Formula One teams carefully choose which marketing agency they will be working with. So for instance, even though Don’t Panic London has a good following and established reputation, they might still need to meet certain requirements before servicing an F1 team for their advertising needs. But it pays a lot! As you can see, despite not having plenty of commercials, F1 is still one of the most respected sports worldwide.
Selecting Advertising Firms
As a business owner, it is extremely beneficial if you’d do what F1 teams are doing in terms of their advertising campaigns. And mind you, this is something that has taken time and effort to ensure that they’ll come up with the best marketing ideas.
This is achievable if you too will take a closer look at your business’ advertising needs. Not to mention, the reputation, abilities and of course, fees of your prospective agency. Let us have a closer look at these aspects.
Identifying the Services Needed
Before hiring an agency, you ought to determine first why you want to hire them. Do you just need handful of marketing materials to be produced like a postcard or sales letter? If you do, then perhaps a graphic designer or freelance copywriter will do and not a full-blown advertising agency.
On the other hand, if you are as big as an F1 team, then it is quite obvious that you need the help of an advertising agency. The agency you’ve chosen will be the one performing all the legwork in marketing your business from radio spots to print ads and everything in between.
How much is Your Budget?
Bigger agencies typically have bigger fees compared to smaller agencies, this is true if they are offering more services. While you might want to hire popular agencies, their fees might still exceed to what you initially projected. So know your budget and stick to it.
Review Your Prospective Agencies
After narrowing the advertising agencies you think will meet your requirements, the next thing to do is to check their website and read about how their previous clients say. This is going to give you an idea of what to expect the moment you opted to work with them.