What’s Wrong with Ad Agency New Business Conferences: 4 Things

Obsolete Boondoggles in the Modern Age of Training

 It’s late in the fourth quarter and the time when  agencies invite me to visit and take a look at their new business efforts from this past year. I run a diagnostic test that examines what works and what doesn’t at small-to-midsize independent agencies. This requires some painful Q&A.

The first question I ask the agency principal is “What did you do to win new business this year?”

The first answer I usually get is, “Well, we went to NY in the Spring for a new business conference.”

Me: “How was it?”

Them: “Well, we won’t be going back.”

I’ve heard this so many times over the past 6 or 7 years that I’ve lost count. Of course, I ask why; and the reasons are invariably the same.

  1. It’s expensive.  When you add airfare, hotels, NYC restaurants to a conference imagesregistration fee you’re making a minimum investment of $5k per key employee. It might be worth it if you know it worked. But…
  2. Disseminating the content is challenging. Assuming someone took great notes, it’s still difficult to capture all the elements necessary from a live setting. The learning resides with one or two agency people. Cascading the information accurately throughout the agency is a common complaint I hear.
  3. The content is dated and similar every year. For those few agencies that do go back a second time, they pretty much get the same old playbook with a new wrinkle Unknownhere or there. Chaucer said “There is nothing new under the sun.” Boy was he right
    about New Business Conferences.
  4. The content is not effective in the modern economy. The “big takeaway” at these conferences is that your agency needs to be a category specialist. It’s a round peg/round hole approach.  It was somewhat relevant in the awful and fear-driven economy of 2008-2011. But, it’s a weak application today in the booming, modern economy. You’re paying a ton of money for content that was born in a world prior to uber, AirBnB, Amazon and Facebook.

Please make it stop. There has to be a more cost-effective, internally efficient and fresher way to impact your agency’s business development program. There has to a better method led by proven coaches that actually won new business at an ad agency like yours. There will be…and just in time for 2018. Stay tuned to mikepalma.com

 

 

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