Your agency is at least 5 times more likely to win new business from your existing clients than new clients. And yet, most agencies fail to approach this significant area of potential growth with the same rigour and vigour as a new client opportunity. Moreover, it’s not a choice – given the first 6-12 months of any new client revenue will be offset against the cost of winning it, you will only achieve profitable growth if you can successfully grow your new business wins into established, long-term, growing clients.
For those in client-facing roles who harbor ambitions to one day lead an agency, the ability to grow one is a mandatory proof-point on your CV. As the start point on the growth trajectory i.e. planning for growth, it’s important to recognize that growing clients requires something more than a wish and a prayer. It requires a plan.
Creating the plan means first selecting those clients that are both grow-able and aligned to your agency’s business strategy, then identifying and developing the specific growth opportunity. The first stage is to detail the what, why, how and how much. The second considers a range of factors that could influence the outcome, focusing on how to swing the probability of success in the agency’s favour – within a timeframe and with concrete next steps. Successfully growing clients relies on a process and repertoire of skills, including knowing when and where to look for opportunities and how to ask, deploying strategies for increasing your network of valuable client contacts, and mastering high gain questioning techniques. Perhaps most important is the ability to identify the client’s as yet unidentified needs (for your agency’s products and services). This means adopting a sales mindset and taking an assertive role. It means leading rather than managing clients, thinking rather doing for them.
Delegates will learn:
What’s the point?
Why winning business from existing clients is so important and the path to profitable growth.
What is it like out there now? What are we up against?
Planning for growth
Why you are 5x more likely to win new business from existing clients.
Setting targets, the strategic value contribution of clients.
How to identify growable clients, knowing where to look and when to ask.
Spotting opportunities, client research and client mapping.
What are the high gain questions?
Prioritising your client network and tapping into your marketing department.
Within the day are two exercises, so delegates can put what they learn into practice.
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