I recently conducted a Q & A with Dave Greves, co-founder and leader of Faction Media, a Denver-based marketing and advertising agency. Dave is an award-winning strategist and producer of interactive marketing programs. One of the best points Dave makes is the importance of quantifying results. Too often neither marketers nor publicists want to see the numbers. Yet that old advice about numbers not lying? Well, it’s still true. Here’s part two of my conversation with Dave:
Leslie: Why is it important to invest in marketing opportunities in a down economy?
Dave: Many organizations cut the marketing budget in a knee-jerk fashion and fail to take advantage of market growth when things get rough. The worst thing a marketer can do is to consolidate marketing efforts into traditional vehicles that are perceived to grow market share without directly providing benefits to the client company. With analytical clarity, now is the time to drive increased market share by investing in industries and verticals that are likely to yield financial windfalls in the long-term.
Leslie: What should a client do if they do not feel their marketing organization is performing well?
Dave: Day in and day out your marketing partners service your business with the best of intentions. Most agencies and other service providers are truly invested in their clients business. Leverage this. Turn to your agency partners and directly request new and innovative ideas. Everyone has the tendency to overlook the seemingly obvious solutions to basic business requirements. If you’re engaged with the right marketing provider, you should expect unique concepts that can move your business to increased profitability.
Have a direct conversation with your marketing partner about the company’s commitment to your business. If your marketing partner, given the opportunity, cannot provide the organization with fresh and unique thoughts around your business, you’ve got a serious situation that needs to be addressed. To give everyone the benefit of the doubt, you must specifically articulate that your organization is open to new ideas around the development of the business. You’ll quickly be able to ascertain the level of commitment to your business by the agency’s response.
Contrary to corporate beliefs most engaged marketing partners understand the trials and tribulations association with their clients’ industries well before the clients do. Our recommendation is to reach out to any and all marketing partners to gather their perspectives on the matter prior to making decisions within the corporate vacuum.
Guilty are the agencies that service their clients to the level of their available budgets. However, there is a fine line between inspiration and frustration. Many times agencies see data-based opportunities that a client is incapable of acting upon and the agencies decide to filter the opportunity in lieu of frustrating the client. Corporate side clients should encourage their agencies to deliver unique ideas directly without ambiguity in an attempt to understand every option available to them. Additionally, clients should encourage their agency partners to think outside the box while being compensated under account planning budget allocations.