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31 facts on winning new business pitches for ad agencies 0

Posted on May 22, 2017 by Rob Petersen

winning new business pitches

Winning new business pitches is a key barometers of success for any ad agency.

On Google, if you search the phrase, how to win an ad agency pitch, you’ll find 11.7 million entries. That’s means a good number of people are looking for the answer to this question.

In the titles of these entries, you’ll find words such as “rules,” “playbook,” “guide,” “tips” and “tactics.” In other words, someone’s else opinion.

This article doesn’t pretend to have that wisdom. Instead, here are 31 facts on winning new business pitches broken out into categories so you know by the numbers;

  • What are chances for success
  • What works against you
  • What works.

WHAT ARE CHANCES FOR SUCCESS

  1. 96% of ad agencies have participated in a new business pitch. (Provoke Insights Study)
  2. 49% are general ad agencies and 23% are digital, 9% are brand consultancies and 8% are media. (Provoke Insights Study)
  3. Average closing rate in the U.S. is 43%. (Cubeyou)
  4. New business pitches cost ad agencies between $15,000 and $20,000 to prepare. (Cubeyou)
  5. The average amount of work that goes into each proposal is 150 hours. (Cubeyou)
  6. Small to mid-sized receive 10-12 requests for proposals (RFPs) a year. (Cubeyou)
  7. 299,000 Google results for “best advertising blogs.” (Peter Levitan)

WHAT WORKS AGAINST YOU

  1. 80% of agencies say the New Business Director lasted less than 2 years. (Smart Insights)
  2. 66% have no methodology or business development plan for winning new business pitches. (Smart Insights)
  3. 53% of clients investigated 6 or more agencies in addition to your agency for the preliminary review. (McKinsey)
  4. 48% of clients said their previous agency relationship lasted less than 2 years. (RSW/US)
  5. 47% of ad agency professionals are dissatisfied with their agency’s current approach to winning new business ptiches. Unrealistic timelines and long hours are the primary reasons. (Sanders Consulting Group)
  6. Average Client-Agency Relationship has shrunk from 7.2 to 2.8 years. (Media Post)
  7. Average CMO tenure has decreased from 48 month to 44 months. (Spencer Stuart)
  8. 33% of the CMO’s in the study are new to their job as of 2015, the largest percentage since 2004 (Spencer Stuart)
  9. Clients typically invite 3 agencies to pitch when there is a full-blown review. (RSW/US)
  10. Most clients take 2-3 months before a final appointment is made. (HubSpot)

WHAT WORKS

  1. The best marketing and advertising agencies in US close on average 85% of the pitches and participate in 6 times more than the other agencies. (Cubeyou)
  2. Creativity and Strategic planning represent more than half of the total cost. (Cubeyou)
  3. To improve strategic planning, agencies say important areas to apply resources are: 57% against the target audience, 53% for competitive intelligence, 53% for industry trends, 47% for industry intelligence and 42% for social listening. (Provoke Insights Study)
  4. 96% of executives said “chemistry” was the key factor. (Launch Engineering)
  5. 82% of executives select an agency who they believe “differentiated” themselves from other agencies. (Launch Engineering)
  6. 61% of executives said the agencies they’ve selected had a confident, articulate team. (Launch Engineering)
  7. If you close 60% of your new business pitches, your new business effort will be profitable. (Cubeyou)
  8. 50% of executives suggested agencies need to develop “a new business culture.” (Launch Engineering)
  9. Clients generally enjoy the process of looking for a new agency, with 41% of respondents saying they either “look forward to it” or “enjoy it.” (RSW/US)
  10. 41% are not happy with their current agency’s strategy and thinking; 40% cite lack of pro-activity; 39% are not happy with creative and 33% are looking for new ideas. (Holmes Report)
  11. 39% of executives said passion for the client’s business, demonstrated by a “seamless link between strategy & creative.” (Launch Engineering)
  12. Only 33% of executives said brilliant creative was enough to win the pitch by itself. (Launch Engineering)
  13. 23 of agency appointment now involve a procurement specialist, so don’t ignore them. (RSW/US)
  14. 22% of clients use a roster system, suggesting that most clients use other means to learn about the strength and value of agencies in consideration. (RSW/US)

Do this facts on winning new business pitches make sense to you? Do facts serve as a better guide than rules and playbooks? Do need help winning new business pitches or selecting the right agency for your business?

52 ecommerce stats every business should know to grow 0

Posted on May 08, 2017 by Rob Petersen

ecommerce stats

Ecommerce stats show we buy more online from more devices in more places and at more times of the day than ever before. And this migration is going to continue.

But ecommerce consumers are savvier. They have high expectations and demands that, if not met, cause them to go elsewhere and not likely to return.

To help your business get the most from this movement, here are 52 ecommerce stats every marketer should know to grow.

WHO BUYS? AND HOW MUCH?

  1. $394.9 billion are ecommerce sales for 2016, an increase of 15.1 percent from 2015. (U.S Department of Commerce)
  2. 191.1 million U.S. online buyers. (Statista)
  3. 98.9 million online buyers who have purchased at least once via a mobile device (Statista)
  4. $1,800 in the U.S. and $1,600 in the U.K. is how much the average eCommerce consumer spend per customer over the course of the year  (Statista)
  5. 80% of the US population has made an online purchase; 50% have made more than one. (Business Insider)
  6. 67% of Millennials and 56% of Gen Xers prefer to shop on online rather than in-store. (Big Commerce)
  7. 54% of online purchases are made by Millennials. (USA Today)
  8. E-commerce sales in 2016 accounted for 8.1% of total sales compared to 7.3% of total sales in 2015. (U.S Department of Commerce)

WHAT ARE BUYING BEHAVIORS?

  1. 51% of Americans prefer to shop online. (Big Commerce)
  2. 58% of consumers say their least favorite part of shopping online is paying for shipping. (Small Biz Trends)
  3. 55% of consumers would rather interact with technology in store than a sales associate. (Forbes)
  4. 49% of parents say they cannot live without online shopping. (Big Commerce)
  5. 46% of online shoppers read social media reviews and blogs before purchasing online. (Selz)
  6. 46% feel online review help make them feel confident about their purchase and 45% feel they make companies be accountable to their customers. (Pew Research)
  7. 39% of Americans have shared their experiences or feelings about a commercial transaction on social media platforms. (Pew Research)
  8. 30% of all products ordered online are returned as compared to 8.89 percent in brick-and-mortar stores. (Small Biz Trends)
  9. 25% of online shoppers are age 54 or older. (IBM)
  10. 23% of shoppers are influenced by social media recommendations/reviews. (Big Commerce)

WHERE ARE WHEN DO THEY BUY?

  1. 85% of customers start a purchase on one device and finish it on another. (Google)
  2. 82% of Americans consult online ratings and reviews when buying something for the first time. (Pew Research)
  3. 72% of Millennials research and shop their options online before going to a store or the mall. (Forbes)
  4. 65% of Americans indicate that when they need to make purchases they typically compare the price they can get in stores with the price they can get online and choose whichever option is cheapest. (Pew Research)
  5. 62% of smartphone users have made a purchase online using their mobile device in the last 6 months. (Outer Box)
  6. 44% of retail internet minutes were spent using a smartphone device, while 11% were spent using a tablet, as compared to just 45% spent using a desktop. (IBM)
  7. 43% of online shoppers have made a purchase while in bed. (Big Commerce)
  8. 43% of e-commerce traffic comes from Google search (organic) and 26%  comes from Google Adwords. (Wolfgang Digital)
  9. 40% of Americans (and roughly half of those under the age of 50) indicate that they nearly always turn to online reviews when buying something new. (Pew Research)
  10. 23% of online shoppers have made an online purchase at the office. (Big Commerce)
  11. 20% of American online shoppers have purchased from the bathroom. (Big Commerce)
  12. Only 11% of users access the Internet via desktop only – almost all users are using multiple devices. (comScore)
  13. 22% of consumers spend more as a result of using digital; just over half of these shoppers report spending at least 25% more than they had intended. (CMO)

WHAT ARE EXPECTATIONS?

  1. 92% of U.S. customers would consider delivery within 2 days to be ‘fast delivery’, but only 18% would consider delivery within 5-7 days as fast. (Criteo)
  2. Over 90% of people buying on Amazon wouldn’t purchase an item with less than three stars. (Feedvisor)
  3. 75% of reviews on eCommerce sites give the full 5 stars. (YOTPO)
  4. 71% of shoppers believe they will get a better deal online than in stores. (Selz)
  5. 69% of online shoppers want more reviews from ecommerce sites. (Big Commerce)
  6. 66% of online shoppers have decided not to buy an item because of shipping costs. (Big Commerce)
  7. 44% will abandon their shopping card if the shipping cost is too high or if there are unexpected additional charges. (Receiptful)
  8. 40% of customers are fine interacting with chatbots. (Forbes)

WHAT CAN YOUR BUSINESS DO TO BENEFIT?

  1. Using product videos on eCommerce sites can increase product purchases by 144%. (Small Biz Trends)
  2. 88% of shoppers characterize detailed product content as being extremely important. (Forbes)
  3. 74%of small business websites have no eCommerce. (Small Biz Trends)
  4. 60% of shoppers actually read your return policy before completing a sale, and the return policy ultimately influences 80% of the sale. (Small Biz Trends)
  5. 60% of consumers have completed a “buy online” to “pickup in-store” purchase via mobile. (Forbes)
  6. 50% of mobile coupons that are redeemed are captured from a retailer’s site by the consumer. (Neilsen)
  7. 58% of the Top 1000 US online retailers send welcome emails. (Internet Retailer)
  8. 39% of smartphone users have redeemed at least one digital coupon in the past year. (Neilsen)
  9. 30% of mobile shoppers abandon a transaction if the experience is not optimized for mobile. (Marketing Profs)
  10. 30% of mobile coupons are obtained from specialty sites like Groupon and Living Social. (Neilsen)
  11. 20% of grocery store sales are expected to come from online by 2025. (CNBC)
  12. At least 15% of retailers will offer a price match guarantee. (Biz Journals).
  13. Online sales in the United States are expected to reach $523 billion, up 56% from $335 billion in 2015. (Forrester)

To know what’s next in ecommerce, here is an infographic from the Villanova School of Business.

Do these ecommerce stats you see how your business can benefit. Do you need building an ecommerce plan for your business?

ecommerce stats

4 best practices for building a referral network (Infographic) 0

Posted on May 01, 2017 by Garret Norris

Referral Network

Referral network refers to a group of business owners and professionals who try to promote each other to gain more leads and sales. It’s a highly effective strategy for building business because it’s based on trust. Here’s why it works:

  • 92% of people in business trust referrals from people they know
  • 87% of front line sales reps, 82% of sales leaders and 78% of marketers agree that referrals are the best leads you can get
  • 86% of companies with a formalized referral program have increased revenues over the past 2 years (Source: Digital Intelligence Today)

What’s the best way to create one? Here are 4 best practices for building a referral network with an infographic.

  1. CONNECT WITH PEOPLE RELATED TO YOUR INDUSTRY: The first step to building a referral network is to dedicate time to meeting people in and outside your industry. To determine who this should be, ask yourself: What sort of products or services would your customers benefit from the most? Who are the best people to provide those products or services? Who are the best local providers for such products or services? What value can you provide for their customers?
  2. SEGMENT YOUR REFERRAL NETWORK: Evaluate connections and divide them into three segments: 1) Those most likely to need what you offer, 2) Related businesses in the same industry or who have the same Buyer Persona and 3) Totally unrelated businesses but important to your customers.
  3. HAVE A CHECKLIST FOR GIVING REFERRAL: When you give a referral to your one of your customers, base it on the following considerations: 1) RELEVANCE: Make sure a referral you give is relevant to their situation, 2) QUALITY: Refer only those who deliver on what they promise and 3) AUTHENTICITY: Avoid overrating a referral and keep your customer’s need the priority.
  4. MAXIMIZE VALUE OF YOUR REFERRAL NETWORK: Building the referral network is half the work.  You need to learn how to use the network so you and your connections can mutually benefit from the gains of each other. Consider: 1) Collaborating with people in your network on an assignment, 2) Use their products or services and 3) Offer them an incentive to use you on one of their assignment.

If most sales and marketing professional rate a referral network as their most effecting business building asset, why wouldn’t you have one?

Below is the infographic from Business Coaches Sydney on building a referral network for your business.

Do these best practices help you in creating one?

Referral Network

About the Author, Garret Norris: For over 15 years Garret has been one of Australia’s leading Corporate Sales, Management Training and Coaching organisations. Garret has been improving the performances of business Managers, Leaders and Sales Teams. Garret simply gets results!

50 compelling facts how online video boosts business 0

Posted on April 24, 2017 by Rob Petersen

online video

Online video now accounts for nearly 70% of consumer internet traffic.

With its rise, the conversation about online video has evolved from ways to create video content to how to get the most out of it?

To help answer this question, here are 50 compelling facts how online video boosts business.

  1. 98% of millennials watch videos on smartphones, compared to 56 percent on computers. (Animoto)
  2. Viewers retain 95% of a message when they watch it in a video compared to 10% when reading it in text. (Insivia)
  3. 93% of Twitter videos are watched on mobile. (Twitter)
  4. 92% of mobile viewers share online videos. (Animoto)
  5. 90% of information transmitted to the brain is visual, and visuals are processed 60,000X faster in the brain than text. (3M Corporation and Zabisco)
  6. 87% of online marketers use video content (Outbrain)
  7. 85% of Facebook video is watched without sound, (Digiday)
  8. 82% of Twitter users watch online video content on Twitter. (Bloomberg)
  9.  Including video in a landing page can increase conversion by 80% (EyeView).
  10. 80% Of Millennials use online videos when researching a purchasing decision. (Animoto)
  11. 80% of internet users who recall watching a video ad on a website they visited in the past 30 days. Of that 80%, 46% took some action after viewing the ad. In fact:
    • 26% looked for more information about the subject of the video
    • 22% visited the website named in the ad
    • 15% visited the company represented in the video ad
    • 12% purchased the specific product featured in the ad (Online Publishers Association)
  12. 77% of professional marketers and SMB owners are seeing results with video marketing. (Animoto)
  13. 75% of smartphone viewers watch a video to completion, while only 25% watch videos on desktop to completion. (Animoto)
  14. 75% of executives watch work-related videos on business websites at least once a week. (Forbes)
  15. 73% of B2B marketers say that video positively impacts marketing ROI. (Tubular Insights)
  16. 70% of marketers have found video produces more conversions than any other type of content. (Small Biz Trends)
  17. 65% of people who watch the first three seconds of a Facebook video will watch for at least 10 seconds, and 45% will watch for 30 seconds (Facebook)
  18. Video of a live event increases brand favorability by 63% (Twitter)
  19. 61% of young executive say they will rely more heavily on online video in the next 5-10 years (Cisco)
  20. 60% of marketers use videos in their social media marketing. (Social Media Examiner)
  21. 60% YouTube subscribers would follow advice on what to buy from their favorite creator over their favorite TV or movie personality (Google)
  22. 59% of executives agree that if both text and video are available on the same topic, they are more likely to choose video. (MWP)
  23. 55% of people consume videos thoroughly — the highest amount all types of content (HubSpot)
  24.  52% of marketing professionals worldwide name video as the type of content with the best ROI. (Syndacast)
  25. 52 percent of mobile traffic is a search for video. (Animoto)
  26. 54% of senior executives share work related videos with colleagues weekly (TubularInsights).
  27. More than 50% of videos are watched on mobile. (Ooyala)
  28. Almost 50% of internet users look for videos related to a product or service before visiting a store (ThinkWithGoogle).
  29. Marketers who use video grow revenue 49% faster than non-video users (VidYard).
  30. 48% of marketers plan to add YouTube to their content strategy in the next year (HubSpot).
  31. 48% of millennials view video solely on their mobile device. (Business of Apps)
  32. Almost half (46%) of viewers say they’ve actually made a purchase as a result of watching a branded video on social media and a third (32%) say they’ve considered making a purchase as a result of watching a video. (Animoto)
  33. 45% of internet users view at least one online video every month. (comScore)
  34. 45% of people watch more than an hour of Facebook or YouTube videos a week. (Wordstream)
  35. 43% of marketers said they’d create more video content if there were no obstacles like time, resources, and budget (Buffer).
  36. 43% of people want to see more video content from marketers in the future (HubSpot)
  37. Companies which use videos in their marketing enjoy 27% higher CTR and 34% higher web conversion rates than those which don’t. (Aberdeen Group)
  38. Using the word ‘video’ in an email subject line boosts the open rates by 19%. (Syndacast)
  39. U.S. online video ad spend projected to teach $17 billion by 2020. (eMarketer)
  40. Snapchatters watch 10 billion videos a day. (AdWeek)
  41. Periscope users have created more than 200 million broadcasts (Periscope)
  42. 1.8 million words. That’s the value of one minute of video, according to Dr. James McQuivey of Forrester Research.
  43. 50x easier to achieve a page 1 ranking on Google with a video (Forrester)
  44. More video content is uploaded in 30 days than the major U.S. television networks have created in 30 years. (Wordstream)
  45. Native videos on Facebook have 1oX higher reach compared to YouTube links. (Social Bakers)
  46. Videos are 6X more likely to be re-tweeted than photos and 3X more likely than GIFs (Twitter)
  47. 4x as many customer would rather watch a video about a product than read about it (Animoto).
  48. Blog posts incorporating video attract 3x as many inbound links as blog posts without video. (Moz)
  49. People spend on average 2.6x more time on pages with video than without (Wistia).
  50. Online shoppers who view demo videos are 1.81x more likely to purchase than non-viewers (DMB Adobe).

Hubspot created the infographic below to give you more guidance on online video and your business strategy.

To these facts help you see how online video can boost your business? Does your business need help with online video marketing?

online video

30 fascinating facts about Organic vs Paid Social 0

Posted on April 03, 2017 by Rob Petersen

Organic vs Paid Social

Organic vs Paid Social.

Social media is the most genuine form of marketing. Organic social media posts come from you and go directly to your page or your company’s page. Paid social media also come from you but give your post the ability to get in front of people who don’t already follow your social channels but share desired demographics, interests and values.

Is one more effective than the other? Do they work better together? What’s the right balance?

Here are 30 fascinating facts about Organic vs Paid Social.

  1. 100% of the Top 100 Global Brands have run YouTube ads in the past year. (Hootsuite)
  2. 86% of marketers now combine paid and organic tactics as part of their social media strategies. It’s rare for social media marketers not to use organic and paid social media together.(Clutch)
  3. 80% of enterprises say social media is the most important factor in digital marketing success. (Social Media Week)
  4. Over 70% of marketers plan to increase their use of video ads in 2017 (Hootsuite)
  5. 66% of marketers cite Facebook as their preferred social network. (Business.com)
  6. 61% of marketers report their biggest challenge is measuring ROI from social channels (Simply Measured)
  7. 64% of people use social media to find inspiration for shopping (Crowdtap)
  8. 59% of marketers believe Paid Social is more effective than Organic Social. (Clutch)
  9. Over 50% of B2B marketers rank social media as a “very” or “somewhat” low cost ad option. (Marketing Charts)
  10. 43% of both B2C and B2B companies say they use organic and paid social media equally. (Clutch)
  11. 36% of businesses use social media analytics for more than competitor analysis. (Sprout Social)
  12. 34% of small businesses use social media to engage and converse with customers. (Sprout Social)
  13. 34% of marketers cite You Tube as their preferred social network. (Business.com)
  14. 33% of marketers cite Twitter as their preferred social network. (Business.com)
  15. 31% of traffic to all websites comes from the Top 8 social networks (Shareaholic)
  16. 30% of marketers cite LinkedIn as their preferred social network. (Business.com)
  17. 27%of marketers said audience growth was the most important metric to track, followed by website clicks (19%), and engagement. (17%). (Clutch)
  18. 27% of B2B marketers identify social media as an “indispensable” tool for content distribution (Regalix)
  19. 25% lift in conversions for paid social media compared to organic social media (Converto and AOL Platforms)
  20. 24% of marketers cite Instagram as their preferred social network. (Business.com)
  21. 13% of larger companies only do organic social media. (Clutch)
  22. 10% of followers, on average, are reached by organic tweets (Bitly)
  23. 2% is organic reach of Facebook. (Cision)
  24. Social media advertising spending is expected to reach $37 billion in 2017
  25. 300 million people actively use voice and audio calling features on Facebook Messenger. (Forbes)
  26. Facebook is closing in on 2 billion active users. (Venture Beat)
  27. 1,500 and 15,000 pieces of content that Facebook could potentially show in your news feed each time you log on to the site. (Mari Smith)
  28. Of the 1,500+ stories a person might see whenever they log onto Facebook, Facebook News Feed displays approximately 300. (Facebook)
  29. 338 is the average number of friends that users have on Facebook, a big big increase compared to 130 back in 2008. (Mari Smith)
  30. The number of YouTube channels earning 6 figure is up 50% year-over-year. (YouTube)

Do these facts help you understand Organic vs Paid Social? What the role is for each? Do you need help figuring out the right balance for your business?

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    BarnRaisers builds brands with proven relationship principles and ROI. We are a full service digital marketing agency. Our expertise is strategy, search and data-driven results.



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