Common mistakes people make while choosing their Marketing Agency | Digital Marketing Weekly Roundup | Neil Patel Digital India | Issue #29

This Newsletter is about the common mistakes people make when they buy marketing agencies. 

We have discussed, how to avoid these errors to ensure a smooth and successful acquisition. We will uncover key strategies such as retaining essential staff, conducting thorough research, understanding seller advantages, and comparing multiple agencies before making a decision. We have discussed every point in detail to help you navigate the acquisition process with confidence.

Key Mistakes to Avoid When Acquiring an Agency 

Keep the Founders and Key Staff

• Make sure the original founders and important managers stay for at least 1-2 years after you buy the agency.
• This helps transfer knowledge and maintain good relationships with clients.

Do Thorough Research

• Look closely at the agency's customer loss rates, customer value, types of clients, staff turnover, and what makes the agency unique.
• Check how they attract new clients and how long they’ve been in business.

Understand Information Gaps

• Know that the sellers usually have more information than you do.
• Take your time to thoroughly research and understand the agency to reduce this gap.

Compare Multiple Agencies

• Look at several agencies before deciding which one to buy.
• Make sure their financial records are audited and have lawyers check everything to avoid any fraud.

Check Customer and Service Details

• See how long they keep their customers, aiming for agencies that retain clients for over four years.
• Ensure they offer multiple services to each customer.

Top things you need to know this week

• Instagram adds notes on Feed posts and reels.
• Meta won't offer future multimodal Al models in the EU.
• Snapchat launched the Snap Sports Network, the next step toward winning Gen-Z with sports.
• X launches Trend Genius Ads, turning ad on-off based on conversation velocity.
• You can now add up to 20 audio tracks to a single reel.
• Instagram is testing "Super Likes" for Stories.
• Meta rolling out Overlay ads for Instagram Reels.
• First, Upload "+" got replaced with reels tab for a while, now IG is testing DMs ""
• tab in the center of navigation tab.
• Meta publishes new guide to holiday marketing. (On their business website)
• Meta adds custom offers to Instagram ad CTAS. It looks like "Shop Now" -10% off"
• WhatsApp launches "favourites" for quick access to contacts and groups.
• X launches ability to request Community Notes for a tweet.
• Meta is testing Al comment section summaries on Facebook.
• Meta decides to suspend its GenAl tools in Brazil.
• X's new "auto-advance" setting allows you to stop video auto-play.
• Twitter continues to work on Reply sorting design.

Graph of the week

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I hope you enjoyed reading our 29th edition of the Digital Marketing Weekly Roundup. Feel free to share your feedback with senthil@neilpateldigital.in Also, comment on what other sections you’d like to see in our Newsletter.