Partnering with another agency can be a great way to leverage your time and talent to pitch more new business, but it comes with risk if you don’t establish the right systems, just as you would for any other sales effort.
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A 12-month plan encourages us to think big. And it’s the bigness that also gets us in trouble because it’s big enough to ignore. What if you were to shrink a twelve-month new business plan into twelve weeks focusing on quarterly milestones rather than annual goals?
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What does it mean to build a “culture of new business” within an agency? It’s a phrase that gets bandied about but doesn’t always get defined in terms concrete enough to be effective. Here’s where you might start.
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An elevator pitch is a fundamental agency new business tool. It’s meant to get your message across quickly and effectively to a prospective client and opens the door for a deeper sales conversation. But a lot of agencies make common mistakes that lead to a weak pitch. Here’s a way to test the strength of your agency’s elevator pitch.
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Agency new business doesn’t work well as a democracy. It’s better when it’s a benevolent dictatorship where all ideas are heard and considered but, ultimately, one person makes the judgment call.
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Your agency's list of clients and prospects is a valuable business asset. And like any asset, the more you invest in it, the more valuable it becomes. Here are four ways to get more new business value from your agency’s list of contacts.
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Agency business development success is often measured by revenue. And of course that’s a good qualitative measure—did you make your numbers or didn’t you?
But a lot goes into a successful new business operation, both quantitative and qualitative. Wouldn’t it be great to have a scorecard that objectively measures where you are today and keeps you accountable for the improvement you want to see? Here’s one way to start:
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When it comes to pitching for new business, agencies are so accommodating!
They put in late nights and give up holiday weekends. They divert their best teams from paying clients to do spec work. They put up with terrible briefs and minimal information.
Are they too willing to play on the client’s terms for the chance to compete for new business?
I’ve identified four points in the pitch process where agencies should set their own terms, both for the sake of the future client relationship and their ability to pursue new business from other clients.
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New business is one of those responsibilities that should be fully integrated into your daily schedule. But for a lot of agency leaders, it's not. I think it’s why new business plans fail. Here’s a framework to help you operationalize your new business strategy and a roadmap for prioritizing activities on a daily, weekly, quarterly, and annual basis.
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I’ve seen my fair share of healthy relationships between agency owner and new business person. But unfortunately, unhealthy relationships outweigh healthy ones. Here are five things you can do to ensure you’re embarking on a satisfying collaboration that will lead to increased revenue, healthy agency growth, and a more sophisticated approach to pursuing the right clients.
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You’ve decided to hire your first salesperson for your agency. The need is acute: not enough good leads, an overreliance on competitive RFPs, and a poor pitch-to-win ratio. It seems logical to hire someone qualified to help. But, the decision to hire must be based on scaling your agency, not digging it out of a hole. Here are two important indicators that you’re ready to hire a salesperson.
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