Fasten your seat belts, media agencies — and get ready for a bumpy 2020.
Media and marketing consultancy ID Comms is forecasting at least a half dozen multibillion-dollar media pitches in the first quarter alone.
To say it’s going to be a busy time in the pitch world is an understatement.
And while many pitches focus on price, the consultancy believes next year’s pitches will be more strategic than in the past, with more companies looking to align their internal operating models with external agencies that make the best fit.
Per ID Comms, there will be a greater focus in pitches on data and technology, talent and more pressure on media shops to provide strategic leadership over the course of new multi-year contracts.
There will be a lot riding on these pitches for both sides.
Top talent at agencies is a scarcer commodity and more in demand by the client side. Given the busy pitch schedule that is projected, big marketers will effectively be competing with each other to make desired agencies want to spend the time and effort participating in their pitches.
That means pitches need to be well planned and organized, with clear and concise briefs like never before, according to the consultant.
Even top agencies have limited resources, and they’re going to be very selective about the pitches they enter — looking for clients who clearly lay out what they’re looking for in a media agency. That will help them decide which pitches align best with their capabilities and those they have a good shot at winning.
2020 may even be the year we find out how serious marketers are about in-housing — are they in it for the long haul, or is it something they’re just dabbling in?
Pricing will always be a factor, but ID Comms urges clients to be realistic and “not be greedy,” because that’s essentially a lose-lose proposition.
ID Comms partners Tom Denford and David Indo expound further on why they believe next year is going to be a big year for big media agency pitches in a video you can view here.