The Flaw in Your Agency's New Business Strategy

Webinar: New Business
Mastery Course – Proactive New Business

Webinar: New Business
A key flaw in your agency business
development strategy, and how to overcome it.

Webinar: Host
Dave Currie
President, LPI
davec@thelistinc.com
@NewBizDingo
/davecurrieLPI

USA
15 – 300+ Employees
000’s of Agency Clients >=$1.0M New Business
Sample pool of agencies
Since 1995

What is the role of
Business Development?
© 2015 Catapult New Business

What are the expectations?

Why do they keep changing?

Key flaw
Role mash-up of Sales & Marketing

Two VERY different roles,
expectations and outcomes.

Require different skills sets,
uncommon in one individual.

Deliberate separation into Marketing & Sales functions
A Best Practice Approach
Marketing Sales
Content
Strategic
Activation
Tactical
Marketing
Generated Leads
(MGL)
Sales Generated
Leads
(SGL)

Often prioritized in different ways
throughout the year

Biggest blunder:
Distraction of focus on the prize

Chris M.
Executive Vice President
Global Brand Activation Agency
We need our Business Development
Director focused on what she’s been
hired to do – which is prospecting and
selling.

How do you improve?

Today’s agenda

2. Best Practice Process
1. Success Measures
3. Implementation Plan

1. Success Measures
What successful agency business development
programs have in common

Who are we talking about?
Top 5% who have a formula that
consistently works.

The whole picture

Deliberate Marketing Plan
Deliberate Sales Plan

Deliberate Marketing Plan
Conversion based website:
2k Visits & 25 Conversions / Month = 1.25%
CRM: Activities logged on MGL / SGL
Marketing Automation: 5k Audience, 3 emails/mth, 7% Click
Moderately active on social media
3,500 words of content per month
© 2015 Catapult New Business *Source: Statistics provided by Newfangled www.newfangled.com

Deliberate Sales Plan
Defined function, dedicated role <22%
Benchmarks define success <13%
Formalized Roadmap for engagement <6%
Sales conversion plan <6%
© 2015 Catapult New Business *Source: Statistics provided by LPI

What are the top 5% doing differently?

2. Best Practice Process
Simplifying Core of Business Development

Biggest blunder:
Prioritization uncertainty.
What is most important today?

Sales Role Simplified

Drive new incremental revenue

1. Drive incremental revenue
2. Focus on strategic and tactical paths to obtain
3. Set clear expectations
4. Implement consistently
Business Development: Sales Role Simplified

Simplify Expectations

Dedicated BDD do three things;
Research
Prospect
Sell

1. Research:
Only 14% undertake pre-call research
Only 18% have triggers defined on target prospects
2. Prospect:
Only 5% undertake consistent prospecting activity daily
3. Sell:
Only 5% have formalized annual sales training
Only 3% have a written sales plan for new or existing
customers
Dedicated BBD
© 2015 Catapult New Business Source: LPI

3. Implementation Plan
What the best do today. What 5% will do.

Simplify objectives

Secure that first scheduled interaction

One scheduled interaction to another

Incremental steps only path to
consistently winning new business.

Simplify workflow

Biggest blunder:
Distractions aka Groove Killers

Buckets of work

Model: Buckets of work
Researching Prospecting Selling

Success Factor: Cycle through buckets of work
Researching Prospecting Selling
30% 65% 5%
Time Spilt:

Workflow Efficiency

Simplify prospecting
interaction

Interaction Roadmap
Defining a specific path for each interaction

To get to first scheduled interaction

…and lead to the next

Entice
Disarm
Discover

1. Entice:
Problem you uniquely solve with dramatic results.
2. Disarm:
Disarm notion that you sell to everyone
< less than half of the people I speak to
Can’t promise this will help you
3. Discover:
Proceed with asking great questions to uncover 3 i’s
Process flow

Issue
Impact
Importance

1. Issue:
What is the issue/problem they are trying to solve?
2. Impact:
How is the organization impacted by NOT solving?
3. Importance:
How important is it to the person you're working with to
solve issue/problem?
Why now?
Questions prospect needs to answer

It’s not BD’s role to convince a prospect – it’s their job
to ask the right questions.
Empower the prospect to identify that their issue has
enough impact on their business, and is important
enough to solve, to make it worth our time to help them
find a solution together.
Remember

Build your concise business case

Outcomes, fees and terms

Closing / Converting

Entice Disarm Discover
Issue Impact Importance
Buying Vision
Concise Business Case
Proposal
Closing

3a. Your Implementation Plan
What the 5% will do after this session.

Within 24hrs >200% increase in
likelihood of implementation.

Ownership. Accountability.

Deliberate separation into Marketing & Sales functions
1. Deliberate Separation
Marketing Sales
Content
Strategic
Activation
Tactical
Marketing
Generated Leads
(MGL)
Sales Generated
Leads
(SGL)

Dedicated BDD functions:
Research
Prospect
Sell

Exercises to walk through to help define each of these success
measures.
Help with research on national advertisers and their agencies
Define prospecting techniques to follow, and questions to ask
Help set standard benchmarks to achieve over time
Just for you 5 percenters

Need a Sherpa?
We apply these principles to win new business
for agencies with national advertisers.

Outsource the functions of
marketing and sales.

Compliment and build upon internal
resources to scale.

Thank you
Dave Currie
President, LPI
davec@thelistinc.com
@NewBizDingo
/davecurrieLPI

The Flaw in Your Agency's New Business Strategy

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