What is a good digital marketing strategy?
A good marketing strategy correctly identifies the target audience and understands consumer needs. From there, DAP creates and rolls out the right marketing methods to put your business in front of customers and ahead of your competitors. Remember that a marketing strategy is a long-term approach; quick solutions don’t elicit long-term results.
Our marketers know how to communicate your brand’s value proposition. When consumers know your product or service is superior, they continue purchasing from your company. Building these relationships is a process — your consultant lays the groundwork for your long-term relationship with current and prospective clients.
Before executing a plan, marketing professionals analyze your target audience and your competition to determine your company’s position in the market. In short, a strategy defines the “what” in your marketing roadmap. Asking what you want to achieve is the key to driving conversions. Are you looking for advice on lead nurturing, engagement, or customer retention? Maybe all three or even more? We have the answers.
What does a digital marketing consultant do to create a strategy?
To generalize, here are the four steps to consider when creating a strategy:
Segmentation
There is no one-size-fits-all approach to connecting with your target market. Many current and potential customers fall into different groups based on their demographics and needs. A consultant identifies these groups through market research and compiles the results in a super-long, super-detailed report. This information is vital for addressing your customer’s expectations.
Targeting
When your advisor has all the market information needed, they determine how to target the market segments that can benefit your business the most.
They may ask pointed questions:
“What service will meet your consumers’ needs?” and “What do they expect from you as a brand?” A consultant will focus on making your marketing strategy reflect that your brand’s strengths meet — and exceed — your consumers’ expectations.
Advertising
Advertising is telling your consumers why they should purchase your product or service. After designing your plan and narrowing your target segment, your DAP marketer uses a number of online and offline marketing tactics to promote your brand.
Monitoring
Data speaks volumes about how a campaign is performing. Marketing experts typically analyze metrics (such as KPIs) to evaluate the increase in click-through and conversion rates, as well as overall website traffic. Having a digital marketing consultant monitor your campaign’s performance is valuable because they can identify any areas that require improvement.
Why do firms use a consultant?
You’re focused on production, pricing, and meeting your customers’ needs — you don’t have the time or resources to create a marketing plan. Many businesses have the same issue. It can be difficult to figure out where to start. A strategy consultant removes that uncertainty.
Consulting experts offer a wide range of valuable expertise and present solutions that can help your business reach its full potential.
There are additional reasons to hire a consultant for other reasons, too, like…
You’re struggling to gain visibility in your market.
If your business isn’t getting enough high-quality leads or closing enough sales, then it might be time to consider hiring a marketing strategy consultant. They will do a full audit of all your marketing efforts and identify the areas where you can enhance your brand message. They can also help you overhaul your products or services if necessary, and they can offer advice on pricing.
You’re unsure about opening a marketing department.
Perhaps you’re new to marketing, or you don’t have a large budget. Either way, hiring a consultant can help you. Ad agencies have strong track records, but they often charge higher premiums to cover salaries and overhead.
Working with a consultant gives you the same — or better — expert advice far more cost-effectively so you can decide which direction to take your business. An experienced marketing professional will set up an effective marketing plan and outline specific business goals to improve your sales.
Your business needs a specialized skill.
If your business has been operating for a while, you might not need to start your marketing from the ground up. In certain cases, you might need certain skill sets to improve sales, such as SEO or website design.
A marketing strategy consultant has industry-specific experience. They will not only put together a customized marketing plan, but they will advise you on newer marketing techniques that could have a greater impact on your business.
You need a second opinion.
Successful businesses always take feedback into account to improve their products and services. An experienced marketing strategy consultant will identify any weaknesses and areas of improvement in your brand execution. This will make better connections with your audience and make your marketing campaigns more effective.
Working with a consultant can give you invaluable insight into how your website is resonating with internet users. With the expertise and industry knowledge of our B2B marketing consultants, you can put — and keep — your business at the forefront of search engines and social media.
What is a marketing plan?
A marketing plan is an essential document that outlines an advertising strategy for a business. Its purpose is to drive customer and revenue generation. Marketing plans are useful because they go through every single detail of market segmentation and public relations campaigns. They also identify milestones for review.
Digital marketing consultants focus on the value proposition of a business. They think about how your brand solves customers’ problems and why they should buy from you and not a competitor. A marketing plan identifies your target market through market research and marketing channel decisions. For instance, a consultant will determine if your brand will get better visibility through social media or online ads and why.
Marketing plans are extremely flexible because they can be tailored to all markets for any goal and support pricing decisions. Our team also measures metrics based on the quarterly and annual milestones set out in the marketing plan. For example, if digital ads are performing well, the plan can be adjusted to increase your digital marketing budget.
Sometimes, a bit of confusion surrounds the difference between a marketing plan and a business plan. Although the two have some similarities, the main difference is that a business plan covers more ground. Business plans include a general marketing plan to give stakeholders a holistic view of the company’s mission.
A marketing plan focuses more on market research and identifies which techniques will best resonate with your target market to generate more leads and conversions. Businesses need the advertising strategy provided by a well-written market plan to sell their products or services. It keeps them on track with new trends for reaching consumers.
How much do digital marketing consultants charge? What is the hourly rate for marketing strategy?
Now that you’ve decided to hire a marketing strategy consultant, you’re probably wondering how much they charge. Every consultant charges different fees depending on experience, education, and the number of hours they expect to spend on your marketing campaigns. In general, consultants charge using three common payment structures:
Hourly or daily rates
This is probably the most popular billing method because it provides flexibility to both the client and the consultant. It’s easy to track the hours worked and gives the client an opportunity to see if the working relationship is a good fit prior to investing more funds. The entire process is transparent. It rarely results in confusion between the parties.
Flat fee
Paying a flat fee upfront means that, as a client, you only pay once and aren’t subject to any hidden costs. A flat fee refers to a fixed charge that a client pays instead of a commission based on percentage.
Results-based fee
This payment method favors the client because they pay only if they see the results agreed upon in the contract. The results fee can be totally or partially results-based, with the latter favoring the consultant a bit more.
For example, a result-based fee will pay the consultant 10% of your total sales growth. If you were to negotiate a partial results-based fee, the consultant would first receive a lump sum payment, with the remainder paid when a pre-determined target is met.
Alternatively, new companies like startups might also offer shares in lieu of a consultancy fee; however, consultants might still request additional payment using one of the above-described structures.
How consultants structure their costs
If your consultant works at an agency, there is a high chance that an overhead fee will be attached. Consultants will also price their services depending on their experience and level of education. For instance, a pre-MBA consultant can charge up to $400 per hour, whereas those at a partner level can charge as much as $1,200 per hour.
Hiring the right consultant for your business means understanding their values and areas of expertise. Some professionals offer a free trial for their services so that companies can test the waters prior to making an investment.
What qualities should I look for in a marketing strategy consultant?
Companies need experienced marketing professionals to execute strategies that increase their online visibility. It’s a competitive industry that requires sound decision-making in multiple areas and the correct allocation of resources. A good consultant has the ability to evaluate your business and identify areas that are holding you back.
When interviewing, look for the following qualities:
Understanding value
A skilled consultant easily recognizes the value of great content and how to best employ it in a cost-effective way. Through in-depth market research, they have a clear understanding of who your target market is and how to engage with them.
Willing to learn and be adaptable
An experienced consultant certainly has extensive market knowledge, but with the marketing industry changing what feels like every few seconds, they need to keep up with new trends. This could mean learning how to make the most of popular social media platforms or the latest PR tactics. Adapting to new information and having the ability to come to new conclusions is one of the most important aspects of marketing.
A creative thinker
The success of a marketing campaign completely depends on a consultant’s ability to creatively and flexibly respond to your firm’s needs. Although problems often have multiple solutions, it takes an excellent marketer to develop a strategy that can gain traction.
Aside from solving obvious problems, a brilliant marketing consultant will work with businesses to create their story in an appealing and compelling way that draws in customers and keeps their interest.
Goal-oriented
Last but not least, marketing consultants revolve their strategies around KPIs, measurable values that reflect how effectively a business is reaching its goals. A consultant will apply relevant KPIs for your business and use them to measure performance as frequently as needed.
Work With Digital Authority Partners
When you choose Digital Authority Partners (DAP) as your marketing strategy consultant, you partner with a team of experts dedicated to your business above all else. We put data above all things, making it easy to hone in on finding the missing ingredients in your marketing strategies. When it comes to driving conversions, consider us your personal chauffeur. Wherever you are in your growth journey, we have the GPS to take you to the next step with the roadmap we design ourselves. Get access to your map to success when you schedule a consultation today.
