Corey Lane's Introduction to Business Development

Background on Corey

Last week, we had the opportunity to hear from Corey Lane. Corey shared the beginnings of his career, humorously recalling how he sold stolen pencils and gum. He earned a BS in Marketing Management from Syracuse University and also majored in Creative Advertising. Corey started as an Assistant Account Executive at Ogilvy & Mather in New York City and eventually became the former Head of Business Development at The Martin Agency. He now serves as the SVP and Head of New Business at Elevation here in Richmond.

Inbound, Outbound, and Organic Growth

Corey broke down business development into three categories: Inbound, Outbound, and Organic Growth.

• Inbound: This process involves attracting potential clients through outreach to the agency, engaging in conversations, drafting proposals, and negotiating contracts, ultimately leading to a spec assignment.

• Outbound: This approach entails casting a widish net. Corey emphasized the importance of adding value first, speaking to the human aspect of business, diagnosing problems, seeking to understand context, offering expertise while avoiding criticism, and finding “trial projects.” He highlighted the need for patience throughout this process.

• Organic Growth: This focuses on consistently delivering quality work, actively listening, meeting the broader team, and identifying “low-hanging fruit” opportunities for growth.

Keys to Winning a Pitch

Corey shared valuable advice for winning pitches: “Say NO more than you say YES.” He stressed the importance of staying a step ahead, immersing yourself in the client’s environment, and making a memorable impression.

Corey’s Advice to Undergraduate Students

Corey emphasized the significance of volunteering, especially when starting a new internship or job. He encouraged students to go above and beyond their jobs and to actively seek out opportunities to help in any way they can.

Corey’s insights into business development provide a solid foundation for anyone looking to thrive in this field.