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Selecting the Top Advertising Agency for your Business Depends on the Metrics you Measure
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| Guest post by: Darren Woolley |
Article Overview: Many advertisers are looking for the top advertising agency for their brand. But what constitutes a top advertising agency? And how do you go about identifying and selecting the best advertising agency for the brand or organization?
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Free Download - The Important Distinctions Between Relationship, Collaboration and Performance Benchmarking By Darren Woolley |
Selecting the Top Advertising Agency for your Business Depends on the Metrics you Measure
Many advertisers
are looking for the top advertising agency for their brand. But what
constitutes a top advertising agency? And how do you go about identifying and
selecting the best advertising agency for the brand or organization?
The most
obvious answer is that the top agency is the one that enjoys the highest
profile in the industry. But what does this mean? Is it the one that wins the
most advertising awards? Or the one with the most effectiveness awards? Or the
one winning the most business?
The answer is
that the best advertising agency for any advertiser depends on what criteria
you chose. And the choice of criteria depends on the strategic requirements the
brand or organization has of the agency.
This seems
obvious, but it is a consideration that is often overlooked in the rush often
observed in the process of selecting the advertising agency to act like a
panacea to poorly performing advertising and marketing plans.
We have seen
marketers select an agency based on industry reputation and profile alone.
While this may appear like it is a good starting point, it often does not
deliver the promised results because of a misalignment of the agency to the
strategic needs of the advertiser.
The reason is
obvious when you look at how the industry defines a top advertising agency
compared to how you may define a top-performing agency against the strategic
requirements.
When you look
at how agencies build their reputations it is usually through the trade publications
who report on the market place. The stories the trade-press report on are:
business wins and losses, new campaign launches, creative awards, effectiveness
awards and senior appointments.
Of these
topics, the most insightful are the senior appointments as all of the other
topics are usually dependent on the quality and depth of the relationship
between the agency and the advertiser.
The big
mistake some advertisers make is appointing an advertising agency with a
reputation for creating outstanding work, only to be disappointed that their
relationship with the same agency produces less than expected results. The
reason is invariably because of the advertiser and the way they engage with
that agency.
Rather than
selecting agencies based on their reputation, it is more important to carefully
define what attributes would be required by your brand or organization that
would categorise advertising agency performance.
This is more
than simply functional discriminators such as expertise, capabilities, client
experience, size, resources and the like. It is also the more intangible
discriminators like culture, trust, philosophy, attitude and chemistry.
Of course,
the industry will continue to define the top advertising agency against the
accepted criteria that make compelling reading in the trade publications. But
it is more important that at best this is a starting point in the selection of
an agency and not the only criteria in the selection of the right agency.
Referred by: http://www.meetmikeandmidge.com/?t=mmevcarbio
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About the Author: Darren Woolley RSS for Darren's articles - Visit Darren's website Darren Woolley started his working life as a scientist at the Royal Children's Hospital Neuropathology Laboratory in Melbourne, Australia, undertaking research in myopathies, neuropathies, Sudden Infant Death Syndrome and Repetitive Strain Injury. He established a chemical recycling company called Resolve before making the transition to advertising in the mid eighties. During his 15 years as a writer and Creative Director, Darren developed brand and business communication strategies for a broad range of organisations. He was Creative Director at J Walter Thompson and President of the Melbourne Art Directors' Club for two consecutive terms. In 2000, Darren founded TrinityP3, Asia Pacific's leading strategic marketing consulting company with an international network of more than 30 industry professionals helping people to achieve commercial purpose through creative process. What that means is he leverages his extensive knowledge of the marketing and advertising industry, to help advertisers achieve maximum value from their budget by providing cost benchmarks, industry best practice knowledge, training and independent third party advice on agency selection and remuneration, media planning and buying, digital, direct and interactive marketing, TV and print production and public relations. Now a decade on, TrinityP3 is at the leading edge of decision making in the marketing and advertising industry that spent over $200 billion in 2009 and their client base includes more than 50 of the world's top 100 advertisers, with offices in Hong Kong, Singapore, Sydney, Melbourne, London and Wellington. With his background as both scientist and Creative Director, Darren brings a unique sense of process combined with creative purpose to his work. He has regularly been named in Australia's AdNews Power 50: The Most Powerful People in Advertising since 2005 and is a regular industry commentator contributing to numerous trade magazines. Click here to visit Darren's website Increasing Marketing Supplier Performance Through Business Strategy Alignment Is Calling Yourself a Media Auditor Misleading and Deceptive Developing Agency Solutions to Increasingly Complex Marketing Requirements The Importance of Strategic Marketing Consulting in Marketing Vendor Management The Important Distinctions Between Relationship Collaboration and Performance Benchmarking |
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