Ad Agencies should consider fresh approach to Business Development.

Getting new clients in the advertising and public relations agency business has become more challenging, according to the 2008 New Business Manager Survey commissioned and released by agency lead generation and sales firm Reardon Smith Whittaker. RSW finds that a majority of agencies, 51 percent, believe that it is more difficult to drum up new business, as compared to only 40% feeling the same way a year ago – citing increased competition and the slowing economy as top reasons.

Increasingly, agency leaders are searching for new approaches to make initial contact with business prospects, according to RSW managing director Mark Sneider, who says agency principals should remain focused on their area of expertise, not dabble in sales on the side. “You got into the business to be expert in communications or creative ideas, not to be expert lead generators and pipeline builders,” Sneider says. “Nearly one third of agency principals now state that they have used an outside firm to open doors and set meetings, up from 16 percent just last year. It’s a growing trend, and a smart option to consider.”

Sneider adds that key reasons why it is now harder to develop new business is “the fact that agency principals are finding that there are fewer opportunities available in the market and it’s simply proving harder to bust through to prospects.”

“A lack of new business is a stumbling block that many agency leaders have never before encountered, and they are concerned,” he explains. “Prior to the economic slowdown, many agencies relied solely on networking and referrals, something which our survey indicates to be an increasingly difficult practice.”

The survey was completed by 150 Agency Principals from across the United States during May, 2008. This study was commissioned by Reardon Smith Whittaker The sample came from a database of decision makers each from agencies ranging from $5 million to $200 million in billings.

To download results CLICK on link below:
http://www.rswus.com/surveys>