New Business. The good, the bad, the ugly.

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.

Reaction Icon Like
Arrow Icon
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%

Reaction Icon Like
like
Arrow Icon

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

Reaction Icon Like
like
Arrow Icon

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?

Reaction Icon Like
Arrow Icon

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.

Reaction Icon Like
Arrow Icon

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.

Reaction Icon Like
Arrow Icon

Related Posts

Anyone in nyc?

like
Reaction Icon Like
Arrow Icon

Now that is a successful consulting year

Post Photo
likefunny
Reaction Icon Like
Arrow Icon

About to go to a lab and help find a cure myself... Going crazy already and it’s just the beginning

like
Reaction Icon Like
Arrow Icon

Lotta factors to consider when answering this question, but what’s a good credit score (not just average score) for someone in their 30s?

like
Reaction Icon Like
Arrow Icon

Found out I'm not getting promoted from A2-S1 in July. Was told that I can still be considered for an October promotion. Has anyone else been in this situation before and were you able to get the delayed promotion?

like
Reaction Icon Like
Arrow Icon

Surprised nobody is talking about ketamine which has recently been approved by FDA for depression.It was touted as a very promising treatment for a long time. Anyone tried Spravato (Janssen Pharma) ?

Reaction Icon Like
Arrow Icon

What do CMOs actually care about? Meaningful work usually needs their approval yet so few of us have access to them. What keeps them up at night? How do they view agency value and the creative work?

like
Reaction Icon Like
Arrow Icon

When I get stressed I unintentionally start restricting and skipping meals. It’s not to lose weight (though I do get skinnier which I like), but more so because it feels good and helps my anxiety.

likehelpful
Reaction Icon Like
Arrow Icon

Better to have comp adjustment conversation w partner you’re close w (& was on my YE panel) or formal request form?

like
Reaction Icon Like
Arrow Icon

Do companies in the industry or consulting hire somebody with a sexual felony or a pending charge on their background?

like
Reaction Icon Like
Arrow Icon

Anyone uses a personal trainer app? Thinking of aaptiv. Any reviews? Anything else is better. Too many options.

like
Reaction Icon Like
Arrow Icon

I feel so tired and broken. I just wanna start over and build myself up again

like
Reaction Icon Like
Arrow Icon

Urgent: my flight had issues and deplaned us. Told us no eta on when to take off. No other flights tonight, so next alternate is tomorrow AM, which means I need to stay one more night. Policy to (cont

Reaction Icon Like
Arrow Icon

Cavalry?

Reaction Icon Like
Arrow Icon

Help! I’m a SC and the consultant on my team is not coming to me for deliverables. They are submitting straight to my manager. It seems like my manager is starting to lose trust in me. What do I do?

funnylike
Reaction Icon Like
Arrow Icon

Anyone get the RPA certification. UI path site states to take Levels 1-3 trainings before taking exam. Is the level 3 exam enough to pass the practical for certification?

like
Reaction Icon Like
Arrow Icon

To what degree do you share your mental health issues with your team? I went through a period of depression and recently got comments back that I need to fix my attitude. Is it worth mentioning now?

like
Reaction Icon Like
Arrow Icon

Should I sell my Tesla stocks now? I think it’s over-valued! Bought them at 260

Reaction Icon Like
Arrow Icon

Download the Fishbowl app

That was just a preview…
Sign Up to see all discussions
  • Discover what’s 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 with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Sign in here

Share

Embed this post

Copy and paste embed code on your site

Preview