STANDSTILL agencies wait
STANDOUT agencies weight
STANDSTILL agencies often find themselves waiting for new business opportunities. They’re either hoping that new inbound leads materialise, or waiting for recent proposals or pitches to call with good news. Usually it’s both.
Lead generation is one thing, conversion is another. Few things are more frustrating and disheartening than waiting for the phone to ring (or email to ping) about that live proposal you’ve been hoping to win. Often the whole agency is waiting for news, but when you have a growing team and a larger wage bill, the pressure on you as an agency owner can be immense.
Waiting for new business to convert is a fact of life. It can’t be eliminated, but you can reduce the stress in the situation. Waiting for anything seems far longer and harder if you have no information or visibility of when things are going to happen.
STANDOUT agencies have a visible pipeline held in a CRM. They also use a weighting methodology to forecast potential conversions, new revenue and the implications for capacity planning.
Don’t just wait and hope, weight your pipeline and carefully monitor it to ensure you’re tracking all your opportunities. Recalibrate your forecasts as and when you receive feedback or decisions.