How Not To Win While Losing
“I read your long blog post, “How to Build A Winning Advertising Agency New Business Program“. Every sentence is worthwhile.
I did new business at Big NYC and Big L.A. agencies, and then at BlahBlah/SF, where it was my sole responsibility for 3 years. The biggest thing I noticed at BlahBlah was that they lost their biggest client every year. If they had shut down the new business operation and had me, or someone like me, be the client retention and client delight manager, the agency would’ve doubled in size just by not losing the biggest account.
What a piece of insight! But, being digital geeks, the principals didn’t like to leave their desks, screenss and their HQ meetings. Instead of wandering the halls of their biggest clients, cementing the relationship and pulling in even more business, they stayed in the office talking about getting new clients, which, as we know, is a low-odds practice.”
Business Development Is A Must Do
I tell all of my agency clients that they must have a business development plan that runs 24/7 because they will lose large clients every year. This inevitable loss has accelerated over the past few years because an ever increasing number of client assignments are now ‘projects.’ Larger, longer Agency Of Record accounts are becoming scarce. Is the need for a BD plan a secret? No. But, half of all agencies don’t have a sustained sales effort that will replace those lost clients.