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How To Properly Value The Next Agency You Hire

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How To Properly Value The Next Agency You Hire

August 23, 2020

Imagine this scenario: You’ve just taken on a new agency, and everything appears to be going perfectly. They have impressed you with their presentation and promised to provide results that will transform your company. But as the weeks pass, you realise something isn’t quite right. The promised results aren’t showing up, and you’re left wondering if you’ve made a costly mistake. Sound familiar? You’re not alone.

A survey by CareerBuilder revealed that 75% of employers had experienced something similar, hiring the wrong individuals for a role and suffering an average loss of $17,000. It’s enough to get anyone’s heart racing! But fear not because we’re here to guide you through the potentially risky process of selecting an agency, ensuring your next collaboration is straightforward.

So grab a biscuit, kick back, and discover your ideal agency partner saving you precious time, money, and restless evenings. 

 

Determine Your Business Needs

Let’s navigate the complex world of agency selection by focusing on defining your business needs. We will explore the importance of identifying the services you seek and establishing the specific goals you aim to accomplish through your agency partnership.

 

Identify The Services You Need

The initial step in outlining your business needs is pinpointing the precise services you expect an agency to provide. To pinpoint the precise services your business requires, take into account the following questions:

  • In which areas is your business currently facing challenges or encountering difficulties?
  • Are there any skill gaps within your in-house team that an agency could help bridge?
  • Would your business benefit more from a full-service agency offering a broad array of services, or would a specialist agency focusing on a particular niche be a better fit?

By identifying the services your business needs, you’ll be better prepared to find an agency capable of delivering maximum value and results.

 

List Down the Specific Goals You Want to Achieve Through the Agency

After determining the services your business requires, you must set specific, realistic goals you intend to achieve through collaboration with an agency. Establishing well-defined objectives enables you to assess an agency’s expertise and track the success of your partnership more accurately. 

To help define your goals, consider these questions:

  • What short-term and long-term objectives do you have for your business?
  • How do you see the agency’s role in helping you attain these objectives?
  • Can you identify quantifiable metrics or key performance indicators (KPIs) to gauge the agency’s success in achieving your goals?

When setting your goals, ensure they are SMART (Specific, Measurable, Achievable, Relevant, and Time-bound). This approach gives your business and the agency a clear blueprint for success and a strong foundation for a mutually beneficial working relationship.

By carefully defining your business needs, you will be better equipped to select an agency that can help you achieve your desired outcomes. 

 

Research Potential Agencies

Let’s take a deep dive into the intricacies of researching potential agencies, covering vital steps such as leveraging search engines and directories and inspecting their website and social media presence.

 

Use Search Engines and Directories to Compile a List of Potential Agencies

The first step in researching potential agencies is to tap into search engines and directories to compile a list of prospective partners. These resources can provide much information about various agencies, allowing you to identify and compare different choices based on your unique requirements.

Keep the following suggestions in mind when using search engines and directories:

  • Use targeted keywords that resonate with the services you’re seeking, such as “content marketing agency” or “graphic design agency.”
  • Seek out specialised directories that are experts in your industry or the services you need.
  • Explore beyond the first page of search results, as the ideal agency might be just a few clicks further.

By making the most of search engines and directories, you can establish a wide-ranging list of potential agencies, laying the groundwork for a more in-depth evaluation of each candidate.

 

Check Out Their Website and Social Media Pages

Once you have a list of potential agencies, it’s time to explore their website and social media pages. This step will provide valuable insights into their expertise, company culture, and communication style. Moreover, by checking vendor backgrounds, you can ensure that your chosen agency has a strong track record and professional attitude.

  • Assess their website’s overall design and content, as it can give you hints about their professionalism and diligence.
  • Browse their social media pages to learn more about their company culture and values, to ensure they coordinate with your business’s philosophy.
  • If available, use their blog or resources section to gauge their industry knowledge, expertise, and how well they stay updated with trends and advancements.

 

Look For Reviews and Testimonials

Reviews and testimonials are beneficial when it comes to understanding an agency’s performance, client satisfaction, and overall dependability. By checking these sources, you can obtain a clearer picture of how the agency has performed previously and whether they are likely to be a fitting partner for your business.

  • Seek reviews on third-party websites like Google Reviews, Trustpilot, or industry-specific review platforms. This will offer you an impartial perspective on the agency’s performance.
  • Carefully read testimonials on the agency’s website, as they can reveal insights into past clients’ experiences and the agency’s ability to fulfil their promises.
  • Reach out to your professional network for recommendations or personal experiences with the agencies you are considering, as firsthand accounts can prove invaluable in your decision-making process.

 

Assess the Agency’s Expertise and Experience

When searching for the ideal agency to collaborate with, evaluating their expertise and experience thoroughly is essential. Let’s discuss the crucial steps to assess an agency’s expertise and experience, from checking their portfolio and case studies to asking for references and verifying their credentials and certifications.

 

Check Their Portfolio and Case Studies

Their portfolio and case studies indicate an agency’s expertise and experience. By examining their previous work, you can gain insights into their creativity, problem-solving skills, and ability to deliver results that align with your business goals. For example, if your goal is SEO, then you may need the expertise of an SEO reseller; if your goal is social media, you may need the expertise of a social media agency. 

  • Look for projects similar to what you require, as this can give you a better understanding of how they approach challenges and deliver results in your specific niche.
  • Analyse the case studies to learn more about the agency’s thought process, strategies, and how they have achieved measurable outcomes for their clients.
  • Note the range of industries and clients they have worked with. This can indicate their adaptability and versatility in addressing diverse business needs.

 

Ask for References and Contact Them for Feedback

 

Another crucial step in assessing an agency’s expertise and experience is asking for references and contacting them for feedback. Speaking with previous clients can provide invaluable insights into the agency’s working style, professionalism, and ability to meet expectations.

  • Request a list of references from the agency, ideally from clients in your industry or with similar projects.
  • Reach out to the references and ask about their experience working with the agency, focusing on aspects such as communication, project management, and overall satisfaction.
  • Consider the recurring themes and patterns in the feedback. This can help you identify the agency’s strengths and areas for improvement.

 

Verify Their Credentials and Certifications

Finally, verifying an agency’s credentials and certifications is also necessary, as this can give you confidence in their expertise and commitment to staying up-to-date with industry trends and best practices.

  • Check for industry-specific certifications that demonstrate proficiency in relevant tools and methodologies, such as Google Ads or HubSpot Inbound Marketing certification.
  • Investigate their affiliations with professional organisations, indicating their dedication to maintaining high standards and adhering to industry guidelines.
  • Look for any awards or recognitions the agency has received, as these can further prove their competence and success in their field.

 

Evaluate the Agency’s Approach and Culture

Let me walk you through key steps to evaluate an agency’s approach and culture, from setting up a meeting to assessing their communication skills and responsiveness.

 

Schedule a Meeting or Consultation with the Agency

Chatting with them is a great way to get a feel for an agency’s approach and culture. This interaction can offer a glimpse into their working style, communication skills, and compatibility with your business.

  • Use this conversation to discuss your business goals, expectations, and any concerns you might have.
  • Pay attention to how well they listen to your needs and whether they offer insightful and constructive feedback or suggestions.
  • Take note of their enthusiasm and passion for your project, which can strongly indicate their commitment and dedication to achieving your goals.

 

Ask About Their Methodology and Process

To better understand how an agency plans to tackle your project, it’s essential to dig into its methodology and process. This knowledge can help you ensure that their way of working aligns with your expectations.

  • Ask about their preferred project management tools and techniques, such as Agile or Scrum methodologies, to ensure their approach is compatible with your business’s working style.
  • Request a detailed breakdown of their process, from initial discovery and planning to execution and final deliverables.
  • Discuss any potential challenges or obstacles they predict and how they plan to address them. This can demonstrate their ability to think critically and problem-solve effectively.

 

Assess Their Communication Skills and Responsiveness

Communication is the glue that holds any successful partnership together, so checking the agency’s communication skills and responsiveness is vital. This assessment can help you gauge how smoothly your collaboration will run and whether they will be attentive to your needs and feedback.

  • Observe their communication style during your chat, noting their clarity, attentiveness, and ability to articulate their thoughts effectively.
  • Ask about their preferred communication channels and frequency, ensuring they meet your expectations and needs.
  • Pay attention to their responsiveness to your inquiries or concerns; timely communication is crucial in maintaining a healthy working relationship.

By following these steps and thoroughly evaluating an agency’s approach and culture, you can better determine whether they fit your business.

 

Discuss the Agency’s Pricing and Contract

Understanding an agency’s pricing and contract structure ensures a mutually beneficial partnership.

Request A Detailed Breakdown of Their Pricing

To avoid any surprises down the line, it’s essential to request a detailed breakdown of an agency’s pricing structure.

  • Ask for a comprehensive overview of their fees, including any additional costs that may arise throughout the project.
  • Find out whether they charge a flat fee, hourly rate, or work on a retainer basis so you know what to expect.
  • Ensure their pricing aligns with your budget and provides value for money regarding the services offered.

 

Negotiate The Terms and Scope of The Contract

 

Establishing a clear and mutually agreed-upon contract is the foundation of a successful agency partnership.

  • Discuss the scope of work, outlining the specific deliverables, milestones, and timelines.
  • Clearly define each party’s responsibilities and expectations to avoid misunderstandings.
  • Be open to negotiating specific terms, such as project duration or revisions, while ensuring both parties are satisfied with the final agreement.

 

Clarify Payment Terms and Conditions

A clear understanding of payment terms and conditions is crucial to maintaining a compatible working relationship with your chosen agency.

  • Inquire about their preferred payment schedules, such as monthly instalments or payments tied to project milestones.
  • Discuss any penalties or late fees that may apply during delayed payments or project changes.
  • Ensure that both parties agree on the terms and mutually understand the financial commitments involved.

You can ensure a transparent and mutually beneficial arrangement by thoroughly discussing pricing and contract details with your potential agency partner. This careful approach will help pave the way for a successful collaboration, allowing both parties to focus on achieving the best possible results.

Make a Decision and Finalise the Agreement

You’re on the cusp of finalising your search for the perfect agency partner. Now comes the final stage of evaluating your options, selecting the most suitable agency, and starting your collaboration.

 

Weigh the Pros and Cons of Each Agency

Before you make your final choice, take some time to assess the advantages and drawbacks of each agency on your shortlist.

 

  • Reflect on your interactions with each agency, considering their communication abilities, expertise, and how well they would gel with your business.
  • Review their pricing and contract proposals, checking that they meet your project’s needs and budget.
  • Contemplate any potential issues or limitations linked to each agency, like restricted resources or bad experiences in specific domains.

 

Select the Agency that Meets Your Criteria and Budget

Having weighed the pros and cons, it’s time to select the agency that aligns best with your criteria and budget.

  • Keep your key goals and objectives at the forefront of your decision, ensuring your chosen agency has the skills and experience to support your ambitions.
  • Remember to consider the importance of company culture and values; these elements can significantly impact the outcome of your partnership.
  • Trust your instincts and opt for the agency that inspires the most confidence. Your intuition can be a valuable ally in the decision-making process.

 

Sign the Contract and Establish a Timeline

Once you’ve decided, it’s time to formalise the agreement and get your partnership underway.

  • Examine the contract thoroughly, ensuring it accurately reflects the agreed terms, scope of work, and payment arrangements.
  • Consult a legal expert if any clauses or provisions seem ambiguous or raise concerns if needed.
  • When both parties are satisfied with the contract, sign it and establish a well-defined project timeline, complete with milestones and deadlines to keep things on track.

 

By following these steps carefully, you can make a well-considered choice and successfully partner with your chosen agency. With a solid agreement and a well-organised action plan, you’re ready to tackle your business goals and enjoy the fruits of a rewarding collaboration.

 

Conclusión:

Choosing the perfect agency for your business needs can be a challenging task. Still, with an organised and attentive approach, it can be manageable. Begin the process by identifying your objectives, researching prospective agencies, and examining their skills and experience. 

Consider their approach, culture, pricing, and contracts, and carefully consider the pros and cons before deciding. Following these steps will help you establish a successful partnership that aligns with your goals and budget, ultimately contributing to your business’s growth. 

If you’ve found this blog helpful, don’t hesitate to share it with others in a similar boat who could benefit from these valuable insights. Together, let’s make well-informed decisions and achieve our business aspirations through exceptional agency collaborations!

 

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