The latest BD100 webinar, explored the key insights from the 8th annual jfdi/ Opinium New Business Barometer—an essential benchmark for agencies looking to refine their business development strategies. Our expert panel featured Mark Clark (CEO, jfdi), Nathanael Clark (Senior Researcher, Opinium), Jody Osman (Chief Growth Officer, Propeller Group and Co-Founder, The BD100) Alana Herington (Brand and New Business Director, Exposure; BD100 Rising Star 2020), and Daniel Marriott (Director of Business Development, CAA; BD100 Rising Star 2024).
Rising Revenue Targets: Ambition vs. Realism
Revenue targets for 2025 are on the rise, with large agencies aiming for a 7% increase and small agencies setting ambitious 31% growth targets. While this presents an exciting opportunity, there is concern that many smaller agencies are spreading themselves too thin in an attempt to win more business. Jody Osman of Propeller highlighted that agencies need to balance ambition with realism, ensuring that growth targets align with available resources and market demand. Setting achievable goals and focusing on targeted opportunities will ultimately lead to more sustainable success.
Pitching Smarter, Not More
Pitching smarter, rather than simply pitching more, emerged as a key theme. With pitch conversion rates sitting between 37-43%, the panelists stressed the importance of rigorous qualification to avoid wasting valuable time and resources. Mark Clark of jfdi noted that agencies that specialise in a specific area rather than offering a broad range of services tend to see better results, as clients are looking for deep expertise. The takeaway? Chasing fewer, more strategically aligned prospects leads to stronger, long-term outcomes.
Effective Prospecting Strategies
Prospecting strategies remain a critical part of business development, with referrals, network connections, and marketing as sales enablement ranking as the top drivers of new business. Rather than relying on quick-win tactics, agencies should be investing in building strong, long-term relationships that will yield more sustainable revenue growth over time. This approach ensures that new business efforts are targeted and yield higher conversion rates.
Trends in Client Marketing Spend and the Pitch Process
Another notable trend discussed was the shift in client marketing spend and the evolving pitch process. Lead times now average over five months, a timeframe that aligns with the experiences shared by the panel. However, budget constraints have led to an increase in ghosting, with 45% of lost pitches attributed to budget withdrawals. The panel emphasised the need for greater industry accountability to minimise poor pitch practices and reduce wasted effort. Daniel Marriott emphasises that process is more important than ever: “You cannot rely on an unspoken formula in a market this competitive. You need to clearly define the roles and responsibilities to control every element of a response which will ultimately allow you to be agile enough to react to those that you cannot.”
Challenges Facing Business Development Leaders
New business is more demanding than ever and 70% of BD leaders feel more stressed. Recognising their role and ensuring they have the right support is critical. Growth is achievable, but only with focus, strategy, and patience. Agencies must be proactive in qualifying leads upfront to avoid wasted resources. Additionally, BD leaders are under mounting pressure to balance aggressive growth targets with operational capacity. To support them, agencies should ensure their teams are equipped with the right tools, data, and strategic backing to navigate the challenges ahead.
Winning Strategies for 2025
Looking ahead to 2025, the most effective strategies for improving pitch conversion rates focus on targeting high-quality opportunities, investing in long-term relationships, and leveraging data-driven insights to refine prospecting efforts. As Alana Herington wisely pointed out “panic pitching isn’t a sustainable strategy—agencies must remain focused on securing the right opportunities and playing to their strengths to maximise success.”
BD100 Submissions: How to Stand Out
For those aspiring to be recognised in BD100, past winners stress the importance of showcasing impact, resilience, and innovation—while telling an authentic and engaging story. Last year’s Rising Star winner, Daniel Marriott, advises: “You might be the Global Growth Lead who’s brought in eight figures of revenue for the year, or you might be the U.K. New Business Manager who runs the agency’s CRM and OneDrive – the former can’t have success without the latter. Tell your story and focus on how you’ve had an impact on your agency team and no matter how big or small your involvement might feel – it all adds up.”
If you’re considering applying for BD100, BD Team of the Year, or New Business Win of the Year, now is the time! Submissions close on February 28th—don’t miss your chance. Click here to enter.
Final Thoughts
The overarching message from the webinar was clear: success in 2025 isn’t about pitching more—it’s about pitching smarter. Agencies that set realistic growth targets, rigorously qualify opportunities, and focus on long-term relationships will be best positioned to thrive. If you’d like to learn more about the jfdi/Opinium New Business Barometer or how your agency compares, feel free to reach out to mark@jfdi.uk.com for further insights. And if you weren’t part of this year’s barometer, be sure to get involved next time!