Adweek – Data confirms that jarring reality. Just 15% of agency incumbents retained business amid reviews in 2021, according to marketing consultancy R3. And the stakes were growing, with last year seeing 53.5% more new business reviews than in 2020.
Despite the hurdles, defending is more common than not. Faced with losing both the account and their investment in a review, an incumbent must weigh a number of factors when deciding whether to participate. Agency leaders and new business consultants say agency execs need to understand why they’re defending in the first place, and then come to grips with their odds of success.
When it comes to holding companies, there are different considerations.
“You’re more likely to see independent agencies pull out than holding company agencies because they’ve got more flexibility,” said Greg Paull, co-founder and principal at R3.
