Agency Options
Full-service, multi-service, or all-in-one agencies sound exactly like what anyone would want from a partnership: a one-stop shop where all your marketing needs can be handled in one click, one call, or one email contact. But are you getting the best of the services you need? Or are you trading what appears to be quality for efficiency?
Another factor to consider is the agency's independence. Independent agencies are typically smaller organizations not part of a larger holding company. On the other hand, agencies that are part of a holding company offer a wide range of advertising and marketing services.
Holding companies are business entities that own and control the ownership interests of these agencies. An independent agency is often small to midsize and can be a single-service or multi-service model.
We will focus on marketing agencies offering services such as web design and development, brand development, SEO and Analytics, creative design, media buying, PR, social, email marketing, paid search, events, and sponsorship.
Multi-Service Agencies
With multi-service agencies, a brand’s marketer has one point of contact who communicates with leaders in each service department within their agency. While this may seem time-saving, it also requires clear communication with the agency account representative to ensure they share your requests, goals, and feedback correctly.
With a multi-service partner, new project requests that fall within their capabilities can seamlessly be integrated into services and marketing rather than figuring out which agency of record should be tasked.
While multi-service agencies offer the convenience of one invoice and payment, separate projects may not be itemized, making budget management challenging. Additionally, although these agencies may provide many services, they often have one area of true expertise, with other departments built out over time.
Single-Service Agencies
Specialty agency employees often have deep experience, sometimes starting at larger agencies, and focus solely on their service. They eat, sleep, and breathe that marketing skill. All-in-one-service agencies don’t always have the same focus and level of knowledge with their staff in every area of service they offer.
With single-service agencies, you will receive a more itemized invoice for clarity, though you will receive one from each agency you manage.
Specialty agencies will provide results and reporting for their services, and the brand’s marketer will then need to compile all related reporting from their individual agencies. With one multi-service agency, you should receive a complete report showing all the results for the work they are managing and how those service line results integrate.
When you begin to outgrow a partner in a specific area or are not happy with the team you’ve been given, it is easier to find a replacement agency partner just for that space rather than removing one arm of the service work or having to replace the entire full-service agency because you don’t want to work with a particular team anymore.
Your account rep works as part of the larger team and is immersed in their single-service category. They can speak to the process, what to expect, and the results at a more highly educated level than a general account rep for a multi-service agency, who would have to have some level of expertise in all areas of marketing and communicate back to you what their teams have provided.
Making Your Decision
Before you hire, you need to ensure that your independent, single-service agency works well with others, especially where there may be overlapping service capabilities.
They should be clear about their strengths and weaknesses. If they are transparent about these elements of their business, you may have found a trustworthy partner. Talk to current and past clients to ensure they are collaborative partners.
It’s true that managing multiple representatives, calls, and report dashboards and tying them together yourself is more work with individual agency partners. And it may be more costly to go with multiple agencies rather than all in one. However, the investment should pay off in terms of the quality of services, attention, and results.
You should have at least a quarterly call with all your agency reps together, no matter what type of agency you choose. This download should cover original quarterly goals, project launched results, corrections, and recommendations for the future, as well as expectations for the next quarter. That quarterly connection with all involved can paint a clear picture of your brand’s objectives, and often, great ideas and inspiration from those you don’t usually hear from can come to light.
No matter what type of agency you decide to work with, they should be doing more than just the requested work. They should be proactive, bringing new ideas, project optimizations, and future insights to the conversation.
Sources:
https://digiday.com/media-buying/holding-companies-vs-independent-agencies-who-beat-who-in-2023
https://adage.com/article/agency-news/why-future-favors-independent-and-small-ad-agencies/2422641
https://digiday.com/sponsored/how-brands-are-finding-success-with-independent-agencies
Main Image Source: pexels-google-deepmind-17485657%20Digital%20ecosphere.jpg
