Agencies finding new tools to prospect new business in harder Economic Times.

A new survey executed by RSW/US and Second Wind reveals about 65 percent of marketing firms and agencies surveyed are experiencing much harder conditions for obtaining new business this year than in years past.

The survey dove deeper into the reasons why new business may be taking a blow this year and many cited that there were “fewer opportunities” or that it was “harder to break through to prospects”, signaling a need to make the net bigger and the outreach more consistent.

“I found it interesting that another rising source of new business is ‘presentations and speaking engagements’,” RSW/US President/Owner Mark Sneider said. “This is a tip to agency owners that they should actively use these types of venues to connect with prospects – and use them to elevate their perception of expertise in their space.”

Another new business outlet that Sneider notes is on the rise is social media. About 58 percent of agencies surveyed used LinkedIn for new business prospecting, far and above any other social media outlet. However, only about half of the agencies noted that they have social media tools set up for their own businesses and those who have them do not update them frequently. About 49 percent of agencies surveyed never used social media to prospect for new business.

“Failure to regularly utilize social media to generate new leads and failure to ‘activate’ social media by pushing it out to prospects is one thing we expect will change over the next few years, as agencies gain a better understanding of how social media can best be used to win new business,” said Sneider.