Agency Post: Simple Rules for New Business

The Agency Post, an interactive publication for ad, PR and marketing professionals, was kind enough to post some of my thoughts on new business here. A short snippet:

At its heart, new business is not hard. As one old agency wag used to tell me, “This is an easy business kid — find the damn client, keep the damn client.” The rules for winning more new business are not difficult to understand. If your new business program isn’t producing, chances are someone is making it more complicated than it needs to be. Or, maybe your new business effort is focused on the wrong thing.

The concept I outline is that firms often focus on the wrong areas when chasing new business. Please head over and read the whole thing, as there are some simple rules for how to build relationships as well!

Additional Thoughts on Relationship Building

There is plenty of new business out there – all you need is a spark!

Clients are being contacted daily by sales people from within our industry who attempt to pitch without permission. The fact of the matter is that most new business people lack the skills of adding value and relationship building these days. The problem is they don’t know any better. They’ve been instructed by the agency presidents to speak to anyone who has a pulse. Something to think about – would you get involved in a multi-million dollar deal without knowing someone from the agency with whom you are dealing with?

I’m sure that you know the answer to that question!

We teach agencies how to Spark – The Worlds Most Powerful New Business System. A critical fundamental skill of the spark system is the process of building relationships. Clients must never know you are selling. Clients must never feel they are being solicited. You have to take the long view and look towards building trust over time.

5 Strategies To Help Your New Business Person Build Relationships

  1. Focus: Develop an expertise on a narrow subject. As an expert any comment and or advice brings more value. Show how your expertise can benefit the prospect. Experts in any field and are heavy relied on as a trusted resource.
  2. Network: We all know that people do business with people whom they like and trust. Choose to make a new friend over just creating a new business transaction. This will pay off in the long run.
  3. Nudge: Establish yourself with your prospects by creating a dialog on things that you have in common. You must be able to establish rapport. Be a steady source of ideas, tips, and advice.
  4. Add Value: Become a teacher to your target market, and educate people on best practices – draw information from any and all sources. You don’t have to create them all. Link, summarize, send.
  5. Close: Seek constantly for an opportunity to visit the prospect when there is a need. Then follow set rules to enhance trust, discover needs, when to leave them wanting more, and how to close.

The agency world has changed a lot, but two things remain the same: The necessity to win new accounts and the need to keep what you win. Becoming better at building and keeping relationships will help with both.

More Links On Relationship Building

If you are interested in learning more, bring us in for a training session with key staff on how to set up an agency relationship building program. And then sit back and watch your agency grow.

Photo by *chris-stahl

Focus Your Brand: Focus Your Efforts: Win

the second largest B2B agency in the United StatesHow did an agency in the middle of nowhere Amish country grow 50 percent at the height of this recession? At a time when agencies around the world are cutting back, down-sizing, reducing staff or just flat out closing, how did this agency seize this opportunity to grow? I recently met a fellow new business person, Lance Baird, whose B2B agency, Godfrey, has been recognized by Advertising Age as one of the fastest-growing advertising agencies in the country. The secret to their success: focus your brand so you stand out in the market.

Lance said this about Godfrey: “Regarding a specialty, initially, to be honest, people were extremely uncomfortable with this position as they felt it confined us. Today, this positioning is not only internally accepted, it’s promoted. We help highly technical manufacturers market themselves better. Period. I think this concept is really, really important for agencies: define who you are or someone else will do it for you.”

Don’t Label Me Bro!

Most marketing firms I’ve worked with are afraid of developing a focus that stands out. They never go beyond the generic “full service marketing firm, great creative, outstanding service” shtick. They never shout from the rooftops “we’re the world’s best at … something, anything!” Without focus you run the risk of trying to be everything to everybody and fail to be remembered – your brand effectively fades into the haze gray of marketing speak. In other words, you become one more marketing firm that is “integrated-marketing, brand-building, highly-strategic, results-oriented, media-natural, crowd-sourced, social-media, idea-driven.” The more precisely you can describe your ideal client, address their marketing needs, and deepen your knowledge, the more new business you’ll get.

Growth With Focus Is Easy!

  1. Marketing an expertise is easy! If you commit to an area of focus, you then have a very specific client in which to market. Social media makes this more of an opportunity for you than ever. Focus your efforts, build targeted content and get found. New business efforts start to make sense.
  2. Referring prospects to an expert is easy! If your agency is known as “the expert in …” then it becomes simple for clients, friends, family, and staff, anyone in your network to refer prospects to you. Focus means more leads through referrals – it’s that simple.
  3. Familiarity makes relationship-building easy! Prospects don’t mind having a conversation with someone who has deep knowledge in their field. They need to know that you understand their specific industry and have something of value to offer. We’re in a relationship business, and relationships drive growth. If you are positioned as an expert, then more people will be interested in developing a relationship with you.
  4. Winning a pitch is easy! There will be less competition, as you provide specific services for specific clients, in a specific way. Walking into a pitch as a recognized thought leader in a field gives you more freedom. Free to make a solid case for your recommendations. Free to stretch your strategies, ideas, and creative into real award-winning work.
  5. Growing existing clients is easy! Experts understand how to get more organic growth. As you provide increasingly better service based on your client’s needs, the chance is that you will get more organic growth. Clients will come back for more and often will start spending more with you as the relationship grows.
  6. Accepting projects outside your focus is easy! Becoming an expert doesn’t mean that you won’t get work outside your niche. In fact, I’ve found that the more an agency clearly defines their expertise, the more their brand stands out. And the more the brand stands out, the more prospects notice. And prospects are busy people, so they really don’t care what your expertise is IF they’ve noticed your brand. Counterintuitive I know, but it works.

If you are unsure of how to develop your unique area of focus, get help. Don’t keep doing the same ol’ same ol’ expecting different results. Don’t go in for half-measures. To focus your brand and become an expert, you must go in 100 percent. Seek out help from thought leaders in marketing, existing clients, new staff, and anyone who can assist you in finding that special niche.

Define Who You Are Or Someone Else Will Do It For You

Having a strong agency focus will open new roads to growth.

I thought it would be interesting to see how Godfrey marketed themselves over the last 10 years or so. Going back in time, you may notice a steady narrowing of focus over the years:

1999: Specializing in integrated marketing communications programs, we define, shape, and nurture your corporate positioning through marketing communications. We have the experience, skills, and in-house staff to develop and implement effective marketing communications across a wide range of industries.

2004: A full-service integrated business communications company specializing in strategically driven business-to-business marketing for both national and international clients.

2007: Specializes in developing strategic marketing solutions that drive growth, competitive advantage, and value for business-to-business companies.

2011: Specializes in helping highly technical manufacturers market themselves better.

So Godfrey, throughout the years, has clearly defined and narrowed the focus of their brand. By doing so, they are now one of the fastest-growing agencies in America. The future belongs to those agencies that brand themselves best, don’t compete where the competition is high, and avoid getting marginalized by quicker, cheaper competitors. Agencies are discovering that there are no winners standing in the middle – soon enough they will be forced to move one way or the other.

Update:

According to this recent survey by RSW/US over 77% of prospects state that having a focus, or specialization, is important to them. In the notes section of that survey this is what marketers had to say about specalization:

Reasons why Marketers DO want specialization include:

  • Agencies can be more focused and strategic when they’re specialized
  • I don’t have time to train “beginners” in my space
  • We don’t have the time or money to waste.
  • We need experts in our industry who know it intimately

Implications: At the end of the day, I personally believe that if Agencies can make the Marketer feel like they know their category (no matter your level of experience in their space), the Marketer will be more likely to feel good about the Agency. I recently wrote a post based on my past two Agency Searches we ran. In both cases, the marketing clients told us that they selected the winning Agency because they “felt like they were already ramping up”. The winning Agencies tailored their presentations to the Marketer, they showcased their knowledge of the space, and they shared smart, strategic thinking applied from the Marketer’s and other industries. In both cases, there wasn’t any marked advantage that the winning Agency had over the other Agencies in terms of category experience. They just came to the table with a smarter, more creative, more strategic, and more energetic approach.

 

Bottom photo by ~wojtaaa

 

Happy Holidays! New Business Tips For The New Year!

The holiday season is a time to give and receive. This year, we’ve received a lot from you and we want to take time over the holidays to give you the thanks for your preference and trust. We would like to take minute to remind everyone that the holidays aren’t just about buying wonderful gifts for the family or throwing the best agency party anyone’s ever seen. It’s about family, friends and about being there for your loved ones. This is a good time for reflection on what you’ve accomplished this past year – not only with your work, but with your family, friends and community. So as a friendly reminder, take a minute this holiday season and give yourself a pat on the back for all your hard work.

The New Year will bring forth many new opportunities in both growing your firm and working with clients. We can help. We offer you guided help with your new business initiatives and are always up for the great client challenge. Whether it’s re-branding your firm, setting up a new business system, improving your operations, or anything in-between, we’ll be here to help keep you on track and moving in the right direction for 2013.


Our Top Post Providing New Directions in Growth:

  1. Winning New Business: Rules For Closing The Deal
  2. Agency Presidents Say the Funniest Things
  3. Retention: How to Prioritize Clients
  4. Why Prospects Don’t Tell You the Truth
  5. How Can a Small Agency Compete in New Business?
  6. New Business in Tough Times: 5 Ideas for Growth
  7. New Business: The Winning Pitch
  8. New Business Ideas: 49 Growth Tactics
  9. Winning New Business: The Defining Moment
  10. 30 Common New Business Mistakes

It’s our hope you find something you can use to better grow your firm! We wish everyone a Merry Christmas and we hope you have a safe and happy New Year filled with growth!