Is It Time for a Change? When to Rethink Your Relationship with Your New Business Agency
by The Hand
We all know how challenging it can be to constantly juggle client work while also trying to grow your agency. That’s why so many agencies rely on external new business support to help keep their pipeline full. But what happens when the magic starts to fade? How do you know when it’s time to make a change?
Here’s what to look out for:
- Leads are drying up
Remember when your inbox used to ping with new opportunities, and your calendar was booked solid with pitches? If those days feel like a distant memory, it might be time to reevaluate. A good new business agency should be consistently delivering high-quality leads. If that’s not happening, it’s worth asking why.
- Your vision isn’t aligned
As your agency evolves, your goals and target audience might shift. If your new business agency hasn’t kept up with these changes, you could be missing out on the right kind of opportunities. It’s crucial that they understand and share your vision for the future and they understand how they should be representing you and pitching the agency. If you suspect they’re adopting a ‘one-size fits all’ approach to their clients, then it’s hard to be confident that they’re showcasing your agency in the way that you want them to.
- Lack of industry insight
The creative industry moves fast, and so should your business development strategies. If your current partner isn’t up to date with industry trends or doesn’t understand your niche, it might be time to find someone who does.
- Poor communication and reporting
Transparency is key in any partnership. If you’re not getting clear, regular updates on progress or the results aren’t matching the reports, this could indicate a misalignment of goals or, worse, a lack of action. If you’re constantly chasing them for updates or if feedback is falling on deaf ears, that’s a red flag. You should feel like your new business agency is an extension of your team, not an afterthought. It shouldn’t feel like you’re doing the heavy-lifting.
- Results aren’t justifying the investment
Let’s be real: good new business expertise is a significant investment. If you’re not seeing a return on your investment, it’s time to crunch the numbers. Sometimes a fresh perspective or a new strategy is all it takes to turn things around, but you shouldn’t have to just settle for mediocrity.
- You’re feeling stuck
If your growth has plateaued, and you’re not sure what to do next, that’s a sign that something needs to change. A proactive new business agency should be bringing new ideas to the table, helping you stay ahead of the curve.
If any of these points hit a little too close to home, don’t panic. It doesn’t necessarily mean you need to cut ties immediately, but it might be time for an open, honest conversation. Reevaluate your needs, set clear expectations, and don’t be afraid to explore new options if things don’t improve.
Remember, your agency deserves a partner that’s as passionate about your success as you are. So, if you’re not getting that vibe anymore, it might just be time to make a change.