This tip is around how most clients evaluate creative concepts presented in working sessions or tear sheet meetings. Let’s start with the fact that a clear, concise, simple to follow strategic process that leads to core business and consumer insights, as well as a creative positioning that is threaded through all creative territories is vital. And equally important, is the question of will the agency be willing to push the client thinking and drive toward breakthrough creative? And my suggestion? Post the summary of your strategic overview and outcome up on the wall as you proceed to present your creative ideas.
There is an RFI from a large CPG company that has been released to agencies this week. The company is offering no compensation for pitch IP… AND stipulating that they own the work.
Pitch IP is NOT free
After managing reviews for almost two decades, AAR Partners makes it clear to all its clients that pitch assignments are acceptable but all intellectual property presented belongs to the agency presenting until paid appropriately.
There is a very simple argument that financial capital fundamentally relies on intellectual capital. And if you give away that intellectual capital, what happens to the financial capital? This doesn’t mean that you cannot allow prospects to “sample” your thinking by sharing solutions to similar problems you’ve solved. Share relevant case studies and dive into as much detail as possible.
Here are a couple of suggestions to curb free IP:
1. State that there is a fee for your time. There is a big difference between some simple advice and providing (almost) actionable solutions. If the prospect wants to “pick your brain,” indicate that you will happily charge an hourly or flat rate for your time, insights and semi-solutions. If they decide to work with you on an ongoing basis, you can always offer to deduct some of the upfront costs in exchange for an AOR-type of relationship. If they do not move forward, then they appropriately paid for some topline thinking.
2. Depending on the situation, ask for a piece of the action in exchange for your IP… A simple agreement detailing a percentage of revenue in exchange for help is fair and helps offset upfront costs for the prospect.
Bottom line? Don’t devalue and worse, commoditize yourself, your services and your years of hard work that led to your wisdom and knowledge. That is NOT for free.
Pitch with Passion, Lisa
After almost two decades of managing reviews and assisting agencies with new business pitches, I constantly receive a handful of the same questions consistently. One of those questions in some form or another is: What wins the pitch?
Here is a direct quote from a recent client that AAR Partners’ worked with on their agency search.
“It was a very difficult decision and it simply came down to ‘chemistry’ in the end. However, the winning agency had something extra – each presenter didn’t just present their part, each person in the room interacted with each other and with what our group said during the discussion. We wrote notes on boards and explored discussion topics deeper.”
So what does this mean? Dressing the room is engaging. Inspirational interactive discussion is infectious. And the agency’s internal chemistry is inviting.
Pitch with Passion, Lisa
Cracker Barrel
I’ll leave it to you to do some additional homework but here are my thoughts…
The country-style breakfast boss has been making some serious moves.
1. Purchased Florida-favorite Maple Street Biscuit Company in a $36 million deal.
2. The Maple Street buyout comes just months after Cracker Barrel invested up to $140m for a non-controlling stake in Punch Bowl Social, an “eatertainment” chain with strong recent growth.
3. It could be a smart diversification play, given the rise of the experience economy — and gaining a competitive edge is key in the increasingly saturated fast-casual restaurant market.
4. Recently, Cracker Barrel has seen a 0.7% dip in traffic
5. Plans to scrap Holler & Dash, the fast-casual biscuit house brand aimed at millennial diners, Cracker Barrel debuted more than three years ago.
Just remember, don’t stalk. Don’t hound. Don’t send a myriad of messages about yourself. So what do you do?
Build trust. Share category insights. Do some light consumer research. Offer purchase pattern eye-openers. Toss out some trends. Show your expertise and how it’s relevant. Just… don’t… sell!
Good luck and remember to prospect smAARt and pitch with passion!
Content marketing. Content development. Content creation. Content production. Content… Content… CONTENT! It’s the buzz word that we can’t live without.
This article, “What Content Really Engages? The Inside Scoop From 30 Marketers” is packed with little lessons on what content prompts people to engage and trust a brand.
Here’s the list but take a few minutes to read through this brief article: https://contentmarketinginstitute.com/2019/07/content-engages-marketers/
1. Connects emotionally
2. Sparks delight
3. Respects me
4. Speaks to me
5. Is real
6. Provides information
7. Thinks like British public media
8. Can be found easily
9. Avoids mechanization
10. Let’s me get involved
11. Comes from a Relationship
12. Knows I am their Audience
13. Engages back
14. Provides at least one E
15. Follows the best policy
16. Doesn’t trigger an allergic reaction
17. Fills craving for connection
18. Remains committed
19. Doesn’t focus on the brand
20. 11 brands creating engaging content
21. Go forth and foster engagement
Pitch with Passion, Lisa