New Business Planning Dramatically Increases in Smaller to Midsize Ad Agencies
WYOMISSING, Pa., March 1, 2013 /PRNewswire-iReach/ -- New business planning is becoming more and more important to smaller and midsize agencies, according to Second Wind's 2012 Annual Agency Survey Report.
Among responding agencies, 61 percent reported that they had a proactive new business plan in effect. This is a dramatic increase from only 39 percent in the 2011 Annual Agency Survey.
"It's gratifying to see smaller and midsized agencies more proactively planning their new business efforts," said Laurie Mikes, COO of Second Wind. "In the past, too many agencies ignored their own new business efforts until compelled to hunt for accounts, usually because of a larger client's sudden departure. Today, agencies must conduct regular, targeted new business efforts year-round to ensure a steady flow of new opportunities, and never be caught without options when they lose an account or end a client relationship."
More from the Survey Report
The top three methods of identifying new business prospects were referrals (96%), more business from current client (89%), and "KOEP" (keeping our eyes peeled) (71%). Other noted methods included agency websites (68%), cold calls (41%), persistent, 365-days-a-year pursuit (31%) and direct mail (26%).
According to respondents, approximately 16 new business pitches were made resulting in an average of 6 new projects and/or accounts. This is down slightly from prior years. However, agencies saw their biggest growth in acquiring new business from existing clients.
Few agencies set annual budgets for new business pitches, which is consistent with last year's survey. The average budget was $24,571 per year. Respondents were also asked if their agency responds to RFPs; 84 percent said they do.
The Annual Agency Survey Report allows Second Wind members to compare their data with average data from other member agencies. It is the most complete survey of smaller to midsize agencies that exists today.
The Annual Agency Survey Report is published exclusively for Second Wind members. In addition to annual surveys, members of Second Wind benefit from seminars and workshop opportunities as well as daily access to research, professional guidance and online forums. For more information on Second Wind membership, call 610-374-9093 or visit www.secondwindonline.com.
Founded in 1988, Second Wind is a thought leader and innovator to the advertising and marketing community, dedicated to helping members and users "BE better." Second Wind serves advertising, graphic design, public relations, interactive and marketing firms across the US, Canada and internationally.
Second Wind Contact: Laurie Mikes
1424 Penn Avenue
Wyomissing, PA 19610
Laurie Mikes, Second Wind, 610-374-9093, firstname.lastname@example.org
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SOURCE Second Wind