Major companies like Nandos and Coca-Cola tend to work with one advertising agency, who run all of their marketing endeavors. With such huge budgets and working with the best of the best, why do major companies still feel the need to switch advertising agencies?
The world of marketing and advertising can be a cruel and fickle mistress – ask anyone who’s even vaguely involved in it. In an industry that’s all about maximizing profit (while simultaneously trying to connect a product to an appropriate audience), it’s no wonder that there’s some seriously intense behaviour going on behind the scenes.
Is it a case of testing out the new kid on the block to get fresh perspectives, or because they’re not satisfied with their agency’s understanding of what they’re trying to achieve? Major companies are changing agencies, here’s why:
So, why do major companies switch advertising agencies?
Even when you’re working with the best of the best, sometimes things can get a little stagnant. Big businesses can’t afford to have marketing material that isn’t innovative and driving the industry forward. With enormous budgets, and massive quotas to meet, it’s likely that companies like Coca-Cola bring new agencies on board to get fresh ideas once their original partner begins to lose momentum.
This is why it’s vital that each company finds an agency that works best for them, maintains innovation at all times, and truly understands their brand’s vision.
Just not clicking
As brand’s change and adapt to an increasingly fluid and challenging market, their original agency just might not be able to keep up. As a company’s vision changes, it’s vital that its advertising agency understands exactly what is needed from them, and takes inspiration from the needs and wants of its client.
Unfortunately, the attitude of “agency knows best” is very much prevalent in this industry. While the agency does have the expertise, it’s important that they still take the ideas of the client into account – after all, it is the onus of both the company and the agency to build brand awareness. If a company isn’t satisfied with their agency’s understanding of exactly what they’re trying to achieve, it might be time to hire the new kid on the block.
If an established business is attempting to enter a new market, they may decide to work with an agency that already has ties to that market. This can be super beneficial to the company and the success of their marketing. Accessing a new target market can be challenging, so hiring an agency with expertise and links to that demographic can be a massive help.
Some major companies are changing agencies, and here’s another reason why: One of the most interesting trends we have found is that companies are hiring secondary or complementary agencies to work alongside their current agency. Collaboration can lead to increased ingenuity, innovation, and creativity – it’s a win-win situation.
Major companies are changing agencies, and here’s why: It could simply be a case of wanting some fresh perspective and going with the new kid on the block, or it could be that their current agency isn’t driving the innovation that the company seeks. As products and services evolve with the company, it’s important to stay on top of the best marketing strategies to ensure the success of new endeavours. Marketing is not a one size fits all venture.
Ultimately, companies hire new advertising agencies for a variety of factors. It’s important to find the right agency with the proper expertise in the area that the business wants to target. Not quite a new kid on the block, 4King Media has ample experience delivering tailored marketing solutions to the blockchain, cryptocurrency and online casino industries. With unique and successful formula, see how they play the field here and here.