Bad strategy is the #1 reason clients fire agencies
Steve’s breakdown: This post won’t help you win business but it will help you keep it. RSW/US has just completed a new business survey and I encourage you to read as much as your stomach can handle. You can also download the entire report.
EVERYWHERE, USA: The 2011 New Business Report: A Client’s Look Ahead at Agencies was completed by 174 key Marketing decision makers from across the United States during March, 2011. The study takes a look at where Marketers think Agencies are headed in the coming years and analyzes Marketers’ overall satisfaction with Agencies and presents ideas/suggestions on how Agencies should pitch and market to prospective clients.
Only 44% of Marketers are truly happy with their primary Agency, which isn’t very different than the levels we’ve seen in past years’ studies. In 2008, 41% of Marketers were “happy” and in 2009-2010, 47% stated they were “happy” with their current firm.
This suggests there are (and always will be) opportunities for Agencies to bust into a prospect and address an unmet need.
As noted later in the report, one of Marketers’ top frustrations with Agencies is their inability to think and act strategically. Showcasing how your thinking and strategic approach can bring better outcomes is key to convincing a prospect you have something different to offer. Lay out the reasons to believe that make you different once the pain has been unearthed. Don’t just showcase how great you are – talk about the prospect – let the prospect talk about themselves – then use similar situations to show the prospect how you delivered differently – and of course, how great the outcome was!
At some point during the life of many Agency-Client relationships there will be a pain point the current Agency simply can’t address. Key is consistency of outreach, consistency of messaging used, and consistency of methodology employed. Too much stopping and starting won’t win the day. While the Marketer may not have a need today, tomorrow brings different challenges and demands that may create opportunities for your firm down the road.