Marketing strategy consulting firms assist companies in building and implementing marketing plans and go-to-market strategies. This group of professionals has experience working across industries and customer segments and have understanding of marketing approaches and value propositions.
A marketing strategy consulting firm has a good understanding of multiple channels of marketing. Based on the industry, product offering, and target market, the firm can suggest and implement an optimum media mix that can benefit an organization across facets of brand awareness, marketing communication, business generation, and brand loyalty.
Part of their marketing strategy services also includes marketing technology consulting. A marketing consulting firm can assist in buying and implementing software tools that are critical to drive marketing campaigns and communication. This part of the service has become critical with the advent of digital marketing.
A distinctive advantage that a marketing strategy services firm brings to the table is the capability to understand and crunch data. The firm then builds strategies based on insights derived from the marketing intelligence generated from the data analysis. As a result, marketing activities become relevant and generate expected results.
A marketing strategy consulting firm works with its clients on the following fronts:
Define the Value Proposition
The marketing strategy consulting firm works closely with clients to define the unique advantages or benefits the product offers. This is important to create underlying messaging that the marketing team needs to communicate to attract potential customers.
Identify Customer Segments
For its product or service, a company might have an identified target market but it is important to identify the most attractive customer segment. This helps bring focus to marketing campaigns, optimize cost and achieve consistency in messaging. A marketing strategy services firm works with key executives to narrow down on the apt customer segment for product positioning.
Build the Marketing Plan
The marketing plan is the heart of the marketing strategy to promote a particular product or service. The marketing consulting firm works with a client’s team to build and execute a marketing plan to meet specific objectives. A market plan (media & marketing channel mix) comprises of digital & traditional marketing, performance marketing, email & contact marketing, P.R. & account-based marketing.
Implement Marketing Technology
Technology is key to measuring marketing success. With digital marketing dominating as the preferred medium of marketing communication implementing the right marketing technology stack is critical to executing and measuring the outcomes of marketing campaigns. A marketing strategy consulting services firm, not only assists in implementing marketing technology applications but also helps operationalize the stack and takes the lead in defining marketing KPIs to measure campaign outcomes.
Build Marketing Teams
Building an internal marketing team or hiring a marketing agency is not an easy task and often creates confusion. A marketing consulting firm can advise on the pros & cons of both and help in building this marketing group. Furthermore, it can advice on optimizing talent within the existing teams.
Organizations that have had marketing functions for a long time can suffer from static performance due to the same set of strategies and limited exposure to changing market dynamics. Marketing consulting firms bring fresh perspectives and ideas that can open a new horizon to reach customers and market the brand.