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The relationship between an advertiser and their agency of record is unique. Unlike other suppliers that support a business, agencies are looked at as strategic partners, where both parties work closely together and are incentivized, based on mutually agreed upon business objectives. To ensure this partnership remains healthy and strong, advertisers must implement the appropriate measures to properly evaluate their agency partner(s) on a regular basis. There are varying approaches that can be taken to managing agency relationships. These can differ based on where you are in the agency lifecycle, the importance of an agency to a particular brand or the organization as a whole, and the services provided by the agency. Performing an agency search can seem like a daunting task. There is no shortage of agencies in the marketplace – some are significantly larger than others, some have specialized core competencies, and others tailor their offering to a particular industry or sector. Whether an agency is being evaluated yearly or the search for a new agency is underway, a core set of criteria should typically be used to evaluate whether or not an agency is a good fit for your brand. Below is a list of the top 10 criteria that should be used when searching for a new agency partner or evaluating a current relationship. Talent and Functional Expertise. There will be a variety of people from different departments within the agency working on your marketing program. Having the right people involved is essential for your brand campaign’s success. Ask for the names and backgrounds of those individuals who will be dedicated to your account so that you have an understanding of the levels of experience and overall capabilities of the individuals involved. Most importantly, make sure the core team is present for the agency’s onsite pitch presentation so that you can meet each team member in person and gain a sense of the chemistry that exists between the brand team and the agency. Ask yourself the following questions: What is the range of services that can be delivered by the brand agency team? Can they ramp up quickly in order to meet the launch timeline? Account Management. Often this criterion is considered a subset of the previous, but should stand alone as the account management function is often considered a vital role in keeping the agency relationship on the right track. One of the most essential components of a successful marketing campaign is proper communication between the brand team and the agency. What your organization has in mind for an assignment may be completely different from the agency’s vision; therefore, having open communication between you and your agency is critical to developing the right program. If there are ongoing issues that need to be addressed, you should be able to rely on the agency’s account management team to navigate the right channels in order to properly address these issues in a timely manner. Industry/Category Expertise. When searching for an agency, look for one that has experience or core competencies in your field. An agency who has knowledge about your industry will not have to spend time acclimating itself with the needs and concerns associated with your area of business. In addition, the agency will already have experience working with clients similar to your company and understand the requirements of a successful marketing strategy for your product or campaign. Keep in mind that conflicts of interest may limit your options when it comes to finding strong category expertise. This is why it is important to look at the backgrounds of the team members being proposed for the account in addition to the agency’s background. An agency’s current clients may also provide some leniency in terms of allowing their agency to engage new prospects that may be viewed as competitors. Overall, be on the lookout for those agencies that specialize in a particular industry but are able to differentiate your brand from the other clients they support. Does the agency have retail experience? Are they focused on the business to business sector? Do they understand the regulations that align with your industry?
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