marnsmarket

Susan Boyle, Adam Lambert, and your business.

In Agency Biz on May 31, 2009 at 10:22 pm

So close.  Both of them with great voices, but in decidedly different packages. Susan Boyle and Adam Lambert each came within a quarter note of winning a major competition, which would have virtually ensured them of fame and financial success.

Now, however, each must figure out how to capitalize on what they have achieved thus far, before falling back in to relative obscurity and having to “start from scratch.” And suddenly, the clock is ticking.

Chances are Susan and Adam have made enough noise that many influential folks will be eager to help them cash in. But if you run an ad or PR agency, you’re on your own. And failure to seize momentum at the right time can be costly, or even fatal.

Things are going well. You’ve even captured a high-profile client that gives you a toe-hold on higher ground. There is great tendency to put all your attention into that client, paying less attention to long-time clients, and still less to new business.   Exactly the wrong thing to do (and I can tell you that from multiple agency experiences.)

As soon as you have a big client win, double your efforts to get another. Prospects find comfort in seeing a large, reputable name already in your stable. They’ll actually be easier to win than perhaps they had been in the past. And since client relationships (especially these days) can be fickle and temporary, your clock, too, is ticking. And there is nothing as depressing (and harmful) to your staff and your new business efforts as having to replace a big client, when you could have been building around one.

Remember Adam and Susan. And all the past American Idol finalists whose names you don’t remember. No matter how satisfying  your most recent win, don’t let your new business program go into “idle.” Time to put  it in high gear.

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