When the pressure is on to bring more revenue into your agency, you can look to one of two groups to find the extra business that you seek: your existing clients, or new clients.
The concept of new business development, and seeking out new, shiny clients to work with can seem like the better way to go. New clients can often seem like a treasure-trove of wealth beyond your wildest dreams, but is this actually the reality, and how much do new clients cost you (in time) and your agency (in chargeable time) to acquire? Let's do some calculations:
You need to focus your work where the best investment of your time will be; the cost of acquisition of new clients; and the amount of return that you think you would get (per year) if you did secure a new client. Time is money, so all your efforts have to be worthwhile.
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Research activities are typically initiated and conducted by your client, as part of their marketing remit. However, there is another type of research that is advertising-specific and is more likely to be initiated (or at least recommended) by your agency rather than by your client. The two main areas of research that an agency would get involved with are ‘pre-testing’ and ‘post-testing’.
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