The Secret Weapon for Advertising Agency Business Development: Being In the Know

In the dynamic landscape of creative media, production and advertising, staying ahead of the curve isn't just a strategy—it's a necessity. For business leaders in advertising agencies navigating this competitive terrain, the ability to anticipate trends, understand market shifts, and forge meaningful connections can spell the difference between success and stagnation. 

Yet, amidst the cacophony of information, one tool emerges as the secret weapon for those at the forefront: being in the know. 

Recently, an LBB member revealed a discreet yet potent approach to new business development and staying in the know: leveraging the news section of a particular website as a strategic compass. As a multifaceted platform, LBBOnline serves to inform those in the industry on the work, the people, the awards and the opportunities surrounding them. Members use the site to search the news section, jobs board, or creative library to see. This online resource isn't just a repository of updates; in many cases it's a treasure trove of insights, enabling companies to track the movements of other advertising agency execs and producers, monitor account wins, and tailor their pitches with surgical precision.

This underscores a fundamental truth: in today's hyper-connected world, knowledge isn't just power—it's profitability. For leaders, the strategic utilisation of industry intelligence isn't merely a choice; it's a cornerstone of their success. LBB wants to delve into the subtle yet transformative role of curated information in shaping business outcomes.

Speaking with three industry leaders from advertising agencies in the UK and US, we find out about not just the 'how' but the 'why' behind the strategic reliance on such resources, illuminating a path for aspiring entrepreneurs and established moguls alike to harness the power of knowledge in their pursuit of excellence—and new business.

The most important part of my job is being in the thick of the industry. It's what gives you a cutting edge. And while yes, new business databases and newsletters exist, once a pitch has hit the press, it's usually too late. Relationships are everything—with consultants, with your peers, with industry leadership, with clients, with your sister agencies, and with journalists. You must actively participate in the industry conversation and constantly be on the pulse of what's happening.

On top of that, I refer to my team as the heartbeat of the agency. I love that we are jointly responsible for new business and PR because they feed one another. Great work attracts new talent, new talent attracts new opportunities, new wins create momentum, and so forth. In addition to all of that, it's my team's job to market our advertising agency. So often, agencies overlook the power of their own brand. Get out there, join the conversation, have a personality, and use your clients and employees as your brand's biggest advocates. 

At Uncommon, we look to dance on the fault-lines in culture, the frictions and discussion points that create debate and fame. You can’t get there by getting high on the same oxygen as everyone else.

So my advice to those at other advertising agencies would be to get out in the real world and soak it all up. Hunt in the most unexpected places if you want unexpected answers and insights. Talk to your neighbour, your distant cousin, people at the checkout. Delight in difference and puncture your bubble.

And closer to home, ditch your adland robes and invest your time and energy in being part of wider creative industries. Collect references that make you feel something. Read, watch and consume things daily that challenge your conventions. Develop crushes on brands, studios or anyone challenging the status quo and that has made you think differently. Be curious and seek to learn from your partners and clients.

Our industry is at its best when we really capture the mood of the audience we’re trying to speak to as well as doing it in ways that surprise us too. You can’t do that by copying the person next to you.

LBB is always such a great point of reference to seek out the very best global work. Given the broad reach of countries the content covers, you're always sure to find something unexpected. 

As a CMO and growth leader for Leo Burnett, it is integral to my role that I am aware of various new business triggers and align myself with any potential partnerships, whether it be a contact or a business, to create opportunities for the advertising agency. I need to know trending topics, what’s keeping clients up at night, which brands/agencies are pushing the limits, who has momentum, what campaigns are in market, changes in client leadership, and more. I look to many different sources, tools, key industry publications, such as Little Black Book, organisations, such as ANA, 4As, and AAF, and events, such as ANA Masters of Marketing, to stay informed.

It’s not a job to stay updated, it’s a personal and professional imperative. Those who excel in a creative industry, have minds and passions constantly fed through ideas and knowledge.

I reference LBB on a regular basis. LBB is particularly beneficial at providing a breadth of advertising and competitor news across the industry and the world, from executive news to thought leadership, which helps me stay informed and up-to-date on agency business developments. I also recommend that my team review LBB’s various news channels regularly. 

Another area where LBB excels is sharing the perspectives of professionals from every end of the industry and across all levels. There’s something to read and learn from every point of view.

If you'd like to use our tools to promote your advertising agency, email us at membership@lbbonline.com, view more info about how LBB can help here, or purchase a membership here.