Hey there, fellow agency leaders! Today, we’re going to dive into one of the many aspects of growth and discuss how to unlock its full potential. Because, let’s face it, in the current environment we need everything firing on all cylinders.

It’s quite possible some of you may have a high-powered growth leader with a highly structured new business team and they are absolutely crushing it. You are swimming in new business wins and just can’t keep up with the growth.

But I venture to guess many of you have the opposite issue, and perhaps what you do have in place isn’t working as well today as it may have a few years ago.

If so, I want to talk about how to maximize a more consistent and potentially more potent source of growth, and one that is often underleveraged or under-supported – your account teams. With the proper focus, planning and support, these unsung heroes of growth might just become your most effective weapon for delivering incremental revenue, and I'm here to tell you why (and how).

Why Account Teams Hold the Golden Key

First off, let’s discuss why this is important. These stats can vary by agency, but typically the likelihood of growing existing business hovers between 60-75%. Compare that to an average of 5-20% for new clients, not to mention the much higher costs related to new-client acquisition and pitching, and it’s pretty clear to understand why we’re having this conversation.

In addition to my own experience (~20 years leading growth while working alongside and witnessing a wide-ranging skillset within account teams), I’ve also talked with a number of agency leaders over the last year, and it’s pretty clear that far too many account teams just don’t understand how to maximize potential growth within their clients.

Even though account/organic growth isn’t a new idea by any stretch, the ways in which agencies are maximizing their potential is anything but optimized. Many of our account folks are hanging on by a thread, executing projects while trying to keep clients happy. They aren’t getting deep enough into the business or navigating the relationships in a way that opens up incremental business within the current scope, or even “new” business within the broader client organization.

Another thing I’ve heard over and over, directly from account people themselves, is that they just don’t know how to sell. They are uncomfortable doing it or just don’t know where to start. And that’s a failure in us as leaders to properly train, develop, and support their development. If we aren’t helping them become comfortable with and embracing the sales aspect of our business, we are severely limiting their future potential.

Breaking the Growth Mold

“Sales” should not be considered a dirty word. In case you haven’t noticed, we are in marketing. And marketing at it’s very core is about promoting your product or service, and understanding how to get people interested in buying said product or service, whether it be through trust, desirability, perceived need, promotion, etc.

Trust is the key here. For our account teams, trust is what they are building every day and with every project. It’s the name of the game. Trust shortens or even eliminates the sales cycle. It allows for immediate referrals and cross-selling introductions to other parts of an organization. And it allows for future relationships with other companies as clients move on to other things, which seems to be happening more and more frequently.

Their strengths as great account people are exactly why they can be so good at organically selling, so now is the time to help reframe their thinking, get rid of the sales or growth stigma, and help them unlock their (and your agency’s) full potential.

The Growth Recipe for Success

So, let's dig into the account teams' secret recipe for growth success:

1. The Relationship Builders: Account teams hold the key to growth, as it's all about building and expanding relationships. Trust is everything.

2. The Proactive Strategists: Don’t give anyone in your agency a pass on selling, but help them understand how to do it effectively. By understanding the client's goals and challenges and developing a consultative approach to selling, they can create a rock-solid foundation for growth.

3. The Growth Plan Masters: Every account with growth potential should have a structured, written-out, and actionable growth plan, from the initial onboarding of new clients to your longest-standing anchor clients. It’s critical to set achievable quarterly goals and then help them establish the actions each month (or week) that will achieve success. By collaborating with the exec and growth leaders, everyone can align efforts with the agency's overall growth strategy.

4. The Collaborative Effort: Everyone, and I mean everyone needs to be a part of growth. It’s not a one-person or one-team show. Make sure marketing and business development are there to support with whatever is needed, including proactive ideas to open up new conversations.

But What About the "New Business Machine"

Before you get carried away and start firing your new business team and growth leaders, remember, they still play a vital role. But “new business” shouldn’t be off on their own, only worrying about the big pitch on Monday. How you shift some of their focus and attention to nurturing existing client growth is critical.

What this means is you should be looking very closely at where and how you are achieving growth. We all need to get more comfortable saying no more often and then putting the time and resources into the things with the greatest likelihood for success.

I’m sure most will agree, our historical over-reliance on new business pitches has been a recipe for disaster. It kills profitability and, because we say yes too often, it has killed our win rates and our morale. I’ve seen a few ill-timed losses trigger a revolving door for great talent.

Conclusion: Unleashing the Potential

Let’s rally behind our unsung heroes – the account teams! They hold untapped potential for growth, like a treasure trove waiting to be discovered.

Let's reframe our perspective and see them not just as account and project managers but as growth champions. Collaborate, strategize, and celebrate the power of relationships they can cultivate. With a little planning, some critical training, and some much-needed support, you'll unlock a whole new world of healthy growth.

Remember, growth isn't a person or department; it's a mindset that thrives when nurtured by every individual in the agency. So, let's champion our account teams as the true unsung heroes of growth and savor the sweet taste of success together.

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