What is a new business agency and what do they do?

Simply put a new business agency acts as an agent to introduce prospective business opportunities for another. However there is a lot that needs to happen both before and after the introduction that will contribute to whether the new business agency is doing everything they should.

Even before you’ve made one phone call or sent one e-mail to any prospect, a lot of qualified research must be done. Researching of the sector(s) that are to be targeted and of relevant prospects that will fit the client criteria. Up to date information of the decision maker’s you are looking to engage with is a must, there is nothing worse than calling up a prospect on behalf of a client and asking for the marketing manager who left the company 5years ago. If you can’t even spend five minutes researching who is the current decision maker you need to get a hold of, it’s unlikely you will be reciprocated with five minutes of anyone’s time even the receptionist!

The next stage once all of the research has been carried out is to build up the sales pipeline and opportunity; this can be done in many ways through phone calls, e-mails, social media and networking. This stage is by far the longest and should never be viewed as anything that will be complete in the short term, it will always be an on-going process and chances of seeing short term results won’t be very high. Sure you might get lucky and happen to make that one phone call or send that one e-mail at the right time to the right person when they are specifically looking for what you are offering however more often than not, what this stage will consist of is a long process that can in some cases go on for months of cultivating the prospect, building a relationship, making sure you stay on their mind and then finally getting that opportunity to meet once they are reviewing the service that you are offering.

After the meeting has been set there is still a lot to be done. The prospect will have been qualified and there should be real opportunities for business, once this has been done you need to make sure that full client/prospect meeting notes are typed up for the client that details everything that has been discussed so far and where the opportunity may lie and how the client should approach the meeting. The client has not met or spoke with the prospect yet therefore the notes need to be of a quality where the client can comfortably go in and pick up from your introduction with ease.

The final stage of what a new business agency should be doing will be to follow up the meetings that have been set and on-going client relationship management. Keeping in contact with your clients and consistently managing their expectations is very important, not managing this correctly can and will lead to unhappy or even at worst ex-clients. It also gives an opportunity for feedback to be given by both parties, your client gets to tell you how happy they are with your performance and you get to give your client regular feedback and insight on their targeted sector.

So as you can see, it’s a lot more than just picking up the telephone and setting you meetings…

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