There seems to be a real buzz of possibility in the air and some really solid business development strategising going on out there. There is, of course, a level of anxiety about the economy and the impact that will have on new business this year, but there is also a sense of taking control and being proactive.
There are two key strategies that will serve you well, no matter what the economy is doing:
- Never ever turn off the tap on new business.
When budgets get tighter, often agencies look for ways to cut costs. And their own marketing and new business support can often be seen as a ‘nice to have’. But it really isn’t.We’ve said before (and we’ll say it again) that new business should be an ‘always on’ approach. Keep that front of mind, always. And if tougher times are ahead, then this is an area you should be ramping up, not winding down. Putting in consistent work and effort now will bring rewards in tougher times.
- Show your value to clients. Make sure your clients are constantly seeing the return working with you brings. If you understand their objectives and are central to helping them deliver this, then you’re 100% on the right track. Make sure you’re having conversations about results and that you’re getting regular feedback from them. Delivering value wins every time.
Whether there are tougher times ahead or not, you won’t go far wrong with either strategy. In fact, it’s a good practice approach, whatever the economy is doing so if you haven’t firmed up your business development strategy for this year, then make these two pillars central to your approach.
