One of the performance objectives of an agency is achieving growth and new business targets – or more accurately, over-achieving them.
So is new business an art or science?
I know that management board and investors demand reliable, consistent and predictable new business – without left-field hits or surprises, and look to have the team in place that is fully in control of delivering against targets month in and month out.
The best Agency New Business Development Directors I know each have created the process that provides the framework and structure to deliver this fundamental performance objective – continual growth. And this structure, whilst having unique operational aspects to the business, is built on common elements: clarity and visibility of inputs, actions and outputs.
So, new business is both and art and a science.
The new business science element is new business planning – creating and implementing appropriate processes and controls with metrics, variables and ratios for successful growth.
The new business art element is interpersonal skills and understanding required to drive the process. These are influencing skills, planning skills, problem-solving skills and creative/lingual skills.
New Business works when the design, implementation and control of new business plans, new business budgets, advertising media and PR/ePr plans, internal comms, account planning are in place, bringing together this art and science.
Make sure everyone in the agency team understands this and tat the momentum is maintained across the business, month in and month out.
Rod Geoghegan works with Marketing Services Agencies, Tech Start-ups and Professional Services Firms to plan and deliver growth.
He is Founding Partner at Metropolis Partners