Marketing agencies are the secret to achieving more in less time. Marketing agencies can help businesses convert customers through strategies such as print advertising, SEO (search engine optimization), and social media marketing.
Continue reading to find out more about marketing firms and to get answers to questions like:
- What is a marketing agency?
- What is the cost of a marketing agency?
- What is the best way to hire a marketing company?
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What is Marketing Agency?
An agency provides services to help businesses reach, nurture, and convert customers. The size, specialization, and services of marketing agencies are all different. Marketing companies include GenTech Marketing.
What Is the Distinction Between a Marketing Company, Marketing Firm, and Marketing Agency?
It’s good news! There is no difference between a marketing agency and a firm. The terms are interchangeable, even though some companies call themselves one or the others. In this definition of a marketing firm, we’ll use both terms interchangeably.
What Is the Role of a Marketing Agency?
Marketing agencies are responsible for fulfilling their contractual obligations. These often revolve around achieving client goals. These obligations may include developing strategies, creating creative assets, reporting on performance, etc.
What Types of Marketing Companies Are There?
You can choose from a variety of marketing companies, such as:
- Traditional focuses on offline channels like print, TV, and radio.
- Digital is a digital that focuses on channels like paid search, social media, and email.
- Hybrid focuses on both offline and online channels such as search, radi,o and paid.
There are several categories of marketing agencies within these types.
- Full Service provides turnkey marketing solutions for fully managing campaigns.
- The boutique provides marketing solutions for campaigns.
Full-service agencies are usually the best choice because they can adapt (and meet) all your needs, be it consulting, management, or support. Boutique agencies are more limited in their ability to help your company.
Marketing companies can also specialize within specific industries. There are many different types of marketing firms.
- HVAC Marketing Agencies
- Marketing agencies for manufacturing
- Healthcare Marketing Agencies
- E-commerce Marketing Agencies
What Marketing Services Are Provided by Companies?
Marketing agencies offer a wide range of services. The services that they offer will vary depending on the type and category of agency. A traditional marketing agency, for instance, will not offer digital marketing services like search engine optimization.
Here are a few examples of the services offered by a digital agency:
- SEO services
- PPC Services
- Content marketing services
- Social Media Marketing Services
- Conversion rate Optimization (CRO) Services
- Web design services
Here are some examples of traditional agency services:
- Print Advertising Services
- Public Relations Services
- Television advertising services
- Branding services
- Trade Show Services
- Direct mail services
Here are some examples of hybrid agency services:
- Branding services
- Review Management Services
- Advertise on Connected TV Services
Websites of marketing companies will usually list their services.
What Is the Cost of Marketing Agencies?
The prices for marketing agencies are different depending on the agency, service, and project. Small-to-midsized companies spend between $51 and $10,000 per month with their marketing agency on digital pricing, while large corporations spend thousands of dollars each month.
To get the most accurate estimate of price, ask a marketing company for a customized quote.
What Should a Marketing Company Do?
You know what marketing agencies do at a high level. But what do they actually do?
Marketers should follow these steps:
1. Clients can achieve their goals
Marketing firms that are good at what they do help their clients reach their goals. They take the time to understand the client’s business, audience, and previous marketing efforts. A seasoned marketing agency may have extensive experience in your field, which will help you to improve your marketing from the start.
GenTech Marketing, for example, has years of experience in marketing, and a diverse team of 500+. We can therefore provide our clients with marketing teams familiar with their particular industry. This gives their campaign an immediate advantage.
2. Find new marketing opportunities
Marketing agencies that are the best will be proactive in helping clients.
- Grow your business
- Adapt your business to the market.
- Use new technologies or marketing techniques
Marketing companies can give their clients an advantage by being proactive. These marketing firms don’t just keep up with the competition, they help their clients get ahead of it by trying new strategies, embracing failure, and leaning into marketing during difficult times.
What’s a good example of how a marketing agency can identify new market opportunities to help its clients?
3. Provide data-backed recommendations
Data is a valuable resource, whether you are marketing online or off.
You can benefit your business by using data to drive your marketing decisions:
- Optimize your marketing budget
- Increase its return on Investment (ROI).
- Reach your marketing goals faster
Marketing agencies should always provide data-backed suggestions when making recommendations.
- The following are some strategies to help you.
- Tactics
- Budget reallocations
Market research firms can collect data in multiple places, including:
- Publicly Available Sources
- Personal experience
- Datasets specific to agencies
- Calculations using artificial intelligence or machine learning
- Partnerships
The best marketing agencies use the industry and goals of your business to filter their recommendations. If your business isn’t able to support a self-managed e-commerce site, your agency may suggest an alternative, such as an Amazon Store.
4. Measure performance
No matter if you choose a hybrid, traditional, or digital marketing agency, they must measure your results. Measuring the performance of your marketing campaign can help your business (and your agency) determine whether your strategy is effective.
Performance can be defined in a variety of ways. However, it is usually based on metrics such as:
- The following are some of the ways to improve your ROI.
- Impressions
- Visits
- Conversion Rate
- Leads
- Sales
You should define your performance before partnering with any marketing company.
What will be your definition of success? What metrics does your business want to improve? These questions will help you find the best marketing firm to help your company achieve its goals.
It’s not easy to measure performance.
Some metrics like impressions and conversion rates are easily accessible through Google Analytics or Google Ads. However, other advanced software is required. This technology is likely to be available if you partner with an established, larger firm.
GenTech Marketing has marketingCloudFX for instance, which we have built to allow our clients to see:
- Driven by revenue, leads, and phone calls
- Search, email, and paid channels (think of them) can all have a specific ROI
- URL-specific ROI
Most firms don’t create ROI tracking software in-house, like GenTech Marketing. They purchase it from a third party. This setup is effective, but it can create problems because the agency does not own the software.
Third-party providers can cause clients to experience price spikes, data loss, and other problems if:
- Rates of interest are increasing
- Acquisition
- Close
It’s important to understand how a firm measures its performance before you sign a contract.
5. Maximize ROI by optimizing performance
They won’t just settle for a “set it and forget it” strategy. Why? Your business will benefit from optimizing campaigns to maximize your ROI.
Some ways that marketing companies can improve your campaign’s performance include:
- Add the negative keyword into a Pay-per-Click (PPC) Campaign
- Update older content to increase relevance
- Create an A/B test on a page with high traffic for a product or service
Working with a leading marketing agency will help you to maximize your campaign ROI. It’s almost like hiring a consultant to optimize SEO or launch an ad.
You’ll want an agency that values ROI, just like most businesses. If you give your marketing firm $1, it will work hard to return $2 (or even more).
What Is the Role of Marketing Companies?
Marketing companies will vary depending on their company but usually focus on three main areas:
- Onboarding
- Management
Here is an example of how GenTech Marketing as a marketing company works:
- Your business can benefit from a dedicated account representative who has worked in your particular industry.
- Find out your company’s goals, mission, industry, and expectations
- Review your company’s strategy
- Your recommended strategy
- Your strategy is now ready to be implemented
- Next-step optimizations to improve your ROI can be provided for your team.
- Report your performance
Remember that this is only a general overview and the processes of each agency will vary depending on the service.
Why Should You Hire a Marketing Company?
The benefits of hiring a marketing company include:
Save time
When you hire a marketing agency, you can save time immediately. Your agency will take care of all marketing tasks you request, from developing a strategy to launching a campaign. You can spend more time on marketing your business.
Fill skill gaps
Full-service agencies can also help fill in any skill gaps. You can access copywriters, web developers, and marketers instantly. This benefit is one of the main reasons that marketing firms outsource to smaller marketing teams or teams with less staff.
Scale marketing strategies
Scaling strategies are made easy when you partner with a marketing firm (specifically, one that offers full service). These agencies are able to provide the resources you need, whether your goal is to expand or add a service. You can achieve success faster when you are able to scale up your marketing.
Advanced marketing tools
You may also have access to advanced marketing tools, depending on the marketing agency. These tools will help you better understand the performance of your marketing campaign and give internal stakeholders critical information about your performance.
Marketing spending can be optimized
Marketing agencies can also optimize your marketing budget. Marketing agencies are also less expensive than internal teams. An internal marketing team can be as high as $250,000 per annum. They have the skills and knowledge to help you improve your marketing ROI.
Get expert advice
You also get the benefit of a team of experts on your side when you hire a digital marketing agency. Their expertise allows your business to make strategic decisions regarding its strategies and tactics. You can also be an early adopter of new marketing methods, both online and offline.
When Should You Hire Marketing Services?
When you see the following, consider hiring a marketing firm.
- You’re not getting marketing work done
- Your marketing goals are not being met
- You are not keeping up with your competitors
There are still reasons to hire a marketing agency even when everything is going well.
- You want to increase your marketing budget
- You want to try out a new approach
- You want to know more about the subject.
Keep reading for tips if you’re thinking it’s the right time to hire a marketing agency for your company!
How to Select a Marketing Agency
Here is a guide on how to select a marketing agency.
- Decide on your marketing goals and needs.
- Search for options using network referrals, websites, and more
- You can read the reviews, case studies, and testimonials of your candidates.
- Contact your top marketing agencies for a custom quote
- Select your marketing company
Additional tips to consider when hiring include:
- Beware of “cheap services”: You will often see advertisements for “cheap marketing services” that cost just a few hundred bucks. These agencies are usually unable to produce results, either because they copy and paste strategies or do not deliver anything.
- Search for solutions that are scalable: Hiring a marketing company is a sign of growth. Partner with a company that will grow with you and save you the hassle of having to hire every few years.
- Ask Questions: Expect a meeting with the agencies that you contact if you have any questions! Ask yourself and other stakeholders questions so that you can make an educated decision. Ask about the agency’s experience in the industry, its process, and past failures.
These tips will help you find the right marketing partner for your company.
Gentech Marketing Offers All the Advantages of a Marketing Firm
What is a Marketing Agency? Marketing is your partner in driving revenue. GenTech Marketing has been partnering with companies across industries for over 29 years. We help our clients expand their product lines, service areas, and teams.
Want to know what our award-winning team can do for your business? Browse our digital marketing services!
