Tag Archives: New Business

Tailoring your sales approach

When it comes to sales, whether through direct conversation, PowerPoint-led presentations or the trusty old phone call, one thing is certain – you’ll need to win your prospective client’s buy-in. Central to this process is your ability to effectively tailor your approach to the client and throughout this blog we explore just how you can develop a more bespoke approach to winning business and how this will contribute to a more successful sales attempts.

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Use this to identify your client needs

Exploring and defining your potential client’s needs before even beginning the sales process, is critical to a smooth and efficient on-going relationship management. Moreover, it becomes invaluable once the deal has been made and it’s time to deliver on both party’s terms and conditions.

In this blog, we touch upon the main areas that you should pay attention to when beginning to explore the client’s needs. […]

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Value Propositions: Debunking The Myths

As a business predicated on developing and maintaining relationships with other businesses, we have been exposed to many value propositions. A constant theme we have found is that often there is a lot of confusion as to what actually constitutes a value proposition in the first, let alone what it takes in order to develop an excellent one. […]

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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. […]

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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.

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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.

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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:

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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.

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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!

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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.

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