Advertising Agency New Business Is Expensive
Over the next few weeks, I am going to be writing about the costs associated with advertising agency new business programs and how to offset these costs by increasing your win rate and ROI. There are many costs to an agency beyond the high dollar cost. But, since the cash cost has the highest rate of winging… here you go. These calculations are from my pitch book and have been blessed as reasonable averages by my industry contacts.
The Big Metaphor
Agency CEO’s and Business Development Directors occasionally use metaphors to help describe their business development efforts. One of the all-time favorites is how similar agencies are to cobblers and shoes. Cobblers do not have the time to make shoes for their children, and too many agencies don’t make the time to run smart business development programs.
Here’s another metaphor.
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