7 Tips Search Consultants Have for Agencies' New Business Strategies in 2023

Search consultants sit in a unique place in the industry, getting a bird's eye view of the evolving agency landscape, but also the changing needs of clients. Working well with them is a must for agencies, as search consultants control a steady flow of new business opportunities for agencies large and small. That's why the search consultant panel at Mirren Live, a new business conference for agencies, is a critical tool for agencies to understand how to push their businesses forward with the help of search consultants. This year's panel featured Duffy Humbert, senior partner at SRI; Lisa Colantuono, president at AAR Partners; Jason Velliquette, evp digital at R3; and Tom Browning, president at JLB + Partners, with Adweek's Jameson Fleming moderating. While the panelists didn't see eye-to-eye on every topic, some common ground was reached as the search consultants see a warming pipeline in the second half of 2023. And if agencies want a part of that pipeline, the search consultants advised agencies on how to best stay on their radar, as well as some best practices for participating in their pitches. Based on the panel, Adweek has summarized seven key takeaways and tips for agencies to improve their new business prospects. The pipeline is heating up New biz folks at agencies have told Adweek this year that their Q1s tended to be softer than normal, mainly due to brands cutting back on budgets over economic uncertainties, but that Q2 has seen more action. That's in line with what the consultants largely had to say at Mirren, and it should only pick up as the year goes on. "Our pipeline is full," Humbert said, adding SRI expected to see a softening in Q2 due to fears over the economy, but that hasn't played out yet. Brands Find It Painful to Address Agencies’ Most Pressing Pitching Problems Colantuono added that marketers will likely have a lot of money to spend in the latter half of the year, so "come fourth quarter, we are going to be so crazy busy with reviews and all sorts of opportunities." But agencies should be cautioned: more reviews don't necessarily mean more money available. According to Velliquette, R3's research has shown that there's "a slight increase in the number of pitches but the value of those pitches is a little bit lower than what we've seen in previous years." When to check-in with consultants Search consultants' inboxes are jam packed with updates from agencies, so it's important for agencies to make their communications count by following a few simple rules to cut through the clutter: Browning said JLB wants to know when an agency has added a new capability. "Our job is to represent our clients and find the best resource for their marketing needs," Browning said. So he needs to know an agency's full range of expertise to properly match agencies to clients.Humbert wants communiques once a quarter that are short. "Give us links that make it easy for us to get up to speed about you," Humbert said, adding lengthy emails may get put aside to be read later, but agencies run the risk of consultants never returning to those lengthy messages. If your agency has a unique point of view, especially on an emerging discipline, Villiquette finds it helpful to know that. Awards do (not) matter Our pipeline is full. We've got reviews out to October.—Duffy Humbert, senior partner, SRI Browning doesn't value awards as much as an agency's expertise, citing that awards are most relevant in his eyes to the category an agency won in, but in most cases, an agency is conflicted in that category. Humbert does see value in learning about an agency's awards because it helps her understand the agency's momentum. She also wants to know about an agency's new talent and who an agency beat in reviews. "That may be enough to change how I'm thinking about your agency," Humbert said. Brand or performance marketing? In some cases, procurement will get over-involved, turning a search into a cost exercise. But in cases when the CMO is driving the decision, "they're looking to really understand the core value of you as a creative partner," Villiquette said. Agencies need to be able to articulate their points of differentiation. The search consultants said that the pendulum is swinging back from performance toward agencies who can blend performance with the ability to drive brand affinity. Humbert finds herself writing briefs for clients who want both and said brands are thinking about how to "flatten the funnel" and need agencies who can are equipped to do that. More broadly, clients are looking for simplification of their agency partners. Browning said brands are asking about building the right agency structure, how they can be more efficient and eliminate waste. Humbert is seeing the same things, and she's spending time doing modeling work for a brand's agency structure in advance of reviews. Ultimately, she said, brands are looking for "a stronger better way of integrating work for something that will show up in a very complex ecosystem." Are they gatekeepers? What we don't want to have happen is that the agencies know who you're up against and start to self select out of this process.—Jason Velliquette, evp digital, R3 According to data from a 4A's/ANA's joint study, two-thirds of agencies find it painful when consultants act as gatekeepers and limit access to the key decision-makers for the client. The consultants agreed on stage that brands are hiring them as a proxy to help determine what the most productive forms of communication are between the brand and the competing agencies and that there has to be rules to make it fair and respectful of everyone's time. "I can't let you have a free for all and go straight to the client and I do get my feathers twisted when that happens," Colantuono said, adding that they serve as a bridge, not a barrier. And any agency that feels like it isn't getting what it needs to put its best foot forward needs to speak up. Browning advises agencies to follow his rule when he was agency side, "I always told my team let's act like we've got the business. Should we ask the client this question? Well if we were their agency, wouldn't we be asking it? Let's just see if we can get that insight into their business and we'll put forward a better solution a better idea for them." 9 Marketing Procurement Tips From the ANA Advertising Financial Management Conference Knowing your competition Because this industry is a tight industry, agencies often find out who they are competing against in a review by the end. But that information is most helpful to know early in the process to make decisions around resources and whether to participate. Many small agencies have told Adweek that they can afford to truly go "all-in" on a pitch at most two or three times a year before it becomes a financial burden on an agency and the agency risks burning their smaller staffs out. One of the pieces of information critical to committing to those two or three all-in pitches is who they are competing against. But that information isn't often provided by search consultants, and they explained why. "What we don't want to have happen is that the agencies know who you're up against and start to self select out of this process because you think you're not capable of beating out X, Y and Z competitor," Velliquette said. Colantuono added that she just wants agencies to be themselves and not to worry about who they are competing against. Browning did advise that every agency should get the answer to one question: Ask why you were included in the pitch. "You should know what the client's business situation is, what their goals are for their ideal agency partner, and you should have a conversation with us about how you potentially fit into that," Browning said. Quit the pitch after a chemistry check Agencies invest considerable amount of time and resources into pitches, and sometimes they need to bow out partly through process because they realize it's not a fit and they can't afford to carry on for a piece of business that could do more harm than good if they win. When should they drop out? The consultants say the chem check is the right time for that. A New Forrester Report Urges Brands and Agencies to ‘Ditch the Pitch’ "You're never gonna hurt our feelings," Humbert said, adding "Don't take somebody's spot and drop out right before the finals. That's just not fair to the others that really were hungry for that piece of business." Waiting until the finals will likely mean burnt bridges with both the consultants and especially the client, Colantuono said. "They're not going to trust you any longer."