The true costs for agencies of pitching for business they probably aren't going to win
The true costs for agencies of pitching for business they probably aren't going to win
Welcome to Tuesdata, our weekly analysis for Unmade’s paying members.
Below, we examine the real cost of pitching for creative agencies, and investigate the economics of chasing new business in a landscape where the size of accounts continues to shrink.
We also take a look at a dour start to the week on the Unmade Index.
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Has pitching become an exercise in futility?
Seja Al Zaidi writes:
Most creative agencies are pitching for projects that will never see profitability - that’s the headline finding from a study into the new business landscape in Australia.
“The ‘Ouch Factor Report: Revealing The Hidden Costs of Pitching” was conduced by agency growth consultancy New Business Methodology. It spoke to 94 CEOs, CFOs and MDs from across a range of agency services on their pitch performance, investigating factors including pitches won versus lost, win rates and the number of hours invested in pitching.