When making a switch to a longer race distance, runners must ask themselves if the gear they have will work for the new training program, or if they will have to bring additional gear. For example, will the existing hydration pack be able to carry enough water for those extra-long 20-mile training runs?
B-to-b leaders are often left scratching their heads about what to do when they need to find a partner to execute a new type of project. They must weigh the options of finding an agency in a new category or having an agency they currently work with tackle a project that likely falls outside of their wheelhouse.
An example of this situation is expanding an influencer relations program to include analyst relations. There are specialist agencies that focus on this discipline, or you could look at stretching your current public relations (or media relations) agency to do this work. There is a delicate balance of getting more work from one partner vs. adding another partner to the inventory (and another group for your team to manage). The SiriusDecisions Services Model clearly shows how categories can overlap, especially in companies that use limited external resources.
The (unfortunate) answer to the question of whether to bring in a new agency is that there isn’t a cookie-cutter approach, because each situation is unique. There are pros and cons to each option – here are four considerations as you evaluate which will work best for you:
While there will always be the need to evaluate agencies on a one-off basis, we recommend that you also evaluate your agency mix on an annual basis. Doing this in lockstep with annual planning is a good idea to ensure the external resources you have can still align with your priorities for the year. Are there any other considerations you have when evaluating agencies for projects in adjacent spaces? If so, share them below!
B-to-B leaders are very similar to runners who are constantly looking for ways to outperform their competition. For ways to outperform in your role - and in your business, we recommend the information located here.
Cheri brings more than a decade of marketing experience to SiriusDecisions’ technology and services practice. Her background includes experience serving b-to-b organizations at communications agencies and tenure working within marketing organizations. She is a respected and results-oriented leader with a proven track record of moving people and programs forward. Follow Cheri at [email protected]