Today, many companies fall into the same, age-old trap when it comes to their Communications Program – hire the agency with the big name and subscribe to the same types of services as their “ancestors” did.
You can’t necessarily blame marketing executives for doing this. The model is time-honored and is probably recommended by VCs or others with influence. As they say: “you don’t get fired for choosing IBM.” Unfortunately, it may not be the best option for the business.
For the creative and open-minded executive, there are a host of impactful, flexible and strategic options available today. In fact, many are realizing that the old model just isn’t suited for today’s fluid business climate as it doesn’t yield the best results and typically lacks a compelling ROI.
While every organization has different needs, executives should be aware of the options available when making the choice on behalf of their company.
- Traditional Agency Model – This is the tried and true approach that works for many companies. Potential downsides include: excessive cost (to cover excessive overhead), inflexibility in terms of services provided, and access to the people and the experience you “bought into” when selecting them.
- The In-House Choice – Benefits include an insider’s knowledge of the business and culture, but often times this approach still must be augmented with external resources (firm, contractors) to drive an effective program.
- The Sole Proprietor/Virtual Team Model – Sometimes finding an “individual” with deep domain expertise in a given industry that is equipped with a virtual team of equally-qualified professionals can provide an agile organization with the experience, support and flexibility they need to achieve their goals. When done correctly this approach can provide the best of all scenarios: executive-level counsel, a drive to succeed, and a price that doesn’t jump off the spreadsheet at your CFO.
With today’s wealth of options, executives should carefully evaluate which approach is right for their business; and they should also be confident enough to veer away from the norm. While you might not get fired for going the traditional route; going with the less traveled approach might just make “all the difference.”
If you would like to discuss which option is right for your organization, please contact Guyer Group for an assessment of your communications needs as they relate to your business realities.