Choosing the right marketing agency partner for your business is an extremely important decision. While the benefits should far outweigh the costs of hiring an agency, doing your due diligence on researching marketing agencies is key to a long-term growing relationship with a marketing partner.
When deciding whether to hire an agency, here are a few of the things to look for.
Ad spend vs. management fee
Review what part of your budget is being spent on ads versus what is going to the agency. You want a marketing agency that can grow with you. For running ads, a standard rate to charge is between 10%-30% depending on the budget.
Detailed reporting
Don’t leave it up to chance how your marketing campaigns are performing. Your agency should be providing you detailed marketing reporting on at least a monthly basis. Data from each month’s advertising performance should be used to improve the campaign.
Multi-channel marketing approach
Before spending your ad dollars, determine who your audience is and where they are spending their time online. Then invest in those marketing channels. Putting all your eggs in one basket isn’t just a cliche saying, it’s trite in running your marketing campaigns as well.
Past ad campaign success
When evaluating a marketing agency, look for past marketing campaign success and a process to help your campaigns succeed. Nothing predicts future success like past performance. Marketing is no different in this regard.
Business reviews and recommendations
Ask for a reference from an advertising agency you’re looking to hire and actually call them. Of course, checking review websites like Yelp or Google My Business is helpful too. Read through their reviews to help give you an idea of who you are going to be working with.
Marketing contract review
While you want a long-term relationship with your marketing partner, and I don’t recommend running your campaign for a month or two and then stopping, you'll be wasting your money if you do. I do recommend having an out of the contract after 6 months if things are moving in the right direction. Review the contract and make sure you have a marketing partner who believes in their work so much they don’t need to tie you down to a contract to keep you as a customer. Rather, after seeing the results, you’ll want to stay as a customer.
Thinking and researching the right marketing firm is so important to your business. Working with an advertising agency should be a long-term, mutually beneficial move for your business. Contracting out to a marketing partner should save you time, money, and allow you to scale and grow your business. Let’s talk about ways L2 Digital Marketing can serve your business.
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