1. Make your prime focus profit, not turnover
Yes, it’s nice to see lots of money flowing through the business, but if you aren’t making a good margin you are still working for free! Why not take some time and look at how you can reduce your costs, focus on higher value clients and don’t be scared to where applicable think about increasing your hourly/daily rates.

2. Set goals
Goal setting is how you can map out the next year of your life, imagine where you and your business would like to be at the beginning of 2012 and bullet point the steps which will help you get you to that point.

3. Work smarter
Your business takes up the majority of your time; however most business owners complain that they would like to spend more time with their families or pursuing personal interests. You can achieve the same amount in less time by working smarter and planning better. Take control of your business, rather than your business controlling you.

4. Explore the Internet…. all of it
It is easy to be distracted when browsing online but this is not always a bad thing, search and click through associated links (particularly discussion forums on LinkedIn) in order to stumble upon interesting blogs and articles which may develop your thinking and feed your business strategy.

5. Learn more
Developing upon expanding your digital ecosystem in resolution 5, take the time to read thought provoking articles in areas which you do not feel competent in, none of us are created as experts in every field – so take the opportunity to expand your horizons and learn.

6. Focus on work that generates income
I appreciate the irony of making this point as I write this blog, however our day-to-day business lives can be taken over by non-income generating aspects of our business within your cost of sale. Work hard to monetise every aspect of your production cycle or service delivery, show your clients the value you add and they will pay for it. If it cannot be monetised, minimise it!

7. Customer service is king
Every good business has busy spells, manic Mondays and tight deadlines. Don’t allow your clients to suffer as a result of internal pressures in your business – if they do at least you will be under less pressure, because the clients will not come back.

8. Don’t be scared to delegate
If you write down everything you do on a weekly basis, ask yourself the question, did I really need to do all of that? Or could someone else have done it? Delegate or dump your low value activities and focus on those critical to the business operation and revenue generation.

9. Ask for referrals
I have saved this for last as it is by far the quickest and most successful method of growing your business in the current economic conditions – and nobody does it. The average person trusts a referral or recommendation significantly more than any advertising or promotional activities you engage in.

Wishing you all a happy and prosperous 2011.

There is lots of advice out there on how to effectively communicate with journalists, how to write that ‘killer press release’ and how to meet press deadlines. However, one of the golden rules that is often over-looked is just simple plain old preparation.

What is PR?
If you have something newsworthy and it is communicated to the relevant journalists in the correct manner, then it will be published.

The trick to PR is to make sure that when you launch your new piece of client work or service, you are in a position to take advantage of all the opportunities that might come your way from the trade & marketing press.

What you will often find on a Google search are articles by experienced PR professionals giving out advice on ‘how to do PR’. They often give formulas on how to write press releases, what to do with them, how often and when to call a journalist. The advice that these articles give is often correct, but what these articles can’t give you is actual experience in implementation of these methods.

It’s the experience of implementation that separates those who get exceptional coverage in the press and those that don’t.

The following rules don’t tell you how to become a PR Guru overnight, or give you the winning formula to write a killer press releases, however it will prepare you for that call at 5.30 on a Friday night when a journalist calls and says; “Hi, I know its last minute but do you have an image to go with this press release you sent me, and do you think you might be able to answer a few further questions?”.

So here are the golden PR campaign preparation rules:

The release itself
A well-written release will tell the story at a glance – making the journalist’s life easier and making it more likely they will cover your issue, so you need it to stand out from the crowd:
• Make it newsworthy, news has to be NEW
• Make a headline in caps not more than 4-5 words in length
• Know your media find out what type of stories your key media cover
• Find out about forthcoming features and copy schedules to inform when you release your stories to co-incide with relevant coverage
• Keep it short all on one page is preferable (4 or 5 paragraphs)
• Send your release in the body of the email not as an attachment
• Follow it up check that the journalist has all the information they need
• Call at a convenient time not close to deadlines
• If they’re not interested, ask why?
• Don’t be downhearted if yours isn’t covered, keep trying
• Try not to be too clever, remember that ‘journalist’s do the adjectives!’

Photography
Prepare your library of relevant images, including spokesperson shots, product shots, screenshots and anything else that might by relevant. The more pictures the better, there is nothing worse than seeing a news article in many different publications and they all use the same picture (although this may have its advantages too).

Ensure the images that you have prepared are of high quality, approx over 300 dpi and invest in pack shots of your work if you can.

The elevator pitch
Make sure your spokesperson has a couple of quotes in preparation for a journalist interview; provide him/her with a briefing sheet.

Journalists will often call and follow up some news with a further quote, make sure that you have something prepared so that the journalist can call you and get something of further value from a conversation with your spokesperson, this will encourage the journalist to call back for comment in the future.

Also, if you are making an announcement in conjunction with your client, make sure you brief the other spokesperson or PR agency to ensure that your messages and quotes all tell the same story.

Company profile
If you are launching a new company for one of your clients or adding to an existing product range, make sure you can provide a journalist with some company background on both agency and client.

Another golden rule of PR is not to assume a journalist’s knowledge, remember they deal with hundreds of different companies everyday and many of them have similar products so it would be understandable if they occasionally got it wrong.

One good PR technique is to always reiterate your company services and products when appropriate each time you meet or talk to a journalist. Remember, your company is growing and changing all the time; each time you meet a journalist your company will have changed.

The press pack
Journalists often like to receive background information when writing a story or preparing for an interview.

The best medium for providing this information is a traditional press pack, to provide information on corporate background, images, biographies of senior people in the agency, current press releases, product/service datasheets, cases studies and/or company brochure.

Obviously this information changes depending on which sector you are targeting and the spin you want to put on the story, but the basics always need to be there so a journalist can easily find what is required in the manner they are accustomed.

These are the basics when it comes to a press relations campaign preparation, but there is of course much more. Ideally to have an experienced PR person, with skills and contacts in your industry when looking to launch a new service or product would be the most effective way of generating great PR. When it comes to announcing your products and services to the media, perception is everything, which is why preparation is ultimately so important.

Ends here

There are 75 million registered users on Linkedin and this spans 200 countries (according to Wikipedia) and it is widely reported to be the best if not the only professional B2B networking platform. It is such a valuable resource from many different perspectives of getting to know your targets and their world before you have actually physically met, their history and whom they know.

• To attract contacts it’s worth keeping your professional profile up to date including background, previous roles and experiences, recommendations (both ways) and join as many relevant groups as possible.

• Start reading the posts from the news digest on a daily basis and respond initially until you build enough confidence to post a discussion thread about something relevant to you and your industry in order to potentially catch the eye of your targets.

• Remember it’s as much about pushing content out there as it is gathering contacts, the more relevant content you put out there on your blog the better the chances that you will appear when people search for talent.

• You may be approached by headhunters as recruiters use Linkedin all the time, but at least you know that your profile is being listed in search results, always examine these results can be very interesting.

• Create a profile for your company and link to this from your email signature and in time you will attract followers, again if you have followers you should give them something in return - news, content etc

• Use Linkedin to find potential partners and approach people through the groups you join as cold approaches never work and cold selling is frowned upon. Don’t post comments such as ‘really hoping to win a new client in the next few weeks as have bills to pay’ etc…

• Follow companies as well as people as will indicate when there have been new hires.

• If you really want to get hold of someone and can’t do it via a group ask one of your connections to introduce you to a potential target, they usually will do so if you offer to return the favour.

• Use Slideshare on your profile page and direct people there so that they can share it online.

According to my profile of 179 connections the number of potential total users available to me is 1,618,400. And that’s a lot of people! Good luck and any questions just ask or connect with me on Linkedin: http://uk.linkedin.com/in/thehandltd

There are not many amongst us who relish the challenge of getting all dressed up for a night out at a singles bar hoping to find a soul mate, only to return home blaming the organisers, the venue, the aftershave, the music and the new suit for the lack of any suitable partners.

But this is exactly the same situation you put yourself into when looking for new business. If you jump into unfamiliar territory and try constantly to introduce yourself to complete strangers the process will be painful and unfulfilling.

Think about how you met your partner, wife or husband? It was probably through a friend and you went out with a group of friends to somewhere fun, you had a reason to be there and shared an interest. After a couple of dates, you realised that you has something in common and enjoyed each other’s company and the rest … as they say is history.

Now apply this to your business development strategy and you will quickly realise the benefits of targeting and segmenting your prospective clients into groups to whom you must convey the same message “I’d like to know more about you” in a number of different ways.

Remember once you have started that initial introduction, you must stay in touch, keep reminding them of the services you offer, make news relevant to their interests and get personal. Make it enjoyable and your prospective clients will want to know more about you as now you have their permission to actively ‘market’ yourselves to them.

Five simple steps to developing a long-term relationship:

1. offer an incentive to prospective clients – give them something of unique value
2. as you now have their attention, use it to keep them up to date with your news (but keep it relevant)
3. ensure you keep the momentum going and listen to your prospective clients needs
4. really get to know the individual and turn strangers into friends
5. over time use the knowledge gathered to change their perception of you into becoming their best friend

Try it, you have nothing to lose and if you examine your best client relationships you will almost certainly identify with the above.

We recently attended an industry event billed as revealing the secrets as to why design businesses fail to sell themselves effectively.

Whilst our work across a number of different businesses and disciplines gives us a broad understanding of the various new business issues, pressures and market conditions that agencies face it’s always interesting to hear another point of view (and of course the promise of a magic new business secret!)

The main thrust of the presentation turned out not to be new business at all, but business development.

Various statistics were presented about the likelihood of your ideas and proposals being accepted by existing clients versus lapsed clients and new prospects, ostensibly showing that it’s better to focus your efforts on the existing clients.

Now don’t get me wrong, one of the easiest and best ways to strengthen your business is to treat existing clients well; primarily by doing an excellent job for them, and to try to grow the amount of work you get from your client. Unless you get out there and approach new prospects, you’re going to limit the possibilities for yourself from the outset. There will always be a natural attrition rate as economics, politics and clients change (the last I heard, the average tenure of a marketing manager was about 17 months) and relying on a client being with you year-in-year-out to deliver growth is foolhardy.

Part of what drives new business is reputation – as we all know, word of mouth is incredibly powerful. Apart from the obvious of delivering excellent work that gets talked about, if you’re not also out there speaking to prospects and promoting your own work, it’s very hard for new clients to know about you.

It’s no secret that new business is frequently frowned upon as either a bit grubby (that dirty word, ’sales’) or as a job that agency people just don’t want to do. I absolutely see the appeal of seeking growth from existing business rather than chasing new. But the hard fact of the matter is that if you’re not out there at the coal face seeking new business, it will come back to bite you at some point, probably when a major client suddenly puts their work elsewhere and you realize that you have nothing in the pipeline to replace it.

In an economic downturn, many agencies jump at the opportunity to submit a proposal to a potential client. It’s a chance to book some new business, and besides, who can resist the adrenaline rush that usually goes along with the prospect of an impending new client win?

Proposals, however, can be huge time wasters. The problem is that some clients who are not serious buyers will ask for a written proposal, while others may prematurely ask for a proposal before the proper steps have been worked through and the right relationships established. Furthermore, your willingness to write a proposal too quickly will actually position you as a ‘supplier’ rather than a strategic, in-demand consultant who is discerning about the work you will take on. You need to cover all the right areas during the business development process to ensure a successful sale and a fruitful relationship.

Here are 8 prerequisites for submitting a proposal to a new or existing client:

1. You are certain this is the right client and issue for you and your agency. 

Is this the right sort of client—in terms of size, complexity, location, or potential to create a conflict of interest with other clients—given your strategy? Is the client with whom you will work an effective, respected individual in his or her organisation? Do you need this new sector experience to break into new territories?

2. You have a thorough understanding of the issues you are being asked to solve and a sense of the business goals or needs which are influencing them. This could happen in one conversation, but more likely will only unfold over two or three discussions. 


3. You and the client have agreed on the specific objectives of the work—on the outcomes that are sought. 


4. You understand the client’s buying process. Usually, you will have to ask about this. It is completely appropriate to ask questions such as:

 “Can you talk me through your decision-making process?”

 or “Who will approve the budget for this work?”

 or “Who makes the final decision about selecting an agency to work with?”

 or “Can you share with me your decision-making timetable?”

 or “May I ask what other agencies you are talking to?”


5. You have spoken to or met with the budget holder. This person can make the decision to appoint you. This could be a brand manager or the CEO. Often, the first person that calls you is not the budget holder. He or she is a user-buyer (someone who is screening agencies, who can say “No” but not “Yes”) or a client executive who would work with you on the engagement but cannot make the decision to hire someone. 

The worst mistakes made during the sales process are often around the identity and role of the budget holder. Sometimes, people think they know who the budget holder is when they actually do not, and on other occasions they just don’t focus in on this critical buying influence, and end up wasting huge amounts of time writing a proposal that never gets a true hearing. 


6. You understand what is most important to the client—in other words, what particular value they are seeking. 

 For example: Is speed critical? How important is cost? Do they want a bespoke solution? What about quality—do they need a strong project management team? Is this a one-off project or is the client looking for a longer-term relationship? Which aspect of your proposed approach does the client most value?


7. You have discussed the essential elements of your proposal with the client. Before you submit a written proposal, you must, as author Alan Weiss puts it, achieve “conceptual agreement” about what’s going to be in it. You might say, “Before I send you this proposal, I’d like to meet with you to talk through our basic approach with you. That way I can get your reactions and input before finalising it.”


8. You have an agreement to discuss the proposal with the client after you submit it. “I’m sending the proposal over later today. If it fits into your diary, I’d like to set up a meeting later this week so we can discuss it. “

You don’t want to spend a lot of time writing a proposal, and then send it into a black hole. Schedule a phone call or face-to-face meeting to put the client on the hook to read the proposal and share his or her reactions with you.

I’m sure we can all still remember waiting, as the weeks rolled by, to hear from a prospective client about a proposal we had given them, only to be told that the boss of that person’s boss—whom we’ve never met—had vetoed it.
Just because business is scarce doesn’t mean you should jump at every opportunity to write a proposal. On the contrary, you should focus on those opportunities that make the most sense for you and then double-down on them. This means investing to understand your client’s business and key issues, treating them as if they are already a client, and adding significant value during the selling process.

“Give me a good idea of what your company can do for me in 15 minutes. Any more than that and you are wasting my time” – A design buyer

One point that repeatedly enters into any new business conversation, proposal or pitch is ‘value added’ so we have devised five tips to communicate true value to your clients:

1. start with needs – why do clients want to buy design? It is not because they WANT services such as branding or websites. It is because they NEED to keep their shareholders happy; they need to recruit intelligent graduates who will ultimately increase sales; they NEED to relax knowing that their website is being taken care of.

Think in terms of what client needs you can fill, not what services you can offer. Prospective clients may not always understand what your services are exactly, but they certainly will understand how relieving their stress or reaching their desired goal will help.

2. ask your clients – ask them why they decided to appoint you in the first place. Find out what distinguished you from the competition in their minds and what effect have you had on their business?

Listen out for core phrases that are repeated across your client base. By understanding what your clients already respect about your level of service or creativity, you will discover the real value you give them.

3. don’t use marketing speak – avoid speaking an industry language that clients don’t understand. Use words your clients use, find phrases and needs that resonate with them. Instead of ‘we work with our clients to help them achieve high performance’, try we help our clients increase customer satisfaction which in turn leads to higher loyalty rates and profits.’

4. create your value proposition – incorporate the best points from the above into a value proposition or USP, a statement about your agency and test it out on your colleagues and friends. Ask for feedback and fine-tune it until it becomes natural to describe your agency in this way.

5. Test your value – now test this with your prospective clients, either at networking events or during the next new business phone call and see what piques a prospect’s interest. It will be more rewarding than you think and don’t be afraid of changing it to suit differing clients needs.

By putting tangible value that speaks to your clients in their language in your value proposition, you will definitely stand out from the crowd.

Was very impressed by the speakers at today’s conference, a mix of advertising, digital, branding and ideas-led agencies presented their thoughts on modern agency models to suit changing client needs. I will post all the transcripts here - so watch this space.

The Hand attends New Agency Models conference on 18/9, read all about the highlights of what Sir Martin Sorrell thinks about the future of the creative industry. The conference aims to focus on strong business growth, achieving maximum success by challenging traditional frameworks and collaborating with clients in innovative ways.

We will make the highlights available here on 22/9, so that all agencies can benefit from these insights.

Visit the New Agency Models conference website

View Overview PDF