Why Do Marketers Review New Ad Agencies?
Why do marketers review new ad agencies?
Marketers review new ad agencies because they feel a change is needed, for a variety of reasons, but primarily because:
- They aren’t happy with strategy or thinking
- They aren’t happy with the creative
- Lack of proactivity
- Agency’s inability to manage or control costs
Featuring stats from our 2023 New Year Outlook Report, we asked marketers, “Thinking about the last time you reviewed new agencies to work with, why did you decide to review? Select all that apply. “
Tied for first at 39%, the top two answers were “Not happy with strategy or thinking” and “Not happy with creative”.
And rounding out the next two were “Lack of proactivity” (30%) and “Agency’s inability to manage or control costs” (20%).
Many factors within these four total responses are not always in your agency’s control of course.
A myriad of things can go wrong personally and professionally, on both the agency and marketer side.
What we want agencies to focus on here is proactivity and strategy, those that are more within your control.
You must bring both to the table ongoing, and if you are, and your client is still not satisfied, it may be time to take a step back and reconsider that client relationship.
You need to be realistic — maybe there is an employee that is simply not getting it done, but it very well could be a client that just isn’t worth everything they’re putting you and the team through.
Both are tough situations, but you must nip them in the bud as soon as you can.
And speaking of reviews, another stat from our report:
82% of Marketers still find the RFP/RFI process effective
The process is evidently not going away.
Which makes it even more groan-inducing with headlines like this:
Keurig Dr Pepper Demands 360-Day Payment Terms in PR Agency RFP
We’ve talked to agency principals that still, selectively, find the right RFP’s to be worth it, and
more power to them.
And there are those verticals where it’s a mandatory stipulation to engage in the RFP process.
But by all accounts, chasing RFPs should not be your business development strategy.
Three reasons why from this piece to sum it up, Why It’s High Time for RFPs to Die:
1. RFPs Establish Tasks, Not Goals
2. RFPs Are Inherently Non-Collaborative
3. RFPs Are Reactive, Not Proactive