Look at me (don't look at me)

I chatted to a potential client recently who spoke about the need to “talk about ourselves more”. They have a healthy flow of incoming leads and referrals, seem to have a good network in general, and are now thinking of adding us to do some cold channel new business (smart people!).

We spoke at length about the need to “be seen out there” and I wondered if he had any idea of the bottomless pit of ‘showing off’ he is about to tumble down if not careful.

I’m a big fan of connecting to people, but do somewhat groan when I see an agency doing really well that is about to divert lots of time and effort away from winning and completing work to telling everyone about the work they’ve just won and completed.

Yes, I’m talking about you, LinkedIn and Instagram (you narcissist-guzzling devils).

By all means show the outside world the work you’re doing, but make sure you know why you’re doing it (beyond the fact that you think you're behind your contemporaries on this front). Are you sharing your posts with potential customers, luring them in with your wares, or are you just giving your competitors an easy way to keep track of what you’re up to?

If you’re a millionaire no one know about, does that make being a millionaire any less awesome?

if you feel ‘being out there’ is gong to have a considerable positive effect on your business then hurrah - pull up your socks and get ready to be posting something every day. If, however, you’re doing fine without it, keep your heads down and enjoy being busy. Busy pays really well.

Er... what is new business development?

Ok. Sounds kinda silly to ask doesn’t it, but it’s easy for these terms to become faceless generic phrases that people use in sentences but don’t entirely grasp. Like “hedge funds” or “bitcoins” or “monogamy”.

We’ve recently found ourselves pitching to prospects who seem to go to great lengths to ask ‘what exactly are your methods?” or “…and how exactly will you be doing our new business?”

Initially, I thought they were just testing us, but I’ve come to realise that while some folks will honestly tell you "I don’t even know where to start” when it comes to biz dev, many others simply don’t know what it is.

So, without wishing to patronise those in the know, I thought it’d be worth defining what WE mean when we talk about new business development. Put very simply, biz dev means increasing your client base (and revenue) by doing anything other than sitting waiting for the phone to ring or email to ping.

Networking at a show and sharing business cards? That’s new business development (as long as you bother to contact the new folks you meet once you’ve got back to the office).

Calling a couple of companies you’ve never spoken to before to introduce yourself? New biz. TICK!

Putting together a small batch of outreach emails to initiate some creds-sharing. Yep - that counts (although we wouldn’t recommend that particular one without some specific ‘tips’ in effect).

Many companies are successfully ticking over having come into being when someone went solo and brought old clients with them from a previous career. As a result, they’ve never needed to (or wanted to) do any cold channel prospecting; it doesn’t feel like fun and might involve people saying “go away”. We get it. That’s why we do it for you.

There’s much more to new business development than listed here, but it’s an interesting discipline that warrants investigation if you are one of the many uninitiated. Don’t feel embarrassed - come and say hello and we can tell you more.

YOU ARE NOT ALONE.

Three ways to improve database management

A wise man once said, “you’re only as good as the trousers you wear” and boy was he right.

Now, the above has nothing to do with what I’m about to post and - in truth - I just made it up, but it’s a compelling thought isn’t it?

Now that you’re totally onboard, let’s talk about doing a better job of managing your database, for ‘tis the very foundation upon which your outreach lives and dies.

1) I love a list.

2) Here is one, featuring three items.

---

1) Don’t make your database too big. If you start off with 400 populated prospects on a list you’re going to struggle to ‘get round’ it all before the prospects you so diligently populated in spots #300 onward start to go stale.

2) Be realistic. Don’t just go for vanity clients; think about the clients you’ve done well for, then build a profile from those and go fishing with the same bait for the same kinds of companies that ‘bit’ last time.

3) Cull with wild abandon. Once you’ve hit the same prospect fruitlessly with five emails and called 15 times, it might be best to admit it just isn’t happening for you and instead move on to fresh targets. The fact that your database is shrinking is a good thing; it means you’re working through it in an intelligent way, and now have capacity for fresh, better-targeted prospects thanks to what you’ve learnt from your efforts thus far.

I hope that helps. If you’d like more of our wisdom, please get in touch.

And don’t forget your trousers.

Five simple ways to improve your cold emails

Most people only do a little bit of genuinely cold new business. As a result, they’re sending out email campaigns in such small numbers (and so infrequently) that it’s almost impossible to draw any conclusions as to whether one campaign (and therefore one ‘style’) does any better than the other.

The advantage of being in our position is that ALL WE DO is genuinely cold channel prospecting. As a result we get to test the hell out of any and all variables you might consider in an email outreach campaign. How many paragraphs should it be? Do we say “hello” or “hi”? etc. - you get the point: WE KNOW WHAT WE’RE DOING. So here are five tips to help you do better with your cold emails.

1) Don’t try to tell the recipient EVERYTHING about your company. This email should be the teaser trailer, not the whole movie.

2) Tell them WHY you are getting in touch. Show that you’ve done some research. Don’t just list your services; talk about the things you know will benefit them.

3) Feel free to name-drop relevant current/previous clients. People like to know they’re in good company, so flaunt your connections.

4) Don’t ‘jazz up’ your email. If you were sending a genuine email by your own hand it would be simple text. As soon as someone receives an animating HTML email they know they are being sold to. Be authentic, not flashy.

5) Don’t waste a PS. You’ve sent a nice casual non-HTML email, but a simple “here’s the work we did for…” hyperlink snuck into a PS. is a nice way to give them a little breadcrumb trail to follow.

If you want to know more about doing better new business development, you know how to get in touch with us.

Happy hunting.

Get on with it and win.

If you’re having fun doing New Business development you’re probably not doing it right. Take a tough cookie, soak it in vinegar and then bake it at 220 degrees for a further 17 hours. THAT’s how tough a cookie cold channel biz dev is.

Probably the biggest ‘killer’ of effective New Business is inactivity. I know that’s like saying “the fastest way to not make bread is to not make bread” but you’d be amazed how many people do ALL the prep but put off actually doing any of the work (primarily because they know it’s a lot of “NO”s just waiting to happen).

Though I’m not generally a massive user of mnemonics and acronyms, I heard something recently that I quite liked called the “Triple A” rule. Assessment, Assembly, Action.

Whatever the task (in our case, some business development) start by assessing what you already have and what you’ll face (otherwise known as “the problem”). For us, we might already have a small list of prospects, and what we’ll face are the companies on that list who likely don’t want to be sold anything today.

Next we plan with those variables in mind, augmenting what we already have by adding what we need. Assemble the ‘things’ we need - the assets, the data, the people, the objection-handling responses, etc.

And finally (and MOST importantly) you then take ACTION.

It sounds like common sense, but I can assure you there are fleets of people as we speak NOT doing anything despite having assessed the situation and assembled what they need.

The sooner you get on with it, the sooner things will happen. And the sooner things happen, the better you’ll do.

Happy hunting.

EPILOGUE:

1) Meatloaf was wrong (two out of three IS bad)

2) Funny how you can’t think of the word ASSEMBLE without picturing Captain America, isn’t it?

3) I got the “Triple A” rule from a PlayStation game. I knew they wouldn’t rot my brain (mum).

List-building for cold prospecting

For us, list-building is very much a “bread and butter” part of what we do. We could be awesome on the phone (we are) and write incredible emails (we do) but none of it would matter if our prospect lists were duff.

As I’m relatively new to business development compared to some of the experts I rub shoulders with, I just always assumed everyone had a team like we do, scouring the web and building databases for clients. But it turns out that many folks (including some of our competitors!) buy them in from external list-building companies.

The big question is, does it matter?

Well… my answer starts with a question (I’m like a politician in that way). What process that wasn’t purely mechanical was ever improved by automating it or cutting corners? Sure, some list-building agencies allow you to manipulate twenty drop down lists and tick as many filter buttons as you can, but without a smart human eye-balling every list made, something will slip through the cracks.

If you want a list you can depend on, invest as much time, effort and love into it as possible. These names and numbers potentially represent the future of your company. These are they guys you plan to collaborate with (and be paid handsomely by) for years to come., so invest invest invest.

If buying in the same list your competitors bought in last week seems like the strongest move, then fine; fill your boots. However, some diligent desk research and directory interrogation might uncover the real prospects that haven’t yet made it onto the communal “for sale” lists.

Happy hunting.

Getting better at being remote.

As I write, industry events are starting back up again and people are gradually becoming confident returning to their more mobile ways of doing business (I wonder if my Oyster Card still works?)

When we all got locked down, the likes of Zoom and Teams were a god-send, allowing us to still meet, pitch and converse with team members, clients and prospects. As time passed they became very much the norm, ultimately transforming into a bit of a “meh” way of working (I even had some prospects ask if we could just ‘have a phone call’ to break up the Zoom schedule monotony).

The question is, what do we do now? Are we all just abandoning Zoom and going back to sitting on trains for hours to take a 30 minute meeting before heading back home, or should we look to do a better job of making virtual meetings still work for us?

A smart blog on www.alliancebernstein.com - “Mastering the Virtual Practice: Virtual vs. Face-to-Face Meetings“ suggests that “Face-to-face meetings activate thousands of years of social instincts“ postulating that face-to-face meetings present a greater opportunity for a salesperson to affect another person’s decision-making. It also said “… a person feels an instinctive social obligation to pay full attention“ in a face-to-face meeting, which I find particularly interesting as I’ve actually found that people often seem more tuned in when they know I’m staring down the barrel of their webcam rather than swinging their feet in capacious “Meeting Room C” of their very familiar office surroundings.

Though body language cues and practices aren’t so available in a virtual meeting, we can do something to improve our interactions. Think about a real meeting… you greet, you swap cards, you make a little small talk and discuss the weather. We can’t discuss the journey anymore, so let’s discuss favourite green screen backgrounds and audio set ups problems. Maybe even tilt the camera down to reveal the needy dog with its head on your leg wondering why you’re talking to ‘the telly’. These shared experiences can still be used to build rapport and bring the human element to a virtual meeting.

It’s been a tough time for sure, but I’ve personally seen a huge increase in efficiency, simply because I just have to put on a shirt and sit upright to make a pitch. No District line, no Kings Cross, and - more importantly - no 12 hour days ‘out of office’ to complete what can do done with two 45-minute Zoom calls.

Don’t give up on the virtual just yet; it might still be our saviour.

Agency New Business: THE meritocracy

My first full-time job was at a well-known high street chemist. I was in one of the larger stores selling records and stereos (if you’re under 25, please ask an adult what ‘records’ and ‘stereos’ are or you’ll have no context).

I was told that a management role was definitely a possibility, as long as I was prepared to work there for the next 55 years and wait while everyone above me retired or died. It was at that point I thought it might be better to find a more meritocratic company to work for.

Being rewarded and progressing based entirely upon your merit has always worked out well for me, but anyone moving into business development might have a tough time initially. The interesting thing about new biz is that the only way to go about it and expect results is full steam. Being ‘part-time’ or ‘when I have time’ about cold channel prospecting will most certainly fail.

The challenging part of new business (both to companies and individuals) is that you can be doing an absolutely top job on paper and yet see nothing in the bank for your efforts. It’s demoralising and forces you to constantly wonder ‘am I doing this right?’. Until you start converting cold channel outreach into wins you’ll ALWAYS doubt yourself (and even once you trust your methods, it only takes one dry patch to send you spiralling back down into self-doubt again).

So, if you plan to attack new business, then do exactly that - ATTACK. Don’t ‘have a go’ or ‘spend a little time on it’. All you’ll do is have a bad experience and give yourself a thin reason to believe that cold new business doesn’t work. It does work - it just takes a lot of sustained effort.

Good luck.

The Data Doughnut (TM)

Yeah yeah… go ahead and snigger. So I’ve got a ‘thing’.

I accidentally said it one day… and then liked it enough to use again in conversation (multiple times). But you mind my words (sonny boy) once I take you through The Data Doughnut (TM) you’ll be eating your words. Your delicious doughnuty words.

I should also quickly point out that though I’m aware there’s a way to get a proper trademark symbol to appear, I like to simply put the letters T and M into brackets to show that I’m not precious about it (use it, however, without prior permission and I will hunt you down and kill you).

Anyway… The Data Doughnut (TM) is a FANTASTIC visual representation of your database. A mistake I see often is people building a database, starting to work on the database, and then, when not even halfway round ‘the ring’ (as we call it) adding a bunch of new prospects. So, just as you were approaching 6 o’clock (yes, I know I’m mixing metaphors - don’t tell me how to live my life) you’ve sudden expanded the ring and sent yourself back to 4 o’clock.

And then off you go, continuing round this slightly larger doughnut, and then… BAM! - you add even more data! You’re taking what was a manageable, well-thought-out and reasonably-sized database, and warped it into an unmanageable monster. And while you think you’re doing a dandy job of ‘augmenting’ your database, the data sitting at 11 o’clock is getting older and mouldier (and further away). You’re sabotaging your own doughnut you lunatic!

I am of course assuming you did a good job of building your database in the first place, so now just focus on working it. As data is removed (taking ‘a bite’ if you will) don’t replace it, just continue round the ring. Give all this freshly-baked data a chance to bear fruit (again, don’t worry about the metaphor - it’ll be fine).

Some of the doughnut will require a second pass (maybe even three) but that’s the nature of a new business prospect database - it takes time and tenacity. Only once you feel you’re chewing on the same bits over and over should you think about building it back up with fresh entries.

Anyway… data, rings, doughnuts, trademarks. I’m sure you get the idea.

Good luck and goodbye.

You're not alone. Ish.

Steve and I were recently asked to guest present on an Agency Hackers’ video training session (check them out - there are some incredible agencies in their community), talking to agency owners about smart ways to improve their own business development. As lovely as it is to be asked to do such things, the part I actually enjoy the most is the Q&A session at the end.

Apart from it being a nice opportunity to interact with the many many faces floating on the screen, it’s also always interesting for us to hear which part of ‘new biz’ trips them up the most.

The kinds of questions we got asked on this occasion included:

How big should my database be?

How should I approach our ‘dream clients’?

What email platform should I use?

As you might imagine, we had a lovely time addressing all of these questions (no, I’m not giving you the answers ‘for free’ here – you’ll have to give us a buzz for those gems) but more important/interesting is that you get to see how – with just a simple prod in the right direction – the weight lifts from some seriously-intelligent people who just happen to not know where to begin when it comes to business development.

So… you’re not alone! If you know you should be doing some/more/better business development but don’t even know how to get beyond a napkin with a few prospects scribbled down, fear not; lots of other smart people are in exactly the same boat.

It took the SpongeNB collective many years to feel confident enough to host such a video session, so there’s no way you’re going to get everything right in your first few attempts to reach out into the (never-forgiving) cold channel.

And before you ask, no, I don’t have a copy of the video to share (but I do have a VHS of Robocop if that’s any use).

Trick yourself (and get some work done)

As someone who gave up office life more than 15 years ago, it was interesting to watch the entire nation deal with something that I had to address back then: working from home.

If you have a dog, a ukulele, a biscuit barrel, a PlayStation, a garden, Candy Crush, Netflix or perhaps a keen interest in adult entertainment, working from home can initially prove challenging when it comes to staying focused. Without a boss calling you into their office or staff wandering by your screen to keep you honest, it can be hard to self-discipline and stay on-task with so many distractions around you (and no one to stop you from doing whatever you fancy).

Ironically, if you can stop your eyes twitching to something more interesting, you’ll be stunned at how much work you can get done (though there’s no one hassling to keep you working, there’s also no one hassling to STOP you working). Tea and coffee intake will initially go through the roof (you don’t have to make ANYONE else a cup!) but once you get control of that obsession you should find a more productive WFH balance is entirely achievable.

I enjoyed a blog by Rachel Degginger at Heinz Marketing, offering “4 Tips to Improving Your WFH Experience”. In the blog Rachel talks about improving her WFH situation by mimicking her old work setup (down to an office-replicating raised laptop, external keyboard, second monitor, etc.) to ‘trick’ herself into entering her own personal ‘office space’ with the right mindset.

Though workers are already returning to offices, many are still working from home, and who knows if we’ll all be sent home again in the coming months and years. It’s for this reason that it’s so important to get your WFH workspace arranged in a way that allows you to enjoy the benefits of working from home (no commuting!) without compromising your productivity.

Now close that Incognito window.

Agency new business. What works?

There are so many ways to build a sales campaign for an agency. Many agency bosses don’t want to be seen as needing to sell, but once you’re past the honeymoon phase and it’s time to scale-up beyond what falls in your lap, you’re going to need to have some outreach strategy.

Cold-channel business development is, when considered in isolation, inefficient. But there are ways to make it work better. It takes discipline and you have to throw out any ideas you have about high-volume telesales campaigns or mass-email outreach. Forget transactional selling (for at least 95% of the process) and sell something that has huge relevancy to your prospect. A recent Dun & Bradstreet report showed that 67% of b2b buyers see “relevant communication” as a top influence for choosing one vendor over another.

But it’s more complicated than that. A Gartner report found that the number of people in a company buying decision has increased from 1-2, to 7-8 in a small business (up to 500 staff). Each level of decision-maker will have a different idea of what is relevant.

Luckily, it’s not just the direct outreach that can create that relevancy. Your content marketing is part of what makes you relevant. A Forrester report from a while back (2014) found that even back then, half of b2b prospects will view at least 8 content pieces during the buying process. 80% of them looked at a minimum of 5 content pieces. This is all part of the selling process and your direct outreach should dovetail nicely with the content you produce. Sadly agencies’ content is all too often the sort of thing that impresses other agencies rather than prospects.

The reason agency new business endeavours are so frustrating at times is the need to maintain relevant contact with a large number of prospects, who have rarely been profiled and segmented properly. And if you get busy, you drop new business. And if it doesn’t bring in new clients quickly, you drop new business. And that’s why it becomes cyclical. You blame everything in turn. Your proposition. Your creds. Your Business Development Manager. A new business agency. The prospects. Your website. You. Another new business agency. You might be right (about one or two of them), but the chances are that nobody has ever really explained how cold-channel outreach works. It’s literally the opposite of winning through referral. It’s very, very hard. But it can work.

I’ll finish with some insights from Hubspot – their survey of buyers said that the top things that lead to a positive sales outcome are:

-          Listening to the prospect’s needs (69%)

-          Not being pushy (61%)

-          Providing relevant information (See!) (61%)

-          Responding in a timely fashion (seriously, it’s such an easy win – and so many agencies screw this up) (51%)

We can help with all of these things. We can consult with you on your agency’s many value propositions, selling personas, positioning statements, outreach strategies, and content strategies. We can do the outreach for you. You’ll feel it move under your feet and you’ll finally be able to tick “get the new business sorted” off your to-do list. Let’s have a chat.

Are we prospecting? Always.

During a casual chat with a competitor, I was asked when we like to prospect? I thought he meant specific hours of the day, but actually he meant months of the year. I then realised that we might be the only new business agency that prospects ALL YEAR ROUND!

Yes, August is a weird month, but that’s just a great opportunity to revisit data, stop sending emails (unless you LOVE out-of-office replies) and get everything in order before the rest of the year starts hurtling towards Christmas with the brakes off.

B2B Sales Connections recently ran a “3 Best B2B Sales Prospecting Tips” article, with one of the titular “3” looking at exactly this: “When should you prospect?” One tip I liked was to make sure you understand where every prospect is in their own buying cycle. If they’re one month into a new contract, there’s very little point setting a reminder to talk to them again in one month’s time to “see how they’re getting on”. You’re better off finding out when a review will take place and then popping up down the line as if it’s lucky timing. Such a review might take place at the halfway point or in five years’ time, but if you gather that information while you’re connected, you at least stand a chance of a more meaningful outcome when you next talk (and you’ll look smart for being switched-on enough to ask in the first place).

We challenge our own business development managers to never just accept a “try me again in six months” fob off. We’d rather say “no” as long as we then say something like: “I’d rather call back when we can have a proper conversation that moves things forward; when would that be?” Often this prompts the prospect to reveal “when the contract ends in 24 months” but at least now we know to stop wasting everyone’s time, set a realistic reminder, and to move on to the next target.

We also try to avoid arbitrarily writing off Summer… writing off Christmas… writing off the bit after Christmas… etc. Gather information and react to that rather than what the calendar says. And while you’re at it, why not research when your prospect’s next big anniversary is. Is it coming up to their first anniversary? Their 10th birthday? Their centenary even? They are BOUND to be doing something big around these events, so say hello eight months before that date, make them aware that you’ve done your homework, and ask how you can help make this momentous occasion go off with a bang.

‘Lucky timing’ is way more under your control than you realise.

Be more Monty Don

Gardeners know the score. They plant tomato seeds hoping that they’ll grow into tomato plants and give them - yes, you’ve guessed - tomatoes. They know that they’re in for months and months of nothing but giving care an attention with no immediate return. Watering… transferring from seed trays to pots… in and out of cold frames and greenhouses to make the best of the weather. It goes on like this for months… WITH NO TOMATOES!

Then, if they do all of that, they should get some tomatoes at the end of it (but might not). At no point do gardeners say, “well it’s been two months now and I don’t have any tomatoes. Yes, I know the seed packet said five months, but I still thought I’d have something by now (for no reason).”

You can see where I’m going with this can’t you…

New business development also takes time to yield fruit, but not a specific amount of time I can promise you (we’ve genuinely won new business for clients in the first week, but don’t expect that every time!). All I can promise you is that if you start a project, the thing that will definitely kill it is giving up on before it even had a chance to success.

A gardener wouldn’t plant seeds if they knew that they’d have no more water one month in, so don’t start a new business project if you know you won’t have enough resource (be that money, patience or belief) to see it through to a point where it’s reasonable to expect it to bear fruit.

if you hear someone say “don’t expect anything for six months” then don’t expect anything for six months. If you hear them say those words but then hear yourself say “yeah, but we’ll probably get something before then” slap yourself. You’re reading the packet all wrong.