The right marketing partner should be able to tell you what is working, and what isn’t, in terms of your marketing program. Ideally, they should be finding fresh ways to produce more business at less cost. And be accountable for results.
So how do you find the right marketing partner – the best fit for your company? Someone who’s going to give you the biggest and loudest bang for your buck? According to Dan Muggeo, a marketing and business intelligence specialist in Boca Raton, Florida, here are 5 simple but powerful tips to keep in mind before you bring a new marketing partner on board.
All Roads Lead Through the Customer
It may seem obvious, but marketing partners who focus on strategies and programs rooted in customer needs usually hit the bull’s eye.
Tip #1, the right marketing partner needs to know the consumer. What motivates them to abandon old brands, taste and touch new products and try new things. They don’t necessarily need to know your customer, initially – just the consumer marketplace, and why people want the things they buy.
A favorite example is Microsoft, which in 1994 hired Bob Herbold as its Vice President, COO. For 26 years, Mr. Herbold had served as a top executive marketing soap, toothpaste and other personal consumer goods with Procter & Gamble. But what did soap have to do with selling software? Apparently, everything, if you understand what motivates people to buy.
The Right Partner Is in Your Camp
Sad but true, the traditional client-agency relationship, especially in the mar-com world, has been somewhat adversarial. If a company’s fees are based on a percentage of dollars spent, human nature dictates that they want you to spend more.
Tip #2, choose a partner who sits on your side of the table. Establish a relationship that transcends your budget and might even be partially performance based. But, be realistic, trying to establish a partnership that is purely based on bottom-line results and not affording your partner a say in management is folly. Partnership is just that…partnership. Consider a reasonable fee with an override for performance.
Think Small
Many of the biggest marketers – including General Motors – are looking elsewhere for marketing firms (of any size) that can think out of the box….and make a difference. Boutique agencies think out of the box. They’re nimble. Focused. So, Tip #3, think smaller – it can be beautiful on your bottom line.
Good Partners Partner with Expert Partners
"If a marketing firm says it 'does it all,' chances are that it really doesn’t," Muggeo says. "Rather, the good ones have partners who provide pieces to the solution puzzle. This way, the firm doesn’t have to turn away potential business because it doesn’t have all the services or products you require."
There is nothing wrong with this – in fact, it makes a lot of sense. Even the most successful marketers can’t know everything or provide every tool, so they align with experts. But look to your potential marketing partner to be open and honest about what they do best. Tip #4: One of the things a really good marketing partner does best is partner with expertise. Look for it.
Respect Matters
So finally, before taking someone on, ask yourself, does it feel right? Is there a synergy of personalities and philosophies? Tip 5: As in all other partnerships, the best and most satisfying are those in which expectations are clearly understood and respected by everyone involved.
Henry Ford made famous the line, "I know half of my marketing budget is successful. I just don't know which half." Well, that won't fly today. Good (and smart) marketing partners need to know what's working and why -- and companies need to know how to pick the right one that fits their business and goals.
