The key for consistently generating new business opportunities is to develop a new business program that your agency can consistently execute and sustain.
As you create a new business program for your agency you should think in terms of “what is sustainable when our agency is at its busiest”.
Here are 3 things your program must have to be consistent:
1. Be realistically achievable within the culture and resources of the agency
Set realistic goals. There are a lot of agencies, when asked what are their new business goals will say, ”we want to double in size” or ”we want to take our agency to the next level”. This aren’t realistic goals unless you have an actionable plan that provides for the resources, personnel and budget to be fully implemented.
2. Have a manager who is empowered and held accountable for its execution
If everyone is responsible for your agency’s new business then no one is responsible.
Someone must be accountable, have the authority and ability to drive it. There’s a lot of pushing, prodding and poking that must be done to keep the new business program working. Someone must be responsible for keeping it focused and on track.
3. Top management must be intimately involved in the process
No one in the agency feels the pressure to succeed more than the agency principals. Like it or not, they are the face of the small-to-midsize agency. Their involvement is important for new business and they shouldn’t shy away from this responsibility. To maintain consistency, new business, must be a priority in their daily responsibilities.
- Mandate that your agency has an integrated new business plan. Unbelievably, 62% of agencies don’t have a planned new business effort.
- Define your agency’s positioning. This is the starting point for any ad agency new business program. It is a fundamental prerequisite for small and midsize agencies. But it is also the place where most agencies where most fail. Positioning is everything.
- Choose a target audience. This will not deter your agency from still obtaining “other” type of clients through your personal networks and referrals within your local market, but it will go a very long way to creating awareness, appeal, differentiation and focus for your agency’s new business program. It makes new business so much easier when you do.
- Resolve to stay the course. New business efforts are relational and take time to come to fruition.