Winning New Business in Advertising ...the Critical Success Factors

Policy Publications is an independent research and publishing company which specialises in producing research reports that help managers develop world-class company performance.

Winning New Business in Advertising

...the Critical Success Factors

Focus on issues that increase new business win rate

Discover best practice among other advertising agencies

Learn new marketing strategies and techniques

 Published by Policy Publications in association with the Institute of Practitioners in Advertising and the University of Luton

A practical report that helps you adopt

best practice when winning new business

Winning New Business in Advertising...the Critical Success Factors is an essential new report that focuses on a core issue -- how do you win new business in a market that is becoming ever more competitive?

The advertising industry continues to grow... but, paradoxically, selling consultancy services is getting harder all the time in the face of more discriminating clients, a sharper focus on value-for-money results and lengthening "short lists".

Of course, there have always been plenty of theories about what makes one agency more effective than another at selling its services. Now there are hard facts.

Winning New Business in Advertising is based on the real-life experience of 100 advertising agencies... large, medium and small. Researchers collected performance data on 128 activities and issues concerned with winning new business in each of the agencies.

Using a unique computer program, they analyzed the data to discover precisely which activities and issues separate the most successful (those that win more than half their pitches for new business) from the least successful (those that win less than half their pitches). Then the research team conducted a series of interviews with agencies to gain further insights on the findings.

The result is a fascinating picture which provides a best-practice outline for winning new business. And what makes it so relevant, is that it focuses on the issues that you face every day as you respond to enquiries and pitch for new projects.

Step by step, Winning New Business in Advertising takes you through the analysis, carefully exploring each of the issues and pointing up the lessons. At every stage, you can see how the most successful compare with the least successful... and, of course, the average.

Moreover, because Winning New Business in Advertising is part of a larger research project which explores how different professional services advisers win new business, the report provides fascinating comparisons and lessons from the broader world.

Throughout, the report is written specifically with the working advertising professional in mind. It explores why agencies want to develop new business and the role different members of staff play in developing it. It shows why the most successful agencies are much better at getting business from some sources than the least successful.

It shows how the most successful agencies beat the others hands down when it comes to making themselves attractive to potential clients -- and winning new business from existing clients. And how they also perform better at proactively seeking new business through different techniques.

But that's not all. The report explores which issues agencies consider important when deciding to pitch for new work -- and which factors might make them turn down new business.

Throughout Winning New Business in Advertising scores heavily by providing practical how-to advice. It focuses on the key issues you should address as you prepare a proposal for new business.

The report takes you systematically through all the stages... preparing the proposal... making the pitch... communicating with clients... and negotiating to a successful close. Then it shows why the most successful consultancies are far better at learning from their new business pitches than the others.

Winning New Business in Advertising...the Critical Success Factors is the output of an intensive nine-month research project carried out by Policy Publications in association with the Institute of Practitioners in Advertising and the University of Luton.

Its full findings are not published anywhere else. This is a heavily action-oriented report that is essential reading and reference for any advertising agency that wants to develop its marketing and sales skills, access best practice and win more business.

Contents

Foreword

Executive summary

1 Developing new business

Introduction: two key questions

How the research was carried out

Sorting the most from the least successful

Why agencies develop new business

Leading the hunt for new business

Sources of new business

Case study: Foote Cone & Belding

2 Winning an invitation to bid

Introduction: benefits and dangers of pitch culture

Becoming attractive to clients

What to do to win bid invitations

Case study: Mitchell Patterson Grime Mitchell

3 Selecting the best prospects

Introduction: the need to qualify

What to consider when choosing clients

Reasons for turning down new business

Case study: Hare Anthony Rust

4 Preparing the proposal

Introduction: be different from the rest

Key factors in understanding the client

Communicating with the client

Building a winning pitch team

Case study: J Walter Thompson

5 Making the pitch

Introduction: breaking out of a vicious circle

Key factors when making a pitch

Case study: Phoenix Advertising

6 Negotiating to a successful close

Introduction: winning the end-game

Conducting successful negotiations

Case study: Kia Cars and MMHL

7 Learning lessons from the best

What advertising can learn from other professions

Learning from previous new business pitches

Learning to use PR in professional services

Key factors that point to best practice

Appendix 1: Statistical summary of questionnaire results

Appendix 2: Further reading

Focus on the benefits you gain ...

Provides detailed framework for winning new business.

Describes how to develop your agency proactively.

Shows how to make your agency more attractive to potential clients.

Identifies issues which make the big difference for the most successful agencies.

Shows how to respond to new business enquiries more effectively.

Stimulates debate about how to improve competitiveness.

Focuses on the role staff can play in winning new business.

Provides insights into winning strategies and practices in other sectors.

Learn from the experience of other agencies...

Winning New Business in Advertising...the Critical Success Factors is rich in original case study material... packed with practical lessons.

Foote Cone & Belding: global marketing strategies must be translated into local messages to be effective.

Mitchell Patterson Grime Mitchell: the ability to offer consultancy can be provide the opening to a new client.

Hare Anthony Rust: explore carefully what each potential client has to offer in developing your agency.

J Walter Thompson: turning contacts into leads is a key to winning more new business.

Phoenix Advertising: Dealing with conflicts of interest honestly upfront means they may not be insuperable.

MMHL: After-pitch negotiations require extreme delicacy but provide an opportunity to enhance the chance of a win.

A top rated research team...

The research team for Winning New Business in Advertising...the Critical Success Factors brings together a leading commentator on professional services marketing with an consultant and company director and an experienced business editor and author.

Mick James (author) is a respected commentator on the professional services scene both in Britain and across the world. He was for five years editor on the magazine Management Consultancy and has written about many aspects of professional services management and marketing for other business magazines and newspapers. He has a particular interest in the marketing of professional services. James is a regular conference speaker.

Colin Coulson-Thomas (executive editor) is director of the Business Development Forum and chairman of the ASK Europe plc group and other companies. He has marketed professional services in Europe, North America, the Middle East and Asia and has advised the boards of more than 50 major companies on strategic performance and business development issues. He is a visiting professor at the University of Luton. He has written more than 30 books including Transforming the Company and The Future of the Organisation.

Peter Bartram (editor) is a business editor and author who has written widely on business development issues. He has helped dozen of companies develop and use winning marketing and sales messages. He has developed numerous innovative business research projects designed to help companies develop their businesses.

Policy Publications

Policy Publications is an independent research and publishing company which specialises in producing research reports that help managers develop world-class company performance.

Institute of Practitioners in Advertising

University of Luton

The University of Luton is one of the newest and liveliest universities in the UK and was the first to become an Investor in People. It has pioneered the development of transferable competencies and has established a portfolio of strategic customer relationships with major companies.

Winning New Business in Advertising

...the Critical Success Factors

is essential reading and reference for...

Chairmen and chairwomen

Chief executives and managing directors

Sales and marketing professionals

Business development professionals

Account directors and managers

How to order

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