Whom Should You Hire for Solving Business Challenges after Covid-19?
Here is A Quick Guide about the debate By TheDigitalFellow Whom do you need for your Business? And how will you decide?
Now hear carefully and Know the difference with the help of comparison and contrast.
1. Area of Expertise
Ad Agencies work on Specific marketing domain
Consulting Firms work on Specific business domain market
2. Area of Knowledge Base
Ad Agencies work on Creative-driven solution approach on branding & Marketing
Consulting Firms work on Knowledge , Intelligence , Insights, Forecast, Data driven approach on Markets, Industries, Segments, Category & brands.
3. Area of Guidance & Advising
Ad Agencies work with Marketing team in an organization for marketing ROI
Consulting Firms work with Senior management for business performance
4. Area of Core Problematic issue Identification
Ad Agencies helps Identify core marketing problems
Consulting Firms helps Identify core business problems
5. Area of Goal setting in business
Ad Agencies do Design brand communication for achieving marketing goals
Consulting Firms Provide objectivity while setting business goals
6. Area of Goal achievement
Ad Agencies Help achieve marketing goals
Consulting Firms Help set overall business goals
7. The Need to Hire Them
Ad Agencies work on Customer facing solutions primarily design oriented
Consulting Firms work on Business & customer-facing challenges
8. Reason for Hiring
Ad Agencies drive Creative supply & help Designing the look & feel of the brand
Consulting Firms To drive business strategy
9. Solutions Provided
Ad Agencies work on Solving marketing challenges only
Consulting Firms work on Solving all business challenges
10. Who Can Hire Them?
Ad Agencies are generally Hired by CMO/Marketing Head
Consulting Firms are generally Hired by CEO/MD/ Shareholders/Core stakeholders
11. Approach to Work
Ad Agencies Work with CMO
Consulting Firms Work with CEO/ Founder/MD
12. Supplement to Team
Ad Agencies Supplement marketing department in an organization
Consulting Firms Supplement all departments in an organization
13. Initiating Change
Ad Agencies Helps/ upgrade/ the last mile connect between brand & customer experience
Consulting Firms Helps upgrade people, process, product, technology
14. Approach to Knowledge
Ad Agencies With creative knowledge fuel the marketing speed & efficiency Consulting Firms Use industry/category/ segment knowledge to fuel business growth
15. Approach to Client’s Teams
Ad Agencies Cannot resize/ train/ any team, including marketing team
Consulting Firms Can advise business leaders for resizing / training/ upgrading personnel across departments
16. Method and Competence
Ad Agencies are Creative driven
Consulting Firms are Business, data & Knowledge driven
17. Work on Strategy
Ad Agencies Work on sales & marketing strategies
Consulting Firms Work on business strategies
18. Area of Influence
Ad Agencies Seek to influence a client’s customer through ads
Consulting Firms seek to influence al groups for the clients, specially stakeholders
19. Interaction with Client Team
Ad Agencies work with the marketing teams & processes, market stakeholders, customer base of a client, touring the marketing dept
Consulting Firms work with all departments in a business organization, meeting the directors, CXOs, touring the facility, auditing the finances
20. Larger Frame of Reference
Ad Agencies drive Brand mission & vision
Consulting Firms drive Organization’s mission & vision
21. Capacity to Audit
Ad Agencies May conduct a brand audit to identify marketing strengths & weaknesses
Consulting Firms Conduct overall business audits includes brand audit, finance audit, people audit, process audit, tech audit to identify strengths & weaknesses
22. Approach to Client’s Business Assets & Liabilities
Ad Agencies May not be invested in setting client’s business assets & liabilities
Consulting Firms Consider managing a client’s assets & liabilities a part of their scope of work
23. Approach to New Market Opportunities
Ad Agencies: May develop advertising solutions for new markets
Consulting Firms Predict , forecast ,Identify new market opportunities for a business & develop a feasibility & impact of its business plans for the same
24. Persistence Required
Ad Agencies Need to be persistent with the client in the face of demands for further options in design and creatives
Consulting Firms Need to be persistent when meeting resistance from top management regarding key decisions involved regarding business strategy
Ad Agencies do Micro level execution
Consulting Firms do Macro and micro level strategy, advice, recommendations and executions.
26. Main KRAs
Ad Agencies work on Marketing goals, marketing ROI, metrics of customer acquisition & retention,
Consulting Firms work on Business growth, year on year growth, feasibility study, business forecasting, business challenges, reducing turnaround time, minimising all types of operation TAT like buying cycle length/duration
27. Impact of Work
Ad Agencies Impact marketing & branding
Consulting Firms Impact business growth & performance
28. Ways to Get the Best out of Them
Ad Agencies Should be given creative freedom by the CMO & marketing team
Consulting Firms Should be empowered by CEO & MD to take all difficult decisions
29. Personal Interaction
Ad Agencies Should be encouraged to provide constructive criticism regarding existing brand communication
Consulting Firms Deserve to be allowed complete liberty to investigate the issues and records deeply & be trusted with data
So the Moral of the story:
Your decision about whom to hire for solving your business challenges after Covid-19?
Ad Agencies? Who give ideas for ads? Or Consulting Firms?
It’s time to rethink your old business models
30. Will you need better copy & better ads?
Will you need ways to grow your business?
You should not miss the top-performing blogs of the month: What Brand Custodians Ought to Know about Digital Marketing Agencies and Website Audit: Is Your Website Suffering from a Lack of Audit?
Let us know about your experience of working with ad agencies and consulting firms.
To know more come and visit our website www.thedigitalfellow.com. Thank you.