After enjoying the hottest summer on record, it’s hard to believe that we are now entering autumn and before you know it winter will be upon us.
However, before you get too depressed at the nights drawing in and settle down for evenings binge-watching box sets instead of enjoying BBQs in the garden, there is a glimmer of light that should cheer up even the most curmudgeonly of agency owners…
New business opportunities are absolutely rife at this time of year.
As the UK’s longest established (and best) new business agency, working for clients across the marketing services industry, we know a thing or two about the importance of ensuring you are speaking to the right people at the right time. And autumn really is a crucial time in “The Game of Phones”.
We report on a range of statistics regularly and one element of this analysis shows the number of new business meetings we set on behalf of our clients each month. Historically, we see a spike in these meetings during the period September – November, with these three months appearing at the top of the ‘league table’ more frequently than any other months. We have been measuring this data for over 20 years, so can safely rule out any blips.
With this in mind, it is no surprise that this in turn leads to an increase in the number of opportunities from marketing decision makers, either handing out briefs to prospective agencies or inviting them to pitch for new work.
Now, before you get too excited about all this, let me give you a Stark reminder – you’ll need to keep your head firmly on your shoulders if you want to benefit from this.
Sadly, you can’t sit on your Iron Throne and rely on these opportunities just falling into your lap.
Given the rich pickings at this time of year, you’ll need to act quickly and with a robust strategy in place. Here are a few points to keep in mind:
- The time to act is NOW. Don’t put your new business efforts off during this period of increased opportunities.
- Identify your target market carefully so you are working efficiently.
- Ensure you have the right tools for the job – i.e good data and a fully functional CRM system to ensure you are following up the right people at the right time.
- Be aware of the issues within the industry and the specific companies you are targeting so that you are in a strong position to suggest solutions. Industry-wide this may mean reading the trade press, whereas within specific companies it will mean having meaningful conversations with their marketing decision makers to get in-depth views about the issues directly affecting them.
- Remember that winning new business is a numbers game. If you are following the points above you will streamline this process, but you will need to actually speak to people in the first place and you may need to make several attempts for that initial contact.
This infographic shows statistics on the number of phone calls you should expect to make to reach a marketing decision maker, why first impressions on the call are so important and what kind of ROI may come of it. If at first you don’t succeed, don’t be afraid to try again.
Finally, since there’s been a few Game of Thrones references in this blog, think of Alchemis along the lines of the Night’s Watch of new business – experts in their field and doing the job for years and years.
Winter is coming. Don’t end up in the new business wilderness on the other side of The Wall. Be proactive and reap the benefits of what you sow.
If you would like to discuss any of your new business challenges, please get in touch.