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The amount of hours agencies should invest in sales and project acquisition depends on several factors, including agency size, industry, type of services, market situation and growth objectives. Here are some considerations:
1. Industry-specific requirements:
Sales requirements can vary greatly depending on the industry. In some industries, where projects tend to be long-term and large-scale, the sales cycle could be longer and require more time.
2. Size and growth objectives of the agency:
Smaller agencies or those in a growth phase might tend to invest more time in project acquisition to expand their client base. Larger agencies with an established client base may be able to focus on maintaining existing client relationships.
3. Acquisition strategy:
The type of acquisition strategy, whether inbound (marketing-generated inquiries) or outbound (active acquisition), influences the time required. Outbound acquisition often requires more proactive efforts, networking and direct approaches.
4. Time for proposal development:
Developing compelling proposals and presentations is an essential part of project acquisition. Agencies should allow sufficient time to create customized proposals that address the needs of potential clients.
5. Continuous acquisition processes:
Continuous investment in sales is important to ensure a steady stream of orders. This could include attending networking events, regularly updating sales materials and nurturing relationships.
In terms of specific hours per month or year, there are no hard and fast rules as this depends heavily on individual goals and the dynamics of the agency business. For example, some agencies might spend 20 to 40 hours per week on sales, while others may need less time, especially if they are based on long-term contracts.
Effectiveness and consistency in project acquisition is critical to drive business growth. Adapting the acquisition strategy to changing market demands is also important for long-term success.