If you think it’s harder to obtain business in 2022 compared to 2021, you’re not alone. According to a report by RSW/US, 43% of marketing agencies say that obtaining new business is either harder or much harder than last year. That’s up from the 28% of agencies who said the same thing in 2021. Why is that? Only 32% of agencies say that “the number of opportunities for new business has increased.” If you want to obtain more clients going forward, you need to rethink your new business strategy, especially your email marketing strategy.
Ad Agencies to Adjust Email Marketing Strategy
Why Email Marketing?
What marketing tools are the most effective in generating new business? According to RSW/US, in 2022, those tools are:
- Business from existing clients
- Organic search
- Inbound marketing programs
What do most of those tools have in common? Email. To get referrals, continue business with existing clients and network by utilizing email outreach. And email marketing can be used to promote inbound marketing assets. So, it just makes sense to rework your email marketing strategy to include these elements.
Make Sure You’re Going After the Right Prospects
According to RSW/US, 63% of agencies say that the dollar volume of new business has either stayed the same or decreased. That means, “it’s more important than ever that agencies ensure that they’re going after the right prospects.”
You need to update your email marketing strategy so that recipients fall within your desired range. RSW/US recommends making sure that your email marketing recipients are the right revenue size for your goals. Of course, you shouldn’t shy away from doing business with companies that can pay you enough but targeting potential clients with the right revenue range makes it easier to acquire clients who can easily afford your valuable services.
If you’re targeting major companies (companies with more than 30 locations), you can utilize the Major Account Reports on AdMall by SalesFuel to find out more about your target prospect’s revenue and who is in charge of their advertising and marketing. For example, you can figure out how much revenue the company has brought in within the past few years and/or how much of their revenue they spend on advertising efforts. That way, you know which companies are worth your time and which advertising services you should spotlight in your pitch.
Improve Your Follow Up Strategy
RSW/US says that agencies often fall short on following up when they're trying to secure new business. Closing new business in 2022 usually takes between one and six months. That means that there is a lot of follow-up activity required after the initial meeting. However, many agencies haven’t worked this kind of follow up into their email marketing strategy. RSW/US says that, as strange as it may sound, agencies going dark on their potential clients happens too often, “because agencies give up when the process starts to get tough or takes longer than they had allotted in their head.”
So, how can you rework your email marketing strategy to make sure you don’t stop following up with prospects too soon? RSW/US recommends creating a “4–6 touch cadence template, including messaging and potential content that can be used as follow-up over a course of weeks/months to reinforce your expertise.” Having a base template will give you something to work from when crafting emails to send to each prospect.
Should You Stop at Your Email Marketing Strategy?
No. Email is an important way to earn new business but don't stop there. If you want to learn other ways to reach out to your potential clients, as well as what types of advertising you can help them improve, run a Digital Audit on their business by using AdMall by SalesFuel.
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