Executive Summary A strategic brand and package design agency with a rich legacy of creating and transforming brands was at a crossroads. Recent agency investments into growing new business had stalled and they knew they needed to make a change. Although they had an incredible reputation, did great work and had a coveted agency of record retainer relationship with one of the largest advertisers in the world, they were dissatisfied with the lack of results they were receiving from an outsourced agency new business and lead generation firm. The outsource company submitted monthly reports documenting activity on all the phone outreach they were conducting but did not secure one new account for the agency within 12 months. Frustrated, but motivated to grow and generate new revenue, the agency turned to Taylored Feats to activate a new strategy. Challenges Since the new business outsourcing company controlled an internal database of lead contacts, the brand agency did not own the data associated with the leads who had been contacted on their behalf. They also had no internal centralized sales CRM system for storing, contacting, nurturing, documenting and managing all new business activity. The agency enjoyed regular referrals from current and past clients but had no focused, proactive or structured new business plan to help them achieve their revenue goals. New business activity was stop and start at best since it was left to account executives whose primary charge was to service and support billable clients. Securing new business was considered vital to the agency’s financial & creative wellbeing. However, since internal staff time spent on new business was often not billable activity, any focused effort towards driving new business frequently happened only when the agency lost an account or when business was slow. How Taylored Feats Helped
Results
One of the over 2,000 plus contacts nurtured by Taylored Feats over a multi-year engagement included key brand decision makers at the world’s largest retailer. The agency had no established contacts or track record with this corporate giant. However, like many Fortune 500 companies, this retail behemoth had multiple categories where the agency’s brand & packaging expertise could provide significant value leading to a long-term partnership. Over a nine-month period, Taylored Feats built awareness and established trust & credibility with corporate decision makers overseeing the #1 retailer’s expansive private label brand. Taylored Feats single-handedly presented the agency’s unique capabilities remotely, circumventing the disruption and significant cost of flying the agency team to the retailer’s headquarters for a non-billable presentation. As a result, Taylored Feats was successful in securing the agency as a finalist in an RFP for the complete brand re-design of the retailer’s largest private label product line in the health and wellness category. Working as the lead contact for the agency in communications with the retailer’s global procurement department, Taylored Feats worked shoulder to shoulder with cross functional agency teams throughout the entire RFP process which stretched over 4 months. In the end, this collaborative team effort not only resulted in the agency & Taylored Feats winning the six-figure brand re-design contract (encompassing over 270 SKUs), but also in securing agency of record status and a long-term partnership with the world’s largest retailer.
1 Comment
11/9/2022 12:41:39 pm
The agency enjoyed regular referrals from current and past clients but had no focused, proactive or structured new business plan to help them achieve their revenue goals. Thank you for the beautiful post!
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AuthorStephanie Taylor helps organizations grow by providing fractional strategic sales, marketing & business development consultation coupled with highly effective roll-up-your-sleeves execution. Archives
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