More than one in three agencies (36%) say they are always re-thinking the client’s entire strategy when developing a pitch during the review process. Yet only 7% of marketers reported seeing this happen in all pitches, according to marketing consultancy Vennli.
The firm’s new “Five Ways to Differentiate Your Agency Pitch" report finds there is a massive disconnect between advertisers and brands during the review process.
While 34% of agencies say they think one of the most common reasons they win a pitch is because their “brand is recognized and respected in the market,” only 15% of marketers agree this played a role when selecting an agency partner.
Only 13% of agencies believe they are winning pitches because of the “high value for cost” they project in their pitches, but 42% of marketers say this plays an influential role when appointing a new partner.
Data is proven to be a winning strategy.
Seven in 10 marketers (70%) expect agencies involved in the pitch process to have conducted primary research and among the agencies that win more than 50% of their new business pitches, 89% say they use primary research when developing their pitch.
Marketers also expect broader analysis. More than eight in 10 marketers (82%) expect agencies to conduct primary research on their competitors as part of the pitch. However, only 56% of agencies reported that they "always" conduct competitive research.
It isn't clear whether getting on the same page will lengthen these relationships. For the most part, brands are not seeking long-term partnerships.
Four in 10 marketers report putting their businesses up for review every one to two years, with 47% saying two to four years is the typical length of their relationship.
The online survey of agency and in-house marketing professionals screened for all agency types -- excluding media planning and buying shops. Survey agencies generated more than $1 million in annual revenues. Respondents from the marketing departments at organizations were screened for an annual marketing budget greater than $250,000.More from the report can be accessed here.