There are numerous myths and misunderstandings concerning marketing consulting services and their true usefulness to businesses. Marketing consulting is a well-established word in the US and UK markets, and it is often used to consult internal teams on marketing strategy and market expansions. However, the role of marketing consultation is still unclear in other regions of the world. The most common misconceptions regarding consulting services are that they are extremely advanced or primarily technical.
To comprehend what marketing consultancy may provide, we must first explain the module.
Understanding Marketing Consulting Model
On multiple levels, the consulting model is fundamentally linked to the company plan. To begin, market research is an important element in knowing the marketplace and the consumer. Setting the correct expectations and gathering meaningful information is the foundation for launching a brand and designing a company plan. Marketing contributions to organisational structure and infrastructure are critical in a digital-first society. Furthermore, organisations are shifting to customer-centric models, which necessitates the development of an effective customer analysis and the integration of the customer’s online journey with customer relationship data.
As a result, the consulting model contributes significantly to the business model. The use of advanced consulting methodologies and marketing approaches is essential for developing effective KPIs and a plan. Marketing consultants have emerged as a highly dependable strategy that can operate with any business module, from startups to medium-sized and large businesses, in recent years.
The Main Benefits of Marketing Consulting Services
Marketing consultancy as a service helps firms to gain access to cutting-edge marketing knowledge on dependable terms. Businesses typically hire marketing consulting consultants to meet critical needs on short notice.
It is very different from looking for an agency or a marketing professional because the commitment here is long-term. Because of the type of agreement and results-driven requirements, the type of commitment with consultants provides for a far easier process of shortlisting and selection. The following important aspects describe the primary benefits of marketing consulting services.
Businesses are constantly looking for highly specialised opinions and expert assistance in order to not only complete the assignment but also to gain a competitive advantage in the market. Consulting services are usually necessary to offer value to the brand and marketing operations rather than simply complement them. The capacity of marketing consultants to provide an expert vision and prevent marketing mistakes is their primary benefit.
The expansion of the marketing consultancy profession has been influenced by many prospects and offerings. Agencies supplied services based on their qualifications and bespoke services based on the demands of the client. However, the intricacy of digital marketing has produced a high demand for consultants across all digital channels and platforms. A new generation of marketing consultants gradually began to join the force as freelance experts or subcontractors. As a result, marketing consulting has become a specialised function performed by highly experienced professionals in a certain marketing channel, such as social media, or by technically specialised consultants in a platform, such as HubSpot, MailChimp, or Google Search Ads.
Marketing consultancy is an outside resource that provides new perspectives to stakeholders’ tables. Third-party intervention might bring fresh perspectives on the situation and marketing issues. An competent consultant can demonstrate proper research and present a comprehensive theory. Being an external resource essentially permits the marketing consultant to conduct more research and expand the analysis.
Eventually, the job of marketing consulting services evolved into a strategy for enhancing a specific strategic tactic. In other circumstances, the consultancy can be project-based, retainer-based, or even based only on profit and KPIs. This freedom in hiring and managing collaboration has shifted marketing departments toward more daring tactics and new technology and channel verticals. Furthermore, evaluating their work history and doing test drives to investigate their abilities in fixing current difficulties makes it easier to evaluate consultants.
While engaging a marketing agency or marketing professional necessitates prioritising certain responsibilities and budgets, consultants are more akin to strategic partners, with the primary role of investigating ongoing difficulties. Historically, the marketing department requires fresh recruits to keep up with changing technology and to do various jobs. Without the necessity for experiential journeys, consultants provide greater skills in evaluating marketing technology and establishing the correct route. As a result, marketing consultancy provides for a more customised approach without the need to sign a full commitment or spend money on unclear paths.
Another significant advantage of marketing consulting services for all types of businesses is the tailored scale. While medium-sized businesses have a well-established brand and marketing plan, startups are looking for specialists to assist them in developing their strategy and brand. Marketing consulting services can work with a variety of firms and brands depending on their size, budget, and market size. However, well-known consulting organisations are more interested in large contracts, whereas independent and freelance marketing consultants are usually flexible and capable of providing customised services.
Marketing spend control
Return on Ad Spend & Marketing ROI ROAS are unquestionably an important metric for evaluating marketing performance. There are always difficult problems in translating every facet of marketing activities into simple ROI figures. Marketing consultants are frequently involved in the creation of accurate and dependable metrics for tracking performance across all marketing channels. The key advantage of engaging a marketing consultant to build reports and dashboards is that they are external resources with a set of established monitoring and analysing standards. As a result, the consultants can assist in resolving the usual disagreement between marketing departments and upper management.
A vital part of marketing consultancy is also to audit paid channels and make advice on channel mix as well as the optimization process of digital advertising platforms such as Google Search Ads, Facebook Ads, Display, Programmatic, and other paid social media channels.
Consulting and Marketing Transformation
The consulting process’s fundamental value is to transform the marketing role in business. Primarily, the concept of marketing transformation is frequently associated with the corporate process of digital transformation. However, it is critical to consider the function of marketing transformation in overhauling the marketing department. Marketing consultancy is one of the most effective methods for assessing and planning a marketing change. Finally, the consulting here might comprise a marketing automation plan, a marketing structure, an assessment of the marketing tech stack, a data analysis framework, and, most significantly, mentoring and training.
Marketing Consulting at Early Stage
While some businesses may seek marketing consulting services only when they are experiencing critical challenges with their marketing performance, consulting is more useful during the early stages of starting marketing activity. Traditionally, consultants can provide essential contributions such as thorough market research and analysis to assist in the establishment of business objectives. Furthermore, the high value of a marketing consultant is based on developing a strategy approach for digital channels and branding. These early-stage consultancy implementations can aid in the development of the original business strategy. As a result, the marketing consultancy module is an integral part of the company’s foundation.
Businesses, it appears, start developing marketing teams from scratch and rely on hiring a marketing director or a digital agency to handle all of these activities. The biggest disadvantage of this strategy is the lack of control over the results. The in-house marketing department is typically incorporated within the organisation, which adds numerous levels of bureaucracy and, in certain situations, precludes marketing from bringing about dramatic reforms. Another disadvantage of this approach is the lengthy process of employing full-time employees or expanding into new regions and prospects outside of the business model.
While the digital marketing agency approach appears to be more adaptable and simple to implement, the agency is still viewed as working on quantity rather than quality. The agency model is more concerned with execution and reporting than with investigation and information generation for the business model. Because of the conflict of interest, there is always a gap in learning and problem-solving approaches. The agency’s business techniques generate profit based on the size of the account and service fees, not on future opportunities. As a result, the majority of marketing know-how and technical experience will remain in the agency’s hands, with only a portion of strategic knowledge shared in monthly meetings and reports.
This brings us back to the beginning, when marketing consulting may help firms acquire not just strong information, but also develop the marketing strategy. The main advantage of marketing consultancy is alignment. Because marketing consultants operate independently, they are able to conduct thorough research and identify the best approaches for achieving business objectives.
Marketing Consulting: A Problem-Solving Method
While marketing consulting services are extremely important in establishing a marketing foundation, senior management often involves consulting when they are confronted with a serious problem or requirement. As a marketing consultant, this is the most common type of request I receive. However, in this scenario, the needs are more narrowly focused on a certain channel, technical, or regional market. We will go over some of the most prevalent difficulties to provide an overview:
- Underperforming marketing is a common issue that might entail a variety of factors. The most visible factor at first is the drop in leads and inefficient conversion rate. In other circumstances, the issue is dependent on delivering high-quality traffic to the website and across digital media channels.
- Establishing a new market: The difficulty of expanding to a new market necessitates the assistance of a local specialist. It is related to competition analysis and having a better understanding of the target consumer.
- High cost per acquisition: This is a regular issue that senior management and marketing directors face. The efficiency of paid channels and campaign planning are two of the most important aspects influencing marketing dollars and ROI. It is a critical issue for businesses who spend a lot of money on Google Ads and other paid channels like Display and Facebook Ads. As a result, management must successfully evaluate marketing channels and improve lower-funnel KPIs such as CPC, CPA, ROAS, and CLV.
- Social media marketing is a well-known fact that it is a highly competitive marketing channel. Businesses frequently examine the performance of their social media networks. This issue is frequently related with the need to broaden reach and improve brand communication.
- SEO and Organic Traffic: The requirement for a higher position in organic results pushed SEO to the top of the marketing priority list. Companies are constantly faced with severe competition in the organic rank and want skilled SEO consultation to attain the best outcomes.
- Technical issues might range from simple debugging and the installation of a tracking pixel to complex marketing technology connections. Technical consulting is not always provided by technology partners. A marketing consultant may be required in specific situations, such as when conducting a large audit or establishing a marketing automation plan. Conducting research of the marketing tech stack and delivering effective recommendations of tools that suit with the marketing needs is one of the primary needs.
- Marketing Analytics: One of the most essential difficulties for businesses is collecting and evaluating marketing data. Monitoring marketing performance and tracking data is a constant source of frustration for senior management. As businesses shift to data-driven marketing, the primary issue is not only gathering information, but also hiring consulting firms that can give them with sleek and highly trustworthy dashboards. While it appears to be a simple GA type of tracking, merging all channels and doing comprehensive analysis requires the services of a skilled marketing expert.
After assessing the most common issue that necessitates marketing consulting services, it is critical to distinguish between focusing on the problem and evaluating marketing strategy. The biggest problem with handling particularly specific issues like SEO or social media is that marketing is about developing strategic habits rather than divided actions or channels.
Fundamentally, consulting necessitates a tailored inquiry that encompasses not only strengthening social media, but also questioning the short- and long-term influence on business objectives and brand image. The marketing consultancy methodology enables businesses to evaluate not just the outcomes, but also the strategic approach and determine the best course of action. Furthermore, unlike normal freelancers who are engaged to perform a work, consultancy might overrule the request in some situations by bringing new insights.
Developing a collaborative relationship with consulting services necessitates some knowledge of the consultancy’s working techniques and environment. In terms of dedication and tasks, consultants are characterised differently than marketing teams. Consultants, as opposed to the marketing team, are recruited to provide a competitive advantage and a significant increase in marketing efficiency. As a result, marketing consultancy services are not usually luxurious or highly strategic. Marketing consulting services are an important stage in the development of a business concept.