In the agency business, there’s a lot of truth to the saying “the inventory goes down the elevator every night.” (This quote is most often linked to legendary ad man Fairfax Cone.). This could be applied to your ad agency new business prospecting efforts.
Which is why this recent Fast Company article got my attention. It explores Maslow’s Hierarchy of Needs and a company’s human resources function. The story articulates different levels of staff happiness. It’s a pretty smart article that can give you a thought or two on how to retain staff and create happier employees at your agency. There are, of course, several ad agency new business prospecting implications. Here are just two:
People are the core of any agency new business prospecting plan
As we all know, there are many tactics out there used to drum up new business meetings with prospects. What many current plans lack , though, is an emphasis on increasing referrals and deepening relationships with people outside your agency.
One of the things that struck me about the Fast Company article is that smarter companies understand their people are human beings. They have lives outside work. Things that are, actually, a whole lot more important than working (gasp!). While you can look at the article through an HR lens, I wonder if there isn’t value to looking at the article through a prospecting lens.
New business prospecting is not just one person’s job
This should be a head nod for you. But when you think about how your agency can eventually become a self-actualized one, creating – “an intense and magical chemistry that blurs the lines between home and work” – understand the very real benefits and implications of this thought. Implication: involve the entire agency in the prospecting effort. Benefit: more pitches. Typically, pitches that come in over the transom as a result of referrals and marketplace changes.
Again, these are just thought-starters. Check out the story, as well as another one from Fast Company on brand loyalty. It’s written by the same guy, Chuck Runyon. He’s the CEO of Anytime Fitness and knows a thing or two about energizing people – both staffers and customers.
Happy thinking.
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Some related posts:
How to use happy clients in your new business efforts
The HR function and your new business efforts
Improve new business development with a brag file
New business consigliere Steve Congdon owns Thunderclap Consulting Group, a boutique that helps agencies grow through smart, relevant new business prospecting and closing activities. 