Quick answer - if you need more work right now start prospecting immediately!

But you want to avoid reaching a state of panic scrambling for new clients as it can take 6-18 months from that first initial engagement with a prospect to secure your first job or convert them into an account. Therefore, it’s best to have regular new business activities running in the background to help smooth out any drops in demand.

Maintain regular communication activities
Keep in touch periodically with your prospective clients and cultivate relationships. Make your communications timely and respectful. If a prospect advises you to get back in touch at a particular time, make sure you follow through.

Build relationships
Consider the frequency of your communications carefully as contacting prospects too soon can make you appear bothersome, while waiting too long risks being forgotten. Aim for a balance that keeps you in mind but does not come across as intrusive or pestering. From my experience, most prospects forget about you within 2-3 months - even after a great conversation. Face-to-face meetings might extend their memory a bit, but regular follow-ups are important.

Find the right balance
Really, it’s regular, timely and well thought through prospecting that helps to ensure a more steady stream of opportunities to prevent sudden work shortages. By maintaining periodic communications without overstepping frequency, you can nurture lasting relationships and keep your business top-of mind for potential work.

If you and your staff don’t have the time to prospect, perhaps you should consider some outside support. So do request a chat with me.

Happy Summer Prospecting 😎
Ilse

Well, there's no one solution fits all here as it depends on your particular circumstances, your needs, your available budget and your aims and goals.

Here's a summary of the main points that I think you should consider:

Hiring a Freelance New Business Developer
Advantages
1.  Cost Effective - Typically charge less than agencies or in-house staff.
2.  Expertise - There are specialist freelancers for the creative, digital and marcoms industry (like me!) or freelancers that provide a more specific service such as lead generation only, email prospecting or contract and tendering support,etc.
3.  Flexibility - Usually much more flexible and adaptable in terms of days and hours required.

Disadvantages
1.  Limited capacity - Freelancers have limited availability so scaling up would be a challenge and it may not always be possible to quickly increase days and hours when they're fully booked. 
2.  Tools & resources - Likely to have less tech add-ons, huge databases and other tools they can plug into. 
3.  Relying on one person - If they're ill or require a pause for a period of time there's no one else in place to cover. 

Hiring a New Business Agency 
Advantages
1.  Expertise - There are specialist agencies for the creative, digital and marcoms industry who will understand where to look for suitable opportunities.
2.  Tools & resources - More likely to have access to tech add-ons, databases and other tools they can plug into. 
3.  Scalability - Capacity to scale up or down depending on your requirements and budget.

Disadvantages
1.  Costly - Agencies are usually expensive as they have greater overhead costs plus salaries and other expenses for multiple staff to cover.
2.  Communications & personnel changes - Where there are a number of people involved, who may also change from time to time, there maybe communication challenges.
3.  Attention & priority - Agencies are more likely to have numerous clients so may not provide the same level of attentiveness as other options.

Hiring someone in-house
Advantages
1.  Dedication - An employee will be fully focused on your business only so over time they can develop quite in-depth knowledge.
2.  Control - You will have direct day-to-day control over an employee and their work activities.
3.  Teamwork - If they are office or studio based they will have more face-to-face opportunity to easily discuss work or collaborate more closely with other members of staff. 

Disadvantages
1.  Higher Overhead Costs - Hiring and retaining staff can be expensive especially for smaller agencies as you have to factor in studio or office space, equipment, benefits and other expenses.
2.  Scalability - Increasing the size of your team can take time and be expensive which may not be feasible for short term requirements.
3.  Training & commitment - You may need to invest in training and development if there are gaps in their knowledge and capabilities.

To Conclude
If it's flexibility, cost effectiveness, specialism and expertise in your area, then a freelance New Business Developer is a more suitable alternative especially for smaller agencies - just call or email me!

But if volume and scalability are important, a New Business agency is likely to be a better but expensive solution as they will have the capacity to have a number of people working on your account.

Or if you require one person dedicated full-time on site to your agency only and have direct daily control over their work, then an in-house person is the best option.

It may be a combination of these options is an effective solution e.g. hiring a freelancer to support an in-house person or team.

So there you have it. Each option has it’s fors and againsts. ​Hope that helps your decision process. Do get in touch if you'd like to discuss.

Wishing you a Merry Christmas and a Wonderful Prosperous New Year! 🎄🎁🥳 
​Ilse

The emails I'm going to refer to here are for individual bespoke email approaches - not volume automated HTML email marketing campaigns.

Emailing prospects has been around now for about 20 years and is viewed by some as a bit old school compared with using social media platforms such as LinkedIn for business approaches.

Is one method better than the other? Well both channels have their strengths that should be a part of a New Business Developer's toolkit. How effective each method is will depend on factors such as e.g. the service you are providing, your particular target market, the level and function of the contact you're trying to reach as well as you're writing and communication skills (very important).

A bespoke email or LinkedIn message might suit some while others may bristle, so you do need to understand and carefully consider your methods of introduction. 

Main Advantage of Introducing via eMail
Better Personalisation & Branding - So you get more flexibility with message appearance. You can add company logos, images, formatting e.g. font, bold, colour, etc to help produce a more aesthetic and visually pleasing message. I think it gives a more human touch and feel as well as a more individual professional branded look.

Main Advantage of Introducing Via LinkedIn Messages or Inmail
No Spam Filter - You can go directly into a connections LinkedIn inbox or by-pass a connection request if you purchase LinkedIn Inmail. Having mutual connections that really do know and can vouch for you may help to increase your chances of a response.

My Conclusion - A Combined Approach is a Much More Effective Strategy
There's no silver bullet so to overlook one method for another is bound to decrease your chances of engagement and therefore limit how many new business opportunities you can generate.

To optimise your efforts a strategy including both bespoke emails and LinkedIn is surely a better plan. So experiment, refine, test and adapt your approach.

Happy Prospecting!