Is your marketing firm competing with you?
It’s unbelievable how many firms will sign a client and then sign another client in the exact same vertical market, competing in the exact same geographical market. Either they think you’re stupid or they have no confidence they can dominate a market for you. Both traditional and digital agencies are guilty of doing this. Sure, it’s good for them, but why would you pay someone to advocate for you while letting them advocate for a competitor vying for the very same customers? It’s nonsense.
These firms clearly have no ability to dominate a market, or they simply would not be able to operate this way.
These firms clearly have no ability to dominate a market, or they simply would not be able to operate this way. I can tell you that none of our clients would be okay with us also marketing for their competition. Why? Because we drive real conversions. Trackable. Quantifiable. That requires client advocacy, not cute little campaigns. And it certainly doesn’t happen when hitting a targeted market on behalf of multiple clients.
The opportunity for leaking of proprietary information is real. All it takes is one disgruntled employee and BAM! now your competitors know information about you that you considered privileged between you and your marketing firm. Also, how can they NOT use see your success as opportunity to tweak your competitors’ campaigns in order to be successful for them?
The most egregious examples are the digital “platforms” that seek business through agencies. These companies couldn’t care less about advocating for you—they want every company in your market using their platform. And agencies are all too happy to oblige. Automated marketing is a great example that many traditional agencies have started using, primarily because of the need for content development (lots of billable hours) and because it offers a simple interface while letting agencies claim to their clients that they are digitally savvy. Ummm… Not so much. What they are is willing to put your business’s analytics in front of the eyes of people running similar campaigns for 10 of your competitors. Your success today is now all of your competitors’ success tomorrow! Isn’t that great?
No. It’s lunacy. There are better ways to spend your marketing dollars.