There are some interesting findings about the new business processes being used by Agencies: some insight into what’s working and not working; and some interesting facts about the use of social media in the Agency new business process.

Marketers are increasingly stretched to do more with less, the ability to bust through to them gets harder and harder. In 2008, 44% of Agency executives stated that “harder to break through” was the primary reason why new business was tougher. In 2009, the number was 46%. This year, 63% of Agencies cited this as the biggest roadblock to generating new business.With revenue down, many people have had to take on more responsibilities within their companies leaving them too overloaded to respond to any type of outreach. Mark Sneider of RSW/US says,

“People don’t have the time to answer their phones, check out e-mail and be active in the social scene. That [fact] even more so justifies a need to make sure you’re in all those touch points.”

While social media seems to be all the rage in the media and marketing community these days, agencies still use older, traditional methods to obtain new business.

Among those that use social media more often, the amount of new business generated from this approach isn’t significant. 60% of Agencies that are aggressive social media players only generate 20% of their business from this approach. As noted below, 65% of all Agencies surveyed say that 10% or less of the business is generated via these social media methods.

If time on social is going to be spent anywhere, spend it on LinkedIn – the one tool that most Agency executives note that helps them the most on the new business front. It can be a great tool to search through companies to find prospects, sharing value with communities of prospective clients, and offer insights into a prospect you’re trying to engage.

While I strongly believe that there needs to be a balance in methods of prospecting, I believe that social media can be powerful tool. I've personally had some great success generating new business relationships from social media networking, primarily through Linkedin. There are definitely some methods and best practices that help to increase the effectiveness of social media networking and prospecting including a couple that I've written about: The B2B Prospecting Guide, Tips for Managing a LinkedIn Group, 

About the study-

RSW/US conducted its poll online in August. The respondents came from a mix of holding company-owned shops like Leo Burnett, DDB, Mindshare and Initiative, and independents such as Northlich, LeapFrog Interactive and Mediasmith.

CLICK HERE FOR FULL SURVEY RESULTS

Have any personal testimonies or success stories using social media for prospecting? Please share them.

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