Agency New Business is Rarely This Quick…But It’s Great When It Happens!
We recently had a new client win a $700k piece of business from an insurance company within the first two months of prospecting on the agency’s behalf.
Only about 20% of our clients see closure in the first six months of the program.
Most of the people we reach out to on behalf of an agency (looking like we’re part of the agency) don’t know who the agency is. The expectation we set is that agency clients will start seeing meetings after the first month of prospecting and we know historically 30%-50% of the meetings we set turn into some kind of bid, pitch, or proposal within a few months after the meeting.
So to see a client convert in the first couple of months at this level was fantastic!
How did it happen you ask?
They are focused in what they offer – which helps. When we prospect for our agency clients, we more often than not zero in on specific sectors and talk about our expertise in that sector. Being everything to everybody just doesn’t work as well.
The list we built was very targeted to the right size/type companies – so just like a direct mail effort where list is 1/2 the equation, here it works the same.
The client supported our effort with great mailing collateral, great content, and super case studies.
Without these things, you can’t bring your value to life nearly as well. They very early proved to be a great collaborative partner.
The New Business Director dogged it!
The New Business director was given a couple of contacts in the company by our list group, but she dug deep and connected with everyone in the prospect company – raising awareness for our agency client – which ultimately got them involved in the review.
We did our part to help move it to close.
The client shared their responses and presentations with us – we offered counsel like we do with all of our clients on how to best move things closer to close – and with their talents leading the way, they found themselves a new, 3/4 of a million dollar client!
Sounds so simple! Wouldn’t it be great if they all came to fruition so beautifully!
Principles here that we follow and you need to think about are:
- Find your focus (doesn’t have to be just one) and stick with it!
- Make sure you market your business. You can’t sell air!
- Don’t give up. Put on your damn sales hat!
- Make it about them and not about you.
Our goal is to make this happen for every client. But we know darn well it won’t. But if we go in well-armed into a program with a client that is well engaged and supportive – and one that can sell – there’s no stopping the successes we can achieve!