Full Service Agency vs. Marketing Consultancy
How Brands Utilize Marketing Has Changed
Marketing is ever expanding with new additions in marketing channels. As the world has evolved, how brands market their products and services has too. Growing from traditional media like tv, radio, and print into social media and apps, marketing has seen some pretty significant changes over the years. While the opportunity to reach a target audience has expanded, creating content, choosing channels, and knowing how to utilize these channels can be a pain point for brands.
Luckily, new channels aren’t the only addition to the marketing industry. The industry has grown to include niche marketing agencies and consulting firms. Brands now have more options than ever when it comes selecting experts to manage their marketing investment, so how do they choose?
Full Service vs. Niche Agencies
Full-service marketing agencies use a holistic approach to marketing strategy, but they are not cost efficient. Large agencies have overhead that inflate pricing. (Think about it–you have to keep everyone paid, but may not have enough work. During slow months, you still have to pay for web architects, graphic designers, writers, project managers, etc.) Niche agencies have sprung up–but don’t have inflated pricing (because they don’t have the overhead). Niche agencies are composed of experts in a specialized area of marketing and they charge only for services related to that area. Rather than relying on full-service agencies to sell you all they can do, business owners can now choose to pay for just the services they need (and the quality is just as good if not better with the specialized agencies).
What a Consultancy Offers Brands
Consultancies focus on the 360 degree view of the business goals, offering lean marketing strategies that bring accountability and roi to the table. They analyze market potential, channel potential, the behavior of the target audience, and historical performance. Solutions fit the business goals and the budget.
Focusing on too many channels at once can actually hurt a business. Or investing too much in creative services can reduce the ability to get the necessary reach. Consultants are constantly evaluating the efficiency of channels and the effectiveness of the overall marketing investment to ensure less waste and better results. Consultancies (like OpGo) can partner with niche agencies to bring the most effective solutions to the table.
How Does OpGo Fit?
OpGo Marketing is a consultancy that offers centralized marketing solutions. We work with brands of all sizes throughout the country to plan, measure and optimize marketing investments. Rather than becoming a full service agency, we see our future in lean marketing budgets and strong partner relationships to help businesses reach their goals. We are different than full service agencies in many ways…such as we don’t charge commission for media buys or mark-ups for partner services. An investment in OpGo is more like hiring a team member. We work right along side our clients and their existing marketing teams to help bring effective solutions to the table.
The first step to optimizing your marketing investment is to measure your marketing efforts. A great place to start is to ask questions like these:
- How have customers found you in the past?
- What is the cost to acquire a new customer?
- Which channels are driving leads and conversions efficiently?
- What percentage of your traffic is organic?
- What is the path to purchase?
- What is the close rate by sales person?
The answers to questions like these and others set a baseline for allocating funds when building an optimizing a marketing plan.
Customer research is also key. OpGo takes a look at your target audience and how they interact with your brand. Knowing how your customer feels about your brand will help businesses learn where they can improve, which will in turn, increase repeat purchases and referrals to bring in new customers.
By examining the performance trend of your past goals, we determine which channels will help achieve future goals. Then using analytic tools, we continuously measure growth, trends, and cost…because marketing channels and consumer behavior are in a constant state of change. Thanks to automation of data and dashboards, our team helps makes informed recommendations. Knowing what works and what doesn’t will allow you to tweak your strategies and help you reach your goals more efficiently and cost effectively.