Memorandum Analysis essay
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In making the choice of advertising, it is necessary for a company to evaluate all the possible alternatives available for the important task. The process of determining which option serves best out of the available options might be a tedious one. However, after all considerations are made and all alternatives weighed with regards to the company’s commitment to advertising, a decision needs to be made. In this case, with the available expenditure amount meant for advertising, outsourcing for advertising presents the best solution (Padilla n.d.). After weighing all options, hiring services from an outside agency will be cost effective for the company than having an in-house advertising program. In the following sections, I will highlight to you the advantages of going for an outside agency for marketing rather than an in-house program. Outside advertising agencies have various advantages and cost cutting measures. I will further highlight the types of agencies available in the market and finally select the ideal advertising firm that should be selected. In addition, there will be some of the criteria that one should consider while choosing an outside advertising agency and the relevant experience one should look out for in the process. Finally, there will explanation of some of the key services which should be evaluated in the agency’s future performance review.
Types of Outside Advertising Agencies
In the advertising business, we have different agencies and selecting one which suits a company relies on the needs of the business. In the case of I’ll Run for You, I recommend the use of creative boutiques, media buying agencies, and full service agencies. Since the company seeks to gain fully on the campaign and advertisement, the use of full service agencies will be recommended. The full service agency comprises of various departments which undertake all the activities which in turn fulfil the client’s demands (MBA 2013).
Selection of an outside advertising agency
Before settling on a given outside advertising agency, it is important for your company to engage the several available companies in a rigorous selection procedure. The agency should be one which is familiar with the products, business, and company’s culture. It is necessary for the two business partners to engage in a mutually benefiting contract. From prior experiences of companies and advertising agencies, only those agencies which are clearly aware of the company’s culture and business have the ability to produce appealing and successful campaigns. Through understanding a company’s culture and business, the advertising agency will comfortably craft a campaign which can convey a message that will be unique to you as a company and organization.
Considering your company is a small time business, it is significant that you select an agency which will devote the time needed to ensure a successful campaign of I’ll Run for You. Smaller, local agencies have in the past given evidence of offering more one-on-one attention as compared to larger agencies. Notably, agencies which maintain a stable of larger companies are unlikely to regard a small business as an important client unless they foresee bigger things. Since this is a first time advertising business in the company, it is recommendable for the company to go for a small local agency which can focus on the campaign. It implies that you need to choose a company which is familiar with the specific set of concerns shared by most small businesses. Some of the issues faced by small companies include limited advertising budgets, establishing a niche with the community, and gaining a loyal customer base (MSG 2012). The chosen agency should be able to deliver quality work on the campaigns based on the presented situations by your company.
Some of the criteria your company should consider while choosing an outside agency include ascertaining whether the agency is familiar with the target market. For any marketing campaign to be successful it must touch base with the target audience and this will be through reaching them in the best possible way. Secondly, your company should ensure the agency has ample experience and a good track record in the media they intend to use. Lastly, small business owners make enquiries on the outcomes the agency has attained in working with similar customers probably in the same field (Frankenberg and Graham 2004). Working with first time agencies means risking the campaigns for either succeeding or failing as this could be a try and error move. Moreover, it is important for the company to enquire and get a clear picture of what they should expect to accomplish with their specific advertising budget. Before settling on an agency, it will be essential for the company to seek for recommendations from people with experience in the field. The agency-client relationship is based on trust, and the creative work agencies present is subjective. The company should settle on an agency that presents a personality and creative work that best embraces the company’s products.
Benefits of Hiring an Outside Advertising Agency
Advertising agencies are mainly professional service providers in different fields. These agencies move out to help both small and big businesses and their role is to develop and promote advertising campaigns through traditional and contemporary methods emerging in technology DMH, (2009). In the case of I’ll Run for you advertising, the outside agencies can use different media to promote and create awareness of the project. Most of the outside advertising agencies use the traditional media which comprises of newspapers, television commercials, magazines, and billboards. However, these agencies are quickly embracing the diverse emerging technology which includes social media advertising and marketing, mobile advertising on phones, and internet videos (MSG 2012). While choosing an outside agency for the purposes of advertising, it is essential to understand the role of the agencies in the marketing process. Some companies require the agency to play part of the advertising while others wish for the agency to undertake the entire project. Whichever way, hiring an outside advertising agency is cost effective.
One major advantage of engaging an outside agency in any advertising and marketing projects is that it is an invaluable cost cutting measure (Frankenberg and Graham 2004). Hiring an established agency means paying them a fee and freeing you from absorbing any other costs such as costs of capacity building and developing an in-house advertising department. Having advertising work taken up by an outside agency means the agency being responsible for costs such as administrative work, service oriented expenses, and distribution costs. Moreover, hiring an outside advertising agency means benefiting from their creativity and experience in the job. Companies established in the advertising work know what is expected in the market hence will resolve to presenting the best possible work for the company.
It will be advantageous for the company to seek services of an outside advertising agency because of the prime talent in the company (Outsource marketing 2004). These specialists and expertise have invested in creating and maintaining campaigns for diverse range of customers’ hence high chances of proper work. It will be quite challenging for any other company or your small company to hire the top-level advertising personnel for your in-house advertising department. By hiring an experienced outside agency, you can reap the benefits of their knowledge and experience without assuming many risks involved with building your own in-house advertising department. Another major benefit is having an outside advertising agency is from benefiting from their access of wealth contacts (Padilla n.d). It implies that the agencies have established relationships with national and local media outlets, printing companies, publishing companies, and many others which can help to boost the campaigns and marketing.