Where is your marketing budget going? A large number of our new business leads come to us because they have struggled to make it work with their previous agency. The usual complaints are either a lack of communication, customer service or the agency doesn’t have the nuts and bolts digital marketing knowledge required. This is great for us obviously, but after a few years now it’s really frustrating to hear these negative things about other agencies – we all represent our industry and I want our industry to be achieving greatness. The industry average client-agency relationship is 1-2 years, and some can be as short as 3-6 months. Long relationships obviously take time to nurture and grow, and we’re very lucky to have a base of clients who have been with us for 5+ years. This involves pivoting when they pivot, and sometimes identifying and advising when a pivot is required. And sometimes, it’s an educated leap of faith on both sides. Not always perfect, but open communication and transparency are key components, as with any relationship.
A Marketing Week survey found that only 8% of brands reported being “very satisfied” with their agency partners, while over half (52%) were just “fairly happy”. This indicates that a large portion of companies, while possibly seeing some value, aren’t achieving, or perceiving to achieve, exceptional results with their agencies. This could be down to a misalignment of objectives, communications, or performance. How often does a client speak the same language as a creative? Sometimes translating a requirement and communicating the result effectively is all that’s needed to sew up an otherwise brilliant creative process.
I judge the Independent Agencies Awards, and it’s a wonderful opportunity to see the brave and the bold of the agency world stepping outside the box to create something amazing for a client. It IS possible, and not always with a huge budget. As Rory Sutherland says and we also preach, there needs to be a mix of data, creativity and behavioural economics to achieve marketing success. This mix often creates left-field ideas that can capture a need better, and that consider market dynamics with business aspirations. Without this, there can be a danger of campaign repetition and market stagnancy.
With all that in mind, here is a handy list of how marketing agencies can add value to your marketing plan. This should help with determining whether you need an in-house resource or agency as an extension of your team to help you grow and achieve your business objectives:
- Strategic Thinking and Fresh Perspectives:
- New Ideas and Creativity: Agencies bring fresh eyes to your brand and target audience, helping you develop innovative marketing campaigns and strategies that break through the clutter.
- Expertise and Best Practices: They stay up-to-date on the latest marketing trends and technologies, ensuring your campaigns leverage the most effective methods.
- Objective Viewpoint: An agency can provide an unbiased perspective on your marketing goals and challenges, identifying areas for improvement you might miss.
- Execution and Efficiency:
- Specialised Skillsets: Agencies house teams of specialists like copywriters, designers, social media experts, and data analysts, offering a wider range of expertise than you might have in-house.
- Increased Efficiency: They can handle various marketing tasks, freeing up your internal team to focus on core business functions.
- Project Management: Agencies excel at managing complex marketing projects, ensuring tasks stay on schedule and within budget.
- Measurement and Results:
- Data-Driven Approach: Agencies leverage data analytics to track campaign performance, measure ROI (Return On Investment), and identify areas for optimization.
- Reporting and Insights: They provide regular reports that translate data into actionable insights, helping you understand what’s working and what needs adjustment.
- Proven Track Record: Reputable agencies have a history of successful campaigns, giving you confidence in their ability to deliver results.
- Additional Advantages:
- Scalability: Agencies can adapt their resources to meet your specific needs, growing or shrinking alongside your marketing efforts.
- Staying Ahead of the Curve: They constantly research and implement new marketing technologies and trends, ensuring your campaigns remain competitive.
- Partnership and Collaboration: A good agency becomes a trusted partner, working collaboratively with your team to achieve your marketing goals.
Like anything in life, there are unfortunately some duds, but on the whole, the agencies that I’ve had the honour to network and partner with are full of fantastic service-driven people who derive real pleasure from achieving goals for other people. Now onto the next deliverable…
