A marketing plan can be adjusted at any point based on the results. If digital ads are performing better than expected, for example, the campaign budget within a campaign can be adjusted to fund the higher performing platform or the company can initiate a new budget. The challenge for marketing leaders is to ensure that every platform has sufficient time to show results. Digital marketing shows results in near real-time, whereas TV ads require rotation to realize any level of market penetration. In the traditional marketing mix model, a marketing plan would fall under the category of "promotion," which is one of the four Ps, a term coined by Neil Borden to describe the marketing mix of product, price, promotion, and place.
A digital agency understands the value of investing in advanced technology, as well as in highly skilled web developers, programmers, digital marketing professionals and SEO experts. With advanced skills and technology at their fingertips, a digital agency can offer multiple digital solutions to their clients, along with traditional creative design and branding services.
It's also important to understand exactly what motivates customers to buy. Are your clients looking for savings or a way to simplify their lives, for example, or are they just shopping for pleasure? Ask yourself why they would buy your product or service. In the same vein, you may want to know what keeps customers away from your competitors’ products or services. Are they too costly? Do they lack something unique? These insights will help you develop a product or service that outshines the competition.
The classic quantification of a marketing plan appears in the form of budgets. Because these are so rigorously quantified, they are particularly important. They should, thus, represent an unequivocal projection of actions and expected results. What is more, they should be capable of being monitored accurately; and, indeed, performance against budget is the main (regular) management review process.
FleishmanHillard is one of the world’s three biggest PR firms and is a member of Omnicom Public Relations Group. Founded in 1946 by Alfred Fleishman and Bob Hillard, the St. Louis born agency provides reputation management, public affairs, brand marketing, digital strategy, social engagement and content strategy services. They currently serve as PR agency of record for Bose, GM, Russell Stover, Western Union and more.
To bring some clarity to the global agency marketplace, Agency Spotter has put together the 50 largest marketing agencies according to estimated yearly revenue. This list represents the 50 biggest agencies and not the agency networks or groups like WPP, Publicis Group, Dentsu Inc, Interpublic, and Omnicom Group. If you’re looking to find your next marketing partner, keep in mind that the most helpful agency may not be the biggest or most well-known one your budget can afford you… Thankfully, Agency Spotter allows you to search for an agency by size.
Plan, organize and direct daily operations, Establish and implement policies and procedures, Assign, co-ordinate and review projects and programs, Plan, develop and implement communications strategies, Establish distribution networks for products and services, Plan and direct publicity or media events, Plan and direct advertising and marketing campaigns, Plan and direct market research studies, Oversee the analysis of sales data and information, Oversee the preparation of reports, Prepare re...
One of the first questions we receive is how to assess how much your digital marketing agency is currently worth. There are many ways to measure the value of a digital marketing agency. The simplest and most widely used variant is profit margins. Numbers vary widely both in averages for a digital-only agency as well as the true calculation. For our purposes, we work off of both a multiplier on EBITDA as well as general Net Profit margin. Generally speaking, agency buyers are looking for companies that boast a profit margin of at least 17% but we’ve seen successful acquisitions for much less profitable agencies that boasted IP value, headcount strength, revenue growth or plain geographic diversification. Regardless of if you’re pursuing M&A, if your agency profits reach or exceed that number, then you’re in great shape. If not, there are ways to improve this but don’t be afraid to determine the other methods of evaluation with us or another acquiring group.
Knowing your unique selling proposition (USP) and marketing that USP is essential to beating the competition and solidifying your company’s value in the marketplace. Your USP ties in closely with your brand and your content because those are the conduits your USP will be communicated through. And communication is key. Clearly state your USP and do it often, on your website, in your emails, through your ads etc. For tips on formulating your USP read The Ultimate Guide to Finding Your Unique Selling Proposition.
One of the main purposes of developing a marketing plan is to set the company on a specific path in marketing. The marketing goals normally aligns itself to the broader company objectives. For example, a new company looking to grow their business will generally have a marketing plan that emphasizes strategies to increase their customer base. Acquiring marketing share, increasing customer awareness, and building a favorable business image are some of the objectives that can be related to marketing planning. The marketing plan also helps layout the necessary budget and resources needed to achieve the goals stated in the marketing plan. The marketing plan shows what the company is intended to accomplish within the budget and also to make it possible for company executives to assess potential return on the investment of marketing dollars. Different aspects of the marketing plan relate to accountability. The marketing plan is a general responsibility from company leaders and the marketing staff to take the company in a specific direction. After the strategies are laid out and the tasks are developed, each task is assigned to a person or a team for implementation. The assigned roles allows companies to keep track of their milestones and communicate with the teams during the implementation process. Having a marketing plan helps company leaders to develop and keep an eye on the expectations for their functional areas. For example, if a company's marketing plan goal is to increase sales growth then the company leaders may have to increase their sales staff in stores to help generate more sales.