As we at MoM[S] keep seeing more & more examples of [and reading more & more stories about], winning New Business for ad agencies is becoming a new game. And as a part of that, we are seeing more & more similarities to the Sales process, ones that many of us from the sales side have dealt with for years.
MoM[S] appears to be one of the first entities we can find to have written about the differences between Sales and Biz Dev, to the best of our knowledge. We continue in that vein here.
What are the similarities we are referring to? Biz Dev is usually a path to the setting up of Few Relationships/Many Transactions. This is often quite the opposite of the Sales standard, which tends to be more about Many Relationships/Fewer Transactions [some Major/Nat’l Account positions aside.]
However, economic forces and the resulting corporate pressures are changing that on the Biz Dev side in the Agency world. Many agency tenures are now shorter than they used to be…and getting shorter. You read about agencies being ‘put into review’ nearly every day now.
More, along with the same economic drivers inflicting this change from the Client side, comes something even more foreign to agencies, and far worse from their perspective: dealing with a Procurement Dep’t!
Selling when a Procurement Dep’t is involved is nothing new to those from the Sales side of the world, as we stated above.
In fact, it should be obvious that the whole point of the procurement team to begin with is…dealing with Sales professionals. Yes, that can be much trickier when the “intangible” elements that define [& separate] many a great ad agency come into play. But the new reality here cannot be ignored.
Those on the Biz Dev side of the Ad Agency world are going to have to learn how to survive & thrive here, too.
We’ll look at some ways to maybe do that, in Part II.