business development

Why your agency’s value proposition probably sucks (and what to do about it)

A while back, I shared 10 guiding principles to help small digital agencies win more business. The pop-pickers amongst you would have noticed that ‘proposition me’ came in at number two. 

A relevant, compelling and credible value proposition is very much the foundation of a successful business development strategy, so let’s spend some time taking a closer look at what it is, why it’s important and how to go about creating one.

UK digital agencies expect 30% revenue growth in 2014: report

UK digital agencies are predicting year-on-year revenue growth of 30% for 2014, according to a new survey from Econsultancy.

This bullish forecast represents an average taken from 322 digital agencies, and compares to a figure of 26% when the survey was previously carried out in 2011.

Just 10% of agencies that responded to this year’s survey expect their business to remain flat, while around a quarter (24%) predict that their revenue will grow by 50% or more.

The findings come from Econsultancy’s fifth Digital Agency Rate Card Survey, which gives an insight into what UK digital agencies charge for different types of skills and levels of seniority, and investigates how and why rates may vary, for example by size of company.

Digital transformation: defining your internal structure

In my last post about digital transformation, I spoke about the need for companies to realign their internal structures, enabling them to react quickly to customer feedback.

Recently we’ve been discussing some of our own analytics responsibilities, and it feels as though the smaller internal issues serve to highlight the wider-ranging business imperatives we’re starting to see occur.

Let’s take a dive into our reporting and compare notes…

Agency creds: they’re all as bad as each other

Decision-makers at companies you covet aren’t interested in dancing around the matter in hand. If you want a brief, ask for it. If you want to meet them to show them what you’ll do, ask for that.

Selling is about questions, not statements. It’s about being interested, not just interesting.

Okay, agency credentials aren’t all terrible, but I’ll stick my neck out: most of them are pretty bad. Worse than that, they look just like the other set of bad credentials that your prospect received.

Fix one of those and you can stand out. Fix both and you’ll get a higher response rate from your new business endeavours very quickly.

Is Foursquare checking out of business development?

Television, film, and music may be a perfect fit for social media, but that doesn’t mean social media companies naturally speak the language of Hollywood.

So in an effort to work its way into the entertainment world, location-based service Foursquare has turned to one of Hollywood’s most prominent talent agencies, United Talent Agency (UTA).

Can an API replace business development?

If you list some of the most popular and important companies on the
internet today, you’ll notice that most have one thing in common: they
offer an API. And, in most cases, for good reason. APIs can be a
valuable asset for an internet business.

But is an API a business development asset, and over time, should it cannibalize business development?

For news organizations, business development means turning away business

When the New York Times tried to have Apple pull the plug on the hit
iPad news reader, Pulse, I noted that as newspapers like the New York
Times attempt to ‘save’ their businesses, it would be wise of them to
figure out how they can work with creative third parties. After all, individuals outside of these organizations may be able to
do more for them in some areas than they can currently do for
themselves.

But if emails between an online publisher who wanted to license content
from Dow Jones is any indication, news organizations may be better at
talking about getting paid for their content than they are at actually
accepting money from businesses that are ready to pay them.

5 tips for winning business in a recession

Times are tough but that doesn’t mean that winning business has to be if you’re a consultant.

If you’re a hired gun, growing your business in a recession takes effort and patience but it can be done.