Analysis
Summer 2017 / Issue 54
Investing in Your Agency is
Investing in Your Business!
The negative trend of reduced
budgets for marketing and PR
agencies in our region discourages
agencies’ continuous development,
reducing the quality of their services
to clients. While advertisers have
been “tightening belts” for a longer
period, the practice has intensified
noticeably in the last two years.
Agencies are forced to walk on thin
ice, negatively impacting their work
on behalf of clients.
But while considering whether to
lower the budget for the agency that
works for them, companies should
also consider that lower operating
budgets reduce their agency’s abil-
ity to attract the best talent in the
industry. And talent is needed to
help companies communicate in a
way that will differentiate a product/
service in the eyes of consumers.
Tougher competition or market
challenges shouldn’t be a justifica-
tion for fewer or more rigid commu-
nications. Instead, they should be
a strong motivation to invest in the
company’s whole marketing mix and
communications strategy. Without
this investment, company efforts are
unlikely to bring optimal results.
The creative industry drives the
economy in each country; its impact,
its influence and development are
essential for business success. At a
time when production lines are get-
ting their own brand extensions like
never before – when one product
comes in 10+ varieties to suit differ-
ent customer profiles – the value of
agencies’ work is bigger than ever.
Smaller, specialized agencies still
have a role to play, however, only
well-equipped teams of experts cov-
ering every segment – from research
administration to strategy prepara-
tion, segmentation, design, media
planning, advertising and PR – can
bring holistic results to companies.
Boris Eftimovski,
Marketing and PR
Consultant, Founder of
www.Marketing365.mk
Of course, advertisers can choose whether to engage a num-
ber of specialized agencies or one full-house agency; both
choices have their advantages and disadvantages. Either way,
cost cutting on the human resources that shape one’s creative
approach is not a winning strategy. Advertisers need to stim-
ulate agencies of all sizes to attract and develop their overall
creative potential.
Finally, when advertisers are motivated solely by the lowest
price offered on the market, they are not thinking long term. As
a company partner, one’s agency needs to be sustainable and
stable. If your agency can’t survive in the long run, how will they
help ensure yours will?
AmCham Macedonia Magazine
19