On this month’s episode of The Agency Scoop, Maggie and I discuss the state of our economy and how this is affecting companies and their marketing efforts, in house versus agency marketing services, and the rollout of our new client structure with our special guest, Jess Budde!
Is Marketing Going Away For Businesses With the State of Our Economy?
Many sources and news articles are pointing toward a potential recession in our economy. With the anticipation of a recession, many companies are beginning to cut spending to better control their budgets during this challenging time.
Some companies argue that one of the first areas of spending to cut would be the marketing budget. However, Maggie and I both agree that if you’re seeing results and revenue within that spend of marketing efforts, then why should the budget be cut for those efforts?
Digital performance-based marketing by definition should drive revenue for your company so it’s important to optimize that spending during a recession so that the company doesn’t fall into a bigger hole. Cutting marketing spends that aren’t proving results makes sense. Cutting marketing spends that drive revenue doesn’t.
It’s also important to consider that many other companies have the same idea to cut their marketing spend. There’s less competition when everyone is cutting their marketing budgets and could lead to more bang for your buck in media spends.
Marketing Services: In-House Versus Agency
Hiring an agency can be a scary process, especially if the people on your in-house team have been with the company for a long time. However, with many job openings and vacant positions available in-house, it may be challenging to find the right talent for the work you are looking to produce.
We discuss that creative work can be better from the agency perspective, since most creative people that work in-house will end up getting bored from working on the same “client” all the time. With an agency partner, you’ll be able to get a fresh perspective which could result in a unique project design.
Introducing the New Client Structure with Jess Budde
You may be asking yourself, if it ain’t broke, why fix it? Jess describes it perfectly in one word – growth.
The agency started small with a flat structure, where everyone had their hands on every project. Now, this worked great when we were smaller, but with growth, we needed a change in our structure.
In this episode we talk through the various structures we have tried and how it has evolved over time. We are always looking for ways to get work done more efficiently and allow our teams (and our clients!) to feel better supported.
Want to learn more in-depth about this client structure journey? You can read the full blog post that Jess wrote here.
Make sure to listen to the full episode to hear more of our takes on trending news and what’s happening at the agency!
About The Agency Scoop
Each episode, we tackle a specific topic with another friend from Cypress North or pull in leaders from other companies. We’ll chat about what’s helping our agency grow, how we work with clients, things that bring us joy, and even the challenges we face. Please subscribe on your favorite podcast player to follow along!