This is a question that I get asked a lot and to try and come up with a simple answer is often difficult. The best way that I can describe the role of a marketing company is to say that it is a business that helps other businesses to grow.
Having worked on many marketing projects for a very diverse range of clients over the past 18 years I have come across a lot of very good and very ordinary marketing consultants. A good marketing consultant (or marketing company) will have a balanced mix of technical know how and practical experience. They will know a region inside out and they will have the experience to know what will work for a particular business and what will not. They will market the business as if it was their own and they will have a proven track record of businesses that they have helped to grow.
Some of the main ways that a good marketing company can help a business to grow includes:
Develop marketing
strategies
This involves determining exactly where a business
wants to be in a say 3-5 years and developing a
strategy that will help the business to get there.
Marketing strategies need to be tailor made for each
individual business simply because every business is
different. A marketing strategy should be a simple
document, produced in a manner that will enable the
business owners or manager to implement the
recommendations themselves if they choose.
From my own experience, a good marketing strategy encompasses a wide range of subjects included identifying a business’ current strengths, weaknesses, opportunities and threats. It makes recommendations on the business’ promotional material, advertising, corporate image, public relations activity, internet strategy and levels of customer service.
Trouble shooting
Many businesses find themselves in financial trouble
due to a lack of customers. One prime example of this
is retail – we have more shops now than ever before
and there are more on the way. A marketing company can
identify why a business is losing its share of
customers and make recommendations to correct the
problem.
Training
Understanding marketing, advertising, public relations
and the media is a difficult task. They are
specialized industries that all business owners need
to know a little about. I have found that in recent
years more businesses are looking for specialist
training in these areas so that they can take more
control of the future growth of their business.
Because of this, experienced marketing consultants are sought after to pass on some of their skills and knowledge.
Mentoring
Many businesses look for marketing companies to assist
them in the growth of their business in an ongoing
capacity. The marketing company may develop a
strategic marketing plan and then work with the
business to implement the plan over a period of time.
In my business we have many clients that we have been
working with for years in the capacity of a marketing
mentor.
More and more businesses are using the services of a marketing company to help their businesses to grow. The costs associated with using this service is normally far outweighed by the results achieved and if the marketing company is any good, it will be the beginning of a long and beneficial relationship for both parties.
Costs
You can expect to pay somewhere between $100-$600 per hour depending on the location, business size and the number of tasks being performed. A good formula for most businesses looking for optimum growth is 7-9% of their gross operating costs.
