When hiring a marketing agency, communication is key in order to ensure a successful partnership. Before even reaching out to an agency, business leaders should understand their KPIs and set goals associated with each one. Depending on the situation, contracts should measure hours, deliverables, or goals.
Hourly contracts are great for smaller budgets and projects with a clearly defined goal. Deliverables make sense when bandwidth is the primary issue and goal-based deals work for businesses looking for strong results and a creative partner. Goal-based contracts are usually more expensive but also more successful and are great for forming a partnership to drive growth.
When working with an agency, it is important to communicate your goals from the outset and treat them as part of your team. By understanding the nuances and advantages of each scenario, you can determine which situation will be most beneficial to your agency relationship and ensure you get the most out of your money.
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