There are probably 1,000 reasons why you can’t do any business development today:
I hate cold calling.
Our largest client wants to make changes to the copy.
I have a headache.
Our best leads come from referrals.
This coffee is awful – I’m going to Starbucks.
I have to go over the new health insurance plans with our insurance agent.
Any of these sound familiar? I’m sure you could probably rattle off another ten without even thinking about it.
THREE reasons why you SHOULD
Instead of focusing on the reasons why you CAN’T shake any trees today, try focusing on the THREE reasons why you SHOULD commit to doing new business development every week.
1) Take a look at the mix of your client roster.
I’ve spoken with many marketing agencies about why they have come to RSW/US to help them with their new business development.
One of the most common answers is that 80% or more of their business comes from ONE CLIENT.
What happens to your agency if that client goes someplace else? Is that remaining 20% of your business enough to sustain your business, let alone grow your business?
If the answer is no, then you need to pick up the phone and call a few prospects today.
2) Take a look at your competition.
There are hundreds of agencies, freelancers and other businesses, such as printers and IT companies, who are out there, talking to your current clients and your prospects about ways they can do what you do better and cheaper.
In this tight economy, marketers are more focused than ever on the bottom line.
A client you have been able to count on for a few $25K projects throughout the year now has a freelancer making updates to the website and coordinating social media at one-third of what you were billing.
There is always someone else out there who could do what you do for less money. Hoping your clients don’t realize this is not a solid growth plan.
3) Take a look at where you want your agency to be five or even ten years from now.
Now take a look at where your agency was five years ago.
Whether it’s a valid business strategy or not, many marketing agencies adjust their internal talent/resources based on their clients’ needs.
Five years ago maybe you didn’t do enough programming to need that weird kid with what I can only describe as a neon green golf tee piercing his ear.
Now this kid runs your team of eight programmers. Keeping your internal resources current requires money, for new people, training and other capital investments such as computers and other equipment.
Where is that cash coming from?
You can always find a reason NOT to do something.
If you spend more of your time focusing on these reasons NOT to do business development, you might not have a business to worry about next year.
Now stop procrastinating by reading this blog and pick up the phone today.