Lack of a new business development methodology was the key hurdle for this agency. Despite proven healthcare expertise built over 20 years across multiple clients, no system existed to leverage that experience in generating new business.
This mid-size client has experience in multiple verticals and their internal business development team was delivering new business from a variety of regional prospects. With a look to long-range growth strategy, the agency sought to drive growth where they saw the most potential – in healthcare.
It’s often a misconception that larger agencies have the resources in-house to manage a successful new business development program. Prior to engaging RSW/US, their Marketing Coordinator had responsibility to send capabilities presentations to prospects, but the methodology,strategy and consistency needed to generate results were absent.
The greatest new business challenge for this client was lack of in-house business development expertise. However, at the beginning of the program, a dismal economy presented an added challenge; building and construction activity had shut down almost entirely. The key was finding out where investment was happening and which supplier segments could benefit.
This agency (which specializes in Medical, B2B and Consumer) came to RSW/US with a solid game plan. Their objectives were clear from the outset and their collateral materials were excellent. Still, previous new business efforts with internal representatives hadn’t delivered consistent results. The agency founder knew she needed new business expertise that would bring objective, candid insight and provide counsel on a peer-to-peer level.
Prior to engaging RSW/US, the agency (which specializes in Healthcare, Agriculture and Animal Health) pursued new business by way of a committee. The committee met once a month to discuss progress and plans. However, with members having other responsibilities within the agency, new business methodology, call consistency and follow-up were lacking. Additionally, staff turnover created “holes” in the new business committee.
Prior to enlisting RSW/US services, this agency had assigned new business responsibilities to a three-person team that was comfortable nurturing leads locally through networking. The new business need arose from several dynamics. First, new business from within the market was increasingly coming with smaller budgets. Second, although growth opportunity existed across the surrounding region, the in-house new business team was not as comfortable or effective in building relationships outside the immediate market. Finally, the new business team also had account responsibility. Their own client demands took priority, and drained time from new business activity.
This agency often works in collaboration with other advertising firms supplementing their capabilities with specific expertise required to fulfill the end-client needs. Prior to engaging RSWUS services, this agency acquired most of its new business through referrals made by other agencies. While this channel had produced new business, our client knew they needed a more strategic and proactive approach for continuous, sustainable growth.
The objective for the client’s new business development program was simple and common to all clients: make more money. Business development expertise and the efficiency of a proven methodology were key needs. As an agency deeply entrenched in the tech industry the partners knew in-house strengths were best applied on account work and that growth objectives would be most efficiently fulfilled by enlisting RSW/US services.
Prior to engaging RSW/US, the agency’s new business development was the responsibility of the General Manager. Challenges he faced included an outdated prospect database and…time. As for so many, time for new business development was scarce given day-to-day client demands. Without a current list of truly viable prospects, time invested in new business calls produced low results.