Pitch Imperfect: A Swystun Communications Paper
-
Upload
swystun-communications -
Category
Marketing
-
view
56 -
download
0
Transcript of Pitch Imperfect: A Swystun Communications Paper
Pitch Imperfect: Making the Best of a Flawed Process
The most important thing about a point of view is to have one.
Star%ng with a Rant Borrowing liberally from Winston Churchill’s observa<on on democracy, I believe that pitching is the worst part of the agency selec<on process except for all others that have been tried. Pitching is now entrenched and to those on either side of the table, a necessary evil. Both agency and client have issues with the process including:
The expense and <me it takes. I have been involved in contests cos<ng hundreds of thousands of dollars to the agency and taken more than nine months for a decision Most agencies hate to pitch. Anyone who enjoys hanging their fate on a ninety-‐minute presenta<on is deluded. The ini<al euphoria of being invited to pitch is tempered by the effort involved and actual chances of success The process is subjec<ve. Provoke Insights found that 47% of agencies surveyed were dissa<sfied with decisions that were arguably subjec<ve and betrayed the agreed-‐to scoring system New seems beNer. Agencies rally the troops for the allure of gaining a new client and that oOen comes at the expense of exis<ng clients
The industry has created a treadmill of pitching it cannot get off. In the beginning it was an innova<ve method of assessing if agency and client could work together and to demonstrate how the agency solves problems. That was laudable but now these events take place in a bubble crea<ng an ar<ficial atmosphere seldom reflec<ng reality. As a proxy for an authen<c rela<onship, the pitch process definitely falls short. My biggest complaint is the process is tedious and unoriginal and that means the results are tedious and unoriginal. Its length, number of agencies in the caNle call, consensus needed to make a decision, scads of paperwork, lack of access to decision makers, procurement pressure, and the use of search consultants all now add up to a healthy tax on both agencies and clients.
2
It surprised me that I actually took this on as a topic. Not because I lack a point-‐of-‐view or have limited experience but rather because so much has been wriNen on the subject. I feared adding more of the same. To be clear, this paper provides no magic panacea or regurgita<on of the basic checklist for pitching. It takes a fresh look at the challenge by sugges<ng you pitch keeping in mind three categories cri<cal to successful pitching:
3
what you have to do or be penalized
what you have to do to stand out
what you have to do to influence the
decision
Let me share the big secret. That is, there really is no secret to winning at pitching. Winning always comes down to chemistry. This was supported in a survey of search consultants who broker between adver<sing agencies and prospec<ve clients in the selec<on process. 96% of those surveyed iden<fied chemistry as the key factor in winning (I think the other 4% mistakenly <cked the wrong box). Unfortunately, the pitch process does liNle to truly assess chemistry, fit and compa<ble values. We all hope we will never have to pitch again. We want our brand to qualify us to such an extent that we are sole sourced. Yet, even the top branding firms in the world pitch because there is not enough measurable differen<a<on in their own branding for a client to base a decision. To be fair, most clients needs to seek mul<ple quotes so sole sourcing is rare and ge\ng rarer. So un<l we find an alterna<ve approach to new business pitches, we have to do them to the best of our ability. Let’s get started.
What You Have to Do or Be Penalized Over the last twenty years what were once differen<ators for agencies are now the basic price of entry. We owe much of this to the pitch process itself. It has been fantas<c at revealing and spreading everyone’s strategies, approaches, and well, tricks. This does not mean agencies can avoid delivering the basics. Here are the boNom-‐line expecta<ons that must be met. Follow Instruc<ons It sounds cool to break the rules to be different. However, the client provided instruc<ons for a reason. Many agencies think that devia<ng is a demonstra<on of crea<vity but such an approach is a clear risk. On a recent pitch in Europe, I assisted an agency who was in the running for a global rebranding engagement. We discussed interes<ng ways of impressing in our approach. We followed the spirit of the brief but gave the client a great deal to chew on when it came to a pay-‐for-‐performance model. It was strategic, it was smart and it could have provided interes<ng mutual benefit. However, this made it more difficult for them, making an apples-‐to-‐apples comparison impossible. It did not harm us but it sure did not help. Defining Meaningful Roles Years ago while working on a project for DeloiNe I was introduced to the term “L.I.G.A.M”. It means “least important guy (or gal) at mee<ng”. You never want to be LIGAM for the sake of your own posi<oning. In a pitch, anyone not playing a meaningful and ac<ve role is more than superfluous, they demonstrate a blatant disregard for project management and costs. Only assign and bring resources that truly make a contribu<on as clients take note.
4
Go Jargon-‐Free Marketers love to use big, expensive sounding words oOen to overcome insecuri<es for the value they offer. Language that is clear, concise and compelling is the only language of marke<ng and it should be demonstrated in a pitch. A consultant of any type is paid to break down the complex and get to its essence. So do not take ten slides to explain “strategic, digitally-‐informed non-‐intrusive market penetra<on” when “growing new revenue” would do. Be the Brand For six years I was Chief Communica<ons Officer at DDB Worldwide. This is a storied brand in the industry that must con<nually make all that rich, proud history relevant and current. We are all measured by the company we keep and clients enjoy tou<ng their professional rela<onships. This is not a ques<on of old and big agencies being more desired over others. I have met Chief Marke<ng Officers with big budgets and aspira<ons who prefer working with ‘upstarts and underdogs’. It comes down to pride, fit and commitment from both sides. I have seen countless situa<ons where the pitch prepara<on conversa<on boils down to, “it is not about us, it is about the client. Let’s kill all those slides about us.” I agree, kill the slides but don’t kill the pride. Present and exude your compelling creden<als and (hopefully) dis<nct agency posi<oning throughout the pitch.
“Let’s kill all those slides about us.”
Build Chemistry Blocks If it all boils down to chemistry then bringing the right people to the table lights the Bunsen burner. In recent rounds of qualifica<on I have seen clients really scru<nize the team members and backgrounds of those individuals assigned. This is damn smart. Years ago I was grilled by Coca-‐Cola as a member of the consul<ng team proposed by Price Waterhouse. This was not intrusive or insul<ng, it made great business sense. It is no secret that consultants and agencies are less than perfect in staffing client teams. OOen those buying professional services have been on both sides of the table and are ge\ng more adept and less forgiving at “bait and switches”, the assignment of junior resources, and those lacking industry depth. Fit and chemistry are two different things and you need both. Hype Execu<onal Excellence The three categories making up this paper are not en<rely cut and dried. This point on execu<onal excellence could easily go in the next sec<on dealing with ways to stand out (think of it as being in both). If the client is smart they will ask you two ques<ons: “can you get this done?” and “can you get this done in our culture?” These are two very different ques<ons. The first shows you know your stuff while the second acknowledges the intangible and the unknown. It comes down to execu<on so show prospec<ve clients, really show them, through cases and tes<monials that you can take away problems and capture opportuni<es and have done so in variety of industries, businesses and cultures.
If the client is smart they will ask you two ques<ons:
“can you get this done?” “can you get this done in our culture?”
5
6
What you have to do to stand out In this category there is so much going on. To win you have to listen and recognize that there are always two agendas, one is the stated agenda and the other is way more important. And remember that passion goes a long, long way. Find the Real Agenda Too many agencies hear what they want to hear and end up barely mee<ng expecta<ons. The most successful pitches uncover the client's unwriNen brief. Teams that ask the right ques<ons can uncover it. I have seen rebranding briefs which are more about cosme<cs than revenue growth and adver<sing briefs that are shortsighted and short-‐term represen<ng an internal power struggle more than market awareness. These insights are the upper hand. Any solu<on or pitch that meets these nuanced needs is relevant and will resonate. It shows that you know what they are really buying because clients buy for their reasons, not yours. Make the People Connec<ons We too oOen forget that on the client side there are people taking a risk professionally on every sizable project. Authen<cally and honestly, we need to discover each person’s pain points and empathize with them in meaningful and concrete ways. When you show you get it, that is the start of a real rela<onship. Be Passionate or Take a Pass The right team should be passionate for the client’s business, industry, situa<on and people. It sounds trite but passion sells. Not faked passion (“we are so excited about working with you”) but real, undeniable enthusiasm. Passion can be contagious. In some situa<ons, passion can even trump talent (but do not stack your team that way!). Passion draws people in so send your most fiery and fervent folks or take a pass.
‘Show’ a Story All pitches are theater. All should tell a story. The most memorable pitches show that story and prove it crea<vely. We have all heard impressive tales of agencies building supermarket aisles, retail stores or rolling in a prospec<ve client’s automobile to create theater. One very famous story has been mistakenly aNributed to Saatchi & Saatchi but it was Allen Brady & Marsh (ABM) who won the Bri<sh Rail account in a very innova<ve way. Execu<ves of Bri<sh Rail arrived at ABM for the pitch. An uninterested recep<onist, filing her nails, made them wait in the foyer. The room was made up of coffee-‐stained tables, overflowing ashtrays and no chairs. Time passed and nobody came to greet them. Furious at this shoddy treatment, the Bri<sh Rail team began to leave in a shared fury when Peter Marsh and his team appeared. "That is how the public sees BR," Marsh told them. "Now let's see what we can do to put it right." The fact is, 99% of pitches take place in a boardroom with a screen and a couple of flipcharts but that should not rob a pitch of solid storytelling. It means pu\ng yourself in the client’s shoes. No one likes to be sold or told anything. Your pitch must employ facts, cases and examples to lead the client through your logic and method of problem solving. When this is done right, they will arrive at your conclusion before you do and feel a part of it. We also need to remember that while agencies pitch oOen it is an unusual event for the prospec<ve client. They want to be entertained but they also want to get to the point. Make your story rich, compelling and relevant but get to it without excessive preamble. Make it a movie without the ads and trailers.
7
what you have to do or be penalized
what you have to do to stand out
what you have to do to influence the
decision
follow instruc<ons
define meaningful roles
go jargon-‐free
be the brand
build chemistry blocks
hype execu<onal
excellence
find the real agenda
make the people connec<ons
be passionate or
take a pass
‘show’ a story
stress account management
showcase industry
experience
claim what is uniquely yours
be adaptable not
pliable
leave a reminder
listen carefully
give a reason to believe
give a reason to buy
ask for the business
and mean it
three categories cri<cal to successful pitching
8
Stress Account Management Strategic thinking and colorful crea<ve is always sexy but there is a very tangible way to stand out that few agencies feature. One of the most essen<al components of a successful client and agency rela<onship is brilliant account management. I recommend not only showing the slide with the organiza<onal chart of your team but take <me to speak of your account management and have the account people talk about their profession. Stress account management in the pitch because it will certainly be stressed-‐out when you win. Showcase Industry Exper<se Clients are not interested in taking <me to acclima<ze agencies, they want someone to come in and start running. It is no longer about claiming some vague connec<on to, let’s say, retail. Agencies now have to clearly demonstrate a range of knowledge that may include command of consumer insights, regulatory issues, pop-‐up stores, labor laws, just-‐in-‐<me merchandizing, digital coupons and so much more. Smart clients demand industry depth so it is important to get out ahead and prove you pass the test. Claim What is Uniquely Yours True differen<a<on amongst branding firms, ad agencies, marke<ng services and other crea<ve businesses is thin. Any claims of difference are quickly copied but if your agency has something proprietary then highlight its relevance. Unique methodologies, technology, research, and partnerships are credible examples of investments that prospects will appreciate. While heading marke<ng at Interbrand, we ensured we owned the measurement of brands given our investment in a proprietary methodology. This manifested itself in The Best Global Brands Report that spun off into industry, topics and country-‐specific edi<ons. Interbrand’s marke<ng s<ll leads with this differen<ator. Be Adaptable Not Pliable It is a fine line in business. We want to show we have convic<ons and will not stray from them. At the same <me we must adapt to each new rela<onship and situa<on. Clients respect adaptability but they do want pushovers. This recogni<on of adaptable but never pliable should be demonstrated throughout the pitch process.
Clients are not interested in taking <me to acclima<ze agencies, they want someone to come in and start running.
9
Leave a Reminder This is not a new insight but the good old ‘leave-‐behind’ works. AOer listening to seven or eight agencies over two or three days, clients forget the content. Make sure you leave a copy of everything that was presented, either electronically, via an e-‐mail link to a microsite, or in hard copy. Go further if the process and rules allow. Mandi Lin, Art Director at Goodby Dilverstein and Partners, shares one stand out leave-‐behind story. “We were pitching Sonic Drive-‐in. In order to leave an impression to the client, we sent out a very crea<ve leave behind box. Sonic is all about dining in the car, so we created the whole dining experience. The box was made with metal and looked like the back of the car. Inside the box, there were the presenta<on deck made with red leather cover, the custom-‐made glove for grabbing greasy food, the map with all the sonic loca<ons, “Sonic on board” car magnet, USB key with all our digital deck, and the car-‐freshner with the smell of the hot dog and tater tots. I worked closely with the vendor to design everything from scratch.” Mandi’s example is fun, different and relevant.
What you have to do to influence the decision It is important to remember but as fancy as the pitch process is, it is selling. So many agencies are afraid (or do not know how) to sell and that means they control liNle of their own des<ny. Listen Carefully Think about the people you like and trust. They are oOen people who listen to your problems, ask ques<ons about your life and offer sugges<on and advice. They are not ones to yak on and on non-‐stop when you ask them a ques<on. The best salespeople tune in because they are trying to understand the true needs of the client. We know that listening is integral through the en<re agency selec<on process and in the pitch. Yet too oOen, a mixture of pressure and adrenaline has us go in with our own <ght agenda while s<cking to a rigid script. Paul Boross offers a solu<on in his book, The Pitching Bible. He suggests that you don’t plan for what you want to say, plan for what you want the audience to do, so rather than spending <me rehearsing your words, spend <me rehearsing the result you want to achieve. This works and I guarantee you will change the tradi<onal way you are probably pitching today.
10
Give a Reason to Believe Prospec<ve clients sit in judgment of each pitch or stage of pitch. In front of them is a formal and informal scorecard. By <me of the final pitch they are fa<gued. The last long one I was involved in ini<ally selected 16 agencies through a Request for Informa<on. They narrowed it down to 8 based on return of creden<als, 6 were then chosen based on chemistry from ini<al mee<ngs (I thought they should have willowed further), 3 for the final pitch, and then one final successful agency. The length of this process can actually work against all agencies. That is why it is important to give the client a reason to believe at each mee<ng. This means being progressively enthusias<c, fresh in perspec<ve and offer new insights. This will give them a reason to believe in you, your team, and your agency. Providing a reason to believe can also be thema<c and run throughout the selec<on process. A B2B focused agency pitched soOware security company McAfee and used a play on the company’s tagline, “You Live Your Digital Life. We Keep It Secure.” Thye posi<oned their en<re pitch as, “You deliver security. We bring it to life.” Corny, perhaps, but it was memorable and relevant. Give a Reason to Buy Pitches are about chemistry and the start of a (hopefully) long rela<onship. They are also ar<ficial. They mask the fact that it is s<ll a transac<on, a sale. That means you have to give the client a reason to buy at each stage. You have to bundle your differen<ators, highlight the tangibles and package them all convincingly. This works best when you focus on benefits & outcomes, not solu<ons. At this stage in the process, clients want you to focus on the ends, not the means. Describe what you will accomplish for their customers, not how you get them there. Agencies have egos. They forget that no client is hiring an ad agency for adver<sing nor a marke<ng consultancy simply because they want to, they want more sales. So sell sales, talk about that outcome and what it can mean for the client’s customer’s business or life. How you demonstrate this is the best reason you can give a client to buy because a sale is not something you pursue; it is what happens while you are already immersed in serving the client. Ask for the Business and Mean It The eminently quotable, David Ogilvy, may have said it best, “In the modern world of business, it is useless to be a crea<ve original thinker unless you can also sell what you create. Management cannot be expected to recognize a good idea unless it is presented to them by a good salesman.” The pitch process is a sale wrapped in suspect inten<ons and sprinkled with ar<ficial rela<onship sprinkles (that is probably one of the weirdest sentences I have ever wriNen). What I am aNemp<ng to communicate is though the agency selec<on process is refined and professional, it is no different than any other sale. One of the biggest lessons in sales is to ask for the business. Too many agencies assume they present well and have impressed. Then they wait for the results. The smart ones ask pointedly for the sale just like a smart serving person asks, “What drink can I get you?” versus “Can I get you a drink?” See the difference?
11
Wrapping Up with Another Rant Casey Stengel of baseball fame was nicknamed "The Old Perfessor". He was both player and manager with priceless observa<ons on the game and life. Two of my favorites are, “There comes a <me in every man's life, and I've had plenty of them.” and “They say some of my stars drink whiskey, but I have found that ones who drink milkshakes don't win many ball games.” More relevant to this paper is his line, “Most games are lost, not won.” That is absolutely true in the case of pitching. You may not win every <me but you will avoid losing more than your fair share by knowing what you have to do or be penalized, what you have to do to stand out, and what you have to do to influence the decision.
Jeff Swystun President and
Chief Marke<ng Officer 416.471.4655
Author’s Note Pitching is here to stay but one way to improve your business development is to develop a smart go-‐to-‐market strategy. By targe<ng your most relevant and desired clients, you may avoid the pitch process or at least set yourself up to stand out more when that pitch rolls around. Please check out our paper, The Missing Middle of Marke<ng, on how to do this right.
12