Use Down Time to Do Some Good
While some advertisers are putting the brakes on spending, this may be a good time for your agency to look towards bulking up other streams of revenue. Author and New York Times writer Rob Walker recently took note of agencies' extracurricular activities, which are ranging from launching clothing lines to signing book deals. Walker muses that while these are all good ideas, he wonders if agencies should pursue endeavors that boost their image and do some good for others? He believes that by tackling a social or environmental issue in the public spotlight, agencies can use their persuasive skills to support a cause, while investing in the future of their agency and most likely scoring new business in the process. "Such a campaign could prove an excellent means of retaining top talent…and an agency that could demonstrate how its persuasion prowess made the world a better place would definitely stand out in a pitch meeting," he writes. "Such a campaign might actually help the overall image of your profession… Maybe you'd have a convincing case study to point to that shows your profession-or your agency, at least-has something going for it besides innovation and smarts: actual values." Read Walker's article, "Ad Business: Do Something Useful!" in its entirety here.