The second most read FUEL LINES article in 2008 and the one that generated the most debate: Is it the end for cold calling as an agency new business tactic?
I thought I would follow keep the conversation flowing by taking my own poll with a new Twitter tool, twtpoll. So far there have been 119 responses to the question, “How receptive are YOU to cold calls?” An overwhelming majority of respondents, 69%, provided a negative response when it came to cold calls. 29% said they were sometime receptive and only 3% said they were often receptive to a cold call.
“Ask any agency principal what he or she dislikes and avoids the most and the answer will almost always be the same: cold calling new business prospects. Not only is this the most dreaded activity among C-level agency executives, it’s also among the least effective.”
Is Cold Calling Ever Necessary?
Cold calling, as a new business tool, is only necessary if your agency principal(s) do not have a clearly defined focus and differentiating business strategy that will give them a competitive advantage for new business, a higher-profile reputation, and an improved ability to attract and win the clients they really want.
Without a point of differentiation your agency will have no appeal. Trying to appeal to everyone appeals to no one.
Today’s CMO lives in a world where traditional marketing practices are no longer acceptable.
“80% of decision makers say they found the vendor, not the other way around.”
- Don’t want to be interrupted
- Have found ways to screen out, throw out and tune out unwanted marketing messages
- Use online tools and techniques to seize control of their buying and vendor selection process
- Seek out the information they want how they want it and when they want it
How does this impact ad agency new business?
The growth of Social Media will dramatically impact how agencies promote themselves in the future. Agencies that must rely on cold calling as a new business tactic will find it even less effective in 2009.