In Q4 2015 we ran an extensive research on how the new business pitching scene has changed in the past few year. Here is what we learned.
The best Marketing and Advertising Agencies in US close on average 85% of the pitches they participated in 6 times more than the other Agencies
The average Client-Agency Relationship has shrunk from 7.2 to 2.8 years while the average CMO tenure has doubled from 2 to 4 years
A small to medium Agency with 50 to 100 employees on average pitched to 10 new accounts in 2015 alone
The real cost of participating in an RFP for an agency is $15,000, accounting for an average 100-150h of work.
The typical agency sales funnel records a churn rate of 8% between RFI and RFP and 52% between RFP and Final Pitch
The Total cost for the Final Pitch greatly varies but on average costs to the agency $45,000, where Creativity and Strategic planning represent more than half of the total cost
The average closing rate in US is 43%. In order to be profitable you should close 60% of your new business pitches, and if you want to be a rockstar you have to be well above 75%
You can find a summary of all our finding in the following infographic and learn more on our webinar "What top Agency do different in order to systematically win over 75% of their new business pitches"
We decided to pack all the insights weuncovered through this extensive study and the best practices we learned by working with the best agencies in US in a quick Executive Webinar: "What top Agency do different in order to systematically win over 75% of their new business pitches" In just 45 min Federico Treu Cubeyou's CEO will share with you the following:
What THE BEST performing agencies ARE DOING DIFFERENT in order to WIN +75% of the pitches they take on.
A PROVEN 3-Steps system to help you intimately connect with your prospect and set apart from competition.
How to CUT your new business pitching COSTS by 25% and at the same time increase your chances to win the business.
DO YOU WANT TO LEARN HOW TOP AGENCIES SYSTEMATICALLY WIN +75% OF THEIR NEW BUSINESS PITCHES?