It’s been over a year since we all began the trial and error of remote working and virtual meetings, no matter the industry. Although the pandemic brought challenges and adversities, there is one thing we, at Catapult, all agree on – video meetings have drastically changed the business development process and improved client relationships. Whether it’s between us and our agency partners or our agency partners and their own clients, video meetings work to build trust, accelerate the sales process, and create a personal touch in even your most typical every day interactions.

Video conferencing is here to stay. According to a recent report from Transparency Marketing Research, “the video conferencing market is expected to show a compound annual growth rate of 8.4% between 2020 and 2027.” Even when we emerge from COVID and things start to “get back to normal” (whatever that looks like!), video meetings will be a significant part of how we work, how business is done, and how we communicate and interact.

I sat down with our two Vice Presidents of Client Success, Bonnie Buie and Robin Ernstes, to chat through examples of how video meetings have transformed our agency relationships.

Here are 6 ways video meetings have improved client relationships:

1. We are building a genuine rapport with our clients quicker than ever before.

We have gained deeper connections with our clients as we meet over video calls in their living rooms while their children or pets are in the background. It’s strange to think that while physical human interaction is so limited right now we actually feel closer to each of our clients than before the pandemic because we all truly know one another better.

2. Video calls have made meetings, in general, feel more human.

Before the shift in video, most people read emotions into an email that wasn’t actually present or heard a tone in a voice that wasn’t intended. Things no longer get lost in tone given that we can read body language throughout all meetings.  It also helps your prospects remember you, as you’ll no longer be just another email in their inbox but now a face to a real person that they have spent time with.

3. Face-to-face meetings have improved the overall understanding of one another and allows everyone to communicate more clearly.

Because up to 93% of communication uses nonverbal cues, it makes sense that video conferences improve communication and understanding.  Timing of when to speak, and more importantly when not to speak, is easily read through video, where a conference call can have people interrupting regularly.

4. The sales process is more efficient.

There is no more wasted time coordinating travel and schedules around meeting in person. We’ve used all of the extra hours saved from not traveling to connect with more potential leads to fill our agencies’ pipelines. That means more phone calls talking to prospects about new business, and less phone calls figuring out how to match calendars with travel plans.

5. Video conferencing allows for flexible pitching.

More effective communication means that we can be flexible in our sales approach as we take notice when a prospect leans in or becomes disengaged.

6. Screen sharing eliminates whether or not your prospect has seen your assets.

Instead of attaching presentations and other collateral in emails and hoping a prospect opens them, it is now easier than ever to simply share these things over a screen share during a video call. Long gone are the days of them having to download a screensharing software.

Sales is all about building strong client relationships.

Video conferencing is going to continue to be key in building a solid foundation of future client relationships. And with the lower costs, increased efficiencies, and more productive meetings, your agency can increase capacity, close deals faster, and generate more revenue.

 

 

 

The new year is here. And now is the time you’ll activate the plan you’ve spent countless hours on to ensure a successful, profitable year. So what are your top priorities for 2020? New business is probably at the top of the list. And creating a pipeline of the highest value, qualified prospects that are ripe for conversion is the key to success. At least part of your business development efforts and pipeline should be focused on winning the game changer client this year. I’m talking about the client that will significantly improve the health and wealth of your agency. We want 2020 to be the year you attract the game changer client for your agency.

The biggest challenge? Getting your sales positioning spot on and specific to your target list. Clear positioning will differentiate you from the competition, and should be based on how you can help your highest value prospects create competitive advantage. With that being said, it’s also important to clearly define the highest value prospects, the Game Changers, for your agency. 

So which do you tackle first when they both need to be addressed simultaneously as they inform each other? A good starting point is to gather your team and work through the questions below to ensure your positioning is spot on and a target prospect list you have the right to win business with.

Here’s our recommended checklist for creating the right positioning and target lists to attract the Game Changer client:

Positioning

Question 1: Who is your agency?

To evaluate your agency’s positioning to prospects, first get laser clear on the core of what differentiates your agency by exploring these key questions:

• What’s your agency’s purpose? 
• What gets management up in the morning?
• Do you know what are your employee’s core passions?
• What are you exceptionally good at?
• Services/Industries?
• What can your agency build a strong POV around?
• What can your agency own versus your competitors?

Question 2: What will the agency look like in 18-24 months?

• What are the agency’s revenues goals?
• Which industries/technologies do we want to be “experts” in?
• Do we have the services to be competitive?
• Do we have the talent to lead the agency at that level?
• What will our thought leadership look like?

Target Prospects

Question 1: Which type of client is the agency Game Changer?

To narrow down the highest value potential clients you want on your roster in 18-24 months, consider the following:

• What industry(s) should we focus on?
• What is the revenue potential?
• Where are they in their product lifecycle?
• What types of marketing programs do they utilize?
• Are there any geographic constraints?
• What type of prospect shares your agency POV and Philosophy?

Now that you’ve clarified your positioning and the game changer prospects you want to attract, it’s time to focus communications about the agency on what your customers are interested in (it’s about them, not you), so that they will want to learn more. This is the first step in building credibility with prospects.

Question 2: Do you have credibility to engage the Game Changer?

As you create your prospect list (against the above criteria) you also need to determine how ready the agency is NOW to engage them – or what adjustments need to be made for success:

• Do you understand the Game Changer prospect’s pain points and business challenges?
• What content (Intellectual Capital) do you have to share and engage them?
• Is the content campaign able to generate multiple outreach occasions?
• Does your web site and other collateral speak to the prospect’s pain points and needs?

As you work through these positioning and prospect checklists, you may find your target opportunities become significantly more qualified for your agency to win because you can focus on the ones where you have  right to win. And when you attract qualified prospects that are right for your agency you will inevitably attract the Game Changer. Here’s to a game changing 2020!

Let’s set the scene here: You’ve managed to secure a meeting with a C-level executive for a global brand, and now it’s time to deliver your presentation and make your pitch. What happens during the next hour will determine whether you have a shot at closing the account or not. With that being said, many agencies say their biggest struggle is their sales approach and that they don’t fully understand what an executive hopes to get out of a meeting until it’s too late. So let’s rethink the entire process for your agency with these 8 tips for closing the sale.

If you ask a dozen sales people for their best tips on closing, you’d probably get a dozen different responses. While many sales techniques are as different as those who are executing them, there’s still some tried and true tips everyone should use to effectively close.

Here are 8 tips for closing the sale and winning big business.

1. Earn the right.

Before you can close the deal, you must earn the right to do so. You earn it by delivering on your promises, consistently following up, and showing up for meetings on time, every time. Make it clear during every interaction with the prospect that you are well prepared and eager to serve them and increase their bottom line. Focus each touchpoint on how you can help them instead of what you can get out of them, and you will eventually earn the right to ask for the sale.

2. Make the work the focal point.

Brands primarily want to see the work an agency has produced. Your opening remarks on a call or greeting during an in-person meeting should last no more than five to ten minutes. As the agency principle, you may provide some background of the agency’s culture, but should not waste time trying to impress the prospect with your industry philosophy or views of the landscape. Just get to the good stuff. It’s what your prospects want to see. 

Find a simple way to provide your current list of key clients or accounts, so they can see if there are conflicts or similar businesses. Make sure a creative director is available to give more detail on your work.

3. Provide context and results.

Brands want to know how your agency uses creativity to solve business challenges. Don’t just show the highlights – prospects want to see your full scope of work. Case studies work best in order to clearly articulate your client success. When presenting case studies, use context, action, and results (CAR). Give a brief overview of the challenge for each campaign, and discuss the action you took, and with some key results. We also recommend including a timeline of your project or cost data to show your efficiency. Be prepared to defend your creative choices while presenting case studies in a way that reinforces your client’s trust and makes it hard for your prospect to live without you.

4. Sell more value.

In a price-sensitive market, you win the business when you can show more value than the asking price. Value is determined not by the market, but by your customer. Show them your product or service is more valuable than the price, and the sale is yours.

You can also showcase how your ideas translate across different mediums to prove your value. Share at least a handful of case studies that represent your portfolio across various categories. Don’t worry if there isn’t anything specific to the vertical your prospect competes in. Brand executives will expect to see work that goes well beyond their own category. 

 5. Prepare and plan.

If you’ve spent the time to make your prospect understand your value is greater than the price you are asking, it’s time for you to prepare and to plan for the close. Preparing includes all the information, paperwork, forms, etc. you need to move forward and making sure you’ve had the right conversations with the right people. You should also anticipate any last-minute objections your prospect might have and how you will respond to them.

6. Make them understand you’re different.

Your prospects want to know your unique capabilities. Identify what makes you different from the agency down the street — those are your superpowers. Maybe you have a specialty in a particular vertical, like experiential activations or events. Maybe you have a lot of experience with a particular target audience, have done work in a specific product category, or you’ve launched new brands with tremendous success. Look for opportunities to consistently reinforce your superpowers to prospects.

7. Under promise and over deliver.

Don’t make the rookie mistake of promising something you cannot deliver. If your product or service takes some time to fully execute, never promise you can deliver something sooner. It’s common sense, I know, but you’d be surprised what someone will guarantee when they’re under the pressure to close the sale. 

If you under promise, you’ll have ample opportunity to over deliver. Why over promise when it already takes long enough to gain trust from your buyer? And when you exceed the expectation you’ve set, your prospect will realize your agency can be an essential part of their business.

8. Ask for next steps.

After any touchpoint with your prospect, ask the customer what the next steps would be. If they are unsure, make suggestions of steps that move you closer to closing.  Keep in mind – the next step could be to finalize the deal, but often, inexperienced sales people add too many steps before trying to close.

We hope these 8 tips for closing the sale guide you during your sales cycle with the prospect you’ve always dreamed of working with. Being skilled at closing is arguably one of the most important techniques to master in sales. If your agency wants to improve your current sales process including positioning, pitching and closing, contact us today.  Whether you need to elevate your existing business development plan or don’t know where to start, Catapult can assist in creating new business opportunities that will help scale and sustain your agency’s growth.

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.