and voicemail. 
  • Messaging and content to get prospects engaged. 
  • Response rates and engagement to outbound outreach. 

When is the right time to find a partner for proactive selling?

Taking a proactive approach to selling requires a dedicated resource with surrounding support. When your team does not have the ability to dedicate resources to this, partnering with Catapult can be a great option. Outsourcing proactive selling can aid your team and ensure success from all new business approaches. It supplements already over-taxed in-house growth leaders and allows your team to stay focused on its core strengths.

Ready to catapult your sales pipeline? Contact Us.

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How Today’s Economic Factors Drive Changes in Buyer Behaviors

How Today’s Economic Factors Drive Changes in Buyer Behaviors

Time kills deals.

Every new business person feels this statement in their bones. They all walk a fine line of pushing to get a new client on board while remaining patient. Most hate to be considered pushy. Given the current state and trajectory of the market though, prospects are going to ask for and take extra time to think and decide before taking action on signing a new agency. In fact, what we have seen in the past and are already seeing this summer is a change in how buyers make decisions.

Slower decision-making does not need to slow down your sales process

With budgets being reconsidered, revenue projections changing, and more scrutiny around every dollar spent, it’s no surprise why the buying process for services is slowing down. In a recent study by Forrester, they found that 43% of business buyers said they would “reduce the number of suppliers they use.” This stat should give any salesperson a bit of a pause, both anxiety over churn and excitement for opportunity. So what does this mean for you and your agency?

It means that you must be thoughtful in engaging prospects and clients. The process will take longer, so you need to be prepared for that mentally and with your own processes. It also means that you can’t just rely on one key touchpoint or interaction. You need to create a process and system that will keep you in front of your prospects, even if they aren’t ready to buy today.

Supporting their buying journey

The best way to do this is by helping and providing value in every interaction. Whether that’s sending them an article you think they would find interesting, or sending them a point-of-view (POV) on an industry trend, make sure that your interactions are about them and not just about trying to make a sale.

New Business people also need to be ready to ask the tough questions about their prospect’s buying process. It can sometimes be an awkward conversation, but the way people have signed an agreement in the past with a small group or single decision-maker is probably not going to be the case in the current market.

Here are some questions all should ask before you get too deep in the sales process:

  • How has your buying process changed over the last 60 days?
  • Who should we include in a review of these proposals?
  • Is there any customization I can provide on your Statement of Work (SOW) or Proposal that will better help you sell this to your team?

The key behind these questions is to make sure you are coming along the same side of the table as them to help them better understand, represent, and sell your service to the rest of their team. You don’t want to give the impression that you are bypassing them as the decision-maker. Instead, you want to help them come prepared to sell this to the collective buying group. By being prepared for a longer sales process, better understanding their decision process, and by being helpful and consultative at every interaction, you will be in a much better position to win new business…even in an uncertain market.

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Agency Insights: Market Shifts and Navigating the New Economy

Agency Insights
If there’s one word that describes 2022, it’s inflation. It’s affecting everything and everyone. It’s sucking the air out of the staggering growth that most brands and agencies have become accustomed to in the past 24 months. If you’re like most, 2022 started fairly strong but by the end of Q1 momentum started slowing.

This isn’t the Bear Market of March 2020

We all remember the circuit breaker days of the market falling off of a cliff in March of 2020. It was a panic-inducing few days that felt like years. It didn’t even qualify as a bear market and in hindsight was just a few really down days. It sparked the most rabid bull run that seemed to have no end.

By the end of 2020 agencies started reaping the benefits of that bull run. 2021 was marked by record-breaking growth for most. Outbound, inbound, referrals – new business was everywhere. The biggest problem was how to staff all the new business.

The bull run has indeed ended and there are no stimulus plans on the horizon.
Until inflation is under control, the plan is to cool the economy not stimulate it. It takes time so the present market we are in is likely not going away in the near future.

A Well-Rounded Outbound and Inbound Strategy is More Important Than Ever

There have been fewer RFPs this year compared to last year. After Russia invaded Ukraine and supply chains were disrupted, there seemed to be an unspoken pause in the market. Everyone was waiting to see if the problem was temporary or if there was a downturn looming. Consumers were still spending like they were in 2021 and then April came around and reality set in that the downturn was real. The silver lining is now that the situation is clear, brands are starting to make decisions again. It’s not anything like 2021, but brands are putting strategies and dollars in place to address the market we find ourselves in.  As an agency, a strategic outbound strategy has never been more important. It’s part of any good business strategy, but it acts as a hedge in downtimes. If your clients pull back on spending or fall off stating the economy, having a robust funnel of opportunities to backfill that revenue is crucial.

Brands Are Hungry For an Expert to Help Them Navigate This Environment

The one thing this market does have in common with March – October 2020 is volatility. Target is a perfect picture of that volatility. They missed their Q1 earnings for the first time since 2018….by a whopping 29%. They reported on May 18, 2022 and when asked by an analyst at Barclays why they didn’t give a pre-announcement that it was going to be this bad on analyst day just 2 months earlier on March 1st, Brian Cornell their CEO replied, “as we stand in front of you and others in March, we did not anticipate the rapid shifts we’ve seen over the last 60 days. We did not anticipate that transportation and freight costs would soar the way they have as fuel prices were then risen to all-time highs. While we were certainly anticipating the impact of overlapping stimulus and our consumer and guest returning to more normal activities, we did not expect to see the dramatic shift in many categories that we’ve talked about, the shift from categories like TVs to luggage, from small appliances to toys, and guests celebrating being out with friends. That certainly impacted our business in the first quarter, and we expect that to continue in Q2. And we certainly didn’t anticipate the impact that would have on our supply chain costs. So, things changed rapidly after we sit on stage in New York. We own that. It’s what we’re adjusting as we build our plans for the balance of the year.”

Brands are looking for agency experts to help them navigate the volatility. POV thought leadership pieces and problem/solution pieces go a long way in this market. Because of the volatile conditions, the needs are changing at a rapid speed. Your outbound messaging needs to change as the landscape changes. Focusing concise messaging to your Right to Win categories will land you new opportunities to thrive in a down market.

What’s Your Right to Win?

Right to Win is defined as the prospects/brands that best fit your prospective client profile of a perfect client. Whether it is focused on an industry, size company, regional location, etc. They are a brand that essentially should have been a client yesterday because there is no other firm more qualified or set up to work with them to achieve their marketing goals.

Here’s how using Right to Win can get your 2022 really booming in the 2nd half of the year:

1. Right to Win clients close faster

This is because they are brands you are familiar with, you understand their business at an intimate level, and the brand most likely recognizes that expertise because of your team’s language, pitch, and website focus. Faster deals mean more growth and profitability.

2. Pitch when you are the front runner

Pitching is far from an exact (or even fair) science. It is a costly and timely process that can pull your team’s focus to a project that, potentially, you never had a chance to win in the first place. Unfortunately, you do not know that until the end of the pitch, so let’s be sure we are only pitching those that we know are the front runners, or in the case of proactive outbound pitching, are the only ones pitching.

3. The right clients maximize all areas of your business

The inbound are low-hanging fruit and the revenue feels like it’s just right there, only we know from decades of experience that taking a client because they generate revenue, rather than them being our strategic best fit can have many unintended consequences on profitability, churn levels, and employee engagement. Right to Win clients are set up to maximize profit, reduce churn, and increase employee engagement…don’t settle for revenue, aim to maximize everywhere.

Brands Are Hungry For an Expert to Help Them Stand Out

While there is a lot of talk about recession, Auto is the vertical that has hit recession-level declines. Most verticals are still spending and will be planning and spending more than they did in the previous quarter. Now more than ever, brands want to hear from an expert that understands them and can help them stand out in a meaningful way. It’s time for your agency to focus on that expertise and drive those Right to Win clients right into your agency’s open arms.

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Recap of Strategies from the Mirren New Business Conference

Recap of Strategies from the Mirren New Business Conference

We heard a lot of things this year at the Mirren New Business Conference. Aside from all of the excitement and thankful words about being at a conference in person, there were some very consistent (and important!) messages being sent from the myriad of expert speakers about new business strategies to grow your revenue this year. 

Here were some of the key new business strategies we enjoyed this year:

Pacing outbound sales efforts

Outbound sales takes time. If you want to build a proactive pipeline of opportunities that you have the highest likelihood to win you’ll need to treat this like a marathon, not a sprint. If you are looking at new business in 3-month segments, you aren’t ready for a new business program. You should be viewing new business in 18-month plans. Agencies that have been really successful have built their process and plans around this 18-month timeframe. Remember, planting a garden on Monday doesn’t feed your family on Tuesday, so continue to tend your garden, expand it, and in time you will reap the rewards.

Recruiting top talent

New Business is key to retaining and recruiting talent. During the Great Resignation, what could be more important than finding great talent to work at your firm?  Driving positive, exciting new business will not only help your revenue and bottom line, but it will help ensure that people actually want to build their careers with your team.

Diversifying your client base

Q1 and Q2 have been slower for many, and you are not alone in feeling like inbound pitches have slowed from what we all saw in 2021. While we have seen reports that brands continue to plan to spend more in the 2nd half of 2022, many have felt the crunch of stalled projects and reduced scopes. It’s time to further diversify your client base to protect against these forces.

Expanding work with your current client base

Organic growth can be proactive as well. You don’t have to wait until a client tells you they need more, you can help them find new solutions that expand on your scope of work. The agencies that really separate themselves from the pack are the ones that not only win a piece of business, but they consistently grow that piece of business throughout the years.

Staying in front of your prospects

“Brands are always looking, but you never know when they are actually looking”. A confusing sentence to be sure, but the point is, you always have to be there if you want a brand to find you. There are no days off when it comes to new business and keeping your agency in front of the brands that you most want to connect with.

Building your lead gen engine

There are a lot of channels for growth, outbound does not work alone. Inbound can define who you are because in order to have an effective inbound program you have to create specific, valuable, expert content that will attract the exact types of prospects that you want to work with.

Acing the discovery call

The objective of your new business call is not to sell your prospects, but simply to learn enough to get to the next meeting. People want to work with people they like, and what people like are people who listen to them and understand their problems.  Two ears – one mouth…use that ratio when deciding whether you talk or listen at that first new business call.

Taking on project work

Be willing to earn the right to the retainer…many agencies want to jump right into the marriage, they want the Agency of Record (AOR) and retainer relationships, but there are many brands that just don’t have those needs immediately. Allow yourself to be open to projects that can organically grow into those retainers in the future.

 

These are just some of the highlights from Mirren Live in Kansas City this year. While Catapult has always been at the forefront of proactive new business strategies, it was exciting to hear agency experts of all sizes continue to reinforce the value that proactive sales can offer to agencies. Want to continue learning more about proactive new business development? Join Catapult’s email subscription Insights with Catapult to receive monthly content like this one. 

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Agency Burnout: Pitch After Pitch is Killing Staff Morale

It’s no secret; the business development process is grueling.  Even Digiday reported in an article earlier this year, ‘Never not on a pitch’: Staffers feel burnout amid agency pressure to pitch new business with fewer resources.” Staffers are, now more than ever, constantly pressured to pitch new business with fewer resources. All of this pitching is leading to one inevitable place… burnout. Agency new business has never been more competitive and things won’t be slowing down anytime soon.

How can agencies avoid this burnout and grow?

The answer in many cases is simple: be more selective. Easier said than done, right? To be more selective, you first need to clearly define who you want to work with. This means being very strict about who you absolutely do not want to work with.

Prioritize your pitchable brands by:

  • Choosing those within your agency’s Right to Win.*
  • Ensuring there is a passion for the brand (vertical, consumer type, etc).
  • Knowing which services and scopes are actually profitable.
  • Finding scopes that matches your expertise.

*What do I mean by Right to Win?
If you can say that there is a “right to win” then you can prove it through case studies and past work examples. When you show prospects this, they will want to work with you just as much as you want to work with them.

Stay Out of the Waiting-On-The-RFP Game

If an RFP comes across your desk that doesn’t fit within these parameters, leave it alone. I know it’s hard to turn away from a potential payday, especially when a feeling of uncertainty surrounds your new business pipeline, but you can be risking profitability or employee churn by putting your teams on projects they aren’t passionate about. Once you have set these parameters, do not stray! Agency new business is a lot like dating. If you know what you’re looking for, you’re more likely to find it, so stay out of the waiting-on-the-RFP game and get into the proactive biz dev game.

Just like in your personal life, being proactive vs. reactive will always lead to better results. Get out there and start hunting for new prospects that fit your agency’s Right to Win. Utilize email, social, and resurgence of in-person events to connect with those brands that you are most passionate about and focus on planting the right seeds of growth with them. 

They may not be a quick fix for cash that some of these ill-fitting RFPs may inject, but what they will do is set your team up for long-term business development success. Happy employees lead to happy clients, and eventually more rewarding work for your agency.

 

So there you have it. A few tips to avoid pitch burnout and set your agency up for new business success. Agency new business is a process, but if you’re strategic about it, the right clients will partner with you when you need them most.

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New Business Trends of 2022 – Part 3 of 3

We’re rounding out 2022 new business trends with a focus on Experimental Budgets. Those elusive and magical dollars are set aside to try new things and open new channels for brands.

We know that marketers’ budgets for testing are continually increasing, but now more than ever is a time when these budgets are no longer afterthoughts. The Pandemic’s disruption colliding with a huge diversification of media and an acceleration of new consumer behaviors means that marketers are having to try new things and look for new creative avenues and media channels to put their budgets. They are doing this too with full knowledge that a large portion of these budgets may not get them a Return on Investment (ROI) immediately.  

Skip the Procurement Approval Process

The ROI conversation is a big one because when you are in a testing mindset, as these brands are, you are willing to look at ROI differently in order to evaluate a campaign more holistically. Rather than just “did sales increase?”, marketers are exploring how else these campaigns may affect the brand image/recognition as a whole. This open-mindedness opens new opportunities for an agency to get their foot in the door.

We have seen this play out over the past 12 months in a number of ways. Recently, one of Catapult’s clients was speaking with a direct-to-consumer mattress company about their 2022 growth goals. They had already set their performance marketing budgets for the year, but what they set aside was $150k/month to try new channels. Because they already have these dollars budgeted, the marketers themselves can sign off on new partners without having to go through the typical CMO/procurement approval process, saving a massive amount of time and energy for our agencies. While $80k may not be a huge initial project, that is a monthly budget, so the calculus is that the program you are running is going to be fantastic and you are going to be able to continue all year – totaling closer to an overall $1 million client.

What the Data Tells Us

If these budgets are easier to get signoff, how do we know they are out there happening at an increased rate? We looked at the data. In 2021, we looked at the number of new agency relationships added to the Winmo database vs agency relationships ended in the database. You would expect these to be close to a 1:1 ratio if you assume these are retainer relationships, one agency wins a new piece of business, and as such another loses. 1 new win, 1 new loss. What we actually saw though was that new relationships happened at double the pace of ending relationships. Essentially, brands are hiring more agencies for projects and experimental work at an increasingly fast pace.

Further evidence to this was looking at our select group of over 50 agencies within the Catapult group and we found that 72% of our agencies’ new work started last year was in the form of an initial project, not a retainer. There are certainly retainers out there to be had and won (and increasing RFPs back that up), but the quicker decisions being made by marketers right now in mass are those with a project background.

We aren’t saying that you only consider project work moving forward. What we are saying is that when you go into an initial fact-finding call with a new brand, be aware of these experimental budgets and keep it in the back of your mind as they talk about opportunities that do or do not exist currently. While they may not be out there searching for a new Agency of Record, we are sure they are looking to find a new way to break through to different audiences and there is money to be spent.

 

The Key Trends Impacting Agency New Business in 2022

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The 12 Ads That Made Us Smile This Season

And on the 1st day of Christmas, my true love (ahem, Winmo), gave to me…

With holiday cheer in full swing, we’re taking a break to celebrate the 12 days of Christmas with our partner Winmo, our clients, and to appreciate the campaigns released this season. 

Catapult is rounding up the top ads that made us smile, and we hope it brings you some cheer too. 

1. Aldi | EBanana Scrooge

We can’t get enough of the fruits and vegetables in Aldi’s holiday ads. The retail chain takes a fun holiday spin on their core message promoting better-for-you options in order to reach health-oriented consumers. We love this year’s edition with a banana and a fun spin on the classic story of Ebenezer Scrooge. McCann WorldGroup gave us this campaign, and it all started with the iconic A Christmas Carrot ad and Kevin the Carrot.

What we’ve known about Aldi during the past two years is that it’s digital ad spend increased, and that trend has continued in 2021 and into the holiday season, according to Winmo Sales Predictions. Learn more with Winmo.

 

2. Amazon | Kindness is the greatest gift

If we learned anything as a collective group this year, it’s that empathy is the glue that keeps us together. The sentiment of this ad hits on emotion and feeling of belonging we’ve all craved during the holiday frenzy. 

The agency Lucky Generals zeroed in on this emotion and communicated the value of kindness over materialism perfectly, showing us that there is a genuine place for this brand in our lives. 

 

3. Disney | The Stepdad

The in-house team at Disney debuted the Christmas Short “The Stepdad” this season and it was a tear-jerker. All we can say is get the tissues ready.

 

4. Etsy | Give More than a Gift

The brand worked with 72andsunny to make a big marketing push for the holiday season, according to Winmo Sales Predictions. The message behind the advert reminds people that connecting with your friends and family is what makes the holidays so meaningful. 

 

5. Home Depot | Does Santa Shop Here?

The Home Depot named BBDO as its creative AOR just this year, and within months released the brand’s holiday campaign. The ad features real retail associates from Alaska and showcases just how far their customer support will go to keep a customer happy…in this case by keeping Santa’s identity a secret.  We love that they’ve kept this lighthearted and close to the brand’s mission.

The Winmo research team reported earlier this year that The Home Depot selected OMD as its media AOR as well. Winmo is predicting that with these two new agency relationships the brand will be increasing their media spend in the New Year. Learn more with Winmo.

 

6. Lego | Rebuild the World

Another beautifully crafted ad that shows how kids can build and rebuild whatever they want using their imagination with Lego products. The ad was created by Lego’s in-house agency and is another stunning spot for the brand’s Rebuild the World campaign, originally launched in 2019.

 

7. Macy’s | Tiptoe and the Flying Machine

BBDO New York created a loveable character named Tiptoe who we met during the Thanksgiving Day parade. They’ve brought Tiptoe back for the holiday season, this time in an advert where the reindeer realizes her dream of joining Santa’s Sleigh Team. It’s cute, it’s inspirational, need we say more?

 

8. Planters | A Nutty Holiday

Ok this one deserves a spot on our list because, well to put it simply, nostalgia. Or NUTstalgia as the ad cleverly puts it. The new work awarded to VaynerMedia after an acquisition by Hormel positions Planters, or what is more notably recognized as Mr. Peanut, as “A Nut Above”, the tagline introduced earlier this year. We’re loving the throwback. 

 

9. Peloton | When Your Workout is a Joy, It’s a joy to workout

Another classic holiday favorite, the story of Scrooge, has been spun by the agency adam&eveNYC to share the joys of working out with a Peloton. Ahead of the New Year / New Me resolutions, this ad is sure to inspire those looking to boost their workout routine. And it really does look like fun, even for a Scrooge.

There’s a lot more activity ahead for the brand in 2022. Learn more with Winmo.

 

10. SNL + HomeGoods | What real moms want

I know, I know, not a serious advert, but the SNL skit was hilariously good and we couldn’t help but add it here. It really did make us smile. The family of brands HomeGoods, TJX, and Marshall’s tends to target women of most ages, and the skit so perfectly hits on the holiday dynamics between mothers and daughters.

 

11. Toyotathon | Bookstore

 

Saatchi & Saatchi put together a spot that shares a heartwarming story of togetherness and community with Toyota at the center. The agency has been leading the campaign for the new 2022 Tundra, which is prominently featured in the advert. 

 

12. Wegmans | Happy Together

Lastly, we picked this cute advert from Wegman’s. It’s another advert that really shows the reason for the season, being together. The agency Optic Sky brought this one to life and shows us how Wegman’s brings people together during the holidays.

 

 

The message is clear this year, brands want to find a place in your life where you can make genuine connections with other people. We’ve thoroughly enjoyed putting this list together, and hope it brings you happiness this holiday season!

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