Pitching has always been a crucial mechanism for clients to review or change their agency relationships, and for agencies to bolster and showcase their offerings in a highly dynamic and competitive market. However such evaluations have become more complex, prolonged, and burdensome for all parties involved, especially through data and technology.
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While agencies have increasingly become accustomed to (and accepting of) this reality, there is growing fatigue with the current process and a desire for more transparency and focus. Agencies overwhelmingly agree that the current ways of working are prohibitively time-consuming and costly.
If the goal of a pitch is to identify the right partner, the process must be redesigned in a way which allows each party to shine.
The "Pitch Smart" study by MediaSense is a comprehensive examination of the pitch and selection process, aimed at identifying inefficiencies and proposing practical solutions. The study offers recommendations for "quick wins" to evolve the current process and ultimately improve the conditions that give pitching parties the best chance of success. Let's delve into the insights and recommendations provided by this study.
Maintain but redefine the role of the pitch as a catalyst for innovation, as an opportunity to see the best of the industry, as a tool for relationship management.
Continue the current and positive emphasis on capability testing to enable agencies to demonstrate their expertise and differentiation.
Increase transparency around goals, selection criteria, and agency performance during the pitch, including clear feedback to both successful and unsuccessful parties.
Emphasize the importance of aligned cultural values and business models.
Linked to this, continue to shift focus from the cost of talent to talent strategy and development.
Increase focus on talent & culture, sustainability, and diversity, equity & inclusion to future-proof partnerships.
Re-evaluate the need for broad information requests, viewing them instead as preliminary desk research.
Reduce theoretical tasks and requests for quick responses that compromise authenticity and overburden teams. Shift focus towards engaging in real-world planning and collaborative exercises, allowing clients to assess practical approaches and team dynamics.
Reduce as much as possible virtual presentations and meetings, placing emphasis on relationship building over the entire pitch process
The "Pitch Smart" study offers a roadmap for transforming the traditional pitch process into a more efficient, transparent, and collaborative effort. By redefining the role of pitches, increasing transparency, focusing on real relationships, and emphasizing the strategic development of talent and culture, agencies and clients alike can navigate the complexities of the modern media landscape more effectively. This evolution aims to not only streamline the pitch process but also foster partnerships that are robust, sustainable, and aligned with the dynamic demands of today's market.
To navigate the complexities of the modern pitch process and ensure your agency stands out, consider leveraging PitchPoint's expertise. PitchPoint specializes in streamlining pitch processes, fostering transparency, and facilitating successful agency-client collaborations. Let's revolutionize your pitch process together and create lasting, impactful relationships.