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Mr. Thomas Finneran

The Best of…Top 10 Biz Dev Concepts

The 4A’s has had the good fortune of having a host of industry experts share business development suggestions with our members over the years, and Management Services has picked out 10 particular quotes that I would like to highlight:
10) “Good ideas are getting funded—especially if they deliver data.” (Brian Martin, Source Martin)
9) “4A’s Agency Search is the go-to industry source for all things new business. Agency Search provides agency and new business information to over 50,000 visitors each year. If your agency does not have an up to date, comprehensive profile on Agency Search shame on you.” (Millward Brown and the 4A’s)
8) “You may not be able to win a pitch during the Q&A portion of a new business presentation, but you can lose the pitch if you don’t thoughtfully prepare how to answer—and who should answer—the prospect’s questions.” (Mark Schnurman, Filament Consulting)
7) “When interacting with procurement focus on long term gains. Play to win-win. The agency should initiate a dialogue on value before talking about money and provide alternatives on major sticking points.” (J Francisco Escobar, JFE International)
6) “Preserve ownership of agency new business search ideas, plans and work product.” (David Lubbars, BBDO, Candice Kersh, FKKS, and Nancy Hill, 4A’s)
5) “Agencies should ask clients/prospects three sets of value-oriented questions early on:
  1. How do you expect the agency to add value to your business, and how will you measure that value?
  2. Is there something specific to your marketing efforts where the agency is expected to add value, and how will you measure the marketing value?
  3. How can an agency add value to day-to-day relations, and how do you measure this component of value? (Dave Beals, Jones Lundin Beals)
4) “Successful client-agency relationships include shared vision and values, evergreen communication, and trust. It’s never too late to make repairs in a relationship.” (Lorraine Stewart Rojek, Rojek Consulting Group)
3) “The ultimate mechanism for agencies to regain control over business growth, pricing and margins is by independently developing and monetizing agency-owned and controlled IP. Pitch more selectively and pitch more efficiently; target a 20%-30% expense reduction and invest part of the savings in developing agency owned and controlled IP. (Tom Finneran, 4A’s)
2) “Clients are seeking change. They want balance between big-idea innovation and accountability. They expect channel-neutral communications with digital at the core.” (Catherine Bension, Select Resources International)
1) “Turn new business efforts upside down. Avoid account losses and organically drive current client growth by loving your current clients the way clients want to be loved. Learn to sell. That doesn’t mean giving theatrical presentations—ask the right questions and develop solutions to a client’s business problem.” (Steve Boehler, Mercer Island Group)

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What a rich & topical industry we have!

Great set of quotes - so hard to choose one as most compelling because they highlight both how fascinating and rich the industry is in storylines and how much opportunity we face.

I think the inherent optimism of many of these thoughts is comforting: it's an ugly time economically and budgets are being hammered - but we still own our own potential. The winners will not stand pat but will tackle these challenges like they are startups and they need to pay the bills.

Cheers to everyone rising to the challenge in 2009.
Posted by Mr. Stephen Boehler (Friday, January 09, 2009 10:40 AM)

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