I've been starting to work more in new biz at my agency and the president said in a meeting this afternoon that he wants to increase our close rate to "at least 50%" once we're at the pitch stage.

Posting as :
works at
You are currently posting as works at

I think it depends on several things - how hard is your president vetting the opportunities before you get to the pitch stage? If you’re truly pitching things you’re extremely qualified for, your chances can be higher. Is your agency also willing to be hyper competitive on price? And finally if you’re on a roll, you’ve got a solid pitch team that has been consistently winning that momentum tends to drive more wins. With these three things 50%+ is fair. In the absence of those I’d say closer to 25%

like

30% means you are holding your own against your competition. under 20% for 6 months or more means you need to rethink your approach. 50% means you are cooking with gas and it's time to aim for bigger clients

like

That seems ridiculously high, right? If we're one of four or so agencies to get to that stage? What's a more realistic benchmark?

Our win rate was 40% last year, 30% this year - but we pitched fewer and larger accounts vs. a lot of smaller easy to close projects, so I expected that.

Definitely doable, but it all comes back to how you are qualifying those prospects in the first place. No reason not to be at 50% if it's highly qualified prospects.

Related Posts

I am the president of our school board at Franklin Country School Corporation in Brookville, In. I would like to start a NASA Stem project starting in school year 2022-2023. Does anyone know where I need to start?

likehelpful

I do not have a single recognizable company or law firm or school on my resume. I’m from a boutique IP firm and now starting in house at an unknown 3,000 employee company. My dream is to end up as product counsel at F50. Is it possible or is my lack of business pedigree going to hold me back?

like
like

Hi Fishes,
I hold 8 years experience in Wealth management, financial advisory in Banking. My current salary is fixed 9 lpa and variable 10 lap. Currently I am negotiating salary with one of the Big 4 firms. Can anyone tell me how much hike should I quote as fixed and variable ??

like

Is giving birth w/o the epidural really that crazy of a concept? People laugh at me when I say its very feasible...

like

Has this ever happened to you that each time you meet your bf/gf , there is extreme nervousness from both sides ? It’s a good kind of nervousness (shyness , awkwardness) and almost feels like meeting someone you have known forever for the first time?

like

Do you always need an MBA to get into MBB?

likefunny

So something crazy happened to me last week. I was at the airport, and as usual on call after call. The check in line was going ridiculously slowly and at some point turned threw my hands up in frustration while looking around to find another place to check in. In doing so, I catch the eye of the behind me. He smiles and says something. I just sort of nod and carry on with my call. After that, he keeps trying to talk to me, eventually I got to the check, say bye and leave. At security… tbc

like

BCG fish, have you received a salary bump across levels in the UK as well? Hearing something has been announced in NA?

like

When we will get the salary slip of October 2022.

Hi guys how many leave can someone take during probation period in EY India?

like

Hello Fishes,

Yesterday i received salary breakup letter, I accepted it. When can i expect my offer letter from TCS. Any Idea?

Hello everyone,
Is there anyway to get help for devops assignment

Hi.. I am happy to join here. Seems to be an amazing platform.

like

Hi folks,

I have newly joined Thoughtworks. Was hoping to get some help from fellow thoughtworkers.
Other allowances from ctc is not included in compensation plan. How will it be paid then? Directly at the end of the year?

like

Is there anyone or do u know anyone in Bofa who didn't recieved Return to office mail yet

like

How much hike% I can expect with 3 rating in Capgemini. This is my first year with the company, Joined 10 months back.

Capgemini

like

Additional Posts in New Business. The good, the bad, the ugly.

Anyone have any intel on who led the last review for Wolf/ sub zero? Shot in the dark here for some intel.

like

Is anyone landing new biz these days? If you’re landing new projects with existing clients, that’s interesting. But what about new logos?

like

What it up with the Ford review. Why all the secrecy?

like

Hello biz dev folks! How are pitches going? I know summer is upon us but curious if the threat of recession is affecting anyone. I had my first client say they were holding off on an initiative due to that. But it could just be a good excuse. 😂.

like

I’m about to graduate in May, looking to start out a big agency (Ogilvy, Starcom, Edelman etc.) and I have my sights set later in my career to work in new business. What stepping stones can I take?

like

Anyone going to Mirren next week?

Has anyone ever attended one of these events put on by companies like Richmond events? These are the events where they invite CMO types and agencies and other industry suppliers get one-on-ones.

What is the pandemic version of "let's grab coffee". as a biz dev person I am struggling with how to make that initial connection. I offer up calls and/or zooms. Let us know if you have a good tip on how to break the ice with new biz/ get new potential clients interested.

like

Thinking about trying to change into a career in new biz dev. What is the earnings potential of top new biz dev people in the US? For example “Head Of” or CMO level at well known agencies?

like

Anybody care to share tactics for negotiating rates with procurement? Know they’re bluffing to drive all competing agencies down, but not sure what leverage we have to push back.

like

Hi! Has anyone gone to one of the GDS group CMO Insight Summits? Is it worth the large price tag?

Hello! Anyone using Covideo or BombBomb to do video email? Or is this too lowbrow for our business?

like

What do you guys think about consultants that charge agencies for their services? I’m new to the model and curious if it ends up being worthwhile?

helpful
like

Anyone know of great junior talent looking to get into New Biz? We’re hiring

like

Curious about the biz dev career track. Have you stayed in biz dev your whole career? Or did you start in biz dev and use it to move into another role? What did you move into and how?

like

Hey! First timer. I’m moving over into biz dev and am trying to get a better handle on how you all do this thing!
Is there anything you wish you knew earlier on? Any tips for this new comer is very appreciated

like

Any McCann NY new business fish in here? I see you have an opening and would love to get the inside scoop.

like

Thinking about biz dev on the media agency side: How do you find newness in strategy to get clients excited? Isn’t it 100% data now? As if media wasn’t unsexy enough.
How do media agencies do it?

Besides the infamous google sheet and Glassdoor, where are you all looking to make sure you’re been compensated appropriately? I feel like our little niche is tricky to do proper comp research on, but it’s possible I’m missing something…

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal