#willoburns

[pitchtips]

New Business Is Your R&D Department

I believe that “New Business” is a group that should be encouraged to experiment, try things, and present in new ways using new technologies. It’s an ideal place to cook up new products, articulations, and research/planning methods. And a team that is ultimately conditioned to keep what works and shelve what doesn’t after every pitch. The result: constantly evolving, constantly improving, constantly increasing the odds of winning.

The world is changing faster than agencies are.

Injecting a culture of “R&D” into your new business group will help your agency keep up with the times. Besides, where else are you going to do it? It’s risky to do too much innovation with existing clients. They hired you (probably within the last two-three years) because of who you are right now. So hitting them with new approaches all the time could come off as unstable.

New business is the land of first impressions.

Unlike existing clients, your prospects don’t know any better. They have no benchmarks for, nor preconceived notions of, your agency’s behavior. So you’re starting fresh every time. Take full advantage and be who you are in exciting new ways.

Then, the stuff that works can be thrown over the fence to the existing client teams with confidence. And your agency will evolve through its lifeblood, new business.

[pitchtips]

Tip #1: Lose Early. It's Cheaper.

One thing I always tell the agencies I consult with is this: it is far less expensive to lose at the RFP stage of a pitch than in the finals.

Too many agencies try to over-calculate what to say in their RFPs in order to get into the next round of a pitch. But inherent in “calculating” the answers is the fact you are not staying true to yourself, as an agency. The good news from all this calculating is that you might make it into the next round. The bad news is that the client will find out sooner or later who your agency really is.

Much better to prepare the RFP on your terms. Answer the questions truthfully, with an authentic spirit that truly reflects your agency’s culture and values. Be who you are times 100.

If the client doesn’t like your submission, too bad. But they didn't like it for the right reasons, and you didn’t spend $200,000 on a pitch you can’t win. If the client does like your submission, you can move forward with absolute confidence that you can be yourselves for the rest of the pitch.

Which, incidentally, increases your odds of winning the pitches you do get into.

So the next time you get knocked out of a pitch after a heart-felt RFP submission, don’t get bummed out. Go out and celebrate with some of the money you saved.