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Our RSW/US New Business Recipe Book is filled with recipes (obviously), but also some great thought leadership pieces! Check out pages 12 & 13 for "3 Reasons Why Referrals Can't Be the Only Item on Your Business Development Menu": https://lnkd.in/gPTeP8_Q #thoughtleadership #newbusiness #referral #businessdevelopment #marketing

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Lee McKnight Jr

VP Sales @ RSW/US |Outsourced Biz Dev for Ad Agencies, PR Firms & MarTech

2mo

Yes! This is important for ad agencies, marketing, and PR firms (and really all professional services firms) to remember: referrals shouldn't/can't be the only way you get new business. Don't get me wrong, they're fantastic as PART of your strategy, but - 1. They often aren't the right type of client for several reasons: wrong fit, too small, or no real budget. And your team ends up spending time on the wrong types of work.    2. They aren't a consistent and scalable source of new business. The same way your firm experiences certain lulls given the nature of your clients' business, referrals function in the same way.    3. If you're a small to mid-size agency, larger agencies are going after what they didn't used to. It's a trend that's gained momentum, which means those referrals you're relying on have a better chance of slowing or drying up altogether.

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