Hit the Sweet Spot
Did you know that over half of advertisers are not satisfied with their agencies and the average agency-client relationship lasts only two years? That’s the word from Michael Gass via his blog Fuel Line. This could be due to agencies forming partnerships with less-than-compatible clients. Gass writes about the importance of finding your agency’s “sweet spot” when prospecting. Just like with a favorite golf club, focusing on sweet-spot prospects can lead to success. Not just will you be finding a client that truly needs your services, but you also will be further building your brand, as opposed to taking on anyone and everyone’s business.
Gass writes that hitting the sweet spot allows your agency to:
Become an expert and leader in your field
- Acquire new business with the least amount of wasted agency energy and resources
- Develop a well-defined set of criteria for identifying clients who want your agency for what it does best
- Experience a stronger win ratio in new business, because the agency is playing to its strengths
- Reach a broader — not narrower — geographical market area
- Have fewer competitors, because there will be fewer agencies who do what you do
- Report better margins, because specialists command premium pricing
- Utilize a business model that increases the agency’s value and relevance to clients
Check out Fuel Line for the rest of the article!
