In our recent survey on Ad Agency new business, principals of Agencies note they continue to struggle with finding and maintaining effective new business managers.
69% of all respondents in the survey stated they replaced (on one or more occasions) the new business manager they brought into the Agency to help them build business.
The top three reasons cited for this failure remains consistent with what we’ve seen in year’s past:
1. Didn’t understand our Agency
2. Didn’t have a solid methodology
3. Got too distracted with other Agency things
Finding the right person is challenge enough.
Keeping your new business manager focused is even tougher.
In this study and in studies from years past, Agency principals note they have a tendency to pile it on – giving new business managers way too many responsibilities so they can’t do what they need to do, which is keep the pipeline full.
So what’s the answer: Create the Village.
In this new world of needing to be more aggressive about finding and winning new business, virtually everyone in the agency needs to embrace some part of the new business undertaking in order to keep the new business manager focused and create as many opportunities as possible.
Some things to consider in your own Agency:
- Assign different people, different tasks (e.g. list building, news gathering, mailing, social media, copy writing) so your new business manager can stay focused on finding and unearthing opportunities;
- Establish incentives for your account people so they can be on the lookout for organic opportunities within existing clients;
- Actually design a plan and stick to it. Treat the marketing of your Agency just like you’d treat the marketing of your client. Lay out objectives, tactics, and timing.
Just because you hire that new business person doesn’t mean your job is now done.
Everyone in the Agency needs to be thinking about the business in a whole new light.
Without the Village, it’s going to be tough to get the job done in this brave new world.