The "Cost of the Pitch" research initially examined the costs of client-agency relationships, revealing a significant focus on value over cost in the long term. While cost is initially crucial, value becomes predominant over time. However, only 10% of agencies and 5% of clients have a formal value definition, leading to subjective assessments and complicating the measurement of value in the industry.
Key findings emphasise that trust, transparency, and mutual understanding are essential for successful long-term relationships. Despite recognising value’s importance, many clients and agencies lack standardised methods to define or measure it. This gap highlights the need for collaborative development of value assessment tools to align expectations and contributions effectively.
The study advocates for agencies to consistently demonstrate long-term benefits beyond cost. Clients should evaluate potential partners on their ability to deliver sustained value. Adopting a Client-Agency Relationship Management program is recommended to ensure alignment and growth in partnerships.