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What is a Marketing Company?
As its name suggests, a marketing company is a company that provides marketing solutions, services or advice to other businesses on enhancing growth, sales and profit. Marketing companies help their clients to reach potential customers, increase overall exposure, building relationships with their target audience, by creating and implementing a marketing strategy born out of extensive market research.
As more marketing companies emerge, people can often hardly distinguish between what ‘Company A’ does and what ‘Company B’ does. Simply put, the main objectives of marketing companies are:
- To boost customer acquisition of the client, and
- To increase conversion optimisation rates
It is also important that the marketing company helps their client retain those customers. Due to the sensitive role of marketing companies, selecting the best marketing company to work with is of the utmost importance. The reason for this is that a wrong choice will likely cost time and money.
What are the things to consider when selecting a marketing company?
Finding the right marketing company to partner with can be like finding a needle in a haystack. For this reason, you must spend a good amount of time finding the right one. Also, this is why there are many marketing companies to choose from. Since each provides different services, there is a wide spectrum to look at. To start with, conduct adequate research. Then, make a budget to further help choose the most suitable service for your company.
What are the different types of marketing companies?
While some companies may hire more than one marketing company, there are several types to choose from. Although the idea of hiring multiple companies is great, it is important to select the best that specialises in multiple marketing types. A few examples of marketing companies are digital marketing companies, telemarketing companies, and marketing communications companies.
What is a digital marketing company?
Digital marketing companies help you leverage the full potential of social media and the internet. If you have an e-commerce service or website, they will help you improve the content and visitor participation. In a bid to constantly engage your prospects and customers, these companies will offer good advice on the methods of communicating effectively with your customers.
A wide array of activities fall under the umbrella of digital marketing, some of them are:
- Search Engine Optimization (SEO)
- Content Marketing and Creation
- Social Media Optimization (SMO)
- Pay-per- click (PPC)
- Affiliate Marketing
- Website Designing & Development
- Conversion Optimization
- Email marketing
- SMS Marketing
Role of Marketing Companies
A marketing companies does some or all of the following activities for your company. The key aims of marketing companies are to build or increase awareness about your brand, increase traffic to your website or shop, ensure that this traffic is converted into sales and profit in the form of new customers, maintain your present customer base and increase your brand visibility to search engines and customers.
They also organize and implement marketing campaigns to ensure that all these aims can be achieved. Before creating a market campaign, companies carry out marketing research in order to get a picture of the current marketing techniques, what works and what does not, the targeted demographic and their characteristics and the objectives the client hopes to achieve with the marketing campaign.
Marketing companies implement marketing campaigns through the use of highly effective marketing strategies. They analyze the client’s need as well as their business structure and budget and identify the strategies with the highest chance of maximizing return on investment (ROI) and bringing about the best results. During the campaign, the marketing company appraises the marketing results. They use the data to identify which strategies worked well and the ones that did not, based on their evaluation, they modify campaign strategies where necessary.
Marketing companies offer a lot of flexibility. A client can choose to use some specific services, such as market research or search engine optimization (SEO) or all of their services. This may be for a particular project or for a period of time (i.e; until we achieve 70% visibility).
What do marketing communications consultancies do?
Customer magazines, newsletters, and brochures are examples of communication materials. What marketing communications companies do is plan and develop materials to aid marketing campaigns. Since the presence of visuals is vital to the success of any marketing campaign, these companies provide different varieties of design and writing that will suit your product. In addition, they provide advice to help fuel the launch of a new product.
Who will manage my account in a marketing company?
When hiring a marketing company, you must ask certain questions. And whatever the response is, it must match your need for the service in the first place. The most appropriate answers should satisfy questions like:
- Will there be a manager?
- Is there a team?
- How many years of combined experience do they have?
- Have they worked with similar firms in the past?
How do I compare production and retainer needs with those of other clients?
When browsing through a list of marketing companies, it is important to look out for certain responses. A good marketing company should tell you that you are within their range of workload and fees. But they should also state that they have different clients and can meet your company needs. Furthermore, you should be well assured that they will make up for any indecision.
How does a marketing company handle client communication and collaboration?
A good marketing company assigns an individual who will deliver day-to-day reports to their clients. Since it’ll be two-way communication, the day-to-day contact person from the client’s side will also be responsible for this communication.
In addition, monthly client meetings should be held and handled by the VP of the business, who will communicate with the marketing company. As soon as the necessary information is provided, collaboration should begin for the implementation of the marketing campaign/strategy.
Also, the marketing company should work hand-in-hand with the clients at every stage. For instance, if the clients are planning to launch a new product on the market, the marketing company should work with them from the idea stage until it blooms into a physical product.
What are the key performance indicators in a marketing campaign?
An effective marketing company will examine the percentage of income that you receive from your customers. Also, they will examine customer attrition and the number of new customers. Depending on the duration of the project, you should meet once every month with the marketing company to discuss strategy and its effectiveness. With a great marketing strategy, you can create an exceptional brand and improve your performance metrics.
What are the reporting practices that good marketing companies use?
When you ask a marketing company about the frequency of reports and the content of the reports, specific answers are important. A good marketing company sends monthly reports that encompass measurable results, activity, and objectives of the project. They also inform you of work in progress. These metrics are important for you to ascertain how your money is spent.
The Essentials of Marketing Campaigns
Marketing campaigns are promotional strategies used to create awareness and increase sales of goods and services. They make use of a variety of media such as print(newspapers, magazines, flyers, posters, pamphlets), radio, television, and online platforms. Campaigns can also include demonstrations, massive discount programs, door to door advertising, and video conferencing.
Marketing campaigns can be purely digital. A detailed online strategy is used to promote a business or service, increase customer engagement, sales, traffic and profit gained from conversions.
Different methods used in a marketing campaign
A lot of research, planning and implementation is involved in ensuring that a marketing campaign is successful. A detailed sequence of steps to be adhered to during the campaign is essential for bringing about best results, it can not be haphazard, all the steps or strategies to be used must be tied together into one dedicated plan.
- Creating a mail list or newsletter
- Discounted sales or promos
- Buy one get one free
- Social media blitz Free products and gifts
- Television adverts
- Radio jingles Using social media influencers
What are the essentials that make a marketing campaign successful?
Define and align clear marketing goals
The goals to be achieved with the campaign should be clearly stated and a cohesive plan that links all parts of the business should be put in place.
Market research gives you data that allows you to understand your potential customers. It allows their habits, behaviors, spending patterns and more to be understood.
Set a precise definition of success
When will the marketing campaign be considered successful? What is the end result we are aiming to achieve with this campaign? This involves knowing what outcome will be satisfactory – an increase in sales and profit, an increase in follower count to 10,000, achieving 70% visibility or getting my posts to consistently rank high with Google and other search engines. Whatever your definition of success is, know the key performance indicators and which metrics (sales, page traffic, social sharing percentage) to be measured.
Determine your strategy(ies)
Campaigns are not a one-size-fits-all event. The digital channels and traditional marketing channels to be used must be determined to ensure that the strategy to be used is effective in communicating the necessary message to potential customers and bringing about the desired result.
A marketing campaign is usually a mix of various channels of communication and intense planning for how each channel is to be used must take place. If the channel to be used is email marketing, in-depth planning about what content the mails should contain, how they should be sent, to whom and so on requires in-depth planning. This same process must be done for all the channels and strategies to be used.
Monitoring and Feedback
The progress of the marketing campaign must be tracked and monitored to make sure that the campaign is going according to plan and yielding the desired result. Customer reviews are also a good way to test the effectiveness of your campaign and attract new customers.
What will the first 120 days of work with a marketing company look like?
A good marketing company must provide suitable answers for their clients. If you’re told that the first month is all about getting familiar with you and your business, this is great. Furthermore, the second month should focus on outlining a great plan for the client in question. In the third month, the implementation of the said plan should commence, and you should be able to see the results in the last 30 days of the work period.