Setup CEO Joe Koufman virtually sat down with Kristie Goshow, the Chief Marketing Officer (CMO) of Preferred Hotels & Resorts. The full conversation covers how her love for travel shaped her monumental career in hospitality and lodging, her leadership style aims to empower her team, and her ability to uncover opportunity in the most unlikely circumstances.
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What we know from love in movies and real life is that chemistry cannot be manufactured or taught. However, since marketing is a human-to-human business, and it is more effective for brands to select the right partner the first time, brand and agency representatives can learn to invest in people and develop objectives to form better partnerships.
Here are the steps to developing chemistry in a business partnership:
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Brands are seeking agency partners that are capable of delivering fantastic work...but, in an agency-client relationship, the capabilities of an agency are only half of the equation to make up a successful partnership.
The other half is chemistry.
How can marketing agencies use chemistry to find more opportunities with clients?
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There are over 120,000 agencies out there - and that’s just in the U.S. alone. Many agencies identify as “full-service” or “integrated,” but are they really? Have they demonstrated experience in every marketing discipline? Maybe they have…but what are they best at?
This obscurity, coupled with the fact that many agencies will say almost anything to win new business, makes it difficult for client-side marketers to discern whether or not an agency would be a good fit for their brand.
Cut through the clutter and assess potential agency partners’ performance capabilities instantly using the following tactics…
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When a client hires a marketing agency, the agency becomes a part of the team. However, when an agency begins to work with a client, there can be a disconnect between the two teams. What are common disconnects and how can both the agency and client-side marketers work to avoid them?
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The agency selection process is comparable to the dating process. Many suitors (the agencies) present their charm (expertise) in hopes of winning the heart (the business) of the client. But just because the business is won doesn’t mean the work is over. As a partner, the agency is required to support, communicate, provide results, and deliver on promises made. Any move outside of what is expected could cause the client to question the entire partnership.
Why do clients typically fire their marketing agency?
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How should leadership typically fill gaps in their team? Making this decision relies heavily on where the team’s gaps are located, the company’s current needs and budget, and industry.
Provide a marketing skills gap analysis to uncover the strengths and weaknesses of the marketing team and discover potential areas for improvement in the company.
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The average agency-client relationship lasts less than three years. Agency “breakups” generally happen when an advertising agency fails to communicate, respond, or provide results to their clients. However, sometimes clients stay with an underperforming agency. This is because hiring a new agency is a labor-intensive (and sometimes costly) process that involves countless pitches, endless planning, and tedious RFPs.
How can marketing leaders most effectively navigate evaluating their agency partners?
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The agency-client relationship is tricky - while some agencies dream big with grandiose ideas for executing a project or campaign, a brand may be constrained by strict guidelines and a limited budget. The absence of communication leads to a tense business relationship, and, potentially, a break-up.
Strong relationships are maintained by constant conversations about objectives and expectations. Here are 5 things clients wish their agency partners knew…
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The agency-client relationship is a two-way street that requires constant effort and a deep understanding of the other party. The best agency-client relationships have a healthy commitment to teamwork, communication, and the overall success of a project or marketing initiative. Sometimes it is difficult to see the operating reality of the other partner…That’s why Setup™ spoke with several agency partners to gather their perspective on what they wish their clients knew.
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When it comes to the summer season, marketing students look for full-time jobs or internship opportunities...and companies methodically craft their job descriptions with hopes of attracting top talent.
What qualities make up a good intern candidate? How does a company simplify the search and interview process? There is so much to consider when looking for an intern prospect…let Setup™ guide you.
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There are a number of paths a marketing executive can take when determining who and what will guide a marketing strategy. Choosing a marketing agency partner can depend on multiple variables including team capacity, capability, and situation. Though the rapid growth and evolution of marketing has blurred the lines of different “agency” types, it's still helpful to note the key differences between them.
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