Edwin Miranda, the CEO and Founder of KOI IXS, writes about the differences between an advertising agency and an advertising consultant. He explains the difference in approach that both have and the benefits of a consultant over an agency.
An ad agency tends to be stuck in an older model of doing things: All that matters to an ad agency is that their ad hits as many platforms and people as possible. A consultant, by contrast, is more concerned with making a lasting and meaningful impression with their ads. Where an agency would call an add a success if it reaches a lot of people, a consultant understands that making a bigger connection with customers is more important than sheer volume.
According to Edwin Miranda’s breakdown, a consultant is more likely to take a creative and original approach to creating new content, whereas an agency would be more likely to stick to the tried-and-true methods they are already comfortable with. This means that a consultant is more able and likely to think outside the box and try to find a way to reach customers. With this approach the consultant tries to use ad time to convince customers to spend their dollar on the consultants’ clients business. An ad agency is more likely to simply try and get customers to remember the brand’s name, but not necessarily do anything additional to persuade customers that the advertised business is the right one for them and their dollar.
Edwin Miranda points out that consultancy is a growing force in advertising. In 2016, of the top 10 ad agencies in the world, two of them were actually consultancies. In 2017 the number of consultancies on that list doubled to four. This proves that customers and businesses alike are seeing the benefits of hiring consultants.
Contact Edwin Miranda: ideamensch.com/edwin-miranda/