Last week we attended The Drum’s #BriefEncounters event which gave us insight into how we can stand out as an agency. Our top 5 takeaways from the day were
1. "When it comes to retaining clients, romance is key..." - Matt Lynch, MD at Feed
The key message was generosity is vital when it comes to retaining your clients. This can be achieved a number of ways, here at Pancentric we are proactive in helping our clients innovate their products and processes.
The panel discussed the opportunity to run free inspiration sessions for clients as a way to understand their wider business strategy and identify further opportunities. By taking clients away from their day job provides us with a method of gaining honest feedback and insight, which is a gift to any agency.
Investing time into the relationship means you are more likely to grow with your client as Mark Iremonger (CEO, iCrossing UK) explains “agency time is the most valuable asset we have”.
We all need a new biz strategy Every agency should undertake strategic planning to understand how we can influence key contacts at various touch points. Katie King (Founder of Zoodikers) emphasised the need to build in a social strategy, pushing out thought leadership content and only using outbound activity on the back of the credibility that you’ve already built.
Pitch teams = work teams
Stephen Reed (Creative Director, Specsavers) outlined that it’s the people who make the difference when it comes to picking an agency. He explained “most pitches are the same, they are all impressive. The most important factor therefore is the cultural fit”.
One thing was clear from all the speakers; when we pitch, we must have courage in our conviction and ensure there is real chemistry within the team. Paul Davies (CMO UK, Microsoft) emphasised how important it is for agencies to add value at every opportunity in order to stand out. He wants agencies to tell him something that his team hadn’t yet thought about, but also echoed the message that the people are the key factor in choosing an agency.
“If I see great work but a team with no chemistry I am unlikely to go for it. If the idea isn’t quite there but I can see potential in the people I am much more likely to go with them and work to develop better ideas” Paul, CMO @ Microsoft.
People never remember the disaster; they only remember how you responded to it.
Being professional and providing a seamless service that exceeds client’s expectations will evoke a feeling of trust and reliability.
When it comes to client development, Matt Lynch believes “neglect is a big factor in losing clients; you have to be better every year.” Agencies need to share a common long term goal with each client to ensure you have a long lasting relationship.