Marketing · Marketing agency

How to evaluate the right time to bring in a Marketing / Media Buying Partner?

Segah A. Mir Gartner rival is long overdue | MiT Sloan

May 18th, 2020

MirData.Report is in early stages. I feel we have a shot at capturing the demand through social media, however I am unsure whether the time is right for this and whether we should continue to put more effort into very slow acquisition of readers via virtual events. Because I am unsure of the timing, I feel like it might be a better idea to partner with a Marketing agency rather than hiring one. Please help if you've had experience with either (partner vs. hiring) and can speak to things like: timing in terms users/readers/revenue, etc...

Maxi moon Founder and Project leader of Trusted Animal Files, out of the box thinker, integrity

May 19th, 2020

ha,ha...decisions, decisions...If you really have an agency that is willing to partner with you (in the sense of co-founding) go for it. But from my experience, most of the agencies are doing what Lisa Cutter is doing. Attracting and selling...and that is normal because it is their job. :-)

I save money now through the mistakes (trying to do myself, short time) I made in the past by hiring specialists.

A. planning my Marketing campaign on a 9-month bases

B. Hiring specialists per media

C. you can save time and money if you have mapped it out together with your different Mktg and PR actions (or else it is going to be sold to you)


As for the timing, in my case I know I'm going to launch mid/end of June.

In my case, I have to look at the "new legal decisions in my area"

Ad cost

New product testing & launching (there is probably going to be some stress on the developers..lol) (there is no way I can launch it prior to mid june)

PR

Appointments and availability of some influencers

Analytics...traction gained, demand, sales...(there is no way I can wait until July or August...:-))

So..roughly that's how I have decided. I already know that some of the developers are going to hate me for a while. It's always the same.

They are really good but perfectionists and I care about delivery.

That's life...perfection is an ongoing process...:-)

AShu Co-founder I CTO I Co-adviser I Full stack developer

Last updated on May 20th, 2020

As a decisions maker you know about what you have and what need you have.

So i will give some points for both

1. Partner with a Marketing agency

Its good for short time.

Its helpful for beginning .

Its easy to setup.

Its cost efficient at early stage

its provide less control on your marketing strategy

Its make you depended to other company

2.Hiring

Its give more control and more knowledge's about your marketing strategy's

Its will be good for making your marketing and sales team

its take long time and more efforts to setup

its may be costly at starting stage.

Its good for long term

Its give realtime feedbacks and security about consumers data

My suggestion is use hire someone and also partner with agency if you have fund problem and less risk method.In this method you divide the budget for marketing two parts one part for hiring and one part for agency's .

And with time if you feel you are good in self team marketing then gradually increase budget for self marketing and decrease for agency marketing.

Or

But if you want more risk more profit go for own marketing team.

Many more possibility is there its depend on your resources and your conditions.


So i hope these points helpful for you

Thanks

Ashu

Paul Garcia marketing exec & business advisor

May 21st, 2020

I would echo a lot of what @Ashu already said. I'll also point out that marketing always comes first, so the right time to hire in marketing is before you even decide what your product is going to be. Later is late. There's nothing that will ever equal the investment an in-house marketing person has in the outcome of your business. An agency can always get another client. And an agency still needs to be managed. If you don't provide an agency with top-notch feedback, nothing they produce will deliver the kind of results you get from someone who is intimately involved in the day-to-day of your business. Media buying, that's a stretch to worry about so early. You won't be able to look over the shoulder of an agency and make quick tweaks.


In every business effort (including a marketing plan) you balance speed, quality, and price. You can only get two at a time in your favor, so it's going to be your choice which you feel most comfortable letting carry the risk.


If you do decide to interview agencies, here are three questions I recommend you get satisfactory answers to. If you don't like the answers, don't hire them.

1) How intimately do you know my industry already?

2) What are the objectives I should have for my company?

3) Who will be working on my account?


If you have to teach the agency about your industry, don't hire them.

Remember that what you should do and what you can afford to pay an agency may not be the same thing. If you can't afford the agency price to reach the objectives set forth, hire internally, don't simply spend less with the agency and trim your objectives. Make sure you have talent that will stick with your account long-term (more than the account manager), not just the juniors or interns who don't have experience, who will mature and move on to other things, or who aren't the same ones who launched your programs initially. You need continuity or you're starting over educating the new players all the time, causing you to waste a lot of editing time.