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10 Things to Look for When Shopping Around for a Marketing Agency

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As you could probably guess, marketing agencies are really good at marketing. This means they’re good at selling themselves – convincing you you need them on your team ASAP. And you know what? You probably do. I just want to make sure you find the right marketing agency, and not fall for some flashy sales technique.

Here are the things you should actually look for when you’re shopping for a marketing agency.

1. Relevant Experience

If you were hiring for a permanent team member, what kind of background would your ideal candidate have? The same industry as yours? A similar team size? A company with comparable goals or obstacles? All of these things matter, and an agency worth its salt will be able to check all those boxes in a way no individual can. What’s more, the agency you hire shouldn’t just have this experience, but case studies to prove their relevant successes. The point of an agency’s portfolio isn’t to impress you with the big names on its roster – it’s to demonstrate compatibility with your objectives.

2. AI-Enablement

Artificial intelligence can analyze large volumes of data more quickly and accurately than any human, uncovering patterns, trends, and insights that can drive smarter, more effective marketing strategies. It can help personalize customer interactions, predict future trends, and automate routine tasks, freeing up more time for creativity and strategy. Soon, AI will be essential for an agency just to keep up, but for now, it’s the secret to giving your brand a competitive edge.

3. Innovative Technology

Technology innovation goes beyond just AI. In this rapidly evolving digital landscape, a solid marketing agency needs cutting-edge CRM software, social media management tools, SEO resources, graphic design software, and more. When screening for a marketing agency, ask about what tools they use. Ideally they’ll say names you like, or challenge you with new ones that you can discover.

For example, if you need an agency to help with SEO, they may say they use a tech brand you already know you can trust, like SEMrush or Ahrefs. If they say something you aren’t expecting, press them on why they trust that option over the competitors.

I started a venture capital firm called Hawke Ventures specifically to give my staff a competitive edge in this department. We can leverage technology that other people don’t have access to because of investments made in the future of marketing.

4. Performance Results

Too many agencies are full of hot air (my editor is making me say “hot air” instead of what I’d prefer) when it comes to creative campaign pitches. Gone are the days when a marketing agency can observe that “Geico” sounds like “gecko,” collect its paycheck, and be gone. Now, brands need real results. Your marketing agency should prioritize profit and treat your KPIs as its own. As I like to say, the bottom line is your bottom line.

5. Value

You don’t need to be told that price matters when it comes to finding the right marketing consultancy. You have a budget for a reason. That said, to really get the best fit for your business, you’ve got to reframe that qualification from “price” to “value.” Don’t just look at how much you’re spending, but how much you’re getting for that amount. Is the agency staff monitoring your account 24/7? Are you able to contact your reps anytime, or are your needs only addressed during scheduled meetings?

6. A Partner Network

When you hire a marketing agency, you should get so much more than one company. A good agency has connections with industry leaders in all aspects of ecommerce and lead generation. Sometimes the agency is leveraging its partners by default on certain services. Other times, it can hook you up with exclusive rates if you decide to broaden your tech stack.

7. Healthy Culture

This is a big one that a lot of people don’t think about until it’s too late. The agency’s work culture matters to you, even if the staff aren’t your employees. Why? A healthy office environment and work-life balance ensure happy and consistent representatives. Agency life has a reputation for driving marketers into the ground, which leads to high turnover. If your designated rep keeps getting swapped out, you will eventually leave the agency and then back at square one. Read Glassdoor, look for “Best Places to Work” awards, and so on. If the staff of an agency is happy, you’ll be happy.

8. Understanding of Your Brand

Besides case studies – often hand-picked to make the agency look as good as possible – how do you ensure that a marketer genuinely understands your brand? Before any paperwork is signed or money is exchanged, there should be an opportunity to essentially check the vibes. My agency has a free consultation, but whatever it looks like, there should be a designated space to explain the business’ vision and mission statement and its unique obstacles. You’ll be able to tell within the conversation whether the agency understands your brand or is just trying to make a sale.

9. Industry Awareness

You’ve already screened to make sure the agency has an understanding of your own brand and marketplace. Now it’s time to make sure they have an understanding of the marketing landscape. Go to some marketing blogs and get a sense of where the tides are turning. One example right now could be Chrome’s shift to stop using third-party cookies. In your preliminary calls, ask the agency what they’re doing to get ready for those kinds of shifts in the marketplace.

The same goes for smaller trends. How are they responding to the increased CPMs on TikTok? Do they see those trends in their own data? If you’re reading these questions and you have no idea what I’m talking about, that’s fine! Just read this paragraph to the agency you’re trying to hire and get them to explain it to you.

10. Room to Grow

When you hire an agency, you’ve obviously made sure it’s a good fit for your specific needs. For example, if you hire an agency for its lifecycle management, you’ve likely done your due diligence to ensure they’re the best at email or SMS marketing, but do you have a vision for where they could go from there if successful? Does the agency?

Every agency should be able to lay out a 30-day and a 90-day forecast. What about plans for the year mark? Two years? Five years? My company keeps flexible contracts so that there’s room to grow as people see success with their initial needs. Was lifecycle marketing so successful that you want to port that kind of messaging into your social media? Maybe social media is so winning that you decide an agency would actually be a big help on PPC efforts.

The Best

If you’re a marketing agency, you’d do well to skim this list and ensure you have answers for the kinds of questions brands may have. I know I get my employees.

My hope is that if you’re reading this you’re not a marketing agency, but a brand. This is for small businesses that need an outsourced CMO, or the CMOs that need some support during financially tough periods. If you want to get the most out of your marketing dollars, you need an agency with relevant experience, AI enablement, technology resources, real results, and all these other items that prove an agency is worth its salt.

Published First on GritDaily. Read Here.

Featured Image Credit: Photo by Christina Morillo; Pexels; Thank you!


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Fintech Kennek raises $12.5M seed round to digitize lending

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London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Politics

Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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Politics

UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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