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The Biggest Trend in Agency Business Development

January 5, 2008

A new business director for an ad agency is a unique breed of person. Engaged in the kind of activities that most agency principals, creatives and even account service execs hate, selling the agency. This lack of internal expertise and passion has fueled a growing trend of outsourcing new business development, particularly among smaller to midsize ad agencies. Below is an outsourcing article that is worthy of discussion …

“Outsourcing New Business Development The invisible trend”, By Matt Duffy Editor, DailyVista.

According to Duffy, outsourcing may be the biggest trend in ad agency business development that no one’stalking. European agencies have been increasingly outsourcing their sales departments for the last decade, and a few American firms are now offering the service.

“The problem with employing someone in house to do the outreach is that their cost, plus the costs of data,
plus the license to use trackable email soon escalates to the point where it is more cost effective to use an external consultancy … An external consultancy also has more ‘ears to the ground’ than an internal source.” – Adam Whittaker, RSW

The combination of financial savings plus business intelligence and expertise makes for outsourcing an appealing option for small-to midsize agencies.

Download the entire article: Outsourcing New Business

3 Comments | New Business Trends | Tagged: agency business development, agency new business, agency new business consultant, catapult new business, dailyvista, List Partners, Michael Gass, new business development firms, outsourcing agency new business, Quennell, reardon smith whittaker, Small to mid-size ad agencies | Permalink
Posted by Michael Gass

2008: New Business Resolutions for Agency CEOs

December 31, 2007

It’s traditional on New Year’s Eve to announce your New Year’s resolutions, those things that you’re going to do better or more of during the new year. Below are a few suggested new business resolutions that will make 2008 a brighter year for your agency:

Resolve to create an integrated New Business Action Plan for the year. Unbelievably, 62% of agencies don’t have a planned new business effort. Remember, this isn’t rocket science. All that you need is a 1-3 page tactical plan that lists key target segments, strategies, timeline and ballpark budget. Having a plan will also allow your agency to automate, or at least, semi-automate, most of its new business processes (mailings, RFP responses, presentations, etc).
Resolve to identify and prioritize one to three industry niche prospect segments. More emphasis with fewer new business segments raises your visibility to become the go-to agency. This will give your agency’s new business efforts focus.
Resolve to develop a brief PR plan. Also, consider hiring an outside freelancer or PR firm. Agency PR staff, pressed with current client needs, generally do not promote their own agency well.
Resolve to update the agency website. Among businesses looking for new agencies, 93% go to the agency’s website first. Critically review your website. Make sure it presents your brand/positioning and brand character in a clear and compelling way.
Resolve to form a new business team and have weekly new business meetings to keep the process moving. The key to success is consistency.
Resolve to allow between 30 and 40% of your time for new business activities. You are, after all, the “new business ambassador” for your agency.
Resolve to stay the course. New business efforts are relational and take time to come to fruition.