The PR landscape is becoming more competitive than ever. There are more than 54,000 public relations firms in the United States, and in 2022, the industry grew by 5.2%. Given the normalization of remote services, that growth is expected to continue. That makes clients more valuable than ever.
Clients make up the foundation of any PR firm, and business development plays a huge role in supporting a firm’s health.
At Communiqué PR, I have worked on several recent business development projects, helping with research, proposal development, scoping fees and presentation prep. This process can be time-consuming, but it’s crucial to success.
Based on this recent work, I want to elaborate on the two phases of business development and give you six tips for winning the business of a potential client.
Phase 1: Developing foundational materials
Foundational materials include a proposal and scope-of-work document (SOW). The proposal outlines potential goals, strategies and tactics for your client. It’s an opportunity to win them over with your creative and strategic vision.
A SOW creates transparency for the client, providing them a complete estimated breakdown of the number of hours and cost for each strategy and tactic.
These materials show a potential client that you understand their business and industry while establishing the credibility of your brand. They are tangible materials that help your client easily understand the proposed work.
Phase 2: Presenting your ideas
Creating the proposal and SOW is only half of the work. Some potential clients prefer that you present this information. Your audience may include not only your current point of contact but executives, members of their marketing and communications team and key decision-makers.
A presentation allows you to give more detail about your planned PR objectives and provides the audience with a better feel for your firm. It also gives prospective clients an opportunity to ask questions about your work. Nonetheless, presentations can make or break your deal.
Below are some tips to remember when presenting your proposal.
Just like a marathon, business development takes practice and preparation. Don’t show up to your race without ever running a mile. Winning clients means doing your homework.
Tags: Best Practices, business development, Communique PR, PR, Public relations Filed under: COMMUNIQUÉ PR, Education, Planning, PR trends, PUBLIC RELATIONS, Sources, Strategy