Be a Good Buyer: Five things to disclose in a SEM sales pitch

In SEM (or other digital marketing) agency pitches, many buyers keep information close to the vest. Information is an important asset when negotiating a deal and buyers want to be in a position of strength during negotiations. However, there are some important pieces of information that can ensure that a sales meeting and pitch process is productive and efficient. Disclosing this information will ensure that the agency provides the right information for evaluation and constructs the best possible deal for the buyer.

What is the current stage of the buy process? Disclosing the current stage of the buy process enables the agency to tailor the information they provide to the buyer’s needs at the time. Receiving a full-blown proposal during the information gathering stage is overkill, because at this stage, the buyer might be interested in reading whitepapers, case studies and other industry research published by the agency. On the other hand, receiving research instead of a proposal when the buyer is at the decision making stage is a clear miss for both buyer and agency.

What is the current solution in place? Whether the buyer uses consultants, in-house employees, another agency or nothing, the agency should know the details of the current situation. With this information, the agency can provide case studies and references that most closely match the buyers existing situation so that the buyer will be armed with most relevant information about the agency’s track record.

What parameters will drive the decision? Communicating needs and requirements to the agency ensures that the buyer’s decision making process is objective and that the agency has a fair opportunity to demonstrate its historical track record in meeting the requirements. Distinguishing between need to have and nice to have requirements is also important because it lets the agency know the minimal requirements for contention (need to haves) and how to differentiate from the pack (nice to haves).

Who will be involved in the decision making? No matter who is making the final decision, it is important to disclose the other people who will be involved in the evaluation process whether it is the finance department, executive staff or others. The information the finance department needs will be different than what the CEO or VP of Marketing need and outlining these information requirements will help the agency to deliver the most relevant information.

When is the buyer making a decision? All agencies are glad for the opportunity to share its capabilities, case studies and research with interested marketers. The exception to this rule is if the buyer does not correctly disclose the decision making deadline. In this case, the agency may put in more work than necessary to design materials to try to close the business and they will likely tire out the buyer with followup calls and meeting requests. Setting expectations upfront for whether the decision is happening imminently, never or somewhere in between helps the agency share the right information with the buyer and to ensure that its communications are timely and productive for the buyer.

If you would like additional information on this topic or to meet with an advisor to discuss your upcoming agency search, please contact a Thrivepoint Advisor.

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