The return of the agency? And why.

The pendulum of economic cycles continuously shapes our professional landscape. Through decades of entrepreneurship amidst upheavals, booms and busts, I've learned to embrace change as opportunity, without fear. In my extensive marketing career, I've observed the recurrent shift from agency to internal operations. Only upon entering corporate leadership did I fully grasp the necessity of agencies, both from a creative innovation and thought leadership perspective, and also in navigating financial turmoil with the need to still produce. During COVID, the rush to internalize operations, bloating creative and marketing teams beyond necessity under the hope of a completely virtual retail experience, eventually gave way to human nature and the enduring allure of in-person experiences, challenging assumptions about consumer behavior eventually won over.

Now, emerging into our first 12-18 months since the grip of the pandemic, economic realities loom large. High prices are ubiquitous; inflation, employment, and interest rates paint a sobering picture of the global economy post the past 20+ years of cheap lending. While enterprise-level brands still face the pinch, their ability to streamline is baked into the flooding redundancies afforded by large organizations. But this pain is all too familiar and real for brands that lack bloat to shed, particularly for small and midsize businesses (SMBs) competing head-to-head with their behemoth counterparts for market share. Regardless of size, all companies face similar infrastructure constraints, prompting a critical decision in this era of hybrid work, expensive dollars, and shifting consumer experience expectations. What are companies, large or small, to do about the economic uncertainties of the future? To blindly staff as if the cheap money fountains will begin to pour riches into our economy as in years past is a foolish and hopeless assumption based on any economist's projections for the next 5 years. So what are brands to do: expand internal teams blindly, leverage agencies, or perhaps balance both equally?

Drawing from experience, I could see the rise of the need for brands to rely on agencies more heavily in this climate, and here's why. Agencies offer unwavering client focus, operational ease, and access to top-tier talent unencumbered by internal politics, on-demand access...the list goes on. When bandwidth is limited, agencies offer a convenient solution to navigate complex challenges effectively, efficiently, and quickly. Also, the hidden value to companies when it comes to agencies is the cost can serve as a valuable expense when navigating the world we live in now of the expensive dollar…G and A expenses that have no strings attached…I think it's pretty clear. Consider this perspective when seeking assistance in navigating uncertain times.

When you're a smaller company with limited resources and need to compete with larger companies that still have robust, dedicated marketing teams, there are a few strategies you can employ to stay competitive:

1. Focus on your niche and admit where you need help: Identify where your team is strongest and focus your efforts on what you do best, narrowing the focus of your internal staff and providing space to work with specialists/agencies to help tell your story.

2. Leverage the hell out of your social media: Social media platforms offer cost-effective not free, ways to reach and engage with your audience. Create valuable content that resonates with your target market and use social media analytics to monitor and improve your strategy. This should be your primary focus, and please don't think that one or even two people can do this job, hiring a great small Social Media firm is a wise investment as they understand the intricacies and have the bandwidth to focus continually on your brand.

3. Collaborate with influencers: Partnering with influencers who align with your brand can amplify your reach and credibility. They can help you tap into their audience and boost your brand visibility. Again not something you should skimp on or think about without a strategy in mind, dollars spent on influencers should equal incremental dollars earned. It's not only a popularity contest but a profitability contest as well.

4. Outsource marketing tasks: Consider employing a dedicated marketing agency for specific tasks such as strategy augmentation, design, copywriting, or campaign management, etc. This allows you to access specialized expertise without the cost of a full-time team.

5. Utilize content marketing: Create high-quality, engaging content such as blog posts, videos, and podcasts that provide value to your audience. This can help establish your brand as an industry authority and attract potential customers.

6. Maximize email marketing: Not the sexiest, but email campaigns work and can be a cost-effective way to nurture leads and keep your audience engaged. Personalize your emails and provide useful content to build a loyal customer base. Email is a great way to engage your audience and provides an easy path for your brand to become more intimate with your audience. However, don't overdo it; being pushy or too persistent can also lead to losing customer trust.

7. Use your data to plan for the future, not justify the past: Utilize data and analytics to comprehend what's effective and what isn't in your marketing endeavors. My team employs an agile process when developing content, enabling redeployment of successful campaigns mid-funnel when data indicates a clear direction. Concentrate on the channels and strategies that deliver the most value to your business.

8. Offer exceptional customer service: Word of mouth is a powerful marketing tool. Providing outstanding service can lead to customer referrals and positive reviews, helping you compete with larger companies.

By using these strategies, you can maximize your marketing impact despite having a smaller team and still have the firepower you need to attract new customers, compete, and thrive.

About Gabe Goldman: At my core, I am a connector—a facilitator of synergy between people and ideas. I thrive on the alchemy of brand awareness, cultural resonance, and community engagement, seamlessly weaving these elements together to create experiences that resonate deeply with audiences. Whether it's shaping the initial vision of a brand or steering crucial decision-making processes, I find immense fulfillment in harnessing the intersection of creativity and culture to drive meaningful impact.

But perhaps what truly fuels my passion is the opportunity to share this journey with others—to inspire and empower individuals and organizations alike to embrace the transformative potential of branding done right. For me, there's no greater pleasure than seeing the ripple effects of a well-crafted brand strategy permeate through communities, sparking connections and fostering a sense of belonging wherever they go.

In essence, I'm a seasoned navigator of the brand landscape, driven by a relentless pursuit of excellence and a deep-seated belief in the power of brands to make the world a brighter, more connected place. For inquiries, please reach out to [email protected] or learn more at: http//:www.gabegoldman.com