Marketing Agency Business Development – Add Analytics to Your Toolkit
It is no secret that running an ad or marketing agency is fraught with countless obstacles and challenges. One of the most challenging things for any business to do is simply to acquire new clients. This is particularly true for marketing and ad agencies, where something as delicate as a reputation can make or break your ability to increase your clientele base.
The advertising world is an extremely competitive place. It can be very difficult for creative and media buying agencies to stand out and differentiate themselves from competing agencies that are striving to win the same business. Sometimes it is the minute details that are the deciding factor in terms of which agency a client chooses. That is exactly why it is so important to offer the most comprehensive service possible. One way to do so is to add analytics to your arsenal of skills.
Successful ad agencies these days need to be part creative visionary, part marketing scientist. It takes a willingness to study and analyze market data in order to create the most effective campaigns that will propel even the best creative to new heights. In fact, only by starting with an analysis of your client’s customer data can you create advertisements that will be the most effective use of your marketing budget.
Without first using analytics to define your target markets, any advertising or marketing campaign is likely to underachieve its maximum potential. Without a solid analytics platform upon which to build a new campaign, it is impossible to know who the campaign’s ideal target customers are and what they will most likely respond to. You need to be able to gather this information and understand it in order to predict whether any given campaign, tagline or piece of copy will drive desirable customer behavior.
Analytics has another important benefit: it allows the marketer to benchmark each new campaign. Like a scientist, marketers must perform experiments and be extremely diligent about recording data. Without keeping track of key business metrics, a business has no way of knowing if their marketing campaigns are effective, or if they are falling flat.
Analytics is the new differentiator that sets the great marketing and ad agencies apart from the rest. Analytic tools have become more accessible, and the sophistication of those tools continues to grow exponentially. This is an area of knowledge that even fledgling bloggers are taking advantage of to track and measure their success, since it helps them to see where they need to focus their attention in order to achieve the best results.
The fact is that nobody is perfect; even the top ad agencies and marketing businesses in the country have their strengths and weaknesses. For example, one agency might be known for video production, another has media-buying prowess, and yet another might specialize in excellent copywriting skills.
No matter what your current area of specialty, the logical thing to do is to partner with a marketing analytics firms. This way, the agency bolsters its current skill sets with strong analytics expertise, without having to develop the necessary tools and know-how in-house.
Partner with an analytics marketing firm to give your agency that competitive edge, and offer your clients the complete package. You can choose to “white label” the analytics methodology – selling their services under your agency’s name. You can offer analytics as an additional offering to bolster your capabilities to win new business, or you can even resell it to your existing clients. This will ensure that yours is a well-rounded agency, with the best customer satisfaction and a stellar reputation, putting you further out ahead of the competition.
Contact MindEcology today to get started.