Selecting a Marketing Services Company – Don’t and Pitfalls

It’s that time of year when budgets are developed and marketers begin the search for the right marketing services company to amplify their team’s capabilities and grow their business. In evaluating a marketing company, there’s a lot to consider.

Be aware of the recession rat-trap: some larger advertising agencies, PR firms and marketing companies make temporary changes and taking smaller accounts that they would never previously consider. (Yet, they are still set up and better suited to handle bigger ones.) Good deals can turn into a disaster and service will suffer if the marketing agency is taking a loss. If you want the best bang for your buck, right/smart-sizing is essential.

Here are some best practices to consider, and pitfalls to watch out for when hiring a marketing company.

Don’t:

- Always assume you need full-service agency. Look for core competencies (what’s handled in-house.) Pay for what you need. Pure-play specialty firms can offer expertise and value.

- Be the small fish in a big pond; it’s easy to get sold on—and then lost in—a big shop. Get an idea of the size, budget and scope of the agency’s average client over the past 18 months.

- Focus on “the hottest." A fabulous campaign done for somebody else doesn't necessarily mean they'll do the same for you. Is your company’s situation, challenges and budget the same? (Of course not.)

- Avoid ‘signature’ looks with creative agencies and canned "cookie-cutter" styles. Your branding should come first (not theirs.) Look for a varied portfolio; range is power.

- Fall in love for all the wrong reasons. Yes, chemistry is important, but it should not be the primary decision driver. Think rationally, and value big ideas that can drive your brand and your business.

- Issue a blanket RFP to a long list. RFPS are usually calls for a disaster and often alienate super stars that may be just the ones you need. Do your due diligence or hire a consultant (like Smarti) to help you develop the right agency short-list.

These tips will help you make the most of your time, maximize your resources and get the best return on your investment.