In today's rapidly changing marketing environment, the art of listening as a tool for new business as well as for client retention is more important than ever. It never ceases to amaze me that agencies stress the importance of understanding customer behavior and attitudes to their clients, but ignore this most basic element of marketing themselves. Clients' needs and wants are changing every day, and if your agency isn't in tune with those changing wants and needs, you will get left behind by agencies that are meeting those needs.One of the new rules of new business is that today's CMO is driven by a project mentality. Marketing tools are changing so rapidly that one communications supplier cannot do it all. The days of the generalist AOR agency are rapidly disappearing, so if you want to grow your business, you've got to understand your own USP and develop a niche that you can own. Listening to clients and prospects early and often is a way you can identify that niche and stay in touch with their needs from your agency.
Listening can perfect your new business approach. Do you know why your newest client hired your agency and how that compares to how other clients made the decision? Many agencies desperately seek to understand what they did wrong and didn't get the business from a prospect, but forget to ask the client that hired them why he or she did. Nine times out of ten, I am surprised to learn that something I thought was insignificant was actually an important turning point in my favor. Understanding the element(s) that contribute to success can be more useful that those that didn't win the business. Especially when you consider that those prospects that chose another agency may not be totally honest with you about why your agency wasn't hired.
Listening can deepen the relationship with current clients and forestall any problems that may be on the horizon. An added, and equally important value to listening, is the impact that customer research can have on your current client relationships. Clients appreciate it when you ask these simple questions - What can we do better? What are your biggest challenges? How can we help you meet those challenges? It shows them you care, but it also gives you an opportunity to gain valuable input on how to strengthen the relationship.
Listening can find new growth opportunities that were right under your nose. The best growth opportunities for an agency are often from existing clients. When I was recruited to serve as COO of a mid-sized agency, my first priority was to meet our clients and learn as much as I could about their business. In the process, I identified new growth opportunities from three clients, uncovered a growing concern from a key client, and set the stage for a future relationship that invited open and honest feedback on our agency's work. The results were not only immediate (we added significant new billings and restructured our account management team), but also paid off in future work through positive word-of-mouth among our client's business network.
Listening can establish a dialogue with past or dormant clients. In today's project-driven, high turnover marketing environment, doing outstanding work on one project doesn't automatically lead you to the next project. Many CMO's are moving so fast that they don't have time to go through a formal review process for every project assignment. Often the project goes to the top-of-mind supplier, and a short survey immediately upon completion of a project is a good way to keep your agency top-of-mind. And with the revolving door in the marketing suite at many companies, staying in touch through research may be the only way to be considered for that next project assignment.
Listening gives you a platform to introduce new products and services to clients and prospects. A good survey can not only collect data but also disseminate information. As long as it is done tastefully, a client survey is an opportunity to educate your clients about new or soon-to-be-introduced products and services in an nonthreatening and low-key selling environment. It can also be an invaluable asset in a prospect's decision process.
There are many ways to listen to your clients and prospects both formally and informally. One of the most effective techniques is a one-on-one interview in which a standard set of questions are asked by a senior member of your agency or an outside researcher. There are advantages to both, but in my experience using an outside party offers an opportunity for more honest and candid feedback, as well as makes a statement to the interviewee that the information is important enough to the agency to make a financial investment. On the other hand, the interest shown by senior management can build trust and shows the commitment of the agency.
Surveys of this type are best conducted immediately upon completion of a project, and be especially insightful when conducted at multiple levels within a client organization. As noted earlier, listening can keep you top-of-mind for the next project. I have had good success with a one-page fax back questionnaire that makes it easy for the client to give feedback without a major investment in time or interruption in their daily business schedule.
Social media tools like blogs and communities are also great ways to encourage dialogue and elicit feedback on agency strengths and weaknesses, as well as to identify key client concerns and needs. Another advantage of these social media tools is the opportunity for a simultaneous discussion with clients and prospects, as well as a way to expand awareness and buzz for your agency.
It doesn't matter how you listen to your customers and prospects. What is important is that you just do it. If your agency doesn't conduct at least an annual survey among your clients, you've set up a recipe for disaster. And you're missing great opportunities to grow your business.
Are you listening?
