UK PR Consultancies say building the new business pipeline is top of their priority list
Question & Retain (Q&R), the Pulse Check™ company specialising in data-driven insights, pulsed a selection of UK PR Consultancies to name their top priority for their Consultancy. 69% declared that ‘building the new business pipeline’ is the ‘be all and end all’ with a small proportion (15%) citing that measuring and managing client satisfaction sits very high on their list. The results were shared and discussed at an event ‘Seven Steps to Client Satisfaction‘ co-hosted by PRCA along with Ben Caspersz, Founder, Claremont Social Communications.
As one respondent commented, “Increased overheads following an office relocation last year require the development of new business opportunities to increase revenue. There is additionally a need, from a business development perspective, to identify opportunities to break into pitch lists and ensure we are included in ITTs for substantial contracts,” illustrating the challenge of managing growth from both an operational and financial perspective.
Another Consultancy lead shared more perspective on the nature of their business, “More and more clients are contracting on a project by project basis rather than ongoing retainers, meaning we have to continually win more business to keep going. In addition, procurement processes are taking longer, and we’re seeing more companies cancel opportunities after asking for proposals than we used to.”
The last word fell to this Consultancy head who said, “New business pipeline is healthy for us at the minute and we are winning plenty of pitches. Client churn has declined but we are aware we need to further improve our existing product offer; develop new services and; deepen relationships to keep clients happy.”
Annabel Dunstan, Co-Founder and Chief Insight Officer, Q&R added, “The link between building the new business pipeline and keeping clients happy couldn’t be closer. Your existing clients are your easiest source of new business. It comes down to how you manage and nurture those relationships. Client satisfaction is key. Ensuring that your clients are more than happy to recommend you will feed your pipeline faster and more economically than any pitch process where we all know the competition is tough. The more you know about your client and their business, the closer you are to unlocking growth around their specific needs.”
Seven Steps to Client Satisfaction
- Put client satisfaction at the top of your list
- Ask the right questions
- Listen openly to all feedback (good and bad)
- Let your clients know they have been heard
- Create a clear, realistic action plan
- Identify every opportunity for organic growth and act on it
- Set benchmarks to track your performance
For more information on taking the Pulse of clients, employees or stakeholders please do get in touch at firstname.lastname@example.org or dm us @qandr