Risk management should be at the core of every organization’s operations. Marketing agencies, in particular, should prepare for both expected and unexpected risks. Unfortunately, most marketing agencies focus on their strengths and product development at the expense of risk management.
At every phase of its business operations, a marketing agency should consider how it conducts business, the third-parties it deals with, and risks that arise from such dealings. Some of the risks that marketing agencies face include:
- Advertising risk
- Inadequate marketing strategies
- Poor branding
- Questionable affiliations
- Poor brand value and perception
That said, here’s how a marketing agency can tackle the risks it faces:
Make Your Business Operations Agile
Marketing agencies ought to regard agility as a crucial component of their risk mitigation strategy.