Here’s an interesting finding from a recent costing analysis: Digital media agencies typically spend 38 hours and $3,018 per campaign executing the Request for Proposal (RFP) process using modern tools. The “typical” campaign scenario here is a $500k media spend on 10 sites with an average of 10 placements each.
Is the RFP process broken? Times have changed since it was built for the Mad Men Era: budgets are smaller and cycle times are quicker. It seems a new approach is required for the digital age.