Are agencies missing a trick when it comes to growing their business?


 

The challenge of the modern agency

For the modern media agency, it can often feel like you aren’t sure how to stay afloat in the stormy seas of the current advertising landscape. Research we conducted this year in conjunction with Sapio Research suggests that brands have high expectations of their agency partners in 2018, making the industry highly competitive. The most important qualities in an agency cited by brands were creativity, innovation, and strategic advice. But 32% also see budget management as key for their agency over the next five years.

On top of this, 31% of marketing professionals we interviewed said a key role of the agency is identifying and onboarding the right technology partners. It’s no wonder brands want to outsource this considering the increasing complexity of technology and channels available—vendor management can often feel like a full-time role.

This can feel contradictory when the bottom line is so important, but the pressure is also on to provide a more strategic service, as well as managing tech vendors—meaning agencies are being pulled in many different directions.

Increase efficiency to get ahead of the competition

It often feels like your team is stretched. I’ve never met a marketing professional—brand or agency side—who didn’t feel like they could use an extra team member or some additional resource to help grow their business. According to a study by HubSpot, 55% of agencies cite the need for more sales and marketing as their biggest barrier for growth, 28% feel they are unable to hire the right people, and 24% feel they are unable to differentiate themselves from the competition.

But if you automate the campaign process as much as possible, from data and inventory management, to set up and forecasting, optimization, and reporting, it can lead to efficiencies that are as good as having an additional team member. Let the AI do the heavy lifting for you, so you can focus on the results, conclusions, and strategy. As well as the all-important relationship-building with new and existing customers.

What to look for in the right partnership

Finding the right tech partners is key to gaining real efficiency, something Nara Media has already discovered. Managing multiple or poorly integrated vendors can counteract the benefit of having the tech in the first place.

A few good things to look for in an efficient tech partner include:

  • An independent company, with no hidden interests elsewhere and a transparent business model
  • A comprehensive support program, with flexible service options that suit your needs, in the markets and languages you operate in
  • A team that you can mesh with, who will internalize your goals, and work to help you succeed
  • A campaign management system with intuitive UI workflows that saves time for you and your team

 

Are you looking for the right tech partner to help you save time and grow your business? Validate.ly assessed the efficiency of the top 7 DSPs, see the results here.