In any pitch process for marketing services providers, being digital, media, creative, direct marketing or what ever, there are four essential stages. Often marketers will get one, two of three of these but rarely if ever, do they get all of them.
1. The list
2. The chemistry & capabilities
3. The remuneration
4. The contract
Here are tips for each step:
Determining who you should invite to tender or pitch starts with having a very clear brief of what you want and need and just as importantly what you don’t want or need. It is too easy for the whole process to go off the rails as the objectives of the review get lost in the process.
Next, developing the actual list is difficult, with so little detailed information publicly available. Look to word of mouth from colleagues and peers, then trade press and directories. But be careful of recommendations from other suppliers as these can be tainted by self interest.
TrinityP3 has supplier search and selection briefing templates and an extensive database of marketing services suppliers across all marketing communications categories.
The chemistry & capabilities
If you are buying a relationship, then make sure you allow as much time as possible for a relationship to develop. Working with the suppliers and meeting regularly is an ideal way to see how you are aligned.
The biggest mistake here is not planning the process to ensure all stakeholders are available and that the timeline plan can be delivered. Delays and postponements and restarts are bad process and can damage professional reputations.
TrinityP3 has established an tested processes and methodologies for planning and managing the chemistry and capability process to ensure due diligence and governance.
Most good remuneration models are based on the scope of work to be delivered, and yet many go into the pitch process with no clear and detailed scope of work expectation. Therefore the resulting remuneration model is either flawed or expensive.
Clear scope of work volumes and complexity, resource plans, existing arrangements beyond the bottom line cost are all essential in establishing a cost effective, transparent and sustainable remuneration.
TrinityP3 has remuneration methodologies including defining scope of work, resource plans and cost benchmarks for all markets and all marketing communications activities.
The one that is most often overlooked, unless managed by procurement. Having a detailed, comprehensive and functional contract that clearly outlines roles, responsibilities, expectations and terms is essential to avoid misunderstandings and poor performance down the track.
TrinityP3 recommends you use legal advisers for all commercial contracts, however we can provide industry knowledge input to make these contract agreements more practical in application.