16 Business Development Tools You Need to Thrive in 2019
And as Mark Kelly points out on Smart Insights, the ultra-competitive nature of the modern agency landscape means that you can’t ignore agency new business development tools.
When you’re competing against not just your local agencies but shops sitting halfway across the world (who can undercut you on price), you have to be proactive in your search for new business.
Which is why all but 14% of agencies say that new business is a “vital” area of focus for them.
Like all businesses, agencies need a steady stream of clients to keep growing.
Yet, “business development” is often considered a dirty word, especially among the more creatively-inclined shops.
There is a perception that if you keep doing excellent work, the work will come your way.
Then there is the issue of sales cycles. Agencies rarely have the organizational setup for a traditional B2B sales process. They’re too happy to chase down easy-to-get leads instead of waiting for those fat contracts that take 6-12 months to close. The former takes a query on your site; the latter requires extensive, consistent business development.
It doesn’t help that “creativity” is tough to sell, especially if your business development team doesn’t share a creative background.
To make new business easier, you need agency business development tools.
There has been a steady rise in the number of agencies using such tools.
For instance, an RSW/US survey found that the percentage of agency execs using list building software increased from 45% in 2015 to 69% in 2018.
As Vice President of Sales at RSW/US, Lee drives sales efforts to bring ad agencies and marketing services firms on board with RSW, creates content around successful new business tactics and takes part in RSW/US marketing objectives, including social media channels, blog content, webinars, video and speaking engagements. You can find him on LinkedIn (https://www.linkedin.com/in/leemcknightjr) or Twitter (@leemcknightjr).