The recession may be over but that doesn’t mean ad agencies are finding it much easier to sign on new clients or maintain their existing roster. To improve their competitive position, agencies are taking a hard look at their expertise in marketing themselves. They’ve determined that 3 tools outrank all of the others when it comes to building new business.
The 2012 New Business Report from RSW/US indicates that 47.6% of agencies find prospecting for new business to be as challenging this year as it’s been in the recent past. And 34% say they are having a harder time this year. The majority, 65%, say there are just fewer opportunities to chase. When new business opportunities arise, they are likely to be digital (76.3%), social media (52.6%), or traditional (46.1%).
While agencies believe that the majority of their business comes from referrals, networking, and add-ons from existing clients, the client perspective is a little different. Clients say they most often learn about new agencies from emails (58.3%) and direct mail (49%). Clients also rank email as the preferred method of communication (76.8%) when an agency is trying to pitch to them.
Agencies may be able to wow clients with their knowledge of and competence in new media, but when it comes to signing on new business, a solid email campaign appears to be a winning strategy.[Source: 2012 New Business Report. RSWUS.com. 2012. Web. 5 Nov. 2012]