In the new world of inbound marketing there are a handful of strategies that are paramount. These strategies can also be useful when researching competitors. Using email and social media, and surveying the content landscape, will give you an immense amount of knowledge about your competition. Here are some quick tips on understanding who you’re up against:
You may be a sales genius and love selling and creating advertising pieces. Though, no matter how good you are, there are many channels and factors to master in this area of business alone. It’s hard to be a true master on top of all these trends and best practices, and run the business and raise funds well too. Your time may be best spent on other higher level tasks. Even in the beginning your time will be better spent simply closing hot leads than on marketing material.
COMMENTARY Marketing is like sex -- everyone thinks they're good at it. In reality, of course, very few really get it. So few, indeed, that I had to struggle to come up with 10 companies that really know what they're doing and deliver the goods, year in, year out. Oddly, coming up with 10 companies with insanely bad marketing was far easier. Go figure.
Marketing has changed more in the past 10 years than it had in the previous 100—launching us out of the age of TV spots and print ads and into the age of websites, online video, social media, and Google. Consumers today are connected to the web 24/7—U.S. adults now spend upwards of 6 hours per day consuming digital media, and that doesn’t count those whose jobs are internet-dependent.
In the world of social media it pays to have an overall strategy that is tweaked depending on the social channel you are working in. For example, the way you market on Twitter will differ from the way you market on LinkedIn or Facebook. They are different sites with different purposes and your messaging needs to reflect that. One strategy, however, that does work across them all is using photographs. Posts with pictures get higher clicks and engagement across the board. And because social media is all about getting your content and your messaging seen, timing is important. According to sumall.com the key is to catch people in their downtime, early in the morning, on their breaks or at night. Here is what they recommend for timing:
For example, Google Trends shows you what search topics are popular right now. If you have an AdWords account, you can use Google’s Keyword Planner tool to learn more about search volume for specific phrases, as well as to generate new keyword phrases. Google also has another tool, Correlate, which lets you look at searches that correspond to real-world events.
The landscape of global agencies has become crowded and confusing over the last 10 years. While huge agency networks and holding companies are the vanguard, there has been a convergence of consulting firms and tech giants entering the frame to compete as well as in-house agencies. All of this continues to blur the line between what is considered an agency and who is best suited to help your global marketing, advertising, and digital initiatives.
Irving, TX-based MultiView is a digital marketing agency that specializes in building B2B digital publishing solutions. Since its founding in 2000, the company has grown to a large operation with more than 500 employees between their headquarters and offices in Lehi, UT and Ontario, Canada. Multiview provides digital strategy, social media marketing, and other digital marketing services for their clients.
The 4th biggest agency under WPP’s GroupM, MEC is a leading media agency with clients like Vodafone, Netflix, Paramount Pictures, Marriott, Chanel, GE and Xerox. The agency has over 5,000 highly talented specialists in 90 countries around the world. MEC and Maxus (number 45 of the list) will soon merge to make a new agency called WAVEMAKER. Learn more.
Find the best search keywords. What we are looking for are terms that get a lot of searches and are very relevant to your business. For instance, small business online marketing is a very targeted term for our business, but it gets fewer searches than just marketing. Using the two scores we now have, we can create a column that gives a total of the relevance score and the volume score. Create a final column called Total Score and have it be equal to the sum of twice the relevance score plus the volume score. (You want to double the relevance score since it is more important than the volume score because there is usually a lot of competition for the high volume keywords and it is not worth going after unless they are very relevant to your business.) Now sort by this column to give you the terms at the top of your list that have the highest combination of search volume and relevance. In the image below you can see what terms became the ones I should focus on for my example. Often the most relevant terms have the highest volume, but there are usually some interesting findings as well. For instance, for me the terms contemporary marketing, search engine marketing company and sale lead all got a 3 for a volume score, but because of their high relevance, they are in my top 30 search phrases to focus on.
With over 15,000 employees and 37 studios around the world, IBM iX is serving as their clients global business design partner. The agency uses IBM Design Thinking principles to deliver progressive ideas not just for design but for the solving of business problems. IBM iX calls the Atlanta Falcons, Migros, Knorr, Purina, DWS and 1-800-Flowers their clients.
Here is an important aspect to consider every time – or maybe six aspects: it’s called PESTEL and stands for the political, economic, social, technological, environmental, and legal aspect of the target market. A few years back it used to be just PEST analysis, but recently, there has been increasing pressure to upgrade with Environmental and Legal aspects as well.
Southwest Airlines. By focusing on the customer, doing things the right way instead of the way they've traditionally been done, allowing its staff to have a little fun on the job, flying short-haul routes to regional airports, and becoming the first no-frills carrier, Herb Kelleher broke the airline industry mold and made deregulated air travel profitable. Southwest (LUV) broke the mold. And not only that, but hey, Bags Fly Free.
mc Group is the largest independent PR and advertising agency in both, Germany and Europe. They have worked with big brands such as Visa, Vodafone, Gazprom, CNN and Real Madrid to name a few. With more than 80 offices worldwide, the German communications agency is the only agency to be present in all 28 EU Member States and the economic centers worldwide.
Joint ventures and partnerships are agreements you forge with other organizations to help reach new customers or better monetize existing customers. For example, if you sold replacement guitar strings, it could be quite lucrative to partner with a guitar manufacturer who had a list of thousands of customers to whom it sold guitars (and who probably need replacement strings in the future).
A marketing plan requires the involvement of all levels of management in the planning process. So, sharing a Marketing plan proposal among executives helps ensure that everyone is on the same page. Smooth communication and a common path for a cross-functional team are really essential. This will also help reduce the number of conflicts among individuals and departments.
Marketing companies can help your business develop a strategy, plan and manage campaigns or may provide specific services, such as telemarketing or market research. You can retain their services for a specific project or have them do work for you over a period of time. You also can hire individual consultants or freelancers with specialist marketing skills to plan and manage projects.
Mitosis Consulting provided full-cycle marketing support for an enterprise analytics platform. They developed marketing automation and sales CRM solutions to diversify their marketing approach and grew their in-house marketing team with strategic hiring suggestions to encourage self-sufficiency. The project achieved 305% monthly revenue growth over the course of the partnership.
The plan should cover one year. For small companies, this is often the best way to think about marketing. Things change, people leave, markets evolve, customers come and go. Later on we suggest creating a section of your plan that addresses the medium-term future--two to four years down the road. But the bulk of your plan should focus on the coming year.
The downside to this model is that unless you have great insight into the operations end of the client’s business, it’s going to make billing them extremely difficult. For SaaS businesses and companies with complex sales funnels, this pricing model would be a complete nightmare. I would only suggest this model for ecommerce or clients selling things directly. That way you can assess how many sales you have driven and do the math that way. Another downside to this is the fact that it relies heavily on the product being sold. If there is a significant profit margin, then it makes sense. Otherwise you may be giving yourself unnecessary headaches.
Marketing Maven worked with a Los Angeles-based production company to elevate its social media presence on Facebook, Instagram, and Pinterest. Marketing Maven designed social media ads and shared relevant content to increase the production company's followers and engagement across all three social channels. After about 12 months, the production company had 17,000 followers on Facebook and its Instagram ads garnered 1.5 million impressions.
The marketing plan shows the step or actions that will be utilized in order to achieve the plan goals. For example, a marketing plan may include a strategy to increase the business's market share by fifteen percent. The marketing plan would then outline the objectives that need to be achieved in order to reach the fifteen percent increase in the business market share. The marketing plan can be used to describe the methods of applying a company's marketing resources to fulfill marketing objectives. Marketing planning segments the markets, identifies the market position, forecast the market size, and plans a viable market share within each market segment. Marketing planning can also be used to prepare a detailed case for introducing a new product, revamping current marketing strategies for an existing product or put together a company marketing plan to be included in the company corporate or business plan.