Often marketing agencies can lose sight of their clients really want from them. Ruler Analytics, call tracking software providers who work closely with marketing agencies, analyses what client really want.
“The future of ad agencies has never been more in doubt.”
That was the headline statement of an article published recently by Business Insider.
This article focuses on leading travel company Booking.com dispensing with its advertising agency with a view to moving it in-house.
Mike Shields, writer of the BI article, determines that Booking.com’s conclusion is a result of the halt in growth of the advertising agency, pointing to a traditional approach that has deteriorated.
Clients can obtain more value by opting for in-house hiring or by acquiring small firms and independent contractors to carry out short-term roles.
Shields highlights a report from the Association of National Advertisers that lead to a decline in trust for agencies.
As a consequence of the report, several businesses developed a dubious attitude towards agency reports on ad spending and revenue totals.
The only way for marketing and ad agencies to master these new trends is to evolve with them.
The bedrock of evolution in these fields lies within what clients really expect from agencies.
In order for agencies to justify their value, sweep aside trust matters, and tackle declining growth, they must provide their clients with what they really want:
- Focused Expertise
Giant, bloated multi-industry agencies are suffering – businesses are now opting for consultant companies, narrower agencies and independent contractors/freelancers when specific expertise is required.
- Value
When you have a client asking for something, just completing the request doesn’t suffice in today’s world.
Truly understand what the client is after. What the client needs is the resolution to a business problem.
A good agency will take time to extract that underlying problem and produce solutions to address it.
- Simplicity
What clients seek is that sense of simplicity. In marketing terms, that equates to a visible contact and sharp response times.
Ensure clients have a visible, primary point of communication and mark out clear expectations for response times.
- Instil Trust
Clients would appreciate receiving a detailed breakdown of what changed, why, and the results that came out in the wash. By also providing access to the analytics platform being used, they can also confirm the accuracy of the reports themselves.
Transparency and honesty can only result in a trustworthy relationship.
- Data is king
Data provides the proof in the pudding – the value that your agency is delivering, as well as black and white depictions of campaign success or failure.
Data continues to be the bedrock of client happiness and with happiness comes retention.
Applying The Strategies
Clients often confuse what they desire with what they need when it comes to services from marketing agencies.
They may believe they want your agency to just go ahead with whatever it is they tell you.
What they really need, however, is your agency to exercise its expertise and extract value from tried and tested solutions to their business predicaments.
They need to trust and justify that value and greater return on investment is being provided.
The whole process needs to be straightforward and convenient whilst not being a drain on the pockets.
The most important aspect of this is data: it provides the instruments to drill down into that niche, establish the value you provide and instil trust into the relationship with clients.
Agency model uncertainty can be neutralised by utilising what has now become the foundation and epicentre of modern business.