You see them all the time. Those special ads on television that appeal to your funny bone, connect emotionally, or simply provide a good and solid marketing message that convinces you to go down to your local pizzeria and buy a pepperoni pie.
These ads can have tremendous success for the sponsoring business. Consider the “Old Spice Guy.” These clever ads have helped Old Spice become more than just a present for grandpa during the holidays. They have helped create a huge spike in sales for Old Spice body wash with purchases by both men and women (for their men).
Similarly, the E*Trade baby has brought considerable awareness of how simple it is to trade online. Their humorous ads have tickled the funny bone of many would-be self-traders and consequently have helped E*Trade’s revenues rise as well.
These ads were imagined by advertising agencies. Your small business may not be in the league where you can afford a Widen and Kennedy like Old Spice, Nike, or Coca-Cola. However, an advertising agency could nonetheless be the right choice to help you boost your sales.
How to Determine if You Need an Agency
An advertising agency does more than just work for you. It is a relationship between your business and creative professionals for a common purpose of developing advertising that will ultimately increase your revenue.
Of course, this requires a bit of money, time, effort, and cooperation. Are you ready for that with your business?
Evaluate current marketing strategies – Take a look at your current marketing strategies. Are they working? Do you find that when analyzing the results, your marketing choices are not as effective as you first imagined? Are your sales stagnant or even dropping? Then it may be time to find an agency that can help you reanalyze and find new ways to reach your target customers.
Budget – Can you afford an ad agency? Of course, many ask, can you afford NOT to hire one? However, you must evaluate how much the agency will cost you as part of your marketing budget. Be prepared to pay much more for this line item than if you were doing your advertising in-house. Also consider what the potential ROI would be in hiring an ad agency.
How You Should Select an Ad Agency
If you have determined that an advertising agency is for you, then you should go on to the next step of selecting a good firm. Not all advertising agencies are the same. Most have a specific focus or niche such as retail, financial services, corporate, small business, etc.
Avoid the temptation to be “razzle-dazzled” by an ad agency’s presentation. Remember, they are in the business of persuading and convincing people to buy. You have to keep an open mind as to how effective a specific agency would be for your business, no matter how “spectacular” the presentation is.
Figure a budget that you want to work with for an agency. Don’t hesitate to ask for quotes and try to determine a budget that way. Also, ask around. Find out from other business owners who have used ad agencies how much they have paid and whether the cost was worth it.
Qualities of a Good Ad Agency
Check credentials
Does the potential agency have a long history of advertising success? Who are the founders? Is it a newer agency just starting out and struggling to find any customer who will hire them? Who will be in charge of your account? And are they qualified via education and experience to develop marketing that will be right for your business?
Understanding objectives
A good agency will work with you to learn and understand your objectives. After all, the most effective ads come from the base concept of what you are trying to accomplish.
Ask former clients
There is always wisdom to be gleaned from asking for a list of previous clients and asking their opinion.
Where is the agency?
A small local agency may be more effective than a regional or even national one based in another state. Of course, depending on your goals, an agency with national reach could be just the thing you need to broaden your market base.
There are so many things to consider about hiring an ad agency. It’s a big decision. Be sure you take the time to make an informed decision and choose an agency that will best help you meet your goals.
