Strategies to Diversify and Grow Your Marketing Agency Pipeline

Diversifying an agency pipeline is crucial for several reasons:

• Stability: By working with clients across various sectors, an agency can protect itself from the unpredictable nature of any single market.
• Resilience: A diverse client base makes an agency more resilient to changes, as losing a major client won't be as detrimental.
• Sustainable Growth: It allows for sustainable growth and the ability to meet goals related to hiring or finances, even during downturns in specific sectors.

To diversify your marketing agency pipeline, consider the following steps:

1. Identify Roles and Responsibilities: Determine who is responsible for business development and clearly define their roles.
2. Know Your Comfort Zone for Networking: Engage in networking situations that align with your comfort level to project confidence and capability.
3. Assess New Market Opportunities Carefully: Look beyond budget to the client's story and culture fit.
4. Prioritize Client Retention but Keep Prospecting: Focus on retaining existing clients while continuing to prospect for new ones.
5. Leverage Technology: Use tools like CRMs and AI to save time and gain insights.
6. Know the Signs of a Healthy Pipeline: Track the number of active lead conversations to gauge the health of your pipeline.
7. The Power of Sharing Knowledge: Collaborate and share best practices with peers to learn and keep your pipeline full.

When evaluating new clients, consider these factors beyond budget:

• The Story: The client must have a compelling story and a differentiated product or service.
• Culture Fit: The client's culture should integrate well with the agency team, provide necessary information, and respect the role of marketing.

Red flags to watch out for include:

• Lack of clear marketing KPIs.
• Perception that the C-suite does not value marketing.
• Unwillingness to collaborate.

Trust your instincts—if a prospect doesn't seem like a healthy long-term partner, it's better to pass on the opportunity.

A 30-day out clause is beneficial for managing an agency's pipeline because it provides:

• Flexibility: Allows either party to end the contract with 30 days' notice if the partnership isn't working out.
• Pipeline Management: Gives the agency time to reactivate the pipeline and reach out to potential new clients.
• Forecasting: Helps the agency adjust its sales efforts and pipeline to minimize the impact on the forecast after losing a client.

To manage your agency's pipeline while traveling, consider these tips:

• Set an Out-of-Office Message: Inform clients of your travel and provide alternative contact methods.
• Accommodate Urgent Requests: Try to meet client requests or apologize and offer the earliest possible meeting time.
• Manage Client Expectations: Clients aren't paying for 24/7 access, so it's important to take time off.
• Trust in Your Business: It's okay to disconnect completely during a vacation; your business will survive a short absence.