Things you should look for in an audit cover a range of areas, and an audit may not have ALL of these within it, but this can also help you to know what to ask if something is missing.
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If there are things that are incorrect, the why behind why it is incorrect and what to expect when corrected. For example, if they have brand and non-brand together, they should be able to very clearly tell you why this is incorrect and what to expect when it is corrected.
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A sensitivity outlook with a good/better/best case scenario. This is something you should put your agency to task with hitting these directional numbers. They should be able to give you a decent range of expectations relative to when they start.
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Their recommended strategy, tests, and what you should expect from the metrics. Many changes generally require some time to take hold and prove positive. Don’t let an agency hide behind “Oh, this has to learn”, but sometimes that is true. Especially if your prior signals are confirmed to be messy.
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A broad confirmation that your account is set up correctly. This sounds like a fake bit of work, but it's shocking how often accounts are set up incorrectly, tracking events incorrectly, or under-utilizing collectable signals. They should give you an account health check that runs through, making sure that you are using the technology to the fullest.
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A marketing strategy that really just looks like they are aligned with your brand. You should feel like this audit was specifically designed and completed for you, and avoids using “broad stroke” style language. They should know your hero products, your product economics, and be able to present you with a plan that you feel attuned with.
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They are setting up expectations for you to deliver as the brand hiring them. Agencies cannot usually do EVERYTHING on their own. The worst ones will hit you (as the brand) with surprise work and this will slow things down. If you need to go get a specific photoshoot done, you need to know. They should clearly articulate to you what they need from you to be successful. Many agency partners shy away from this, but really, for any firm to be successful, it's a tightly knit collaboration with them that makes a 1+1 = 3 outcome between you and the agency.
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Clearly addressing and calling out any limiting factors. This is especially true for brands in more sensitive verticals. For example, if you are a health brand, you may not be able to use customer data, optimized audiences, or custom audiences. This shows expertise in your vertical and the channel, and will ensure you are both aligned on what is and is not possible for the account.
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A clear and not shady contract. Review your paperwork here. Agencies should OWN nothing (unless you’re leasing creative from them) so make sure they don't make specific accounts for you that they own. Make sure the contract has clear and simple out clauses that you feel comfortable with. Toss a companies’ contract into your LLM of choice and tell it to review the contract as you being the client party and see what it says. Contracts are generally required, but anything beyond 3 months is pretty entrapping unless there are clear and obvious gives.
Want the full picture? Don’t miss Parts 1 and 2:
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Evan Padgett - 16 years operating in-house media teams for JustFab, ShoeDazzle, and Thrive Market. 5 Additional years as COO of an ad agency managing at peak, about $10MM a month in media. Hired and worked with Kim for several years. Over $1B in media managed over a 23-year career.
Kim Wright - SEM focused media buyer with 13 years of in-platform experience and approximately $500M in total SEM managed media. Heavy experience in DTC ecommerce and automobile.
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