Part 2 in the series “Pitching To Win…Without Pitching”
In today’s free-wheeling, market-driven economy, category dominance is often won simply by being first to the party. Depending on the complexity of a new product or service, capital requirements, intellectual property, patents or talent needs, that’s easier said than done. It’s one thing to start out at the top of the heap. It’s quite another to stay there. But since we’re focusing on new business in this post we’ll shift to the phase where companies often look outside their companies for category marketing expertise to grow and prosper.
Enter integrated marketing, design or digital agency.
When pursuing new business in a burgeoning industry, I’ve discovered this “first-to-the-party” scenario is also hugely important for ad agencies chasing those companies to secure contract marketing work. In the many situations where I’ve been hired to bring in new clients for ad agencies—whether on contract as Director of Business Development or as full-time VP of Sales—I utilize a simple, uncomplicated sales process that’s served agencies well when pursuing new business to drive revenue.
As a refresher from last week’s Introduction on Winning The Pitch Without Pitching, here’s my de facto sales process that has served me well—in one form or another—for over two decades.
Approach > Qualification > Agreement of Need > Sell the Company > Act of Commitment > Fill the Need > Cement the Sales
As I mentioned last week, in my experience as the “tip of the spear” biz dev guy at six different agencies, no other phase in the sales process is more important—that separates the men form the boys—than the Approach phase. Why? Because nothing happens in business development without this first step. It requires fierce tenacity, grit, courage, creativity and a tad of insanity. And it’s where I have often left my friendly competitors in the dust.
The insanity part is well documented by any and every biz dev guy or girl in any business. To be successful you must first and foremost be willing to throw a ton of stuff against the wall to see what sticks. That’s what we call the dreaded term “cold-calling.” To get a new account, you must often chase 100 prospects, at least for a time. But does the definition “Doing the same thing over and over expecting a different result” apply to business development work? In my experience, “Heck yeah!” Is it often the right approach to the new business process? Yes it it.
In my next several posts I’m going to give you three super-fun examples of the cagey strategies I took during the approach stage that won my agency teams over $10,000,000 in agency fees–DirecTV, The 2010 Winter Olympics and Mercy Ships.
The first one, DirecTV, earned me a quick and tidy $50,000 commission check.