Did you know, that while the Ad spends globally is expected to grow at 3.6%, in India it is estimated to grow by 14.3% with about 37% of that budget going towards digital marketing? These figures reflect the growing industrialization, caused by a higher literacy rate, which in turn is alleviating poverty. With this growing Industrialization comes also the growing need for creative Advertising agencies. So, a brand that’s looking to grow by streamlining its communication, whether that be for internal or external customers, such a business should hire an Ad agency to position itself better in the market.
Know what your Creative Ad agency can do
It’s important to understand that advertising doesn’t directly but eventually generates sales (through creating brand equity) & so advertising spends initially is difficult to link ‘directly’ with sales. The first step an Advertising agency undertakes is matching your products/services with the needs of your audience. Once these needs are mapped, the agency then proceeds to engage the audience with a series of communications with the aim of promoting the brand. Now as a business, what you need to determine is the resources the agency has available to accomplish this task. At Eggfirst, our traditional marketing methods such as TV, print advertising, radio, OOH etc. are strengthened further using digital marketing methods. As for Digital marketing, over the last decade our expertise in this area has delivered serious value to quite a few national and international brands.
Determining Your Advertising Budget
Sadly, sometimes ad agencies function as status symbols for brands to throw the name around at parties. The value and energy that they add to the brand is far lesser than the monies they demand. The upside of hiring a big agency is certainly that it does well for the image of the marketing head/CEO. The downsides are many, the biggest of which is the budget. A mid-sized agency allows a brand more room to sit down and discuss what it needs and see the kind of value the agency brings to the table.
Must Intrinsically Reflect Your Brand Values
Every established brand has a set of values, which reflects its persona. Mercedes Benz for instance cites their brand values as Passion, Respect, Integrity, Discipline and Excellence. So, a brand should choose an agency whose values are similar to its own. This is because an agency can only continually produce good creative work when it enjoys working and abiding by those values like those values were their own.
An Agency That Keeps Innovating
Innovation is just another word for customized creative marketing solutions. Every business needs an agency that can innovate and help the business overcome certain pain-points through tailormade communication. Sometimes this innovation can come through precise audience targeting, sometimes it comes via technologies that are used, and sometimes it comes through the one-of-a-kind campaigns agencies run to bring the brand all the attention it can get.
All in all, these are broadly four points a business must consider when hiring an agency, because these points help a business/brand determine productivity, sustainability and compatibility in every prospective Client-Agency relationship.