MediAvataar's News Desk
Experience has shown that a good new business manager in an advertising agency has a different mindset from the majority of her established colleagues. Such a mindset is essentially entrepreneurial and these persons have a knack of sniffing new business opportunities with greater enthusiasm. This attitude actually stems from the survival instinct of a keen business woman that if new business is not coming then it is not possible to survive and grow in a competitive market.
Managers may be classified into either Maintenance Managers or Entrepreneurial Business Managers. A good maintenance manager services existing accounts well and keeps clients happy. But she lacks the power and energy to go the extra mile. An entrepreneurial manager not only does her job well keeping clients happy, but also searches for new opportunities through new challenges that appear to her.
An entrepreneurial manager sees a recessionary market as an opportunity. The marketer is constantly reviewing the brand’s performance, marketing inputs & strategies including advertising. The client is always looking for innovative solutions for his brand. An entrepreneurial manager is able to demonstrate her interest by presenting a fresh perspective to the problem. She can also rise up the career ladder faster.
One of the basics of preparation is to make a list of prospects by category. Parameters used to gauge the ‘satisfaction index’ may be Category, company, brands, size of business, agency/s, number of years with existing agency, level of dissatisfaction with current agency, top managers of the client company and proposed new launches / brand extensions. For example, one could make, as a rule, 10 cold calls in a month, generating responses from at least 4 and convert at least 2 pitches.
At this stage one may prioritise the ‘hit list’ on the basis of the reputation / brand, size of business and its potential, satisfaction index, agency’s experience in the category, and contacts at the client’s office.
New business prospects may be categorized as cold, lukewarm or hot accordingly as when contact establishment, pitch presentation opportunity and short listing /negotiation has been completed.
A few tips handling new business pitches:
1. New business calls should not be delegated. It is a top management responsibility and the likelihood of success is higher if it is treated that way. Business leads can come from anyone who matters in the prospect’s company.
2. Make one person at client’s office the ‘ambassador’ or your spokesman. He may not be a decision maker, but can be an influencer and informer.
• In a multi-agency pitch, go for over-kill. That means not only outstanding presentation but also creative ‘effects’ that leave a lasting impression. For example, when one of the world’s most reputed writing instruments company from the UK was entering India, McCann Ericsson made a pitch among others. The agency’s extra effect consisted of hiring an exhibition hall for the presentation and putting up for display, a collection of vintage writing instruments made by the prospect’s company since its inception along with old posters and other items connected with the brand in that Gallery. The team from UK was very impressed. McCann won the account.
• And this experience of ‘effects’ came to good use when McCann pitched on the Coca-Cola brand against formidable rivals Lintas. While the presentation was greatly guided by McCann’s Atlanta office, the ‘effects’ were mind-boggling. At Oberoi Mumbai, and with active support from the Hotel, the management had made to order a giant 6 ft tall Coca-Cola bottle made of ice. This was specially installed by the Hotel right in front of the presentation venue at the Oberoi. The Coca-Cola International team stood in front of the exhibit before entering the venue, completely ‘frozen’ for a few minutes, appreciating the ice sculpture. McCann Erickson won the Coca-Cola business easily.
New business is rarely won across the table. But sustained effort at pre-selling and post-selling often does the trick. Pre-selling is when you make an impression with the client before the actual presentation and they start believing that you are someone they can co-opt as their professional partner sharing the same passion for their brand.
Post-selling includes follow by up starting with a ‘Thank you’ letter for attending the presentation preferably with a token memento. Continue to engage the prospect’s attention. Send him competitive information, interesting news items relevant to his company/brand and specimens of your good creative work from time to time. He may not always send you a thank you note, but you will certainly be at the top of his mind.
Written by Tapas Gupta,Founder & MD BEI Confluence Communication Ltd.(Formerly President & CEO of a McCann-Erickson agency)
Good design ought to make a product or service more convenient, easier, and more enjoyable to use; not just visually attractive or distinctive. But what evidence do we have that people will pay more for a well-designed product?
In this post from a while ago I referred to analysis which finds that people paid over 20 percent more for brands with strong brand equity versus weak equity. The analysis was based on a data set which integrated attitudinal data for 79 brands, with behavioral data from Kantar Worldpanel and similar sources. Based on the purchasing data of 2,400 people we found that they actually paid more for brands that they perceived to be meaningfully different. But what about other types of brands, and does design help make a difference?
That is where the BrandZ database comes into play, because it covers many different types of brands, and asks whether brands are well or attractively-designed. I had previously examined a set of brands measured in both 2014 and 2017 and found that being seen as different from other brands was the only metric that seemed to anticipate how well a brand would grow.
To figure out what influence design might have on wider price perceptions I turned to Josh Samuel for help (you may have read his post about our relationship with Alibaba last week). As Global Head of Innovations at Kantar Millward Brown, Josh is the ideal person to help make sure that I do not report a bogus finding after playing around with data in Excel. Our overall conclusion was that good design can support perceptions of meaningful difference, and so does influence price perceptions.
Just as with the real pricing data, the variation in relative perceived price of brands across all categories can be explained by how meaningfully different the brands are perceived to be. 60 percent of perceived price variation across brands can be explained by brand equity. In turn 32 percent of that brand equity can be explained by the image statement “well-designed”. Put the two together and we see that about 20 percent of price variation can be explained by perceptions of good design.
Our analysis suggests that one third of the influence of brand equity is driven by perceptions of design. Of course, design may well have an even bigger influence on choice through its influence on choice during search and shopping. A well-designed brand should seem more attractive, and if it is visually distinctive it will be better able to stand out from the crowd.
Written by Nigel Hollis, Executive Vice President and Chief Global Analyst at Kantar Millward Brown.
Space bookings for the upcoming edition of Media Expo 2018 has taken a positive leap considering the rapid progress seen in the advertising industry of Delhi and the massive success gained by the previous show. Over 25 new companies from Mumbai and other cities are all set to test waters and expand their business in the fast growing markets of Delhi.
Post the successful edition that comprised of high energy networking and focused business deals, exhibition space at Media Expo 2018 New Delhi is reported to be 95% sold two months before the show. The 43rd edition of Media Expo New Delhi has witnessed a major surge in the participation of new companies and is expected to be fully booked in the coming weeks. The show that is scheduled from 7 – 9 September at Pragati Maidan has over 25 new companies from Mumbai and other cities like Jaipur, Ludhiana and Lucknow showcasing solutions to enhance the overall quality of brand campaigns.
Moreover, the advertising expenditure in India is expected to grow at 10.5% to touch INR 62,400 crore in 2018* and Delhi is emerging as one of the latest hubs for the advertising world. With some of the biggest advertising spenders situated here, Delhi has risen to as one of the largest markets in India that spends on advertising making this another high point for the exhibitors to display their solutions at Media Expo 2018.
Looking at the combination of a lauded past edition and booming dynamics of the industry in this region, companies from various sectors of the marketing and advertising industry are keen to exhibit their solutions at the 43rd edition of the show. Along with trusted exhibitors associated with the show, participating for the first time ever are companies like Sheth Printograph, Hacer Enterprises, Aaradhana, Technology Systems, Laser Lab India Pvt Ltd, Unidos InstaPrint, Sarthak Advertising, Siddharth Enterprises, L&Q India, Aar Kay Universal, Koncept Imaging, I-Print, Tarang Electricals, Lions Industries, Print Delta, Colors Digital India, Xenons Digital, Sun Digital Technology to name a few.
After receiving a successful response at the 2018 Mumbai edition and with an aim to accelerate their business and reach in the northern parts of the country, companies like Pal Associates, Unique Sign Innovations, Tanusha Enterprises, TimexBond Industries, Skytec Corporation, Laxmi Sales, Umiya FlexiBond, Nilkamal Ltd, Aludecor Lamination, and Can Image Media Tech will be displaying solutions that were well acknowledged in the Mumbai edition.
Bringing in a fresh wave of brands and companies to choose from, visitors from sectors like designers & consultants, brand marketers, ad agencies, media agencies, and retailers will get the opportunity to meet businessmen with new ideas, advanced solutions, and better price competency.
With the tables turning for the ad industry in Delhi, Media Expo 2018 will bring in new opportunities for the brand marketers and product innovators alike.
Catch the exciting season finale episode of ‘Open House with Renil’ on Sunday, July 29 at 7 PM only on zoOM styled by Myntra
The season one finale episode of the celebrated talk-show ‘Open House with Renil’ on zoOm Styled by Myntra witnessed the young and talented cricketer, Shreyas Iyer getting candid with Renil Abraham.
Shreyas, who scored immediate noticeability with IPL, talked about the advices he has received from his dear ones after entering the media frenzy world of cricket. Shreyas confesses, “After I joined the Indian cricket team, MS Dhoni advised me that I need to avoid reading the newspapers and should try to stay away from social media as much as possible. Social media has become a big part of our lives and I try to manage it well but it’s the criticism that motivates me and keeps me going.”
Adding further on how he handled the attention he receives from his fans, Iyer recalled how a girl’s behaviour, whom he knew from before changed after the news on auction was out. He shared, “Soon after the auction news was out, this girl whom I knew started messaging me. On confronting her as to why she is desperately trying to reach out, I got to know that she was doing so because she was happy for me. That’s when I understood that rather than getting to know me, she was behind the money,” recalls Shreyas.
A brilliant cricketer on the field and a great magician on the side lines, Shreyas Iyer has won the hearts of many Indians with his spectacular skills. We can only wait and watch what this young cricket star has to offer to his fans.
Tune in to ‘Open House with Renil’ on Sunday, July 29 at 7 PM on zoOM styled by Myntra to get a peek into Shreyas Iyer’s life.
A new YouGov study finds out the perception of women safety in India
43% Indians feel India is an unsafe country for women with 1 in 2 women and 1 in 3 men believing in the same. A majority of this belief comes from the North of India which is infamous for crimes against women.
9 in 10 citizens have heard about crimes against women, with over 50% people reading about it in the newspapers or coming across it on social media.
Around 43% people feel that the citizens, the Government, Judiciary and law enforcement bodies are all equally responsible for the sorry state of affairs.
Majority of people believe creating awareness about the plight of women in the country is the most effective way to deal with the situation. Interestingly, 43% men feel measures to raise awareness amongst men is the most ideal way to reduce the frequency of crimes against women to make the country a better place to live in.
Data collected online by YouGov Omnibus among 1,009 respondents in India between 10th and 17th July, 2018 using YouGov’s panel of over 6 million people worldwide. Data is broadly representative of the adult online population in the country.