If the online advertising agencies you use do not offer some of these things, you don’t need them, and you are wasting your time and money. With more of these agencies popping up it is essential to know what to look for and who to trust.
Online advertising is not rocket science
The two biggest players in online advertising are Google and Facebook. Between these two you can launch an effective online advertising campaign that can cover the globe, and reach the vast majority of the over 3 billion internet users out there. Something that both of these companies also offer is free training. They have invested a lot of money in courses that provide step-by-step instruction on how to effectively do online advertising with them.
The problem with advertising is that you are using a system designed by a specific company and you will not learn anything about using their system better than by learning it from them. In a very short time, someone with regular advertising and marketing experience can become an expert in online advertising.
If you are paying an online advertising agency to do your advertising for you just because you don’t know how to do it, you are loosing out big time. By spending a little bit of time on the free training, you can do it yourself. Or you can very easily train up one of your staff members to do the online advertising for you.
An online advertising agency must offer much more than just placing ads on your behalf, for it to even come close, to make sense to outsource the function.
Detailed feedback on how they are earning money for you
The most significant issues with most online advertising agencies are, they are not focused on sales and providing a return on investment for their clients. The norm tends to be that they are over-focused on branding and making things look nice and being different. Increasing your sales, should be a measurable metric they are tracking and be included in all their reports.
The entire exercise of advertising is hoping that it would increase revenue and grow your company. If the marketing or advertising strategy is not built from the ground up to increase sales, it will generate the incorrect outcome.
An excellent monthly report will clearly show the costs that are being incurred and the expected ROI and then how the actual figures are comparing with the goals. A great advertising agency should be paying for themselves.
Tools that give you an advantage
There is an endless amount of stunning tools in the market, that can give you a competitive advantage. Inside metrics for tracking your competitors’ performance. Benchmarking your results against the industry and your competitors and many more.
These fantastic tools can also be very costly, the advantage the online advertising agencies have is that, because they use it for multiple clients, they can sometimes get a discounted price. The benefit for the client is that you gain access to these tools for a lot less, than what you would have paid if you had not used the agency’s services.
The right question is to ask them is, what tools they are using, what kind of access you will get to these and how it will save you money.
The willingness to excluded your competition
Something fundamental to understand about online advertising is that it works on a bidding system. The highest paying bidder’s advertisement gets displayed above someone else’s ad. If you have an advertising agency that advertises for two clients in the same industry for the same service, they are effectively bidding against themselves. The result is that both clients end up paying higher prices for results.
If your advertising agency works a commission fee as most do, the fact that the prices of advertising are going up can also benefit them in the long run. I believe firmly that genuine professional online advertising agencies will only work with one client per industry or niche. It will enable them to strategise in a manner to work against your competition and not benefit them.
Ethics in business is becoming more and more prominent in the modern business world. I believe that it would be unethical and just plain wrong to represent two clients in the same industry, in the online advertising industry.
Same as everyone else.
Growing up in South Africa you become familiar with African curio stalls. These merchants sit, each with their own store next to each other, and there are hundreds of these stores. The problem is they all sell the same thing. It amazes me how they survive. It is like having a shopping mall with all the stores selling the same thing.
Ask your online agency what they offer over their competitors. The industry is such a fast-moving industry, and you want an agency that is on top of the latest and the best. You need an agency that will be better than your competition, so they can help you be better than yours.
The market is flooded with online advertising agencies.
Use the fact that there are so many agencies to your advantage, you can pick and choose, don’t take the first option. Compare them with each other and get an innovative and result-driven agency to carry your brand. When it comes to cost, they need to tell you how their marketing is going to pay for their bill. Make sure they abide by these few things in this article, and you will benefit a lot.
I used to be the CEO for one of the major agencies. I am giving you inside information, I am no longer in the industry and now only do marketing for myself. So this is a genuine independent tip.