The Web 2.0 paradigms have undergone significant changes as the mobile and tablets have emerged as strong contenders in the early 2010s. Here we try and analyze what the marketing team and marketing agencies do in today’s context and why their role requires significant thought .
A lot of people generally think that marketing agency switching involves little or no switching costs at all. Au contraire, the reverse seems to be becoming true these days. The reason for this is the very fact that there are now so many newer facets to marketing to chop through. Its not individual channel marketing but overall media basket handling – including television, radio, print, outdoor, internet and mobile which seems to be the toughest part to handle for many a company these days. Why is this happening?
Its very much Murphy’s law isn’t it? At one point, you are hard pressed to squeeze higher ROI through marketing, whereby you just HAVE to pressurize your marketing incharge. And then at other end, you have to ensure that the capability co-efficient of your marketer is strong and growing all the time as well. The balance of all of this is very tough to achieve and many-a-big companies have faltered in achieving the same. Why – well, look at what the duties of the ‘marketing’ part of the organisation have become.
1. Stand out in the crowd – In a world where brands are literally crying hoarse for attention, your marketing team has to make an effort to make your brand stand out. For this, just normal ‘reminder’ or ‘continuation’ type of ads won’t do. The ads need to necessarily be something that stands out. Some of the ads that are managing to do so are ad campaigns like ‘Havells’ with the ‘ON-OFF’ switches and the ‘Rajesh Khanna’ ad campaign during the cricket extravaganza – IPL.
2. Tracking competition and industry – Today’s ad world has become proactive. Professionals of the world understand that with increasingly lower response times to any brilliant moves by the competitors in the industry, the marketing team needs to be on its toes at every moment basically. Marketing team has to be the first one which tracks the industry as a whole and cracks the whip on so many change initiatives that then impact the company overall, before its too late. Take for instance the ‘per-second-billing’ concept introduced by Tata Docomo. Now, as competition, they knew that they had to react. However, launching per second billing could considerably impact their revenue projections for the coming quarters. The trade off could be quite large, but the need to react certainly was massive.
3. Plethora of media – How many times have you heard your marketing team exclaim – ‘XYZ has come up with a new SMS campaign’, ‘ABC has come up with a new iPad application’, ‘XYZ has come up with a new tieup that promises to get them significant mileage and lower customer acquisition costs’ ? Clearly, in today’s world, there are many ways in which significant advantages can be created for your organisation by executing an innovative media campaign or a far sighted alliance or a novel customer outreach program successfully. This creates an interesting trade off for the marketers to solve, wherein you are expected to do an opportunity cost analysis and optimise your budget for guaranteed returns. The usual force-fitting of mass media campaigns may not be needed for many of the companies with a similar effect can be achieved by a beautifully executed facebook campaign which can potentially go viral on Facebook.
4. Metrics for evaluating success – In the modern era, particularly last 5 years, marketing as a function has increasingly ceased to remain isolated from the rest of the organisation. Gone are the days when marketing team functions completely differently from the rest of the organisation. Today, a marketing team is a complex team of coders, multi skilled people and even the management guys on the sales and production side which need to understand what the market wants. Also, there are new ways to measure the effectiveness of every marketing activity that one is doing. For example, clear metrics such as number of phone calls, number of leads, number of impressions, potential reach metrics have become increasingly accurate.
Note that a lot of what was discussed above is something that your marketing agency does or is involved in partly. These are critical tasks for your organisation and do not think that they are something that are easily dispensable. The role of the agency has evolved into a business partner with long reaching business parter in your business and it should be recognized as such.
What are your thoughts? Post them below.