Referrals are the headwaters of lifeblood for an agency – new business. We greatly appreciate our solid clients, but to survive and thrive, an agency needs new clients. Agency network Second Wind tells us that most agencies average 15% per year in lost billings due to client turnover.
What this means for us is a continual need to find new clients. And, what’s the best way? Agency development consultant John Heenan recently completed a survey of marketer preferences. In it he found that 51% of marketers prefer to learn about a new agency by way of a referral from a friend, colleague, or peer. The numbers for other methods of contact fall off dramatically.
Another interesting discovery from Heenan’s research is that you are being flooded by agency news business contacts. In this survey, 56% of marketers report receiving 3-10 new business inquiries per week from agencies. And, this was a tremendous reminder of how much we appreciate our loyal clients. Despite being bombarded by agencies promising you the moon, you choose to work with us. Our sincerest thanks for your loyalty!
This is where you come in – we both need and appreciate your help. If you feel you’re getting great work and solid results from PWB, why not tell a friend? We’re not looking only for people who are actively seeking an agency, we love to build solid relationships that grow and evolve. Know a peer at another company who might need our services? Please help us connect. Whether they’re in a marketing role or not (while marketing is best, leaders in other functions are also generally solid), this really helps us cut through the onslaught of agency inquiries.
We appreciate these referrals more than you know, and we’ll definitely show our appreciation in return. We’re not talking “send us a referral and you’ll get a gift card from _______.” We’ll show you in real, thoughtful ways that are personal and indicative of our gratitude.
As a closing thought, those of you who haven’t worked in an agency environment may not fully grasp the challenges of finding and acquiring solid new business. This quote, from one of Heenan’s respondent is both funny, and a bit depressing (if you’re an agency…):
“We do not like receiving unsolicited contact from ad agencies. We do not like them Spam you am. We do not like them in a boat or with a goat. We do not like them while stung with bees or up in a tree. We do not like them Spam you am.”
How can you help? A conversation with your peer, friend, or colleague would be great. If you’re not comfortable with that, a simple e-mail connecting both parties would be equally awesome. Or we’ll buy you both lunch, or breakfast, or and adult beverage (or two…).
Thanks, in advance for any help you can lend in PWB’s continued success! And, thank you for your loyalty!