Exactly what does a marketing consulting firm do?

Marketing department meeting

Last Updated on August 31, 2021

In 2018, the world spent approximately 457.6 billion dollars on marketing. In today’s world, we need marketing consulting firms more than ever. A marketing consulting firm’s main task is to analyze and audit a company’s marketing strategies and then advise them of changes or better ways to perform their marketing tasks.

Additionally, a consulting firm can also form marketing plans or innovative strategies or recommend marketing tools a company can use for better results. It can also identify the part of the sales funnel your company should be focusing on according to your audience and stage of your business.

A marketing consulting firm is comprised of marketing professionals. These professionals are experts in different marketing areas like SEO specialists, social media managers, or email marketers. These firms and consultants are excellent if your organization targets a specific marketing objective in the marketing cycle.

Marketing research development planning

Depending on its requirements, a marketing consulting firm is usually hired for a certain period or a particular task. A company can either outsource marketing activities it doesn’t have the appropriate human resources for or get a second opinion on its already ongoing in-house marketing activities.

Marketing consulting firms are on such a rise because they provide easy and cost-effective solutions to your company’s marketing needs. Building an in-house marketing team is both time-consuming and costly. Finding the right set of people with the right expertise can be difficult. Along with that, hiring someone for each marketing need can be a burden on the company’s payroll.

Are you looking for help with your marketing campaigns and need a dedicated consulting team on your side? Get in touch with an expert today to drive more traffic, leads, and customers to your business today.

Benefits of hiring a marketing consulting firm

It can be difficult staying up to date with technology and marketing trends. Here are some of the largest benefits your business can take advantage of by working with a consultant.

Fresh Perspective

Marketing consulting firms offer a second opinion and a fresh perspective to companies whose marketing teams are established. When a company’s marketing team has been working on the same product in the same environment for an extended period, they get used to looking at things from the same perspective.

They might also become more aware of their own company and products, not competitors and the market environment. A marketing consulting firm can breakthrough this bias and offer new strategies and marketing perspectives to the companies.

Time

Hiring a marketing consulting firm means saving time. Because with a marketing consulting firm you cancel out the need for lengthy requirement process of employees. You also save time that is spent in employee activities or team building processes. A marketing consulting firm sticks to the task assigned without disrupting your employee activities, company processes, internal conflicts, or decision-making. 

Time is money

Right Resources

Not all companies and organizations have the right resources to support suitable marketing activities. These recourses can be both human resources or marketing tools. With the right consulting firm, you can get the right expertise and technology, and tools required to make intelligent marketing decisions.

For example, great inbound marketing is dependent on different technology and tools, and these tools require specific access or expertise to be fully utilized, which a marketing consulting firm offers. This differs from something like a direct response firm or one that has expertise in pay-per-click advertising.

Forming Strategies

Strategy formation is something that marketing consultants are great at. These consultants are professionally trained to solve case studies and problems for firms. The audit and analyze problem areas better than any marketer to offer solutions that are viable and innovative. Thus, relying on a marketing consulting firm to select your company’s marketing tools, resources, and guidance for the marketing plans is smart. 

Along with all this, these individuals also have experience of working for different sizes of companies and different sort of industries. All of this leads to a better understanding of what works for which sort of industry and its size. A consultant’s analysis and understanding of the market helps a company to strategize better marketing decisions.

A consulting firm advises and offers solutions based on a detailed analysis of your company, industry, and products. These plans and advice are personalized, well-thought, and also measurable. You can track the success of these plans through metrics. A marketing consulting firm first learns about a company before offering any solutions or advice.

Things to keep in mind while working with a marketing consulting firm

There are, however, some things that you need to keep in mind while outsourcing your company’s marketing decisions to a marketing consulting firm like:

Communication

Ensure that the communication between your company and the consulting firm is open and transparent. Clarity of communication is essential because, at the end of the day, how your company’s tasks are delivered is dependent on that. Both the parties should ensure that there are constant communication and updates about the marketing tasks and activities. 

Goals

The goals and results expected by the company should also be clear. Even though a company can’t identify the exact outcomes because they depend on the consulting firm’s analysis, they should tell the exact area they are looking for consulting help in. When the goals are clear to the marketing consulting firm, they can efficiently work around the company’s desired requirements. 

Clear communication and clear goals are the key to a successful consult.

For small to medium-sized organizations, the main reason to hire marketing consulting firms is the shortage of resources (human resource or marketing tools). These consulting firms save up their cost to purchase expensive marketing tools or the time and money spent on hiring good human resources.

Business goal achieved

Having an in-house marketing and strategy team is also high maintenance in employee engagement programs and monthly paychecks. Hiring a marketing consulting firm gives small organizations the same edge as their big competitors even without spending a lot of time in the market.

However, for large firms, the main reason to hire marketing consulting firms is to get a fresh perspective and a second opinion. Since the more prominent organizations have been in the business for so long, their in-house marketers can get stuck to one idea, or their strategies can get redundant.

Hiring a consulting firm gives them a different perspective and analysis on their ongoing marketing strategies. These consulting firms also add value and offer innovative solutions to the organization’s marketing problems.

Final thoughts

Since a marketing consultant has the expertise, tools, and market knowledge, the possibility of success with their ideas and plans is higher. A marketing consulting firm can develop strategies and identify the right set of platforms and tools for your organization. These firms are also less time-consuming and more cost-effective. They work with data proving their ideas to be more effective and efficient.

A consulting firm can offer creative solutions and a newer perspective to your company’s marketing activities and figure out your marketing team’s problem areas.

Are you looking for help with your marketing campaigns and need a dedicated consulting team on your side? Get in touch with an expert today to drive more traffic, leads, and customers to your business today.