It is great to have perspective in business and in life. I have learned a lot about the ways agencies hunt from my hunting experiences and being an agency review consultant.
I often see many new business efforts that are a total waste of time. I could be talking on the phone to somebody who sees opportunity and I think they are wasting their time. But we have all been there. I have to admit that on occasion I am guilty as charged. Because creative people see opportunity they can often be mislead by too much personal passion. It is a fine line to walk.
I think that agencies need to access where their New Business plans are on the opportunity meter. In New Business there are two P’s. Probability and Possibility. The best metric is probability but many agencies with short runways chase possibility and that is the wrong strategy. Chasing possibility is something you do when the larder is full and things are rosy and toasty and not needy. But needy agencies often lose radar.
I have learned over the years as a search consultant that clients switch agencies or work with agencies for two P’s. Pain and Promise. When I do an agency review the pain is getting pretty acute. Then there is the Promise component. Most clients love to embrace promise. That is an idea that can move their business ahead and make them an internal hero.
In the Old Normal clients had more time and would take a call with somebody they had a solution for them and possibly take a meeting. In the New Normal nobody answers the phone from a blocked number or a number they don’t know. If you get lucky and get them on the phone by calling at 7.30 AM or 6.00 PM they are less likely to take a meeting based on your sell that want to see how your platform of marketing solutions can align with their marketing needs. You are selling solutions looking for a problem which is akin to going through the Eye of the Needle.
At a recent New Business Conference in LA put on by Think LA and Mirren I had the opportunity to hear a client speaker from a major cool national brand that all small, medium, and major agencies would love to have. They had also worked on the agency side. Somebody asked him what was the best way to connect with you? Do you like email? He turned to the audience and said do you know how many emails I get a day? I could see that he was overwhelmed by today’s New Normal.
What’s the best way to get to you?
Networking is what he said.
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