Our view is that it’s best to take some measure of risk when selecting a marketing agency.
In ~75% of cases, clients ask that the agencies we longlist for their brief:
- Have prior industry experience
- Be located within an hours’ drive or train ride
But, is it really critical that agencies have relevant sector experience? To illustrate our view…
Imagine a situation where three firms are potential longlist contenders. Which of the three would you choose to shortlist and approach?
- A: The perfect agency on paper, which has worked on a competing account for 3 years, but recently lost the business
- B: An agency with no prior industry experience, but whose creative and planning staff are passionate about the industry and hungry for an opportunity to break into the industry
- C: An agency, which won much recent acclaim for a campaign for a firm in an unrelated industry, but targeting the same audience
Given our agency-side experience and experience at FindGood, we would suggest shortlisting firms B & C. Our feeling is that in most cases, passion and insights into a target audience can be just as valuable as relevant industry experience. In fact, it’s the passion and hunger for the opportunity, which keeps agency-staff engaged and will achieve great value for your business. Agencies who have ‘been there’ with similar brands in some cases come to the party with a biased or embittered view, which proves difficult to surmount.
But, there’s good news. In speaking with our clients everyday, it would seem that this isn’t really the primary concern. In fact, what our clients are most often seeking is cost savings—a shortcut, which will allow them to avoid the 3-6 month investment in onboarding an agency, which is completely green. Given this, we often suggest that the criteria be broadened. Our longlisted agencies should typically have at least one of the following:
- Proven insight into the client firm’s target audience
- A passion for, or understanding of the client firm’s business or industry
- An ability to create cut through creative for brands who have faced similar business challenges
What’s your view? Is prior industry experience a critical pre-requisite for agencies to be successful, or a red herring?
