If you’re keen to give your business more prominence, you have plenty of options available. You’ll need to decide if you should you handle your advertising in-house or bring in the experts. Here, we look at when you might need an advertising agency and how to choose the right approach for your business.
Understand your advertising needs
You can start by reviewing your current marketing efforts to understand your advertising needs. What's working well? Where are the gaps? Consider your business goals and who you're trying to reach. Your Business Mentor can be a wise sounding board to discuss these things with.
Types of advertising to consider
Traditional print media such as newspapers and magazines remain an important advertising channel for many. However, the options are almost endless and include social media such as Facebook and Instagram, pay-per-click (PPC) advertising, television and radio spots, and out-of-home advertising such as billboards and street posters.
Each type of advertising has its strengths, and the right mix depends on your target customers and business goals. Traditional media outlets will share profiles of their audiences so you can check the fit with your market. Alternatively, online advertising allows you to target ads to suit your objectives.
Keeping it in house can make sense
Sometimes, keeping your advertising efforts in-house makes sense. This might be the case if you have a small, local target market, a limited budget, team members with relevant skills, or if you need to keep tight control over your brand message.
For instance, if you run a small café, you might be able to handle your own social media advertising and local print ads without needing an agency. Media salespeople can offer valuable guidance.
Online courses are plentiful and can help you learn about digital advertising. However, because it’s so easy to get started, the challenge is to stand out from the crowd. Additionally, rules change rapidly. Ads can be taken down for music choice, poorly chosen wording and more. Missteps my inadvertently jeopardise your wider online presence.
Advertising agency are sometimes the smart choice
Sometimes, investing in a professional agency can be the best way forward. Here are some signs you should consider finding an agency.
- You need to scale up quickly
- You want to stay ahead of trends and technology
- You lack in-house expertise
- Your current efforts aren't getting results
Working with an agency connects you with specialised skills and a fresh perspective on your brand. It also means you can on the rest of your business while the experts handle your advertising.
Agencies can often achieve better results than in-house teams, especially for complex campaigns. They stay up-to-date with the latest trends and technologies, which can be a big plus in the fast-moving world of advertising.
A contractor might also be the answer
Another option is a freelancer. In today’s environment, many skilled and experienced people are working for themselves for flexibility and more control over what they work on. Without the overheads of a whole agency team, you can expect lower prices, and you may find you may find your business is a bigger priority as a client.
Look for fit in your advertising partner
Defining your goals and budget before you research potential partners will make the job simpler. Do your homework by asking around, checking out the portfolios, case studies, and references of potential partners.
Cultural fit and industry knowledge is important and you’re the best person to judge this. You want a partner who understands your business and shares your values. It’s worth taking your time to get it right.
Ensure the pricing works for your budget
Advertising agencies in New Zealand use a range of pricing models and cost can vary widely based on the agency and the scope of work. Fees are most often based on hourly rates, project-specific, or monthly retainers.
You’ll want to crunch the numbers when deciding whether to hire an agency or keep your marketing in-house. For example, would you still get a profitable return if you retain or increase your ad spend, while also including a potential $2,000 for agency fees?
Your Business Mentor can help you understand these pricing structures and teach you how to negotiate effectively with potential agencies.
Partner for success
To get the most out of your agency relationship, set clear expectations and goals from the start. Make sure you have a regular time to check in and collaborate. Be prepared to ask questions and adjust strategies to tune your advertising for the results you want.
Whether you decide to work with an agency, hire a freelancer, or keep things in-house, make sure your choice fits with your business objectives and resources. And above all, don't make the most of your Business Mentor's experience. They’re there for you!
