It is really challenging time for New Business folks these days. In many ways the hardest position in the ad game has always been the New Business role. They have to deal with high expectations, high pressure and now Covid-19.
I know a fair amount about New Business Development. I have been a New Business Person at many agencies during my career and hunted on occasion for agencies.
I have sat across from many New Business people when I have conducted agency searches for various clients.
I have felt their elation when I contacted them to tell them they won the business.
I have felt their defeat when I called them to tell them we aren’t moving on with their agency. The worst thing about being a review consultant is trying to explain why their agency didn’t win. It is often slivers of differences. Nuances. All the agency involved in the finals can do the job but only one wins. It sucks.
This is hard time to be a New Business Lead for an agency. New Business is a long runway game and not shooting fish in a barrel. Winning New Business takes patience. Covid-19 has definitely impacted agencies financials which has eliminated patience for many agencies and some New Business folks I know have lost their jobs.
New Business opportunities have also declined during these times. Clients are cutting and not sending out lot of juicy RFP’s for major AOR assignments according to the agencies I talk to.
I have always enjoyed being a hunter or New Business person. New Business Development generates a Buzz. It is a pursuit. A chase. A competition. New Business has nothing to do with advertising. New Business is the pursuit of a new relationship and the day to day Advertising process is like being married. Nothing wrong with either but they are different.
The New Business chase generates a lot of adrenaline and excitement. There is a lot of energy. The high fives and the talk in the office are gone. The emotional element is gone.
I am sure that New Business people miss the energy that comes with the networking, the coffees, the happy hours and dinners when they are pursuing prospects. I now I miss in person social contact.
The thrill of developing a new relationship has changed. Things seem much more clinical.
Working for home lacks the social touch for sure and New Business folks are very much social animals.
Zoom brings us together but I don’t find it is a great chemistry builder.
I have been through the .dotcom bust, 9/11, and the Great Recession so I know we will emerge. Many things will be different though.