Our recent webinar, Frustration Breeds Opportunity – Tensions between Agencies and Marketers, describes dynamics that increase the challenges for new business development.
Just a couple among them are:
1. Marketers tend to be consolidating agencies
2. A majority of agencies express intent to be increasingly aggressive in new business activity.
2015 is almost a quarter old now, and your new business plan should be in place and operating at full throttle.
So, it’s a good time to assess how your plan is doing at this point, and update tactics for Second Quarter.
Look at what is working well and do MORE of that. Adjust and reinforce elements that could be delivering more.
We touched on accountability for your new business program in the webinar, and it might be one of those areas to review.
Accountability is critical to new business success. It’s not uncommon to hear from agencies that new business is “everyone’s responsibility”.
Or, “we have a team”, with the team meeting at set intervals to review new business opportunities.
And when these people have other responsibilities in the firm, especially client responsibilities, new business often takes a back seat.
If new business keeps getting moved to the to-do-list for “tomorrow”, no one really has accountability for it.
Forbes posted a column late last year on accountability skills for business success.
It is written more generally, coaching business leaders on nurturing accountability for the energy and success it drives. Yet, the skills this article identifies apply directly in agency new business.
Each of the skills is very important, but I wanted to call out Forbes’ #4 – “Clear Vision and Direction” – relating an old Chinese proverb: “The hunter that chases two rabbits catches neither one.”
How many rabbits are you and your people chasing?
See that the New Business Rabbit has a dedicated hunter.
It’s clear the industry will continue to become increasingly competitive.
Keep your firm in the hunt with the focus and accountability your future deserves.