With a population of over 327 million, the U.S is indeed a vibrant marketplace. However, the overly competitive business landscape requires unique marketing strategies from any business keen on finding success.
Marketing firms have the resources and the know-how to get a business to stand out from the herd and to connect with the right audience. Unfortunately, not every marketer will be right for you.
Which one do you pick?
Here are six things you should know before hiring a marketing firm.
1. What Your Objectives Are
Figure out the specifics of what you wish to achieve. This could be to increase sign-ups, boost sales, increase lead magnet downloads, or acquire better marketing collateral.
Clearly define the objectives key to your firm’s growth, then identify a firm that has had successes in achieving the same goals for other firms.
Ensure that your objectives are measurable. Figure out what deliverables you would like from the agency after what period of time.
This helps you manage your investment, measure the ROI and hold the marketing company accountable.
2. Determine the Services Offered by a Specific Marketing Firm
Identify the specific services your business requires Vis a vie the services offered by individual marketing companies.
Your objectives will inform this. If your main focus is content marketing, then does the prospective firm offer this service? If it does not, does it work with an affiliate that does?
In which case, do your research and find out how successful the affiliate been with content marketing.
While you want a firm with a healthy array of services, one that seems to do everything is questionable. Unless they have the metrics and success stories to prove otherwise, advance with caution.
3. You Must Research Previous Outcomes
Aside from the services offered, inquire about outcomes and in which markets before engaging any company.
Most marketers will tell you that while the fundamentals might be the same across the boards, the specific strategies differ.
Marketing a retail store goes down much differently than marketing a hospital. The size of the enterprise also informs which strategies will be more impactful.
Look at a firm’s portfolio to identify clients in a business similar to yours and the specific outcomes the marking firm was able to accomplish for them.
Even before you meet up with specific firms, you can look them up online. Their websites should have a ‘portfolio’ or ‘clients’ page. A good marketing agency should have their metrics for your review.
Platforms like Yelp, LinkedIn and Google can also be resourceful in telling you more about a marketer.
4. Tools and Software
This goes back to your objectives.
Evaluate the resources that would be needed to accomplish your goals.
With this in mind, you can gauge different companies in terms of their marketing artillery.
These should be a good mix of implementation, research, social listening, as well as measuring and reporting tools.
Similarly, the tools of trade should be flexible enough to allow scaling when need be.
5. Billing and Costs
When it comes to billing, look for a firm that fits a billing structure that works for your firm. Look at how the actual billing will be done as well.
The most common types of billing are retainer-based and hourly.
Either way, find out how staffers track their hours. The system should be simple, but airtight to ensure you are only billed for man-hours you have actually consumed.
If you are not confident with this system, you can consider a firm that allows you to pay per output. This way, you only focus on the results and not the nitty-gritty of the process.
6. Contractual Matters
After the realization that your business is a good fit with a particular agency, both parties have to consent to a binding contract.
A stellar contract should cement expectations and protect either party as well.
Some of the key highlights of a contract are:
Time
This clearly stipulates the duration of your engagement with a marketing agency. The duration of this varies from company to company. However, if you have gone for one specific service, it is ideal to keep off long term contracts.
Take a case where you pay for paid search for a duration of 12 months. Three months in, your metrics show that this strategy is not working for your business.
What next?
Content Ownership
Have a good understanding of what the terms are on this. Some marketing companies only allow you to use images and content for as long as you are in contract.
Exit Clause
Being stuck with an agency where the professional relationship has run its course can be frustrating, to say the least.
Pay special attention to the separation clause and ensure it has your best interests taken care of.
7. The Pitfalls
Understanding what a good marketing agency should look like is just as important as understanding what a bad one looks like.
Luckily, there are some tell-tale signs of agencies to avoid, such as:
Agencies That Promise Instant Results
Reputable firms that do not use black hat tricks are not able to give overnight results. If this is the assurance you are getting, this should trigger a red flag.
Very Low Cost for Too Much Output
If you receive quotes around the same cost, and one that is a fraction of what seems to be the going rate, there is a problem.
You get what you pay for. This might be cheaper for your firm, but you will more often than not get a lower quality of service and results.
Contract
Be especially wary of agencies that are insistent on binding you to a long term contract.
Most of this will also have you pay to exit. A good firm should be confident enough in its abilities give you the choice of picking short term contracts that you then renew.
In a Nutshell
Approach hiring a marketing firm as you would an in house marketer. Their expertise, previous successes and the output they can deliver should take center stage.
To propel your business to the next level, engage a reputable marketing company and see your enterprise soar new heights.
