Ad Agency New Business-Are You Getting A Little Too Comfortable?
Agencies tend to push an active new business strategy to the side until something wakes them up. That “something” generally tends not to be good.
Then there are those agencies who get it, and they find a way to keep new business active, and while that’s to be commended, even these agencies tend to overlook some important reminders.
Here are 4 of them:
1) Don’t get too comfortable.
Are you? Because your competition (and those new shops) are waiting in the wings for some of your most valued clients.
Oh, you know that, it’s an ongoing concern, so don’t worry about what you can’t control, but make sure your team stays sharp-are you continually learning and thinking about ways to up your chops?
Are you showing your clients you’re ahead of the curve when it comes to new tools, strategies and technology?
2) Don’t take your team for granted.
I’m talking all your teams, not just new business.
If they’re doing a great job, make sure and tell them once in a while, take them out for drinks.
And conversely, if someone isn’t getting the job done, hard as it might be, cut the cord sooner rather than later.
3) Your competition? They’re good.
OK, not all of them are good, and your attitude should be, “hell yes, we’re better,” but stay realistic. Just like your teams internally, don’t take the competition for granted either. (You know, hubris and all that.)
4) Marketers get distracted by shiny new things, just like you do.
But in this case, that shiny thing is one of your above-mentioned competitors, or a new shop. If they’re a prospect, it always pays to revisit your messaging-is your positioning disciplined and focused for example?
You’ve got to explain, succinctly and in the marketer’s language, why your firm is the best choice.
And if that marketers is a current client, that shiny object may very well take one of your clients one day, and while politics, budgets and other crap can influence the decision, this time they were better, or at least shinier.
Learn from it.