5 Ways to Add Value in Agency Business Development

What does being in Business Development at an agency encompass? How do you measure success and how can this role provide value to companies far before they ever become clients?

These are just a few of the questions that I’ve asked myself in the six years I’ve been dedicated to a career in agency business development. During this time, I’ve learned a lot about what it takes to create something from nothing, how to turn a question into a conversation and how to get to the root of the “problem” before approaching potential solutions.

According to Noreen O’Leary of AdWeek,

"The new-business game has become harder for even the best playing it."

While tackling the ever evolving requirements of the role, I’ve learned many lessons. The best lessons have resulted from making mistakes and then learning from them. As a result, I’ve learned that adding value in business development helps to create long lasting, meaningful relationships. Here are five things I keep in mind in my interactions day to day:

1. Ask Good Questions

No one likes to be interrogated; however, people do like being asked thoughtful questions. The only way you will truly understand the needs of a prospect and identify potential solutions is to ask strategic questions that encourage the prospect to think deeply about what they're looking to accomplish.

2. Listen for What People Don't Say

Getting the answers to your list of questions isn’t enough. Sometimes, what they don’t say can tell you a lot about challenges the potential client is facing. For example, if the prospect doesn’t mention anything about executive sponsorship, budget or overarching business objectives, you will have an idea of the relative importance of the initiative and how likely it is to be supported with budget and internal backing.

3. Be Genuinely Interested in Problem Solving

An amazing sales coach I used to work with had a saying (among many others) that stuck with me, and it was, “Don't have commission breath." Humans are very receptive creatures! People can tell when you're not truly interested in their needs, and instead you’re more interested in the dollar signs above their head. Your primary focus and aim should always be begin the process of problem solving. This process (hopefully) after they become clients will continue as your relationship grows and develops. The dollars come when you’ve aligned business challenge with potential solution, then estimated the resources necessary to execute. Remember: agencies exist to serve their clients.  

4. Have a Solid Referral Network

As the marketing landscape continues to evolve, so must agencies. The agency ecosystem is varied and diverse and is becoming more specialized as marketing becomes more complex. If you’ve ever worked in business development, it’s highly likely that you’ve been faced with the question: “Are we the best fit for what this client’s needs?” If the answer is “no,” it’s highly beneficial to you, the potential client, and your agency partners that you have a strong referral network. So, in the event your firm isn’t the best choice, there’s a good chance you know a firm that is. Plus, what goes around comes around. Everyone likes a bit of good karma.

5. Think Long Term

In agency business development, we’re not selling widgets, we’re selling long term relationships. If it's not a fit right now, that’s ok. The emphasis and focus should always be on how does the project or service at hand support longer term business objectives. Both on the client side and agency side.

Business development can be an extremely valuable step in a new client relationship, and it’s my commitment that I’m adding as much value as possible. Setting my agency up for long term client success and ensuring the potential client has all of the information at their disposal that will be necessary to make a well-informed purchase decision.

Whether you’re in account services, creative, development, project management or otherwise, you can add value every step of the clients journey.

How are you adding value at your agency? Have any tips to add to my list? I’d love to hear from you.

Be Great!

Betsy