Why “Fix It Now” Doesn’t Work For New Business

We’ve all been in a situation where “Fix It Now” becomes a mantra we repeat over and over in the face of a problem that could have been avoided with preventative measures.

Bill Schick, founder of MESH interactive in Boston, had an insightful post on LinkedIn around this topic, and as ever, I looked at it through the new business lens.

You can read the full post here, but essentially his initial point is:

Resolutions typically fail because they’re based on prevention.

More in his post:

A 70-something relative of mine has been drinking his whole life, with few consequences. His doctor has always advised he reign it in, or else…

But he wouldn’t.

So, a few weeks ago, he was admitted to the hospital with dire news: things have gotten so bad that he cannot have another drink. Ever. Or else.

But he still has to CHOOSE not to drink.

And he’s CHOOSING to stick with it.

Why? Because, as humans, we work in a funny way.

We don’t care so much about prevention—but we absolutely love a cure.

For example: Your software can prevent a cyber attack? Hmmm… let me sit on that one for 6 months.

Oh no, we’ve been hacked, I need that fixed NOW. I don’t care the cost—just fix it!

Sound familiar?

When given the choice, always market/sell the hero/cure, not costly prevention.

It’s a solid post, and in the example of his relative, illustrates the point starkly.

And Bill is exactly right on selling the hero/cure, but as I mentioned previously, I thought about it from a new business perspective, and how often agencies find themselves in that “fix it now” situation.

It’s typically when a key client or key client contact is taken out of the equation and therefore, key revenue is affected.

In those cases, it’s not like Bill’s antivirus example, where you can literally fix it now, or close to it.

Why is that?

Here’s one reason, a stat many of you may have heard before:

Only 3 percent of your prospects are ready to buy now.

It’s been cited in countless reports and posts like this in Hubspot’s blog.

And it’s that case where “prevention”, i.e. some kind of new business strategy, has to be in place for your firm.

And just in case you’re not convinced, a stat from our recent report (RSW/US 2020 New Year Outlook Survey Report):

Marketers expect marketing spend percentage decreases for the fourth year in a row in 2020. (62% in 2016 versus 50% in 2020 RSW survey).

In order to be a hero, to yourself and your employees, you need to get that plan in place.

Only that prevention will safeguard your firm for the future.

Avatar

I'm the VP of Sales at RSW/US. We specialize in working with services firms to help drive and close new business-if you need help with that, email me at lee@rswus.com. What I actually do: drive sales efforts to bring ad agencies and services firms on board with RSW, create content around successful new business tactics and help drive RSW/US marketing objectives, including social media channels, blog content, webinars, video and speaking engagements. Dig it.