The Growing Pains of Agency New Business Development

Agency New Business can be quite a pain….particularly for those not knowing the importance of keeping on task – and those expecting it to be an overnight sensation.

In the summer of 2008 I was introduced to a new client based in Michigan. This client was struggling with account losses and personnel cut-backs. They tried managing the agency new business process inside, without success.

After hiring RSW/US, the agency worked closely with us, shared successes, built collateral that was in line with our recommendations, and was collaborative in sharing ideas to achieve success.

This client won an AOR relationship from one of the largest healthcare providers in the state, won business from one of the largest employment companies in the country, and is on the verge of winning other major pieces of business. They’ve since hired back a number of agency personnel lost during the cut-backs.

When they signed on I had to be extremely upfront about the time it takes to build new business. I told the principal that we weren’t going to be the “pot of gold at the end of the sixth month rainbow”. This principal understood and agreed to work with us despite my best attempt to scare the heck out of him.

Reason I bring this up is that for every client like this, there are plenty out there who stop and start their own agency new business efforts, plenty who don’t take the time to build the right messaging and collateral, and plenty who don’t keep their eye on the ball and patiently stay the course to win new business.

It’s easy to overreact, particularly when things aren’t as good as they can be. Take your time and give yourself time. Look at your world objectively. And make sure you’re realistic about what you can and can’t win.

And most of all, know that it’s going to be painful. No pain, no gain…right?

5 responses to "The Growing Pains of Agency New Business Development"

Adam Mortimer 12/09/2009 23:34 pm Reply

I think you very clearly outline the rigours involved in new business (organic) growth. I would also like to know some of the specific tactics you may have undertaken; Target identification? Making the right approach? Overcoming the realities of 'no' – coz that happens to; the cost of pitching etc etc – I really think you can go much deeper here as you clearly have done the yards… thanks Adam
Mark Sneider 08/10/2009 21:32 pm Reply

Adam,

Thanks for the post.

We use a very organized, "McDonald's like" methodology surrounded by a lot of smart, marketing/sales people representing their respective clients. There isn't any single magic bullet. I've said in posts in the past that alot of it is about consistency: consistency of messaging, consistency of methodology, and consistency of outreach. Here is a piece I wrote on the topic last year: http://rswus.com/news/pdfs/Article_MyAgency.pdf.

Just because someone says "no" today, doesn't mean they are a "no" tomorrow or a year from now.

Another key is adding value – making your agency stand out from the schlocks that just pound their chests and talk about how great they are.

Hope that helps.
www.agencynewbusiness.com 22/04/2011 04:11 am Reply

Growing pains of agency new business.. Very nice
- Lee McKnight Jr 22/04/2011 09:09 am Reply
  
  Thanks for visiting and for your comment!
Mark Sneider 07/05/2011 05:03 am Reply

Thanks and we will!