What Do Marketing Firms Do?
Marketing firms help their clients reach and connect to their ideal target audience.
The biggest reason to hire a marketing firm is to increase sales by understanding your customers better.
The first step is usually marketing and competitor research, then creation of their ideal customer avatar for positioning and offer creation.
After the research is done, it will be time to begin to create a marketing strategy.
Once the strategy is approved, marketing firms will usually also implement the strategy with the key focus being more sales and customer data.
Marketing & Competitor Research:
My marketing firm, The Marketer, has done market research across numerous industries.
This usually starts with competitor research.
My personal favorite tool for this is SpyFu.
SpyFu will help you understand your competitor’s digital marketing and SEO strategy.
This is a good starting point on how you can position your company.
Look up your competitor’s website and compare their tagline/offer to yours.
Venture through their funnel to see how they are closing their leads.
At this point, the marketing firm has analyzed a few competitors and have taken notes on how we should adapt to be a great contender in our industry.
Now it is time to get specific answers for our business.
Next, we move over to Survey Monkey where we can set up a survey to be answered by targeted demographics.
These surveys usually cost between $100 – $2000 and have a 7 day turnaround time.
The price increases based on how targeted you get.
You should ask the minimum amount of questions you would need to know what your customers are looking for.
Ask about pricing, packaging, branding, suggestions, availability/distribution, paint points, and promotions.
After you receive your responses you now have data on your competitors and your target audience.
You can now start creating your offer and customer avatar.
Ideal Customer Avatar & Offer:
Imagine seeing an ad on your Instagram feed that said “Hey [Your Name]! Listen up!”.
You would stop and listen.
It is crucial to be very specific on who you are targeting.
For example with a pillow company:
“Do you have trouble sleeping at night? Do you toss and turn and seem to never find a comfortable position? Can you ever get 1 full night’s sleep without waking up once or twice each night? In the morning are you more tired than before you went to bed? Do you have back problems because you are not sleeping properly? Well, I got a product for you!”
Imagine if you had every single one of those problems, you would be completely engaged in that ad and most likely try out the product.
Guess what, because of our market research we found out those exact pain points to use.
We also found out our customers think $100 for a pillow is too expensive, so we include in the ad 70% off your first purchase if they buy within 24 hours of seeing the ad.
So we explained that we understand our customers and what they want and we offer a solution at a price they feel comfortable paying.
This is why creating your ideal customer’s avatar is so important.
Once you find exactly who your target audience is creating the perfect offer should be easy.
The market research from the first section helps with this process 10 fold.
Marketing Strategy & Implementation:
You have the facts, you have the offer, now all you need is the plan.
What medium do you plan to use to reach your target audience?
One of your questions for the survey should be asking where your target audience likes to spend their time or what apps do they use most.
This will allow you to find places to either media buy or advertise.
Some businesses have good luck with a direct mail campaign and others need a large advertising campaign connected to a sales funnel.
Each company is different and needs a personalized marketing plan.
You should know who your customers are, where they spend their time, their pain points, and an offer they can’t refuse.
Once you figure out the best promotion campaign letting your audience come to you is key.
At my marketing firm, we usually say it takes 4-6 weeks to start seeing consistent results.
Stick with a campaign and slowly increase the budget each month to scale.
Thank you for reading this article and if your company needs to hire a marketing firm like The Marketer, feel free to call or text us at (727) 344-9862.