By Category: New Business Strategies

Getting Ahead by Becoming a T-Shaped Ad Agency New Business Exec »

It's not just your performance that matters
Published on June 10, 2010

t-shapedSome new business execs shine in their role, but fail to contribute across the agency. In decades past, this "lone star" trait could lead to a successful career as "chief rainmaker", but nowadays it can lead to a dead-end job.

Morten Hansen, professor at U.C. Berkley and at INSEAD, France reports in a recent article that companies today require:

...a T-shaped manager that delivers excellent performance in his unit (the vertical part of the T) and contributes across the company (the horizontal part of the T).

In order to excel at T-shaped management you need to:

  • Believe that you have two responsibilities: achieve high performance in your own department/function, and contribute to the performances of other departments. For example, strong new business performance while also helping account execs grow existing clients.
  • Be an expert in your area: "Think of the vertical part of the T as your area of deep expertise" - it takes hard work to become an expert.
  • Know about other areas: know about all the areas of the agency so you can contribute effectively. Strive for what Morten describes as "modestly adept expertise" in the other departments. The more you know, the better able you'll be at collaborating and forging effective partnerships. This is the horizontal part of the T.
  • Have the right network: Build contacts within and without your agency. Offer your help to others and deliver on your promises. This will create power and influence without needing to have rank or power.When you need them you'll be able to call in favors.

How do you do this and still ensure high new business performance? It takes very effective time management, delegation, and "saying "no" to questionable cross-unit activities."

We've probably all witnessed examples of the person who always performs above expectations and is almost always available to help others be successful. I'm with Morten on this - it takes very good time management, delegation, and saying no. Which is easier said than done, but well worth shooting for.

 

The Power of Speed on Ad Agency Organic and New Business »

Response time is critical
Published on June 08, 2010

speedHow would you react if you learned today that responding to a prospect within one minute of their inquiry could improve your ability to win new business by 391%? Similarly, if you help your clients improve their response time they could generate more revenue, and your agency could win more organic new business? Read on to learn more.

A leads management provider called Leads 360 recently published a fascinating study on the power of speed to influence new sales. In short, new business opportunities seized upon quickly convert at orders of magnitude better than those that languish - where "languish" means anything over about 24 hours.

  • Leads called within one to two minutes of their being born convert 160% more often than the average.
  • 88% of leads that close are those called within 24 hours.

But the real kicker is this:

When you call new leads in under 60 seconds, the study shows an astounding 391% improvement over average conversion rates.

Why do you suppose that speed is so important? Is this just another by-product of the Internet Age? Or, are most consumers impulse buyers who quickly lose interest? On the contrary, the study's authors suggest something even more radical. Leads contacted in the first 60 seconds may not close that day, week or month. However, the impression of that immediate contact is lasting and forms a "bond" that has real value.

That's a compelling insight that can positively impact your business.

 

Impact on New Business - Questions to Answer

  1. Does your agency have a website form that prospective clients fill out and submit? Who receives the form? How long does it take to respond to those forms with a phone call?
  2. What happens to incoming calls? Do they get answered by someone in all cases? Or, do some end up in a voicemail box? How long does it take to respond to those messages?
  3. Do you track your speed of response? Assuming you don't, how could you? Who can you put in charge of response time to ensure that speed prevails?

Impact on Organic Growth - Questions to Answer

  1. How do each of your clients (whether B2B or B2C) respond to incoming leads? Have you mapped - and timed - the process from web-form submission to customer service/sales rep (assuming they don't have an online direct-purchase option or call center model)?
  2. What changes can you recommend to increase response times?
  3. What metrics can you put in place to measure the impact of improved response time on new revenue?
  4. How will you communicate the benefit of improvements in response time and revenue growth to position your agency to work on more of their business?

This is such a simple concept, but one that isn't necessarily easy to implement. It will be impacted by your CRM software, perhaps your phone system, your existing work processes, and ultimately your culture.

Regardless, with the prospect of closing four times as many new leads as we do now, I promise you that this is something we're going to be working on starting today. How about you?

 

Client Perspective: How Your Agency Should Engage With the CMO »

Insider tips
Published on May 20, 2010

cmoHow valuable is it to hear directly from three CMOs to learn how they like to be contacted, what you need to know about them before you do, how to pitch, and how smart you need to be about their business? If that's of interest, read on.

The current and former CMOs of Wyndam Hotels, Capital One Retail Marketing, and Cablevision sat down at the recent New Business Conference to discuss ad agency new business. They spoke candidly about how to prospect them. Their insights are similar to those expressed by the CMOs of large and small companies alike.

Here's what they said, written from the perspective of the CMO:

What you need to know about me:

  • Understand my business.
  • Understand my industry.

How to interact with me:

  • Have an idea about how to apply your expertise to my business.
  • Share your insights on my business. Tell me how we're doing. If you think we're doing something wrong, tell me so (respectfully).
  • Listen to me as we get to know one another. Respect me. Demonstrate that you were listening.

What you need to recognize about big companies:

  • I'm trying to stay one step ahead of other executives on the senior management team. How can you help me be smarter?
  • I'm the only voice of marketing on the team.
  • The board of directors is interested in ROI. Know how you're going to drive sales.

How to succeed working with big companies:

  • Educate procurement. Many procurement groups want to reduce the cost of agencies. The more educated they are about agencies, the better decisions they'll make.
  • When there are product groups in a company, make sure you're talking to both marketing and the product group(s).

What to remember when you're going to pitch me and my team:

  • Demonstrate results.
  • Show your emotion and passion.
  • Remember: the agency needs to be smarter than the client - that's why we're hiring you.

The best way to get on my radar:

  • Get referred in by someone I know; or,
  • Have something to say that's really relevant to my business.

This is great stuff. Hope you can put it to good use.

 

Nurture Your Crumbs to Create Continuous Revenue Growth »

Laurie Coots on growing your agency
Published on May 18, 2010

laurie cootsLaurie Coots is the global CMO for TBWA/Chiat Day. She's one of the smartest ad agency new business execs you'll ever meet. When she speaks, people listen. Laurie shared her thoughts on how to grow your agency at this year's New Business Conference.

I took away four simple and compelling points:

  1. Pick up a crumb and run with it. Pursue clients you want to work with. Incubate the small projects, as well as any other small clients you attract. Do great work. Great work will lead to more work. Crumbs Laurie pursued and grew last year created $11M in new revenue for TBWA.
  2. "Productize". Take what you're doing and put a price on it. Avoid charging by the hour. Consulting firm McKinsey and Co. does it this way; why not your agency?
  3. Learn to Sell. Quantify the opportunity. Get the decision makers in the room. [I'd add: ask smart questions, listen carefully, propose a solution, ask for the business.]
  4. Reinvent your behavior. Decide how you want to be, not how you think you should be.

Nurturing your crumbs is a perfect strategy to generate consistent revenue growth. In good economic times and in bad, focusing on smaller projects with growth potential gets you in the door early.

One of the great differentiators between agencies and their new business leaders is their ability to sell. If you really learn to sell, you'll stand out from the thousands that don't do it well.

I learned the power of "productizing" as a teenager. I had an odd-jobs business with two employees. When I charged by the hour, I knew how much money I'd make. However, once I created a product, I was able to charge my customers a flat fee and make much more. The technological capabilities of many agencies position them perfectly to charge a flat rate for certain services, and generate significant profits.

My last post about Alex Bogusky echoes Laurie's call for reinvention. Alex referred to it as "breaking the rules". However you choose to think about it, clients are looking for agencies that stand for something. You have the ability to choose who you want to be.

 

Alex Bogusky on Ad Agency New Business »

Cheating is okay
Published on May 13, 2010

break rulesIf you've ever had a dog, you'll recognize this: talk to them using a certain tone of voice and they'll cock their head to the side and look at you expectantly. They know you're talking to them, and they know it's important that they try to understand. Of course, understanding is hit-or-miss.

So it was for me listening to Alex Bogusky in April. I've read about Alex and Crispin Porter Bogusky and seen him quoted over the years, but this was the first opportunity to hear him speak, and his topic was new business. Remember, he's a creative guy and not every creative guy speaks new business. Which, of course, was one of the first things out of his mouth..."Why the f__k did I accept an invitation to speak at a new business conference?"

Perhaps I'm not the only one in the audience who felt a bit like the dog. My analytical, logical brain was trying to wrap itself around the words coming from the mouth of someone who's probably more creative in a day than I'll be in a year.

That being said, I did boil his remarks down to something that's thought-provoking to me. Here goes: Alex Bogusky on New Business in 50 words or less.

Definition: Cheating = Breaking The [Unwritten] Rules

Crispin Porter Bogusky's success in new business was breaking the rules that the previous generation created to protect what they'd created. Don't cheat if you don't want to win. Cheating is breaking the rules. If you break the rules, clients will think you're smart.

How do you cheat?

  • Identify the rule(s).
  • Break them.

As one of the rule-followers, implementing advice like this is hard. So I'll be looking for more creative people to help identify the unwritten rules that should be broken.

How can you break rules to help your agency be more successful?

 


Recent Entries

Small Touches Create “Wow” The First Time Your Prospect Visits Your Agency »

Be the guest
published on May 11, 2010

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Six Lessons on Ad Agency Pitches from Lorraine Rojek »

"Live Pitch" provides insights
published on May 07, 2010

pigsFor those who attended the 2010 New Business Conference, the annual "Live Pitch Competition" provides an opportunity to participate in or watch a random group of agency new business people prepare

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9 Steps to Close 60% of Your Ad Agency’s First Meetings »

Case Study: Cinquino & Co.
published on May 05, 2010

crisisWas your agency able to win new business from 71% of your first meetings in 2008? How about 60% in 2009? That's what one small agency in New Jersey accomplished after being on the brink of closing

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To Pitch or Not To Pitch - The Ad Agency New Business Question »

Only if you get paid?
published on April 22, 2010

pitcherFive year-old hot-shop Droga5 now only pitches new business if they get paid. Why? They know they win 60-70% of the time when they are, versus only 20% when they're not.

Other agencies pitch and

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2010’s Top Industry Categories to Drive Ad Agency New Business »

Latest information from research firm Mintel
published on April 21, 2010

categoriesKrista Faron, Lead Innovation Analyst at research firm Mintel, gave an inside look at the industry categories predicted to experience growth in the coming year during the recent 2010 New Business

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The New Business Power of a Snail Mail Thank You Note »

How does it make you feel?
published on March 31, 2010

thank you noteI received two thank you notes in the last month that were different from all others: neither was sent via email. One was an "old-fashioned", hand-written note from a friend. The other was from a

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Is Crowdsourcing a Threat to Ad Agencies? »

Interview with Victors and Spoils' John Winsor
published on March 25, 2010

crowdsourcingBrent Hodgins of Mirren recently interviewed John Winsor of Victors and Spoils, which calls itself the "The world's first creative (ad) agency built on crowdsourcing principles." John is a serial

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Is Procurement the Ad Agency New Business Enemy? »

Interview with Mattel's ex-procurement chief
published on March 23, 2010

procurementWhen you mention to a new business person that "procurement" is getting involved, the typical reaction is dread. You've built rapport with your prospect, established their need, demonstrated how

Read on...

How One Agency’s New Business Approach Distinguished Them From Their Competition »

As easy as...Above and Beyond Client Service
published on March 18, 2010

Set yourself apartTrue story from a week ago: Midwest branding and packaging agency seeks Midwest healthcare account. Agency gets to the top of the list of prospective partners - before even meeting with the

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Become The Voice of the Customer »

The glue in the marketing organization
published on February 24, 2010

silosThe marketing organization inside many of your larger prospects or clients is becoming increasingly fractured and siloed, creating a big opportunity for agencies to exercise leadership and vocally

Read on...

Hot Categories for Ad Agency New Business - Today »

Where and how to successfully prospect
published on February 18, 2010

hot off the pressThere are only a few people in the U.S. who have a broad-based and in-depth view of the proactive new business market, and who can speak to all geographic regions, industry categories, and types

Read on...

The Failsafe New Business Committee »

7 ways to make your committee more effective
published on February 09, 2010

FailsafeMany smart ad agency Presidents create new business committees with the best of intentions: bring together the best and brightest in the agency who touch new business, give them a mission and

Read on...

Guest Post: Taking New Business Dating to the Next Level »

Know your type
published on December 18, 2009

dating typeThis is a guest post from Craig Kavicky, Vice President at Big Red Rooster, an independent research, strategy, and design company in Columbus, Ohio.

 

In recent posts, Todd has referenced the

Read on...

How Not To Be The Talk Of The Prospect’s Office »

"Jarring" is not the reaction you want
published on December 11, 2009

talk of the townA few weeks ago I wrote about how not to self-destruct during your first meeting. Unfortunately, in this true story the agency became the talk of the prospect's office. Here's the back-story.

Read on...

A Tablet to Cure Magazine Ad Sales Blues? »

Wonderfactory prototype is an exciting development
published on December 03, 2009

media decoderThe Wonderfactory, in collaboration with Time, Inc., helped design the prototype of what Sports Illustrated magazine might look like on a tablet computer.

Revealed on December 2nd, this innovation

Read on...

The “So What” Behind a Prospect’s Pain and Aspirations »

Reveal the answer to close more new business
published on December 02, 2009

so whatBefore a prospect can become a client, they have to clearly understand the value of working with your ad agency or marketing services firm.

Does your current new business process demonstrate what

Read on...

The Other Reason Why Your Clients Buy Marketing Services »

Help them create a new future
published on November 23, 2009

aspriationThe common approach to selling marketing services is, "Find their pain, and then show how you can solve it." But, if you only focus on your prospect's pain, you're leaving half the potential new

Read on...

How to Build Rapport, Before Talking New Business »

People do business with people they like
published on November 13, 2009

genuine85% of buyers of marketing services state they're more likely to purchase from a provider with whom they've established some kind of personal chemistry. This was cited in a white paper I read

Read on...

Great Rainmakers Sell While Serving Their Clients »

Stay true to yourself
published on November 09, 2009

keys to serviceTo many marketing services providers, sales is the equivalent of checking your values at the door and becoming a slimy salesman. Your mental image is along the lines of getting a prospect to part

Read on...

Knowing What You’re Worth: Part of Your New Business Allure »

The issue is timeless
published on October 30, 2009

SteinmetzKnowing what your services are worth and being able to articulate and sell the value to a prospect is a critical new business skill.

I was recently emailed the following story, which was delivered

Read on...

What’s Working in Agency PR to Generate New Business? »

Guest Post
published on October 27, 2009

NorthenJanet Northen is Partner and EVP Director of Agency Communications at McKinney. She's been in agency PR for many years, including significant stints and Fallon and The Martin Agency. When I think

Read on...

New Business Cold Calling Conundrum: Research More or Make More Calls? »

The answer depends...
published on October 22, 2009

conundrumThis is the last in our three-part Q&A from our reader in Finland, who posed an often-debated question: "Should I thoroughly research my prospects and make fewer calls, or research less and make

Read on...

What’s The Best New Business Strategy for a First Meeting? »

Question and answer from a reader (#2)
published on October 20, 2009

build relationshipRecall that I promised to answer three questions from a reader in Finland. His second question is, "What's the best strategy for a first meeting?"

I've written in the past about the importance of

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As a New Business Person, Can you Close at the First Meeting? »

Answers to a reader's new business question
published on October 16, 2009

first meetingA reader from Finland recently emailed a few questions, which I'll answer over the next few days. The first is, "When you're selling something as intangible as advertising, how can you close at

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Delivering on Expectations, Communication Create Organic New Business Growth »

How Justin is turning around an almost-lost client
published on October 08, 2009

no surprises

Customer retention, let alone organic growth, usually comes down to people delivering on promises. Missed deadlines, less than acceptable quality, and poor communication all naturally lead to

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Forwarding is the New New Business Networking Strategy »

Cultivate your network with relevant information
published on October 07, 2009

newspaper article

It wasn't that many years ago that you'd send snail mail that included an article with a note attached that read something like this,

Saw this and thought you'd enjoy it.

The approach was simple

Read on...

Social Media, a Good List, and New Business Karma »

Helping your network with no expectation of ROI
published on October 05, 2009

karmaOne definition of karma is "actions that bring bring upon oneself inevitable results". I was intrigued by a recent conversation with Jane, a new business person, who claimed that this was the key

Read on...

New Business Face-to-Face or Virtual? »

Study reveals execs prefer face-to-face
published on September 23, 2009

face to face

According to a recent Forbes Insights study, business executives prefer face-to-face meetings and conferences over virtual meetings, and overwhelmingly agree that they're necessary to build

Read on...

Benefits of a New Business Referral System »

The lifeblood of most agencies
published on September 21, 2009

referrals

When you analyze the cost of acquiring a new client, generating new business from referrals is usually the least expensive. Realizing this, the natural question to ask is, "How do I get more?"

Read on...

New Business Prospecticide »

Add value so you don't kill your prospects
published on September 17, 2009

Pros-pec-ti-cide  [pros-pek-tuh-sahyd]

-noun

  1. The act of killing prospects.

prospecticide

What a great word! I came across it in an article by Paul McCord. He raises valuable issues and recommendations that

Read on...

5 Reasons New Business Change is Hard, And How to Avoid The Common Traps »

Real change requires real effort
published on September 16, 2009

habits

A recent Harvard Business School article addressed why it's so hard to change, which is a good follow up to my last post on the need for constant change and improvement in ad agency new business.

Read on...

Perfection in Ad Agency New Business Is…Change »

A call to action
published on September 14, 2009

You've probably heard the expression, "Change or Die". Winston Churchill had another take on it that, to me, is even more powerful:

To improve is to change; to be perfect is to change often.

churchill

A

Read on...

To Defend or Not To Defend - It’s a New Business Decision »

And it needs to be a sound business decision
published on September 10, 2009

sword defense

A few years ago I was faced with a decision about whether or not to file a lawsuit. As I considered my options, an old friend related to me what his even wiser lawyer once counseled him about

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$40,000 Off Our Fees. Your Next New Business Pitch? »

($ Canadian, that is.)
published on September 09, 2009

$40,000 off coupon

How many of us are willing to offer $40,000 off agency fees to bring in a client? Well that's what The BrainStorm Group did at the end of May. And it worked.

Ron Telpner, chairman and CEO of the

Read on...

Do Retainer or Project Clients Build an Agency’s New Business Pipeline? »

What's the right mix?
published on August 31, 2009

layered drinkAd agency clients regularly ask us this question, "What's the best mix of retainer vs. project work?" I think the answer can determine how successful you are at creating a sustainable new business

Read on...

Agency New Business Killer or Promoter: Your Director of First Impressions »

You are judged on first impressions
published on August 27, 2009

receptionist

A recent survey reveals that only one in three agency receptionists meet the characteristics of a Director of First Impressions. Staffed well and you'll have another new business weapon in your

Read on...

Ad Agency New Business is a Marathon, Not a Sprint »

One benefit is time to think and plan
published on August 26, 2009

marathonIn a recent post I wrote about the importance of getting away from ad agency new business to get refreshed and re-energized. But there's more to it: it's taking a long-term view of the work you

Read on...

Negotiate to Win New Business For Your Agency, Without Giving Away Your Profit »

Resist pressure to reduce your fees
published on August 24, 2009

negotiatingA recession is a scary time for the person trying to maintain the financial health of the agency.

I got into a conversation with a fellow CEO the other day about the pressure agencies are under to

Read on...

Skillful Listening Critical to Ad Agency New Business »

Listening = Winning
published on August 20, 2009

active listening

We've all heard the expression, "People love to hear themselves talk." When it comes to new business, your success is often determined by how well you get your prospects to do the talking.

I've

Read on...

Prospecting Tip: Use Your Cell Phone for Ad Agency New Business »

One of the old rules may need to be rewritten
published on August 19, 2009

cell phone with lock

It wasn't long ago that calling a marketer on their cell phone was considered "too personal".

However, as cell phones are becoming mobile computers, and the lines between work-time and

Read on...

How to Reach the Marketer Who’s Screening Your New Business Calls »

Caller ID doesn't have to be your enemy
published on August 12, 2009

image

How often do your prospects answer the phone?

New business people say that if feels like their calls are being screened. I agree. If your prospects don't recognize your number, they're unlikely

Read on...

Premature Presentation: The Ad Agency New Business Affliction »

You may have it if your new business revenue is falling short of expectations
published on August 10, 2009

image

I was doing some role practice recently and observed the following: the new business person asked a few good questions and then, thinking he'd identified the need he could satisfy, switched into

Read on...

The At Least 80% Formula for Ad Agencies to Win More New Business »

There are two things every client wants. K.I.S.
published on July 21, 2009

image

We all know that when you Keep It Simple (K.I.S.) - I'll assume no readers are stupid - business success comes easier.

I've been thinking about agency-client surveys. Each tells us what clients

Read on...

New Business Strategy: Commercializing Your Own Products »

Why shouldn't ad agencies or design firms launch their own brands?
published on July 17, 2009

image

In a recent post I mention the opportunity to partner with upstart technology companies as a new business play. This month's Fast Company article titled "Selling Soap. Literally" shows how some

Read on...

Changing Role of Ad Agency New Business Rainmakers? »

Adweek doesn't suggest an answer; Here's one.
published on July 15, 2009

image

Large, well-known agencies are getting frustrated at the length of time it's taking to fill open CMO positions and with the lack of available talent, according to a July 13 article in Adweek.

I

Read on...

Ad Agency Guide To Breaking In To New Categories »

published on June 29, 2009

Every ad agency wants to break into a new category. How do you do so when you don't have the experience? How do you avoid spending a great deal of money on a pitch that you have no chance of

Read on...

Sad But True: How One Ad Agency Completely Blew Their New Business Credentials Presentation »

Making brownies while presenting your credentials doesn't mix
published on June 25, 2009

One day during the week of June 15th, 2009 a multicultural ad agency that can't be named had a conference call with a very large, well-known telecommunications company. They completely blew it.

Read on...

Gen Y, Shapeshifting, and What the Future May Hold for Ad Agency New Business »

The greatest change of our work lives is on the horizon
published on June 23, 2009

Michael Malone's new book, The Future Arrived Yesterday hit bookshelves on Monday. You may remember his name from the early 1990s prediction that work was going to become increasingly virtual. He

Read on...

Strategy to Drive Small Ad Agency New Business »

4 steps to benefit from focused learning and strategic targeting during slowdowns
published on June 16, 2009

Elizabeth Baskin of Tribe passed along a good idea to me yesterday that may be of use to those who work or own small agencies. We ran into each other at Catapult New Business' New Business from

Read on...

Distinguish Yourself From Your Ad Agency’s Competition to Drive New Business »

Aggregating or disaggregating your services could be the key
published on June 15, 2009

Too often marketers complain that agencies are alike, that their services are a commodity.

As frustrating as this may be, Kaihan Krippendorff argues in a recent Fast Company article that there's a

Read on...

New Business Success Starts With Your Ad Agency Setting High Expectations »

A homeless man provides a life lesson
published on June 12, 2009

My son got a powerful dose of wisdom from a homeless man yesterday. When I heard the story, I couldn't help but think about the applicability of what he said to business in general, and to ad

Read on...

Ad Agency New Business: Appointment Setting »

5 ways to ensure your appointments stick
published on June 10, 2009

Does this sound like something you'd say, after hearing your prospect express interest in speaking further about your agency's credentials (recent work, award, new client win, etc.):

"Great! I'll

Read on...

Organic Growth Drives Ad Agency New Business »

Recession success proves the power of a well executed strategy
published on June 09, 2009

Amid stories about client losses, staff cuts and reduced spending are powerful reminders that a well-executed organic growth strategy can be a powerful revenue-generator in good times as well as

Read on...

Learning Ad Agency New Business from a Chess & Tai Chi Champion »

Relentless focus on improvement is a key to success
published on June 08, 2009

Bottom Line interviews Josh Waitzkin, a former national chess champion and current martial arts world champion, in their most recent newsletter. Waitzkin shares insights that may cause you to

Read on...

Ad Agency New Business Update: Cold Calling Isn’t Dead »

It may be the most dreaded type of prospecting effort. Some claim it's dead. But, it still works.
published on June 04, 2009

"I just got a call-back from International Paper."

Turns out this new business person made one introductory phone call to track down the appropriate person, left a voicemail message, sent

Read on...

Broken Promises Kill Ad Agency New Business »

The deal was almost inked, and then he tried to change the terms
published on June 01, 2009

I love asking agency principals the question, "What's the first thing you think of when you think of sales?" The answer is almost inevitably "car" or "used car".

Last Saturday morning my wife

Read on...

Reveal Ad Agency New Business Opportunities by Asking Analysis Questions »

If you determine the depth and weight of your prospect's needs you'll clearly define the potential opportunity
published on May 27, 2009

Most proactive new business efforts take place over the phone, which is at the heart of any outbound new business process. Most sales people know about the idea of identifying needs, but as Art

Read on...

Ad Agency New Business, First Build a Relationship »

Your agency's first meeting with a prospective client should be all about them and not about you or your capabilities
published on May 21, 2009

I've enjoyed reading Norm Brodsky's articles in Inc. magazine for years. He's seen and experienced just about anything you'll ever encounter, and there's a wealth of good business insight in every

Read on...

Effort Trumps Ability in Ad Agency Business Development »

David beats Goliath
published on May 21, 2009

There's a great article titled, How David Beats Goliath in the May 10, 2009 edition of "The New Yorker" magazine by Malcom Gladwell. This article made me think about the small agency Davids who

Read on...

Is Your Ad Agency Practicing Inward Facing Dog? »

Don't be one of those new business professionals (or CEOs) who's missing what's happening outside the four walls of your agency
published on May 18, 2009

If you're the new business person at a small or medium-size agency, or the agency CEO, a recent post from OnStartUps by Dharmesh Shah may resonate.

I borrowed this post's title from Dharmesh, who

Read on...

Eavesdropping as an Ad Agency New Business Strategy »

Use search and social media to reveal insights and initiate conversations with prospective clients
published on May 15, 2009

Medical Marketing and Media magazine published a story called "The Science of Eavesdropping" in the May 2009 issue. While the authors, from Wunderman NY, are writing it from a client research

Read on...

New Business and Your Ad Agency’s Vision »

What is the clear, specific, measurable and achievable Vision motivating your agency?
published on May 13, 2009

Yesterday I participated in a Vistage meeting that featured an excellent speaker, Dan Barnett. Dan has run businesses for 25 years at companies like Pillsbury, Nestle, Constellation Brands,

Read on...

Slow and Steady Ad Agency New Business »

Your new business program will benefit from applying the principals of healthy living
published on May 13, 2009

I was struck by the parallels between maintaining good personal health and a successful and healthy agency new business program when scanning the recent Zappos blog, Slow and Steady Wins the Race.

Read on...

Ad Agency New Business Strategy: Employee Referrals »

Push responsibility for new business throughout your entire agency
published on May 04, 2009

I'm talking to more agencies and marketing services companies that are trying to enlist everyone in their companies to drive new business. Miriam Marcus wrote an article in Forbes magazine the

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For Ad Agency New Business Success, Focus on Just a Few Prospects »

Why is it that most large advertising agencies focus on only 10 or 15 prospects?
published on April 25, 2009

Here are 5 reasons why large agencies focus on fewer prospects:

  • Client "conflicts" limit the industries where they can pursue prospects.
  • Budget: they are looking for big game, big budgets, and

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13 Questions Ad Agencies Should Ask Prospective Clients »

What are the best questions to ask when your ad agency first meets a prospect? Check these out and then submit your favorites
published on April 17, 2009

In every prospect meeting, new business people have the opportunity to ask a few good questions. Ask the right ones and you'll find the opportunities you need to win.

Here are 13 good questions

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Ad Agency New Business: How Not to Sound Like a Used Car Salesman »

New business wins are rare if your prospect feels like a piece of meat
published on April 14, 2009

What are the first words that come to mind when you read the word, "Sales"? When I ask this of ad agency new business teams, or friends at cocktail parties (however embarrassing, yes, I've asked

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For Ad Agency New Business Success, Hire a Sales Person with These 4 Traits… »

Hire someone with proven success in consultative sales ... then ... let them sell!
published on April 01, 2009

Sales is a profession and a critical business function. The sales professional's personality is very different from any other staff member.

These 4 traits are critical - and common - among

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Procrastination Can Kill Your Ad Agency New Business Program »

Any excuse is a good excuse not to make prospect calls
published on March 23, 2009

Just last month an agency president told me, "Over 20 years I've made up every possible excuse in order to NOT make the new business calls I needed to make."

Here are 4 common forms of new

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Voicemails can Break through Proactive New Business Clutter »

The words you use and the way you use them say a lot about you and your agency
published on March 13, 2009

They will determine if you are able to move from voicemails to conversations.

Think about how we pre-judge people who leave us voicemails. If they are a fast-talking salesperson we'll call them "

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Chemistry Wins Ad Agency New Business »

The determining factor at “decision time” is often how your prospect feels about your agency team
published on March 04, 2009

Full-disclosure - I've been in the room less than a dozen times during the agency selection decision, so I'm relying on search consultants who confirm that once there are 2-3 comparable agencies

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Proactive Ad Agency Business Development is Relationship-Building in Action »

Jumping on a plane at the first whiff of potential client interest in your agency is a quick way to waste time and money
published on February 26, 2009

I had lunch the other day with a friend who's in charge of business development for an agency with a half-dozen locations across the country. She's a true expert in proactive business development,

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Persistence Determines Successful Ad Agency New Business Development »

CMO friends consistently tell me that new business people give up too early
published on February 23, 2009

Here are the unofficial statistics they cite about agencies' proactive business development people:

  • 50% never follow up on the email or material they send
  • 25% follow up only once or twice by

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7 Voicemail Messages for Successful Ad Agency New Business Development »

Good voicemail messages are a critical part of an effective sales and marketing campaign
published on February 17, 2009

Good voicemail messages are a critical part of an effective sales and marketing campaign: they develop awareness and rapport before a conversation begins.

I have a friend who's the CMO at a major

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10 Steps to a New Business Plan »

Make your plan, and then work your plan
published on February 12, 2009

A former senior colleague of mine on the client side used to preach the old adage, "Make your plan, and then work your plan." It works. Applied to new business, it works really well.

I remember

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Learn to Engage With Your Prospect to Win More Ad Agency New Business »

Your first client meeting is like a first date: handle it well and you have a chance to get engaged
published on February 09, 2009

Tell me if this sounds familiar: you finally score a meeting with a prospect who asks you to give them a credentials presentation. You arrive at their office, fire up your Mac and run through your

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Focus on your Core Competency to Increase your Ad Agency’s Speed to New Business »

Spending money on what you don’t do well is as important as spending it on what you do well
published on January 21, 2009

Last week an agency principal from the West coast called and said, "I haven't forgotten you, we just got busy (months after his initial call). But, now we're ready to move forward with new

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5 Steps to Prepare for Your Agency’s Next First Meeting with a Prospect »

90% of ad agency principals say, "Get me in front of a potential client and I’ll close the business"
published on January 16, 2009

Most of the time, this is both the wrong objective and not the outcome.

I remember a client from a successful regional agency. They had outstanding creative, long-term client relationships, and

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Win More Ad Agency New Business by NOT Asking Your Prospects to Call You »

Treating your prospects with respect and showing consideration for their time demonstrates your professionalism
published on January 06, 2009

How many times have you listened to cold calls in your voicemail and actually called the salesperson back? If you're like me, you never do. And why should you? What right does a salesperson have,

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Setting Next-Actions Drives Ad Agency New Business Success »

Next-actions move the proactive new business process forward. Without them, it’s like playing baseball without bases
published on December 31, 2008

How many of us recall exciting, engaging, thought-provoking meetings that end on a high-note, but when asked later what the results were, you can't answer with anything concrete? Too many new

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8 Systems for Proactive Ad Agency New Business »

To achieve long-term success at proactive new business, ad agencies commonly use one of eight methods
published on December 29, 2008

Here they are:

  1. Sell & Do: The antithesis of an organized, strategic, proactive new business plan – and vast numbers of small firms operate this way. With this method, everyone is busy until

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To Attract Ad Agency New Business Perhaps You Should Ask “Why?” »

Asking why is a simple way to get to the heart of what your agency really does and better help you and your staff communicate
published on December 17, 2008

Asking why is a simple way to get to the heart of what your agency really does and better help you and your staff communicate what it can do for clients.

If you were to go around the table asking

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