Mirage explains pros and cons of event pitching

Mirage Events has explained the pros and cons of putting an event out to pitch, and how to set about choosing the right agency.

In these recessionary times more companies are putting their events out to pitch.

Although for some it is standard business practise to regularly get competitive quotes and look at fresh ideas, for others it is a daunting task.

It is a trend that has pros and cons but if managed correctly can be a healthy process for all concerned.

The advantages: It gives organisations a jolt - forcing them to question why and how they produce their events.

It encourages creativity and the opportunity to do things differently.

It provokes a keen questioning of prices and services.

It opens up new opportunities for production companies and clients alike.

However, all this presumes that the exercise is not purely being done to slash costs and go with the cheapest option, or force suppliers to work to unrealistic budgets.

If this is the case, companies would be better served briefing their existing agency and simply asking them to work to a reduced budget.

When you are considering putting an event out to pitch it is important to remember the following: The event manager will have to invest time and resources in choosing, meeting, briefing and evaluating agencies and their proposals.

You should be clear why you are putting the event out to pitch and what you hope to achieve as a result.

You need to know who in the organisation will be involved in the process, to what extent and at what point.

This should include key stakeholders, procurement, senior management and, if applicable, other event managers.

Many organisations have a tried-and-tested procurement/tender/RFI procedure.

For others, it is a question of starting from scratch.

In this whitepaper we look at a few key points to consider whatever your situation.

Don't ask an agency to pitch just to make up numbers.

It is an irresponsible waste of your time and their time, money and resources.

Don't ask more than three agencies to pitch.

They will be chasing after the same venues, information and suppliers.

You will not have the time to give each agency the attention and information required to get a good proposal back.

It will also make it more difficult for you to focus on and choose from the final pitches.

Don't just send out a brief e-mail and expect agencies to respond.

Don't circulate ideas you have been given by an agency.

Let each show their creativity and understanding by coming up with their own solutions.

Don't decline to meet to discuss the brief.

Don't make a decision based on a written pitch.

You need to have the ideas properly presented and meet the key members of the team you would be working with.

Be prepared to invest sufficient time in the process.

Ideally you should meet with each new agency to hear their credentials and decide if they are a good fit with your company, team and project before short-listing them to the pitch list.

Issue a thorough written brief (which has been approved by stakeholders) and send the same brief to all agencies that are pitching.

A further whitepaper will outline how to write a good brief but as a bare minimum it should include objectives, budget, background information and what you expect to be included in the pitch.

A written brief will also help you focus on your objectives.

Inform all agencies of any changes to the brief.

Allow time for a briefing meeting or conference call.

Provide a contact name, number and e-mail for further queries.

Allow a realistic timeframe.

Let the agencies know who else is pitching.

It helps them decide whether it is worth investing the time, money and resources for the pitch.

Remember that an agency that has worked with you in the past has a distinct advantage.

They will already have a lot of background information and personal contact so it's only fair to ensure the other agencies have a chance to catch up.

Include the major stakeholders in the pitch meeting.

It is a waste of your time and budget for an agency to present a winning pitch only to have it completely changed by stakeholders once in production.

Get references from the winning agency's clients.

Distinguish between value for money rather than just choosing the cheapest option.

Devise set criteria for judging the pitches.

This can range from scores for creativity, meeting your objectives, best use of budget, understanding the brief to more subjective thoughts such as 'could I work with these people?' Inform all parties of the outcome as soon as possible and let the agencies know why they were or were not successful.

Choosing a new agency can be an exciting and/or daunting task.

Following the best practice outlined above can make a big difference between a successful or frustrating outcome.

Investing the time and effort at the beginning will also provide a sound basis for the working relationship to come.

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