First, please tell us a little about your business.
We are a business consulting company based on data. We assess clients and agencies on their future growth and transformation.
How has your business changed since the pandemic? Have you held any virtual pitches and if so, what is your assessment of them?
The business has slowed down during the lockdown, but we have remained active in consultancy projects both with agencies and clients, and with some of them we have also developed pitches virtually.
No doubt physical pitches are better than the virtual ones. Mainly because an agency represents the people and capabilities these people have while working on your brand. Virtually you do not get the 100% essence of people. This being said, they have worked well, and we have managed to help build up relationships that we believe will last in the medium and long term.
We have managed to run pitches in the two models: conventional pitches with agency presentations, and also pitch based on a collaborative workshop between agency and brand, and even though they are intense for participants they have worked successfully. We have been working with different technologies and the output is very positive.
What's your view of the state of our industry, both now and in the short-medium term? Where is the opportunity?
The industry is going to suffer again. A new accelerated transformation, many of the classic agencies are sophisticating their approach model to brands where clients are worried not only about branding and the power of the brand and its role in the community but also in conversion and sales whatever the channel that is and especially in digital. Agencies now and more than ever need to have many technical as well as creative capabilities and be able to respond to clients' business needs. The CMO's are key in organizations and responsible for creating demand and delivering results and in the current ecosystem.
Do you have any tips for agencies invited to pitch in these socially distanced times?
I believe they have to have a clear understanding of client needs and see if their capabilities match the demand. If they do, then work hard, be brave in proposals, and bold in recommendations. Structure a clear proposal and rehearse the presentation to be sure everything works, and every attendee has a clear role in the pitch presentation to demonstrate the offer to the client.
What would your advice be to a brand that wants to give its marketing strategy a caffeine shot?
Brands have to analyze their needs in-depth and what they are capable to do (sometimes the scope is split into different departments, and it is better to break silos before you start to implement your strategy than have problems once you start to implement your plan which is frustrating for the client teams and also for your agency partners. Secondly, have clear goals. KPI's set you and your agencies with clear objectives that you want to achieve in each step. Third, select your partners and trust them in the long run. Teams and agencies have to learn from brands, consumers, and categories, and that can't be done in one day. Last but not least, partner with platforms, tech companies, media partners, or any other obvious or not obvious player that can help you amplify your scope and results. Be open and take risks, it is complex to innovate.