How to Create Wins Out of Lost Agency Pitches

Written by Mark Duval | Dec 5, 2024 11:45:00 AM

78% of brands plan to hold agency reviews in the coming year, according to new research from Campaign. While we wish you could win every pitch every time, inevitably there will be losses. And how you handle a lost pitch is critical, because it influences whether the loss will be amplified or offset by future success.

Look, losing a pitch stings. Finding out the brand went with another agency is a gut-punch moment. But every "no" can make you stronger, if you know how to learn from it. Let me walk you through how to turn those painful losses into valuable lessons.

Always Do A Post-Mortem

I know, I know – the last thing you want to do after losing a pitch is relive it. But trust me on this one. Get your team together (maybe bring some coffee and donuts) and have an honest conversation. Ask yourselves:

What did the client tell us about why we didn't win? (And yes, always ask for feedback!)
Were we really solving their actual problems, or just the ones we thought they had?
Did we stand out from the competition, or did we blend into the sea of agency pitches?
How well did we really understand their business?

Let's Talk About Your Presentation Game

You wouldn't believe how many pitches go sideways before anyone even starts talking about the work. I've seen agencies send an army of people to meet one client (talk about intimidating!), or worse, call in from what sounds like Grand Central Station. Here's what to watch out for:

Keep your team size appropriate – you're going for "capable," not "overwhelming"
Remember who you're talking to – your data wizards need to speak human when they're presenting to creative teams
Double-check those templates (nothing says "we don't care" quite like the wrong company name)
Set yourself up for success with a quiet, professional environment for virtual meetings

Are You Talking to the Right People?

Sometimes we get so excited about a potential opportunity that we forget to ask some basic questions. Been there! But let's get real about your qualification process:

Did you actually get in front of the decision-makers, or were you just talking to the gatekeepers?
Did you understand how they make buying decisions?
Was this client really a good fit for your agency?
If procurement was involved, did you speak their language?

Flexibility is Your Friend

Here's something I see all the time: amazing agencies losing pitches because they're too set in their ways. As often as agencies say their people and processes are the best, being too rigid in a pitch process doesn’t convey that. Sometimes you need to bend a little. For example:

Can you work with the client's preferred way of doing things?
Are you willing to adapt without compromising your values?
How do you handle curveballs during the pitch process?
Are you showing up as partners they will enjoy working with?

Getting Your Internal House in Order

Sometimes the problem isn't the pitch – it's what's happening behind the scenes. Let's be honest about your team dynamics:

Is everyone on the same page about what you're presenting?
Are you showing up as one unified team?
Does everyone know their role in the pitch?
If you're working with multiple offices or freelancers, is the coordination smooth?

Making Changes That Stick

Unpacking these questions as a group can provide insights into what went wrong in the aftermath of a loss. Now what? Here's how to turn those insights into real improvements:

Keep Track of Everything

Write it down! Create your own little pitch playbook:

Start a "lessons learned" file (future you will thank you)
Document what works and what doesn't (that means unpacking your wins, too!)
Update those pitch templates (and triple-check them)

Level Up Your Team

Everyone can get better at this stuff:

Practice those presentation skills (maybe not in front of a mirror, but you get the idea)
Get comfortable talking to different types of clients
Role-play those tricky pitch situations (especially the uncomfortable ones)

Fix Your Process

Make it better for next time:

Get pickier about which opportunities you chase (be honest about the ones you’re more likely to win, not just the brands you want to work with)
Tighten up your internal communication
Create different presentation styles for different audiences

Losing is Relative

Even the most respected agencies don't win them all. Your team should know that winning isn’t about who is “best.” It’s about who a group of decision-makers with varied interests and perspectives has determined is the best fit for their immediate needs. Many factors in those decisions are subjective and unknowable. It may be a lot less personal than it feels.

Maybe “losing” isn’t even the best way to think about walking away from a pitch without a new client. If we think of winning and losing as a continuum, being a finalist in a pitch is pretty high up towards the win side of the scale. It's a success in its own right. By participating, your team had an opportunity to connect with the prospective client and make a great impression on them.

Just because a decision wasn’t made in your favor doesn’t mean the decision-makers weren’t impressed with your agency. If you've showed up well and handled the loss with grace, the odds are good that you may have a future opportunity with this brand. So don’t be too quick to dismiss your warm connections after a loss.

Building a Better Future

Use every pitch as an opportunity to learn. Get your team comfortable with talking about what went wrong. Share the lessons. Celebrate your successes. And strive to continually get smarter about how you pursue future business.

Each lost pitch is a chance to be better – but only if you're willing to learn from it. Take these lessons, make them your own, and watch your win rate climb. Remember, today's loss could be teaching you exactly what you need to know to land tomorrow's dream client.

Bonus Tip: Don't Let That Research Go to Waste

Here's something a lot of agencies miss: all that amazing research and the insights you gathered for your lost pitch? It's pure gold for future opportunities. That deep dive into an industry, market trends, or consumer behavior is valuable stuff! Here's how to make the most of it:

Pull out the industry trends you uncovered – they're probably relevant for similar brands
Customize your insights for new prospects
Reach out to competitors of the brand you pitched and ask if they’d like to learn about your insights and how you can help them
Double-check that your findings are still current (things change fast!) and update any data points before reusing them
Consider whether you can create any thought leadership content out of your research
Explore opportunities to partner with brand-side connections on a co-authored article in a trade publication or a panel discussion that might help you reach more relevant prospects

Next Steps

Use these tips to tee your agency up for greater success in the coming year! The next time you lose a pitch, come back to this guide. Take what works for you, adapt what doesn't, and keep pushing forward. Because the only real failure is not learning from your mistakes.

If you have other thoughts or suggestions about how to approach lost pitches, please share them in the comments!