A new report by marketing management and pitch consultancy TrinityP3 reveals how many marketers and their procurement teams are asking too much from agencies in their pitches, or are overwriting pitch lists and process requirements when getting agencies to sign on. This highlights how we are casting too wide a net. For new business.
In its first 'State of Pitches' report, leading Australian pitch consultancy Trinity P3 surveyed research agencies across 77 pitches across markets covering 28 industry categories over a six-month period. Fees range from $50,000 to $10 million and represent a sample. During the event, half of the pitches will cross Australia and New Zealand.
Darren Woolley (above right), CEO of TrinityP3, said: “What stood out to us in conducting this first ‘State of Pitch’ survey was that many marketers are working hard to find the right agency. It doesn't have to be that way, but it shouldn't be. We had agencies reporting a list of agency proposals ranging from 3 companies up to 45 companies. Some clients currently have open bidding requirements, but with a process involving so many agencies, there is a quick and robust process to refine the listing with a benefit to everyone's time and effort. is necessary. ”
When asked to score the 77 pitches included in the study, the average score was 3.13 out of 5.
Lydia Feely (above left), general manager of TrinityP3, said:
“We've noticed a huge difference in how agencies score the process depending on whether marketing, procurement or external consultants are running the pitch. Sadly, too often In cases where agents reported a lack of “table stakes”. This is the minimum requirement to ensure that your client's marketing business has a clear and streamlined process that you know you can follow and keep everyone involved informed. Be respected. ”
The TrinityP3 report notes that less than 15% of pitches surveyed in the Australian market are run by consultants. In an environment where marketing teams and their sourcing teams often market themselves, there is a need for strong industry-wide guidelines with greater options to assist marketers and brands when considering how to choose an agency. We recommend sex.
Mr Feeley said: “The problem is that too many marketers apply a one-size-fits-all approach. How you choose an agency for a $50,000 project brief should be very different than for a $10 million retainer account. The problem is that some marketers are signed up for, or forced into, the same procurement process, regardless of account size or scope of work. It's not good for anyone, and it's just a waste of everyone's time, money, and effort.
“As an industry, this is a problem we can all solve together. If we look at things like the UK Pitch Positive Pledge, this is an example of what we can do to achieve better outcomes. is.”
The report also looked at which industries are selling the most, with banking, finance and insurance being the most popular category, followed by education, tourism, retail and food and beverage. Local pitches accounted for over 60% of those surveyed, regional pitches accounted for 32% of his, and global pitches only 3.9%.
Mr Woolley said: “It’s great to see local pitches dominating the Australian market. It’s great to see global and even some regional pitches being profitable for agencies in the local market. We often hear that there are very few, so while we believe this change is positive for Adland in Australia, it is cyclical and could pose risks, especially with the impact of COVID-19 on travel. The number of pitches in categories such as , tourism and education has skyrocketed.”
Client needs are also rapidly evolving, with more clients seeking capabilities beyond strategy, creative/content, and paid media, including programmatic.
