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Advertising works — when it's done right. Done wrong, it not only costs you a bundle, but can actually undermine the credibility of your firm.
However, finding the ad agency that will put your muscle in your marketing can be a daunting task. So PROFIT-X asked two industry experts: What should firms consider when hiring an ad agency?
Determine your needs — and your budget
Before looking at different agencies, you should have a clear definition of your needs, suggests Andrew Macaulay, a founding partner of Toronto-based ad agency Zig, whose clients include Holt Renfrew and Lavalife.
For example, are you set on a television commercial? Newspaper advertisement? Perhaps you're looking for someone who can optimize your presence at tradeshows.
If you are unclear about your needs, then you should at least have a sense of "how serious your commitment is," says York University's Alan Middleton, professor of marketing at the Schulich School of Business in Toronto. Translation: know how much money you're willing to spend.
Search high and low
How will you find an agency? There are several avenues to explore. Trade associations such as the Institute of Communications and Advertising (ICA) and trade publications such as Marketing or Strategy should be your first stop. The ICA runs a website at www.agencysearch.ca that offers information about advertising firms, including their size, accounts, areas of strength and history. Marketing (www.marketingmag.ca) runs an annual issue on the top advertising agencies of the year and regularly carries notices from freelancers looking for work.
Of course, word of mouth often works best: ask friends and colleagues about their experiences with various agencies.
Big vs. small, old vs. new: what to do?
Should you go with a well-known, national ad agency, or a local, niche firm? Consider the pros and cons. A big firm usually has more than one core strength (such as creative abilities, marketing skills and strategizing) and can produce a wide array of advertising (such as TV, radio, outdoor, subway, newspaper and magazine and online). As a client of a huge firm, however, you run the risk of being treated "as an afterthought," warns Macaulay. Small firms are generally better at offering up-close-and-personal treatment, but have fewer core strengths.
New firms generally have "more enthusiasm and nimbleness" than older firms, continues Macaulay, while older firms have "depth and track record." Still not sure? Talk to fellow entrepreneurs about what has worked for their firms.
Narrow it down
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