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Does your agency do spec creative work for pitches? How do you decide which pitches are worth your time? Do you have criteria for pitches that will positively impact your agency? Pitching is a very condensed and unreal way to work and many times you spin your wheels without producing the best results. Today's featured guest specializes in connecting brands with ideal agency partners, employing a meticulous approach to matchmaking benefitting both parties. The process of selecting a client-agency partnerships is intensive. For agencies looking to stand out, the key lies in demonstrating their unique value proposition and gaining a deeper understanding of what brands are looking for and how to evaluate which pitches would bring more benefits for the business.
Tom Denford is the co-founder and CEO of ID Comms, an advisory and analytics firm dedicated to helping brands optimize their media strategies. With extensive experience in conducting pitches, Tom provides valuable tips on what makes a pitch successful, why agencies should consider whether their capabilities match the project, and other important questions to ask to decide who to pitch for.
In this episode, we’ll discuss:
No more spec work: resetting client expectations.
Focusing on big name clients.
4 questions before pitching a client.
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Finding The Best Agency Candidates to Work with BrandsTom’s agency primarily serves marketing and procurement leaders in consumer-facing brands. They help them building internal teams to manage media, finding and contracting pitches, and providing analytics to ensure that every marketing dollar is utilized efficiently.
As he sees it, his services can be summed up as follows:
Finding candidates that meet the clients’ needs. Once they establish a scope of work or a particular ambition on the part of the brand, they make a list of agencies that have the capabilities to service that scope.
Taking money off the table. Tom and his team don’t want the final decision between agencies to come down to price, so they try to be very clear about the media rates they can get and what the terms and conditions will be.
Give the clients space and time. Clients need space and time to fall in love with the people since ultimately, even in global pitches, the relationships are what will matter the most.
For years, agencies have been strategically working to redefine their approach to client acquisition. The traditional pitch process, which often requires creatives to offer their intellectual property without compensation, has become increasingly problematic. Tom believes it’s not appropriate for brands to expect creatives to give away their ideas, as it is their intellectual property. On the media side, he says, pitches tend to come with conditions, wherein the advertiser will have rights over the work.
Agencies should seek to change the dynamic by offering a paid brainstorm session. The client will have the right to keep any ideas that result from that session and the agency gets paid for their work and has the opportunity to turn that session into a larger agreement. Some clients won’t like the idea of a paid session and that’s okay. The point is to try to move away from the norm of work without any guarantees.
Working with multi-million dollar companies that can’t sit down for a meeting or paid session with several agencies, Tom knows it all comes down to the capabilities first and foremost. Although it’s fair that the customer gets to stress test the agency’s capabilities, he is very against the idea of treating the selection like a beauty pageant. Hence, he asks his CMOs to write down a brief detailing exactly what they expect from an agency, in terms of capabilities, culture, etc. so they can bring the best candidates to them.
In the end, it’s fair for both brands and agencies can develop their own set of rules regarding how to evaluate a potential relationship.
Should You Focus on Having Big-Name Clients?Many agency owners fall into the trap of equating success with high-profile clients, feeling pressured to impress their peers with a roster of recognized brands. In reality, you don’t need to work with the biggest clients to have a successful agency and you don’t have to pursue them if you don’t want to. You can walk into agency events not having worked with the biggest brands but knowing your business is far more profitable than many there.
Separate your ego from those types of decisions so you can differentiate when a client will actually be good for the business. Having clarity about your goals will allow you to make those decisions. Do you have a clear vision of your goals with the agency? Have you outlined who your ideal client is and the niche you want to focus on? If not, then ask yourself what would you do and who would you be working for if you were paid on performance only?
Lack of clarity is something Tom deals with as reviews proposals from agencies driven more by ego than strategic intent. They want to say they won a very lucrative deal with a big brand but are not thinking whether they have the capabilities to do the work or have a clear idea or how it will positively impact their business. Such approaches are fraught with risk and can ultimately undermine an agency's reputation and financial stability.
4 Questions to Ask When Deciding Whether to PitchTom mostly works with brands looking for agency partners and has useful tips for agency owners and CEOs to assess potential opportunities. He advises agency owners to always ask themselves these four questions when reviewing a pitch brief:
Is it winnable? A lot of pitches are more like clients trying to start a pageant and solicit ideas without the intention of presenting a genuine opportunity. If there’s a consultant like himself involved, Tom suggests calling them to see what the brand really wants and make decisions based on that.
Do we want to win this? Winning new business can be enticing, but not every opportunity aligns with the agency's vision or long-term goals. So reflect on your strategic priorities because you can do far better pitching three times for the right clients than pitching ten times without a clear understanding of how the opportunity fits into your overall strategy.
Can we win this? This is where you assess your capabilities in relation to the brief. If you truly don’t have those capabilities, Tom advises you don’t waste your time. Stretching your competencies too thin leads to disappointment and reputational harm.
How can we win this? Do you really understand how the decisions are being made? Tom sees many agencies rush in thinking it’s all about the ideas. Meanwhile, creativity is but a small part of the evaluation criteria. So what is the real criteria? Knowing this is how you’ll make an actually informed decision.
If you can say yes to these four questions, then go ahead and make your pitch. This selective approach will not only save agencies time but also allows them to focus their efforts on opportunities that align with their capabilities, culture, and vision.
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