At some point, every new business person has been presented with this situation: A prospect comes to us that heard great things about what our agency does from a previous client and they think we are a great fit for them. Unfortunately, we don’t think it’s a great fit. They could be too small of a partner, in an industry we don’t want to work in, or located in an inconvenient region of the world. Whatever the reason is that they aren’t a perfect fit, we are left with the problem of needing new business, having an “easy” win standing in front of us, but possibly taking on another client that could be more pain than they are worth. What do you do?

Whether or not you choose to work with the referral above, there is an easy solution to the dilemma. Actively seek new referrals and STOP WAITING for them to come to you. If you are trying to truly grow your agency this year, sitting back and waiting for those referrals will not lead to double-digit growth. We need to proactively build a referral machine that will generate conversations between our networks with companies that we actually want to work with. So how do we go about doing this?

Creating a true referral machine has a ton of different pieces that incorporate almost every piece of your agency. Your marketing, sales, account management, executive team, and social presence all need to be aligned in order to really build a scenario where referrals produce themselves naturally in an organic way. If you want a great book on referrals, I would recommend “The Referral Engine” by John Jantsch. While he has gone through many of the points above, the one that I believe is most applicable for my new business directors and easiest to institute immediately is the idea that “the most easily referred companies are naturally social”.

So what is “naturally social”? In the new business world, to me it means that you are creating content that invites conversation, telling stories via blogs or video, working with partners to deliver content that is of value, and most importantly, actively having conversations within your immediate and extended networks. The last part is where we tend to see people who fall off the most, reaching that extended network. We all work to build these LinkedIn networks, and then we find ourselves only really “liking” content or posts that come from those that we know the closest. Well, those folks are already the most likely to send us a referral if they come across one, right? What I want to push my new business directors to do is find specific companies that they want to work with and then utilize those extended (and less used) network contacts to generate a conversation. There’s a really simple process that you can take advantage of tomorrow to do this:

1. Build a list of prospect companies

2. Search each company in LinkedIn and find their most applicable contact for prospecting that is also a 2nd-degree connection.

3. Identify your shared connection with that prospect and request a referral directly to that prospect company from your shared connection.

Seems simple right? Here’s the key part – make the referral EASY for your shared connection. Too often we either a) simply don’t ask our shared connection for a referral or b) we put the onus completely on them in terms of coming up with the reason for the referral. The idea here is that we want the referral ask to be specific, time sensitive, and pre-written for our connection. This allows them to simply forward on a message with as little work as possible for them. And because your message is time sensitive in nature, we have a built-in urgency to the request for referral.

Here’s an example:

Hi (First),

I was hoping you could help me.

You’re connected to (John Smith) of (Company) and I have some (Valuable Marketing Intelligence) that I’d like to put into their hands, and it’s a bit time sensitive. 

Since you two are connected on LinkedIn, I hoped you’d be open to introducing me today with the message below?  Feel free to edit as you desire:

 -Or- 

(First Name),

It’s been a while since we last connected – hope all is well! I thought you’d be interested in this introduction to Matt Chollet (cc’d) who has competitive market intelligence on (Company) that he wanted to ensure got into your hands today – it’s time sensitive and may impact your competitive media investments in Q3.

I’ll leave it with you both from here, hoping this is a valuable connection for you.

Best,

The essence of the above sample is the fact that all your referrer has to do is hopefully copy and paste two sentences, sign their name, and move on with their day. By making it simple like this, you take away the hurdle of creating a whole new message themselves.

By building a very simple, straightforward referral plan like this, with a straightforward referral request, we can begin to proactively create referrals around prospects that we actually want to work with.  Hopefully, this pushes us from a place of hoping and wish for referrals, to actively pursuing and engaging referrals on a daily basis that can convert the types of prospects we really want to work with.

At the beginning of every year we all make resolutions to change something about ourselves either personally or professionally. If you’re an agency, you’re likely vowing to be more proactive with your new business resolutions and strategy in 2017. Don’t worry, about 85% of all agencies are in the exact same boat.

For any resolution to be successful however, there must be a plan in place and accountability against it. Throughout our discussion we will cover the following problem areas and also share KPI’s to ensure you’re tracking your progress.

• Dedicate more time to solely focus on new business
• Make a more compelling first impression via email
• Leave a phone message someone might actually respond to
• Build a social referral machine
• Write better content for our website

5 Resolutions Agencies Need to Make (and Keep) in 2017! from Catapult New Business on Vimeo.

The most effective new business processes turn prospects into leads by educating those prospects on how your products and services can solve their specific problems.

But when creating a proactive new business program, many teams struggle to know where to begin. We always point to these three areas to start your plan of attack: Audience, Content and Execution.

Audience

The first and most important step you should take when deciding how to begin your proactive outreach to prospects is to determine who your audience is. You need to know who your target audience is so you ask the right questions – who, why and what – to help narrow who you are marketing to. You must clearly define who your “right to win” clients are. If your team is perfectly positioned to provide the best service possible to a prospect in your niche, that’s a right to win client, and they should be working with you.

After you create your right to win list, you can begin including additional targets you see as great fits, which are a slight reach from your perfect right to win group. Agencies will often limit themselves by “fishing in too small of a pond,” or creating lists of prospects that exclude too many winnable clients. Create a realistic and appropriately sized group of contacts to attack with your approach. A great way to start thinking about Audience is to ask the following questions:

• In what areas is the agency most profitable?
• Who are you talking to now?
• What kind of business do you walk away from?
• What brands should be clients?
• What areas are most interesting to the team? What is the team passionate about?

By asking these questions, you’ll be able to determine who your audience is in a very specific, lead-driven way.

Content

Content drives just about every aspect of what we do in our lives—professionally and personally. In new business, you need to provide content that your new, specifically targeted audience wants to consume and share online. When getting started with your content strategy, start slow and don’t overextend yourself.

We’ve found that when teams commit to too much, too soon, one of two things happens: a) they burn out quickly on the process and it becomes a chore creating unique, branded content or; b) they begin building too much around a single whitepaper/eBook. Long-form content can be beneficial to your content strategy, but be careful not to let it consume hours of labor or hinder your ability to pivot across multiple audience groups.

When deciding what content should live on your editorial calendar, ask yourself questions like:

• Why does your agency exist? (less about what and how)
• What’s the one thing you do better than anyone else?
• What are the benefits of working with your agency?
• What type of work is outside of your scope? (this will help you drive more qualified conversations)
• What business problems do you solve for the identified prospect categories?

Content plays a key role in advancing your new business strategy, and increasing your prospects both within your targeted audience and outside of it.

Execution

We all dream big about winning new business, but you can’t approach that dream in an ad hoc manner. You need to have a plan set in place that is consistently repeatable, with very defined goals, measurements and activities. Your plan should involve everyone in the new business process—from Sales and Marketing to Management. At Catapult New Business, our goal is to always set a process in place that can be seamlessly transferred when changes to the team take place. During the execution phase, these are important questions you should ask:

• Who from the in-house team will be fulfilling each role in the sales/marketing process?
• What technologies do we currently have in place?
• How do we want to approach new prospects?
• How have we approached prospects in the past? What has worked best?
• Who has typically been the most receptive to our messaging?

A critical part of execution is how you leverage the content you’ve created, and the process your sales and marketing team uses that content to drive 1-1 sales conversations. By using your content to engage more often with prospects, you’ll see more opportunities to win clients.

Need help identifying a strategic plan of attack for winning new business? Contact us to learn more about how Catapult New Business implements successful new business processes for agencies.

“2017 is the year my agency is going to stop relying on business to find us, and the year we start proactively finding new clients.”  We are only two weeks into this year and already I have heard this statement from over two dozen agency principles who are absolutely convinced this year they will finally turn that proactive corner in their agency growth. In order to make that turn, those agencies have to make investments into its processes and the people in charge of it.

Here’s a quick list of investments that, if made this year, can actually make a difference in your 2017 new business plans:

Invest in People

Finally, after all of these years, somebody will have an exclusive focus on new business development! This means you are either going to hire someone in-house to manage new business full time, dedicate an existing employee to this full time, or outsource to a new biz partner. By not selecting one of these three options you could quickly find yourself accumulating wasted resources, meaning the opportunity cost of having employees work on new business while juggling other responsibilities. Investing in the focus of a full time employee to run this important task for you can save money in the long run, and more importantly produce a better ROI.

Invest in Data

You want to find new prospects? Well then you better have a resource to help you find exactly which companies are the best fit for your team, who their main points of contacts are, and what their most recent marketing activities are. There are plenty of data resources that exist (I am partial to Winmo), but without a resource the amount of time wasted in the “research” phase of prospecting can easily drain the enthusiasm of any new business director. Being more efficient in our prospecting efforts with quality data can be the difference in talking to 5 prospects a day and talking to 20 qualified prospects a day.

Invest in Content

One of my favorite quotes from Inbound this year was from Brian Halligan in which he said, “In 2006 your website augmented your salesperson, but in 2016 your salesperson augments your website”. While your New Business Director is vital to creating and cultivating a relationship, your website and the content you put out into the world is vital to establish credibility for your New Business Director. Too often we see New Business Directors left on an island unto themselves, where they are told to produce new business, but have no resources to show the value the agency can bring to the brand. Take the time, whether through a content person in-house, or outsourced, to create multiple quality content pieces that are easily sharable for your new business team.

Invest in Technology

Yellow note pads are not a CRM. I’ve walked into multiple agencies over the last month, sat down with the principal and seen a yellow note pad on their desk that is “tracking” all of their open opportunities for new business. Occasionally, I see someone tracking sales opportunities on an excel spreadsheet, but even then, there is no real automation or process around ensuring new business is handled in consistent way no matter who begins the sales process. At this point, a CRM and Marketing Automation tool should be mandatory for any agency, no matter how small. Salesforce is the most robust CRM out there, with plenty of connections to Marketing Automation tools like Hubspot and Pardot. My personal favorite for any agency just beginning their outbound efforts and starting from scratch is SharpSpring, which includes both a CRM and Marketing Automation tool.

Invest in Networks

Let’s face it, you can do everything alone, but why would you want to? If you are an independent agency, there are tons of independent agency networks out there that can be a real benefit to your team in the form of sharing ideas, successes, and failures. The ability to learn from others can make beginning any new business effort that much easier in the upcoming year. Aside from your typical agency networks, there are plenty of executive networking groups where you can share experiences with people in similar positions across industries. Vistage is fantastic group executives that provides its members a structured environment to learn and grow in small groups.

Invest in Time

The most valuable of all resources. Where you spend your time is where your priority lies. If you are going to change your new business outcome for the better in 2017, then you better be committed to putting time aside every single day to the process. Non-negotiable. You can buy all of the technology above, but if you do not consistently set time aside to properly utilize all of these, nothing changes. The easiest way to put that time aside – put an event on your calendar immediately, make it recurring, and do not allow it to be moved because of another priority. This is the priority, and it needs to happen if anything is to change in the New Year.

Growing an agency is not cheap. There are investments that absolutely have to be made, but if done thoughtfully and with an eye on creating repeatable, scalable processes, the returns will more than make up for the cost of building the processes. If 2017 is your year to change, then make the investment in yourself, and the returns will come.

There are many reasons successful agency executives join industry associations, and they boil down to two key goals:

1. Operational Excellence: You want to learn more about what your peers are doing to achieve success
2. New Business Growth: You’re simply looking to expand your network, get “face time” and drive a few sales on the side

Regardless of your intentions, participating in different groups within your industry can provide tremendous benefits for your business– especially when coupled with a proactive sales outreach program.

Associations are a great place to acquire knowledge to run your agency optimally, and depending on the organization, to make connections that lead to new business or potential referrals. 

We at Catapult have been in this business long enough to know the who’s-who of the adworld’s associations. To help agency executives, we’ve organized the top 5 marketing and advertising associations we think are worth investing your time. Check it out!

The Benefits for Agencies Joining a Marketing & Advertising Association 

The benefits of joining a marketing and advertising association range from networking opportunities and professional development to industry insights and advocacy. By leveraging the resources, connections, and expertise provided by these associations, you can enhance competitiveness, expand reach, and drive sustainable growth in the dynamic marketing and advertising landscape. 

Embracing association membership is not only a strategic investment in your agency’s future, but it’s also a testament to your commitment to excellence and innovation in serving clients and advancing the industry as a whole. We’ve listed the multiple significant advantages agencies can gain by becoming members of such associations.

1. Networking opportunities 

Networking lies at the heart of every successful agency’s growth strategy. Marketing and advertising associations provide a fertile ground for your agency to connect with like-minded professionals, potential clients, and industry leaders. By participating in association events, conferences, and online forums, you can expand your professional network, forge valuable partnerships, and uncover new business opportunities. These connections not only enhance your client base but also foster collaborations that can lead to innovative solutions and shared success.

2. Professional development 

Continuous learning and skill development are essential for your agency to remain competitive in the dynamic marketing landscape. Marketing and advertising associations offer a wealth of resources, workshops, seminars, and educational programs designed to enhance the professional development of agency professionals. From industry-specific certifications to specialized training sessions on emerging trends and technologies, these associations empower you and your team to hone your skills, stay updated on best practices, and adapt to evolving client needs.

3. Industry insights and trends 

Staying informed about the latest industry trends, consumer behavior shifts, and technological advancements is paramount for agencies striving to deliver cutting-edge solutions to their clients. Marketing and advertising associations serve as invaluable sources of industry insights and market intelligence. Through access to research reports, whitepapers, webinars, and expert panels, as a member, you gain a deeper understanding of market dynamics, emerging trends, and disruptive innovations. This knowledge equips you and your team to anticipate market changes, tailor your strategies accordingly, and maintain a competitive edge in the industry.

4. Advocacy and influence 

Marketing and advertising associations play a vital role in advocating for the interests of their members and shaping industry regulations and policies. By representing the collective voice of agencies, these associations influence government initiatives, industry standards, and ethical guidelines. As a member, you benefit from the advocacy efforts of these associations, which seek to create a conducive business environment, promote fair competition, and uphold the integrity of the profession. Additionally, active participation in association advocacy initiatives enables agencies to contribute to industry-wide conversations, drive positive change, and elevate their influence within the sector.

5. Visibility and credibility 

Membership in a reputable marketing and advertising association enhances your agency’s visibility and credibility within the industry and among potential clients. Being affiliated with a respected association signals to clients that your agency is committed to professional excellence, ethical conduct, and continuous improvement. Association membership also provides agencies with opportunities for recognition and awards, further bolstering their reputation as industry leaders and trusted partners.

6. Resource sharing and collaboration 

Let’s face it, we live in a work-from-home/hybrid, digital industry. Connecting with like minded people isn’t exactly easy. And this trend isn’t going anywhere. Marketing and advertising associations are a great way to break down digital barriers. They allow for collaboration and knowledge-sharing among agency members and brand marketers alike through online platforms, forums, and collaborative projects. Whether it’s sharing best practices, exchanging ideas, or collaborating on industry initiatives, these associations foster a culture of collaboration that benefits agencies of all sizes. 

Top Advertising Associations for Agency Executives 

Top 5 Marketing & Advertising Associations
Association	Description	Value for Agency Executives
Association of National Advertisers (ANA)	The ANA, founded in 1910, leads the marketing industry with over 680 companies and 10,000 brands, collectively spending $250 billion, embodying a century-long legacy of excellence.	Networking with brand decision makers Prospecting Building referrals
Mirren Direct	Founded in 2006, Mirren supports agency growth with consulting, training, and a resource center including Daily Leads, On-Demand Learning, and Advanced Webinars, empowering executives to optimize new business strategies.	Networking with other agency executives Staying up to date with client demands and industry trends
4A’s	Established in 1917, the 4A’s is the foremost U.S. trade association for advertising agencies, representing over 80% of total agency advertising volume with a membership of primarily small to mid-sized firms, of which over 60% bill less than $10 million annually.	Agency education Networking with other agency executives
Insights Association	Formerly the Marketing Research Association, Insights was founded in 1957 and is the largest U.S. association in the opinion and marketing research sector, setting industry standards.	Continued industry education Networking with brand decision makers Prospecting Building referrals
Interactive Advertising Bureau (IAB)	Founded in 1996, the IAB is the digital media’s primary hub, uniting over 650 leading companies, setting standards, conducting research, and educating on digital marketing’s significance.	Networking with brand decision makers Prospecting Building referrals

 

1. Association of National Advertisers (ANA)

The ANA (Association of National Advertisers) provides leadership that advances marketing excellence and shapes the future of the industry. Founded in 1910, the ANA’s membership includes more than 680 companies with 10,000 brands that collectively spend over $250 billion in marketing and advertising. The ANA also includes the Business Marketing Association (BMA) and the Brand Activation Association (BAA) which operate as divisions of the ANA, and the Advertising Educational Foundation which is an ANA subsidiary. With a rich history spanning over a century, the ANA has evolved into a powerhouse of marketing expertise and collaboration. 

Why Agency Executives Should Join ANA 

ANA is the premiere association for brand marketers, making it one of the most ideal forums to get in front of potential new business opportunities for agency executives. With numerous conferences tailored to advertisers held throughout the year, the chance to collaborate and network with top global brands, predominantly composed of corporate marketing executives, is unparalleled. From staying ahead of emerging trends to getting in front of potential clients, ANA is an ideal membership for any agency leader trying to build relationships with like minded industry pros and potential prospects. 

ANA Membership Fee 

While the ANA does not exclusively list its membership fees on its website, interested parties can easily inquire about pricing by contacting the association here.

ANA Events 

The ANA has an impressive list of industry events– hosting nearly 700 events every year. Several of these events are specifically designed to support agency growth initiatives. For a comprehensive look at the ANA’s event calendar, check out their website here. 

2. Mirren Direct 

Working closely with agency CEOs and their management teams, Mirren supports agencies with consulting and training regarding best practices in new business development. Through their membership you get access to their resource center which includes their Daily Leads, On-Demand Learning and Advanced Webinars. They provide invaluable insights and tools for agency executives seeking to optimize their new business development strategies.

Why Agency Executives Should Join Mirren 

Although Mirren isn’t technically an ‘association’, we wanted to include them on this list because Mirren is a household name for agencies, specifically those responsible for new business. Across events, on demand training and their new Mirren Talent platform agency professionals leverage Mirren to crank up their growth by staying on top of the cutting-edge best practices. By leveraging Mirren’s expertise and resources, agencies can enhance their competitive edge, drive growth, and expand their industry presence. 

Mirren Membership Fee 

Mirren membership pricing varies by the agency plan. The monthly fee for the Starter membership is $285, while the Premium membership is priced at $465 per month. Opting for the All Access membership entails a monthly fee of $885. Explore the details and membership benefits of each plan here. 

Mirren Events 

One of the go-to annual events for those responsible in driving agency new business, Mirren Live consistently brings together an impressive group of leading agencies and search consultants each year to learn about hot topics and growth drivers for successful agencies. Besides Mirren Live, Mirren also offers specialized workshops, training sessions, and webinars tailored to agency executives and professionals seeking to optimize their new business strategies and drive agency growth. These events may focus on specific topics such as prospecting techniques, pitch strategy, client retention, agency operations, and leadership development. Find their events here. 

3. 4A’s 

Founded in 1917, the 4A’s is the national trade association representing the advertising agency business in the United States. As a management-oriented association, the 4A’s offers its members the broadest possible services, expertise and information regarding the advertising agency business. Its membership produces approximately 80 percent of the total advertising volume placed by agencies nationwide. Although virtually all of the large, multinational agencies are members of the 4A’s, more than 60 percent of our membership bills less than $10 million per year.

Why Agency Executives Should Join 4A’s

In our opinion, the 4A’s is the ‘mother organization’ of agencies, and is a great fit for agencies of all types and sizes. They offer valuable training, conferences, and best practices in how to drive agency sales, profits and develop new business. For agencies seeking unparalleled industry insights and networking opportunities, the 4A’s is the go-to resource. Members gain access to exclusive tools and events designed to elevate your agency’s success in the dynamic advertising landscape. With their extensive network and comprehensive services, the 4A’s is committed to empowering agencies to thrive in the ever-evolving world of advertising.

4A’s Membership Fee 

Joining the 4A’s involves a straightforward application process upon meeting eligibility criteria and endorsing the code of conduct. Upon submission, applications undergo thorough review of agency and financial documentation, followed by a voting process that typically takes 2-4 weeks. Membership dues are determined by the annual gross income of the agency for the preceding calendar year, aligned with the 4A’s fiscal year running from April 1 to March 31. Dues are pro-rated according to the commencement date of membership, ensuring fair and transparent financial arrangements for all members.

4A’s Events 

From dynamic conferences to insightful workshops, 4A’s events gather industry leaders, creative minds, and innovative thinkers to explore the latest trends, strategies, and technologies shaping the advertising landscape. These events have unparalleled networking opportunities, expert panels, and inspiring keynotes designed to empower agencies of all sizes to thrive in today’s competitive market. For an overview of 4A’s events, check out the full calendar here.

4. Insights Association 

Previously known as the Marketing Research Association, Insights Association was founded in 1957 and based in Washington. The Insights Association is the leading and largest U.S. association of the opinion and marketing research profession, which delivers insights and strategies to help guide the decisions of companies providing products and services to consumers and businesses. Insights continues to shape the industry landscape, setting standards for excellence and ethical conduct. 

Why Agency Executives Should Join Insights

The Insights Association has a bit more wide-reaching content designed for easy consumption. You’ll find videos and case studies on particular trends, as well as frequent editorials on the latest marketing news. But underneath this sort of aggregation is a solid foundation of research and marketing communities available to those who take the next step. Membership is divided in multiple levels, but again the focus is primarily around the core principles of research and data-driven decision-making as opposed to more social aspects of marketing. 

Insights Membership Fee 

Membership dues are $375 USD annually and will be prorated if joining between April 1 and November 30. If selected, Optional Additional Chapters will be billed at $40/each. Learn more about the application process here. 

Insights Events 

Discover the latest trends and innovations in marketing research at Insights events. Insights has engaging conferences, interactive workshops, and expert-led sessions designed to deepen your understanding of consumer behavior and market dynamics. Connect with industry leaders and expand your network while gaining valuable insights to drive your business forward. Here is a listing of all of their upcoming events. 

5. Interactive Advertising Bureau (IAB)

IAB (Interactive Advertising Bureau) serves as digital media’s biggest tent, comprising more than 650 leading media and technology companies that are responsible for selling, delivering, and optimizing digital advertising or marketing campaigns. Working with its member companies, IAB develops technical standards and best practices and fields critical research on interactive advertising, while educating brands, agencies, and the wider business community on the importance of digital marketing.

Why Agency Executives Should Join IAB 

The IAB gives the best of all worlds for agency executives… much like the ANA, many of its members consist of brand marketers– making it an ideal place for prospecting opportunities.  And like the MRA, the IAB is a great place to stay ahead of industry trends. The association provides many tools and classes for free without requiring membership or certification which is always a plus. This includes fee calculators, ad viewability guides, and much more. Certification is divided into several different specialties and levels of expertise, allowing you to customize your training based on your position and goals. 

IAB Membership Fee 

Depending on the type of business you are in there are 3 rate cards that may apply.

The Media Buying agency Rate Card ranges from $10,000 to $200,000 annually. The Creative Agency Rate Card ranges from $5,000 to $15,000. The All Other Rate Card ranges from $10,000 to $294,933+. You can find more information on the IAB membership categories and rate cards here. 

IAB Events 

Discover unparalleled insights and networking opportunities at IAB events, where industry leaders meet to shape the future of digital advertising and marketing. From dynamic conferences to interactive workshops, IAB events offer a platform for professionals to remain at the forefront of innovation in the digital space. Gain invaluable knowledge from expert-led sessions and panel discussions, covering the latest trends, technologies, and best practices in digital advertising. IAB events provide a unique opportunity to expand your network, elevate your skills, and stay informed on the latest industry developments. You can find all of their upcoming events here. 

Conclusion: Couple Networking with a Proactive Business Development Program for Optimal New Business Success

Joining leading marketing and advertising associations such as the ANA, Mirren, 4A’s, Insights, and the IAB opens doors to a wealth of opportunities and resources for agency executives. By becoming a member of these esteemed associations, you can stay informed on the latest trends, gain access to valuable resources, expand your network, and elevate you and your team’s skills.

But we’re gonna take it a step further. We won’t deny the value of networking– relationships are key. But, referrals aren’t consistent, no matter how many associations you join. That’s where having a proactive outbound business development program is critical to ensure you aren’t leaving money on the table. 

At Catapult, we not only provide outsourced business development services dedicated to driving new revenue for your firm– but we also have strong, established relationships with these associations. Our mission is to create a sustainable pathway to agency growth by getting you ‘in the conversation’ and ‘in the room’ with brands that can benefit from your solutions. With our expertise across all facets of the marketing communications industry, we help convert relationships into new business wins—all without a competitive RFP. Agencies partner with us when they’ve made the commitment to grow and need a proven, viable, and scalable way to do so, with a resource solely focused on proactive new business prospecting. Join us at Catapult where we have generated qualified leads and created pipelines with over $1 billion in defined new business opportunities to date. 

Check out a few recent wins for our agencies!

 

Updated March 5, 2024

One of the most dangerous traps your agency can fall into is thinking that once you’ve signed a client, your job is done. This mentality is even more dangerous if you or your business development team overpromised and oversold to get the client in the first place.

In fact, signing the client is just the beginning of the work. Maintaining a high level of client satisfaction is critical — and not just for client retention. Just as employers check references and look at a candidate’s tenure with previous companies, new prospects share the same concerns when hiring an agency.

If a potential new client hears negative feedback through word-of-mouth referrals or online reviews, it immediately undermines whatever relationship you have built up to that point and discounts your agency’s credibility. To be fair, every agency is going to have at least a couple of disgruntled former clients, but if your agency is known for over promising and under delivering, or for its struggles with client retention then acquiring new business is going to be an uphill battle.

Although you can’t prevent every client from leaving, you could be chasing clients away without even realizing it. Here are three of the most common reasons why agency relationships fall apart, causing clients to walk out the door.

Allowing the Quality of Service To Slip:

Allowing your customer service to decline once you’ve secured their business is one of the top ways to ensure that you lose that client.  Your level of service and excitement should stay the same during your working relationship as it did when you were pursuing the client.  Letting the amount of attention, care, and creativity decline will lead clients to believe that they aren’t as important as they were before, which will lead to discontent with the product they are paying for, and eventually they will move to another agency.

Not Meeting Their Needs/Evolving With Them:

Don’t let them get bored with you! If a client feels that you are out of new and exciting ideas for them, what reason do they have to stay with you?  Just because a campaign has been successful, doesn’t mean that you get to stop innovating.  Successful agency/client relationships are built on an ever changing and improving flow of ideas and communications, when you stop listening to your client and anticipating their needs, the odds that you will lose their business skyrockets.  Become an expert at anticipating your clients needs, read between the lines if you have to and learn to pick up any clues that might indicate they are dissatisfied.  If they appear to be losing excitement over a campaign, chances are it’s time to come up with a new plan.

Toot Your Agency’s Horn:

If your client forgets how successful your agency is and how much quality work you crank out, what is going to keep them with you?  Remind them how successful you’ve been with their account, highlight major wins, and always keep a tight handle on their budget.  When you stop meeting their needs and either go way over budget, or way under budget, they will start to wonder what they are paying you for.

Clues Your Client Is About to Stray:

If you notice a dramatic change in these three clues, you’re client relationship is likely in big trouble.

Lack of communication – has the client stopped taking your calls or contacting you?

New and Unusual Requests – is the client asking for different or more specific methods of measurement for your service?

Sudden Micro Management – is your hands off client suddenly on top of everything you do?

Stay tuned into your client, keep the lines of communication open, and ASK them if they are satisfied with your service, or if there is something more you can do to meet their needs, doing so might save you from losing their business!

The expanding reach of the Internet is increasing competition for clients, making it difficult to find the right marketing mix to generate new business. Fortunately, using online tools to aggregate your marketing efforts can streamline your business development initiatives and boost your gross sales. In particular, comprehensive online marketing platforms tend to be the best tools for winning new business.

Online Marketing Platforms

If you’re having a hard time managing ad campaigns, lead generation campaigns and your marketing research objectives, then online marketing platforms can make a substantive difference in your life. You can perform all of these functions and more, simply by logging into a single platform that aggregates these services for you. There is no reason to log in and out of multiple applications to win new business, when a single platform makes the process easier.

In addition to making the process more efficient, these platforms also enhance the quality of your activities and the results you generate. You’re able to generate real-time analytics that can help you optimize the way you gather leads, and who you actually gather them from. Whether its higher sales conversions and sales, lower levels of bad debt and higher repeat business, online marketing plaforms can change the dynamics of your business.

Additional Resources

In addition to online marketing platforms, online marketplaces can help you generate new business without a lot of additional marketing costs. Online marketplaces help you reduce everything from your operating expenses to your cost of sales, because the marketplace maintenance is typically handled by a third-party service provider. You can advertise your services to clients all over the world and conduct transactions is a single currency, depending on the construction of the marketplace.

There are also organizations that specialize in content marketing and online marketing strategies that can help your advertising agency generate new business. The content you put out to the world has a high impact on your ability to generate and retain business, making it one of the most important marketing factors to master.

5 of the best online tools and resources for new business development include:

1. DailyVista
2. Winmo
3. Content Marketing Institute
4. Guru.com
5. Elance.com

Winning new business is a process that requires research and effective online marketing tools that help you leverage the power of the Internet to grow your company. Be sure to use online marketing platforms to optimize your marketing campaigns and advertising strategies.

One of the greatest challenges in the agency world is entering a growth phase…when you aren’t seeing much growth. In a perfect world, business growth would happen naturally in easy-to-predict stages, but that isn’t this world – chances are good that instead you need to grow, but aren’t seeing it happen. Here are the three top reasons it happens to agencies like yours, and what you need to make real growth happen.

1. Financial Management Issues

This sounds like a broad topic, because it really is – financial management stretches from day-to-day profits all the way to major capital and investment decisions. However, financial planning and consistent new business growth play integral roles when it comes to company growth.

This can take many forms. Perhaps poor cash flow management is holding your company back – you may struggle with accounting for where your cash comes from and where it goes at the proper time, a problem many new businesses encounter. As a result, agencies like yours quickly find themselves without cash on hand to cover supplies and overhead, and emergencies quickly dig into valuable reserves so there really isn’t much time to think about expansion at all.

Another common financial management deals with revenue and credit. If your credit policies and accounts receivable turnover are poor, you will probably never have enough capital to expand. Creating purchase strategies that get revenue into your hands in a timely manner can be a challenge for many companies. You want customers to have the ability to purchase your goods, but you can’t give them too much credit leeway or too many discounts, which will dig into your profits.

What do these problems add up to? A business without cash reserves that simply does not look very impressive on paper. And this is where we reach the investor problem: Business growth requires money, typically via business loans or perhaps a capital group. Banks and investors alike pay a lot of attention to financial statements, which means poor financial management – even in the small things – can keep you from getting the capital that you need.

2. Adaptation to Market Changes

This point is a bit more intangible, but still just as important when looking for reasons why your business isn’t seeing the growth you want: You aren’t watching the market closely enough, and you aren’t responding to it properly.

Part of this is an entrepreneurial issue: New business leaders tend to have a lot of energy and willpower focused in one direction, which means it can be difficult for these leaders to see related issues – and to change. Stubbornness has kept many a business from expanding properly.

Part of this problem is also simple business evolution: If your target demographic, preferred purchasing method, or the communication tools in your industry have changed, you absolutely have to change with them to find new growth.

3. Client Creep and Time Management

This is a subtler problem related to agencies that interact a lot with their customers and typically take on large client projects. Clients are your lifeblood…but they can also choke your own vision for your business. If you and your employees are spending too much time attending to client needs and tackling their complex projects, you may not have any time left to think about your own business and growth strategies. Pay attention to time management, and be sure to make time for nurturing and developing new business opportunities outside of your referral network.