Search results matching tag 'new business'

Time for the brand identity business to re-evaluate

2605259 — Wed, 10 Jun 2009 15:51:00 GMT

Declining income, conflicted managers and demoralised staff. If you’re in the brand identity business, it may be time to re-evaluate your business development strategy.

Recently, whilst out-and-about in the branding community, conducting what I now refer to as the rounds, I have noticed a worrying vacuum or, in the wider context of things, an opportunity well worth exploiting.

It is undeniably tough out there – clearly illustrated by frugal cost-cutting, unpaid leave, head-count freezing and many other cautious, overhead reducing activities. However, I am amazed at how so many senior managers are undervaluing the importance and holistic benefits of a clear marketing and business development strategy.

On mass, agencies already on the verge of collapse have started advertising vacancies for generic new business positions. Their posts command applications from candidates who can guarantee a rolodex of clients and qualified leads. In return they offer little more than the most basic salary, an unclear future and very little, if any, security. They too often rely on badly managed and out-of-date contact lists and assign the task of cold-calling to reluctant if not actually telephobic staff, or outsource it to apathetic third-party telephonists.

How then can consultancies expect to grow, during a time when salaries are cut, morale is at an all time low and unpaid leave is encouraged? The answer, I suggest: Agency leaders themselves need to start thinking outside of the box.

Senior partners and managing directors: Regardless of the current economic situation, if the process of business development is not introduced and encouraged throughout the structure of your business, and its importance promoted through every role featured on your organogram, you really will only have yourselves to blame when you are forced to reduce overheads further. Accountability cannot be outsourced.

Developing new business is itself just one component, one step within a wider business development model – a model that includes effective account management, dedicated client service and creative direction. Business development should sit at the core of every business function, and for it to be implemented successfully, the firm’s leaders need to recognise and promote its importance from the outset.

It can help, too, to go back to grassroots, find out what is it that motivates both account managers and creatives, and take time to define the opportunities that your strategists and planners are dreaming of. Surely, the thrill of working on an exciting brief, or pitching to win a new piece of business is a good starting point. By encouraging and endorsing ‘new’ business development in this way you will unlock potential – be it personal ambition and a chance to shine, newly revealed relationships, other previously hidden assets or a surprisingly innovative solution.

Developing new business should not be a lonely, sit-in-the-corner-and-pick-up-the-phone job. In much the same way that as consultants we help clients to positively penetrate the hearts and minds of their employees, agency leaders should encourage, promote and incentivise in-house the function of identifying and nurturing relationships.

Whether you employ a senior professional, or choose to take it upon yourself, you should treat business development as a well-oiled and well-maintained management tool. Business development should sit comfortably within every employee’s remit – especially in those of your most senior team. Remember, people buy people!

Rewarding small to medium sized businesses

2517951 — Fri, 27 Mar 2009 16:09:00 GMT

The British Bankers’ Association reported that the amount banks lending to small businesses rose by 239 million in January, proving that small businesses can still emerge and grow despite the current economic climate. In some instances small and medium sized companies are actually better equipped to deal with harsher times as they can be more streamlined, determined and focused on consumers needs. But are there things that small businesses can do to optimise these advantages and boost consumer confidence?

Commenting on this data, BBA statistics director, David Dooks, said: “There have been net rises in term lending to small businesses each month since last autumn, albeit at levels below last year's monthly average, reflecting subdued business investment in the economic downturn. At the end of last year, the outstanding level of term lending was some 9 per cent higher than a year earlier. The many small businesses that don't borrow are drawing on cash reserves to fund current cash-flow needs, such as January's tax payments. Despite the recession, people are still embarking on new business ventures, as shown by the number of new start-up relationships in early 2009 being in line with last years average."

There’s always room for small to medium sized businesses to flourish in the current economic climate because of the unique relationships they can foster with their customers. It is so important to get the small details right and build mutually respectful relationships with consumers, as it’s far easier to adapt to individual needs and build brand trust and consumer confidence at a grass roots level. But businesses that rely on reputation and word of mouth can’t afford to make mistakes. So it’s particularly important during the current economic climate to give customers what they need and make sure that their recommendations become an effective form of free marketing. This is something that has become increasingly important and recognised by all businesses, whatever their size.

In its latest quarterly referendum survey, members of the Forum of Private Businesses voted for restoring business confidence (65%) and restoring consumer confidence (63%) as the two issues they most want the Government to prioritise in the 2009 Budget in order to support their businesses.

For smaller businesses, finding ways to reward customers is particularly important when trying to develop and enhance consumer confidence during the current economic climate and that’s why The Rocket Marketing Group offers a number of reward programmes including The Midweek Dining Club, The Home & Garden Club, The Big Savings Club and The Entertainment Club. These are particularly good for small and medium sized businesses to be involved with, as they offer free marketing on a national scale to an ever growing customer base of 300,000 people. All our partners have to do to receive this free marketing, is offer an exclusive discount to our members. It is a way of giving customers something back for remaining loyal to the brand.

The Rocket Marketing Group’s range of reward programmes are also available to be sold to a business’ existing customer base. We currently work with clients such as JML who generate commission by selling a range of clubs to their customers. This gives JML incremental revenue and gives the customers a wider range of products and services at a reduced rate, which they associate with JML, making it more of a one stop shop for consumers’ needs.

Contact The Rocket Marketing Group whatever the size of your business, for more information or to discuss how free marketing through our reward programmes can help your business.

Re: Is it worth using LinkedIn or Xing?

2289797 — Sat, 15 Nov 2008 13:15:30 GMT

As a new business tool LinkedIn is #1; I use it daily. I've found Xing more useful for collaboration (finding freelancers or partners in different countries, for example).

I've won new business directly through both platforms, plus I'm finding that new clients will also check your profile on LinkedIn, so it's a great place to have a presence and links to your website, portfolio, etc.

Hope that helps,

David Regler
New Business Agency

Time for new pitching models?

1321426 — Fri, 13 Jun 2008 08:21:00 GMT

I have talked about this quite a bit in the recent months. The need for new revenue models with our clients is vital to our success, most especially in digital work due to the layers of work required and different aspects of the process that we can charge for e.g. strategy, planning/buying, ad serving, tracking, creative, project management etc…

Traditionally in big local and global pitches, the client has been more prominently interested in prices that the agency can deliver. While the client will highlight the major importance of creativity and in more recent days, being "digitally lead", more often thatn not they select the large global agency that offers the best price cuts in buying media - also applicable here are resources within the agency, ability to deliver on time etc...! Price is off-course most applicable, when the client is focusing on traditional medias such as Television & Print.

The pitching process I believe though is shifting in favor, in some cases, towards the more dynamic creative agencies that are truly lead by innovative ideas. I am not only talking about digital though, innovation comes from any media including for example digital, interactive outdoor & television. The creative pitch is starting to shift towards innovation and, the ideas are focusing on completely integrated concepts that have a clear defined path for the brand outlining the effects of the different revenue models and why they are there. It is not so vital to display TV 2.2% & Digital 7% for example... this is already a bit old really isn't it? Well off-course, maybe it depends on the client - but what about the shift towards behavioral buying, performance based models centered around leads & ROI... We could go into a whole discussion about different revenue models but then perhaps we'd be giving our secrets away eh?

Here in Helsinki, a few global accounts have gone from the big global agencies to newer style startups with far more innovative ideas - ideas that don't evolve purely around the masses, but rather creative ideas that are creatively modeled and in turn, new revenue models arise & the agencies make good on their return. Big agencies simply charge for their buying fee & maybe "consultancy" for strategies etc... - Common guys... get with the times and get more creative!