Flip the Lost Pitch into a Win!

So you lost the pitch…

No one likes to receive the news after two, three, four or more months later that your agency didn’t win the pitch. It’s heartbreaking, frustrating and quite frankly, sometimes downright irritating.

But you didn’t really lose. In the words of Charles De Gaulle, “We may have lost the battle but not the war.”

Let me frame this for you. What is one of the biggest hurdles in prospecting for new business? It’s getting that first meeting.

Jeff Cha of Maserati said it best: “I’m responsible for protecting the brand and agencies that cold call and send cold emails are considered liabilities.”

So… how do you get your foot in the door and build a relationship so you’re considered as a resource rather than a liability? Of course, that’s what new business is all about and there are many strategies and tactics to help accomplish this goal.

But there is one tactic that most agencies forget about and miss out on leveraging after spending hours of time building it up.

That’s right… flip the pitch loss into a win by continuously nourishing the relationship you just built with that prospective client. Although you may have lost that pitch, there is nothing stating that you cannot keep in touch, occasionally share insights or research that may be helpful, invite them to webinars or panels, and keep them on your emailing list.

Typically, you don’t lose a pitch as a finalist. You just didn’t win. I know that sounds like a “line” but there’s a lot of truth behind that line. The final agency selection normally feels like splitting hairs. The final agency selection normally feels like splitting hairs and often it’s a marginal difference.

The point? You have a foundation that you’ve built and need to keep building upon. You have a trusted relationship and you want to keep it alive.

Of course, don’t stalk but simply share valuable information that you now know will be helpful for the brand, especially after going through the learning curve of the pitch process.

It’s not uncommon for a client to switch over to the “runner-up” agency within a couple of years if they feel that they made a wrong choice.

It’s also not uncommon for other project work to pop up or brand extensions that they may consider another agency.

And finally, people aren’t permanently part of those companies. As we all know, marketers move and when they do, they often call a review… And you want to be top of mind.

There you have it. That’s my counsel on this topic and I hope it helps. Look out for more of my new biz quick tips shared exclusively with AAR Agency Growth Program Partners…