Win Some, Lose Some...

No Hall of Fame for PR rainmakers

As CEO of a pay-for-performance public relations firm, I spend much of my time on new business…accounts that will be both interesting and challenging to our army of pros as well as profitable to the company. And as many of you in this industry know, the two are not always compatible. Even if rainmaking has become more of sifting through referrals than cold calling, it’s still requires a skill set and mental discipline developed through experience and over time. Plus, finding that rare new client that is both fun to work on and produces solid revenue is often as difficult as hitting an inside curveball or as daunting as driving the lane clogged by an NBA center.

Sure, there are actually specialists these days that rent themselves out as rainmakers-for-hire; and most of the larger PR firms have at least a designated new businessperson or even a whole department dedicated to seeing the pipeline is always full. More often than not, these new biz pros know more about sales technique than PR, or how a new client might or might not fit the culture or business sense of the firm. They might win a game or two, but not sure they have the consistency for a whole season.

I remember a very successful ad exec and mentor of mine telling me when asked who handled new business for his global firm…”Me”, he emphatically stated. “I’m the guy with the passion and the name on the door…and most importantly, know the people behind it.” I’ve followed a similar philosophy for my firm over the years, and while it may not work for some larger more anonymous PR institutions, it’s worked for us in welcoming the kinds of clients that best fit us. We’re fortunate that referrals from current and past clients along with internet and social media inquiries make up the bulk of our prospects today, but each still has to be researched and carefully followed up with to determine whether the story is there, the compatibility exists, and if it can be a profitable relationship for both us. I happen to enjoy this and prefer not to delegate something I believe is this important to our survival and growth.

No matter the new business methodology employed however, the metrics of success are as clear as a ball game…you either win or you lose. Yes, you may go to extra innings or overtime, but there are no “kissing your sister” ties, only winning or losing. You land the account or you don’t. And when you do, it’s exhilarating and heady stuff. When you don’t, it sucks. Sound familiar? The big difference from this sports analogy of course, is that when the new business game is over and the celebrating has ceased, then the real work begins.

And, of course, there’s no Hall of Fame.