As your business grows, outsourcing tasks that you once managed allows you to focus on other priorities. Many business owners find hiring a marketing agency a cost-effective decision. These agencies are well-versed in creating marketing strategies to reach your target market. Here are some things to consider as you interview agencies.
Identify Your Target Market
A prospective agency will first ask you to identify your target market. This market is the foundation of your marketing plan. They also need to see your existing marketing materials and know how you plan to use these in the future. Many companies want to expand into additional markets and the agency can assist you with this growth strategy.
Ask the Right Questions
While the marketing agency is asking questions, you should be asking questions at the same time. This allows you to evaluate your comfort level with the company. Ask about potential conflicts with existing clients. You also need to know their experience in your industry and understand the extent of the services that they offer.
Determine Your Available Budget
Make sure that your budget for marketing services aligns with the services that the agency offers. Working with a high-profile agency may give a faster turnaround but can be more costly. Hiring a newer firm may bring new enthusiasm to your product. Newer firms can offer lower rates to acquire your business and to help propel their growth.
See Their Vision
Once you narrow your selections down to the leading agencies, ask for a pitch. The agency provides a sample ad campaign based on your needs. This gives you specific materials that the company will incorporate into your marketing plan. You can also see the quality of their service. Most importantly, you ensure that you and your staff work seamlessly with the agency.
Negotiate Your Contract
It is critical to understand all agency fees. Some people prefer performance-based fees, as that incents the agency to work smarter for your business. Others prefer flat rates. Most often, you will pay a combination of the two. Either way, establishing maximum fees will help you maintain your budget. You may also negotiate terms such as non-compete standards or termination requirements.
Once you have vetted the appropriate agency for your business, integrate the marketing agency into your team. It is important to continue evaluating and improving your product line to increase your customer base. By doing this, you will see rapid business growth.