Finding The Right Ad Agency Is Like Getting A Hair Cut (Part II)

2. Evaluate: One part science, one part gut feeling

Once you have determined you have a project or campaign that could benefit from an advertising agency’s services...and once you have made your checklist of reasons to hire an agency--and once you have an outcome in mind, then you can begin the selection process. First, you need to round up a cast of characters.

Finding eight to 10 potential candidates won’t be difficult. Consult a variety of resources, including the Yellow Pages and the local chamber of commerce. Ask other credit unions. And search the Internet. Most advertising agencies have a Web presence. There you’ll find out how they market themselves. You should feel enthusiastic about the work you see, and at least some of the creative work should be in a style appropriate to your needs, expectations, and personal tastes.

Usually, online portfolios have snap and sizzle. But are they so overly designed that simple things are forgotten, such as contact names, address and phone number, success stories, and references?

If there are references, ask some pointed questions: Have you been satisfied with the agency’s work? Has it been a good investment? Did you encounter any problems when working with the agency? The more knowledge you have, the better equipped you’ll be to make the right choice.

A rule of thumb: The smaller your credit union, the smaller the ad agency you should seek; the larger your credit union, the more services you’ll need. But regardless of size, you might find these questions useful as you cull the eight to 10 potentials down to the handful you’ll actually interview:

• Do they know what a credit union is (if not, keep looking)?
• Do they have an interest in and knowledge of your business?
• Do they have the necessary credentials and experience?
• Do they present clear, creative solutions?
• Do they have good internal resources?
• Can you work well together?

Carnes adds that from an agency point of view, it’s helpful for a client to bring specific information to the initial meeting. This will help a client to know if the agency is a good fit. He suggests the following for the initial round of meetings:

• A clear set of goals to be achieved;
• Potential problems to be solved;
• A clear idea of the roles the agency is expected to fill;
• An idea of the overall budget;
• An idea of what levels of experience and resources will be needed; and
• An understanding of the competition within the marketplace.

"Provide the agency with the marketing plan for the project or for the year, says Vickey Morris, vice president of marketing resources for the Texas Credit Union League, Dallas. "Define what your expectations are in completing the projects in the plan. Don’t get caught in a time crunch that may lead to a desperate decision."

Selecting an ad agency is one part science, one part gut-feeling. Once you have done all the "scientific" work--you developed your checklists and brought in a few ad agencies to make their pitches--stir all that knowledge around and pick an agency you believe will make a good fit. The fit should be apparent. If not, perhaps you need to revisit the scientific portion of the process to identify and address any lingering reservations.

Terry Young is the director of marketing and communications for Southwest Corporate Federal Credit Union, Dallas, a $6 billion asset institution serving the financial needs of 1,200 member credit unions. He frequently hires and works with advertising agencies to promote Southwest Corporate’s image, products, and services. During his tenure with the Texas Credit Union League, he worked with Allyn & Co. to develop the award-winning "Stand Tall for Texas Credit Unions" campaign. He was a feature writer and reporter for the Los Angeles Daily News, the Dallas Times Herald, and the Cincinnati Post. During the last Ice Age, he wrote copy for an advertising agency that tried to sell toys and Buicks to cavemen. Contact him at youngt@swcorp.org.

Part two of Terry Young’s article, for the May creditunionmagazine.com, will cover the last two steps for selecting the right ad agency: 1) Estimate; and 2) proceed.