Tag Archives: New Business

Your proposition: is it millennial enough?

When was the last time you updated or adjusted your business proposition? A considerable amount of companies create their propositions in the very early days of the business lifecycle, and then, if they seem to be working, they leave them and don’t update them despite the changes in the macro and micro economic environment. […]

Posted in News | Tagged , , , | Leave a comment

Is Working With Your Agency a Fine Dining Experience?

fine diningThink of your agency as an upmarket restaurant.

The creative department are the chefs.

Client service are the waiters who deliver the product to the customer.

The customer of course, is your client.

[…]

Posted in News | Tagged , , | Leave a comment

Who’s the MAN! for agency new business.

Back to basics – SALES. It’s what we do – call it what you want, but that’s it. Many years ago I was making a speech at an Omnicom conference (DAS to be precise) and I was talking about sales and an MD of an agency at the end said that it was all well and good, but that he wasn’t in ‘sales’ he was in ‘advertising’. My response was that his CEO would probably say that he was in the business of selling the services of an advertising agency, not ‘in’ advertising per se.

[…]

Posted in Resources | Tagged , , | Leave a comment

Too Busy to Talk?

Wheel

This was brought to my attention the other day and it made me smile.

How often have you, as an agency new business person, felt like this poor chap. There you are, with a really great offering and yet no-one will even give you the time of day. Why is that?

Well, the usual reason is one of the following:

[…]

Posted in Just thoughts | Tagged , , , | Leave a comment

Engagement; Engagement, Enthusiasm and Engagement.

UntitledThe AABA pattern, also known as a diacope, is a very common rhetorical device you are probably very familiar with.

“Romeo, Romeo, wherefore art thou Romeo”; “my horse, my horse, my kingdom for a horse”; “alone, alone, all alone”; “You villain, villain, you damned, smiling villain.” And my personal favourite from Carry On Cleo, “Infamy, Infamy, they’ve all got it Infamy”.

Another tool is Chiasmus, a rhetorical device that originates from the Greek chiazo, meaning “to shape like a letter X.” It is a figure of speech in which the second half of an expression is reversed to mirror the first half, i.e. A/B, B/A (where the letters represent words, phrases or parts of speech).

Perhaps the best known example of chiasmus is JFK’s “ask not what your country can do for you — ask what you can do for your country.” Another is, “We don’t get stop playing when we get old, we get old when we stop playing.”

These tools are great to use in your new business pitches and can really make you stand out.

There’s a really interesting interview with Mark Forsyth (@InkyFool) on Radio 4 that was broadcast in November 2013 that you can listen to HERE.

And you can buy his book HERE.

Posted in Resources | Tagged , , , | Leave a comment

The best iPad Pitch

One of the best pitches I ever saw was done by a man who was great at speed drawing. He had a flipchart and a bunch of pens and off he went, drew the entire presentation as he was going along, adding in things he came up with on the spot and things that were suggested by those watching.

At then end he gave the marketing director the flipchart, great fun, very stimulating. But if you can’t do this or want something a bit more hi-tech, then take a look at this!

Posted in Just thoughts, News | Tagged , , | Leave a comment

Conversion Rates – What to Expect from Agency New Business.

Like most new business agencies we are often asked about conversion rates; both our own and those of our clients. RSW has been in business since 1992 in the UK, 2005 in the US and has also just set up in Australia. We monitor both our own and our client’s success rates, taking standard deviations into consideration.

Conversion ratesWe divide new business into what we call the “Upstream” process and the “Downstream” process. The upstream is everything that happens prior to the first face-to-face interaction with the prospective client whilst the downstream is obviously therefore everything that happens post first meeting.

Both processes have three steps and they are as follows;

UPSTREAM

Step 1 – Make a contact attempt

Step 2 – Engage with the prospect

Step 3 – arrange a meeting

DOWNSTREAM

Step 1 – Meet the prospect

Step 2 – Submit a proposal / answer a brief

Step 3 – Win the business.

We know that for every 100 calls made, ten prospects will be spoken to and for every ten spoken to one will convert into a qualified meeting (see other post for definition of a ‘qualified meeting’).

For every four meetings our clients attend they should submit one proposal and for every three proposals submitted they win a new client.

We believe that our attention to delivering truly qualified meetings means that our (Upstream) conversion rates are not as great as those suggested by other new business agencies but feel this is justified by our clients’ superior (Downstream) conversion rates.

Posted in News, Research | Tagged , , , | Leave a comment

A Well Written Letter

imagesNothing to do with agency new business, but a good example of business development at its very best.

I was dropping my son off at school this morning as he was off on a bushcraft course – three days camping by the sea in Dorset, canoeing, rock climbing, survival etc. Sounds great fun! I got talking to the headmaster about the company that was running the course and how he had found them.

He told me that several years ago they had written to him; a hand written, two page letter, describing what they did and how they thought they’d be the perfect fit for the school. They had done their research and knew the ethos of the school. They referred to this and how they could fit in because of their own ethos.

He was so impressed that they had gone to so much trouble he called them and the rest is history.

Posted in Just thoughts, Resources | Tagged , , | Leave a comment

Would you really ask that?

datingWhen agencies, speaking to clients on the telephone for the very first time start asking them questions like “are you reviewing your agency arrangements? or “are you happy with your agency?” or even “what are the issues you need addressing?” before having fixed the meeting date, they are making a big mistake.

Think of it like this. What you’re doing on this phone call is asking them for a date.

When asking a member of the opposite sex for a date, you want to find out whether they are …

1) Interested in you

2) Are the same persuasion as you sexually

Before asking someone for a date I NEVER used to ask them if they were in an unhappy relationship and considering an alternative ‘provider’. Did YOU? No, of course not.

So take it slowly. Ask them a simple question, the answer to which tells you if they are the decision maker and whether they have a budget.

As soon as you know the answer to both these is YES and the client is one you REALLY want to work with, arrange a date.

At that first date is the time for more in depth interrogation. Or, in the dating scenario, ‘wooing’. Wooing that may takes months of careful and thoughtful attention but never stalking, until maybe their current partner fails in some way and they turn to you for help.

Posted in Just thoughts | Tagged , | Leave a comment

Just Look Me in the Eye Already

The Workplace Perils of Staring at Our Phones and Elsewhere; The Ideal Gaze Lasts 7 to 10 Seconds

You’re having a conversation with someone and suddenly his eyes drop to his smartphone or drift over your shoulder toward someone else.

It feels like this is happening more than ever—in meetings, at the dinner table, even at intimate cocktail parties—and there are signs that the decline of eye contact is a growing problem.

Adults make eye contact between 30% and 60% of the time in an average conversation, says the communications-analytics company Quantified Impressions. But the Austin, Texas, company says people should be making eye contact 60% to 70% of the time to create a sense of emotional connection, according to its analysis of 3,000 people speaking to individuals and groups.

READ IN FULL ON THE WALL STREET JOURNAL

Posted in Just thoughts | Tagged , , | Leave a comment