Hear from Richard on business development and why brands should keep on investing in their agenciesRichard McHardy, Founding Director of The McHardy Collective Limited and of the BD100 initiative, shares his view on the current pandemic and why brands should be investing in their agencies in times of uncertainty, and how they can actually benefit from doing so. He also shares best practice from his experience in business development.
Welcome to the new series of Word on the Street Podcast where we’re delighted to joined by Jody Osman and Richard McHardy to discuss best practises, ways to increase the efficiency of your new business activity and the exciting launch of our academy Tanba. In this episode we get heavy into tech – but it’s all very practical so don’t panic. We discuss an array of softwares and platforms that will help aid your agency with prospecting new clients and data hunting. We also delve a little into all our pasts and look at the experience that has led us to where we are now in the marketing world… what a trip down memory lane!
In this episode we discuss:
- Helpful tech and how it can benefit your efficiency
- Platforms that can aid your prospecting and data hunting
- What is Tanba and how is it going to help you?
- Understanding business development
- How to work on new business relationships
- The pressure on the new business teams
Word on the Street is sponsored by Tanba, The Agency New Business Academy, is a brand-new initiative aimed at equipping agencies of all sizes with the knowledge, content, partnerships and opportunities needed to accelerate agency growth by optimising their new business ‘engine’. Tanba is an on-demand and affordable solution for agencies looking to upskill their team via training courses, content and insights delivered by our panel of industry experts, leaders, and partners.
The academy is all about empowering agency teams to get noticed, attract opportunities, increase conversion rates, and reduce the costs associated with the sales process. Visit https://tanba.io/ to find out more and start empowering your agency.
“Being reactive and in control of a call and getting a call to where it needs to get in an alarming situation to an end” – Richard McHardy [17:47]
“Over the years I guess technology has increased exponentially in terms of what we can do and what we can use” – Jody Osman [20:40]
“We’ve all talked about starting in sales and loving it, but I think sometimes people associate sales as someone giving you the hard pitch” – Jody Osman [21:27]
“Often, I’ve found that a lot of agencies, for example a lot of our work, is setting up appointments and meetings, but actually it’s absolutely key that we keep an eye on the next stages” – Jody Osman [22:35]
“It’s very important to get very focused insights around the companies you’re targeting” – Jody Osman [24:40]
“A lot of the traditional technologies were built for big companies and they don’t service SMEs” – Katie Street [27:00]
We are building a marketplace in Tanba that just showcases the best of those service providers” – Richard McHardy [30:51]
“Ring those CMO’s and ask them what’s going on in their market” – Richard McHardy [36:28]
“When you’re winning clients is actually the best time to really be throwing yourself at new business” – Jody Osman [38:32]
“In the world of new business it’s not just keeping your marketing and new business sales tactics going” – Katie Street [41:08]
“From the point of opportunity, to actually winning it and then actually recognising money, it’s usually around 3 months, sometimes longer” – Katie Street [41:42]
“We found that at certain agencies, we had one where it was really exciting, we kept getting them on pitch lists, but it was always a last minute pitchlist and their conversion rate wasn’t so great” – Jody Osman [43:47]
“The challenge always is I think for new business people we’re generally target driven” – Jody Osman [48:08]
“I think there’s one element that often gets overlooked, it’s the ability to project manage within new business” – J