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The New Business Development Strategy: Turn Your Efforts Upside Down

Agencies everywhere are finding new business development to be a greater and greater challenge. And, unfortunately, the business development strategies of most agencies are destined for failure. 1.  Unattainable growth rates are often needed to achieve agency growth objectives 2.  The investment required and the low odds of winning pitches is debilitating 3.  The stress on organic growth is intense and rarely achieved 4.  Too much reliance is placed on a small group of senior “sellers” 5.  Difficulty “standing out” in pitches leads to expensive, wasteful theatrics 6.  Cold calling experiences are generally unsuccessful and de-motivating If you experience some of these challenges, your team is not alone! Most agencies face these challenges – hence an opportunity exists to re-invent the industry’s new business development strategies. The Problems with Agency New Business Development Strategies Today Most agencies approach new business development in a three step fashion that is fundamentally flawed: 1) Competitive Pitches and Reviews These are by far the biggest area of focus for most larger agencies. Reviews get most of the business development resources – in people, focus and money. Reviews, however, can be a fools’ paradise: you must make it through the questionnaire stage against a dozen other agencies just to be a finalist (1 in 12 odds) – and then, upon becoming a finalist, the odds are generally only 1 in 4 that you will win. If you do the math, there is a 2% chance of being awarded the business at the time you receive the questionnaire. There must be a better strategy! And yet, while this is such a bitter place to invest – because many of the largest accounts are awarded through a review – it is easy [...]

By |October 2nd, 2018|

How Do Advertising Agencies Get New Business with John Heenan

If there’s any one “system or process” that agencies really struggle to put into place and consistently execute on – it’s agency new business development. You know you need to do it. You know your business literally depends on it. And yet, you let client work and other fires steal your attention from this mission critical aspect of owning an agency. But, how do advertising agencies get new business? My podcast guest John Heenan and I had an amazing conversation about getting back on track and making sure that new business is no longer an afterthought. He has spent time on both sides of the aisle, on the client side with Sony, and Philips and Uniden and on the agency side as CMO and new business leader. He can show you how to find those great clients and make your process work much more efficiently and effectively so you can implement your agency new business plan both consistently and well. Let John and I help you flesh out an agency new business plan of attack that you can stick to with:   The experiences John had on the client side that led him to working on matching up agencies and clients Why cohesive culture throughout the agency matters for clients How do advertising agencies get new business Why you must treat your agency as your #1 client Crafting the first impression that leads will have of your agency The importance of getting crystal clear on what your agency is selling Director of Delivery: an important role inside modern agencies to make sure agencies deliver to clients Why agency owners need to get out of the day-to-day and focus on new business What John does differently to [...]

By |July 13th, 2017|
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