Should you be pausing new business?Oct 05, 2020
My business partner Katie and I were recently invited onto The Fuel Podcast hosted by Keith Smith to discuss whether or not creative agencies should be pausing their new business activity in a crisis and what the new normal of sales looks like.
You can have a listen here.
The upshot is, that new business has always been a long-term process, it's not something that happens overnight so pausing would have a real detrimental effect on your future pipeline. However, any outbound new business activity you do MUST be handled sensitively. Don't be seen to be opportunistic and jumping on the bandwagon.
Come from a place of offering help and support, nurture your existing contacts, call people up, have conversations, refer & connect people, and build solid future relationships. Doing a small amount of this activity every single day, will have a massive impact on your new business.
Also, spend some of this time getting your agency "match-fit" ready for when the market picks up again:
1. Review your agency positioning
2. Consider your targeting - do a deep dive into sectors and subsectors looking at their challenges and the impact of this global pandemic in the short, medium and long-term.
3. Plan out future campaigns - including content and thought leadership
4. Spend time listening. Listening and researching to find out some of the challenges your target audience and customers are facing.
5. And finally, of course, look after your existing clients. Have regular conversations with them, ask how they are and make sure they are getting the best attention from your agency.
Have a listen to the podcast as we delve into some of these areas in more detail - https://thefuelpodcast.com/episode7-cherry-business-consulting/
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