A significant portion of a marketing budget is spent with agencies. Yet, often these agencies do not contribute to your revenue growth. This is the result of poor agency management. Be sure to hold every agency accountable to a business objective and a set of key performance indicators and multiply the capabilities of your team.
I Think We Should See Other People
Every relationship, personal or professional, has it’s ups and downs. The hard question to answer is when is it time to call it quits with your agency partnership?
Staying in a bad relationship with your agency will cost you more than clients, it could be negatively affecting the perception of your brand’s identity.
If those uneasy feelings are starting to creep in, it’s time to evaluate the direction of your agency relationship.
Leverage our Agency Management Workbook to generate better results from your agencies, to receive help in holding every agency accountable to a business objective and a set of key performance indicators, and to multiply the capabilities of your team.
Here are five criteria to grade your agency on:
- Capabilities: Your Needs Have Changed
For example, if you are looking to expand into a new arena of marketing, your current agency may not have the capabilities required to fulfill all of your creative needs as they once could. It is likely that there is an agency out there that fits the bill and wouldn’t require juggling multiple agencies when it could be a solo act.
- Quality of Work: The Quality of Work has Declined or Grown Stale
When a creative relationship has reached a certain level of comfort, the quality and excitement in the work can grow stale or even experience a drop in quality. When the design has grown routine or predictable, there is no greater sign of settling for good instead of striving for great.
Creative work must be thought provoking and act as an agent of change. Don’t let your agency put on the sweatpants equivalent level of effort when you deserve black tie.
- Creative Alignment: We’re Just on Two Different Paths
When misalignment is left unattended, it will inevitably end in catastrophic fashion. When the message being told does not align to the persona being targeted, then you are not getting the most of your already insufficient budget. It is time to realign, or reel in the line and cast in a different creative pond.
- Timeliness: Blow the Whistle on a Delay of Game
Deadlines are never set without a purposeful date or event in mind. The problem with a missed deadline on your project is that it’s often times you that is left picking up the pieces and deal with the consequences.
- Customer Experience: Is the Hassle Outweighing the Hustle
Let’s visit the other end of the quality spectrum. Your agency could be producing passionate, ground breaking, and high-quality work, but if it feels like pulling teeth to get there, it can leave quite the bad taste in your mouth.
When it comes to Customer Experience, the experience of providing a solution to the customer should be as remarkable as the outcome desired from the solution itself.
Know When to Fold ‘Em
Don’t let a harmful relationship with your creative agency poison the well of your profits. Ensure that you are getting the most out of your marketing budget by regularly evaluating your creative agency as well as your creative needs. Generate better results from your creative agencies.
To assist with your internal and external evaluations, download the Agency Management Workbook.
For additional help evaluating your agency management and improving upon your marketing strategy, consider these other insights:
- 5 Ways to Manage Your Advertising Agency Effectively
- How Top CMOs Quantify Marketing Investment with Revenue Attribution
- Multi-touch Revenue Attribution: Quantify Marketing’s Impact
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